Beeroclock wrote:]
In this case, it really depends how you view it. I mean, if the CPF is seen as a generous, subsidized interest rate (after adjusting for risk) intended to benefit citizens and PR's, it would be better actually to force those who renounce to withdraw all money immediately, so they can no long keep benefitting after having left. If you prohibit the lump sum withdrawal, it just means the Govt is continuing to subsidise/sponsor the retirement funding of these renouncers.[/b]
you misread something ..
only WEST Malaysians get the privilege of letting it earn interest when they leave Singapore .. till they reach retirement age of 55
all others don't get the option to leave CPF here ... when they depart SG, their account gets closed and anybody leaving SG, non MY PR or SCs giving up their Citizenship ... would want that money pronto than leaving it here. ... that's how I understood ...
and if they come back they must replace all the money back to CPF before even getting an EP. it is strictly enforced ...
if it was so, that will be like adding more fuel to the locals fire of demanding PR have all privileges revoked ... like demanding no HDB for non SC ...
for some voices insisting PRs leaving shouldn't get the money, I have this thought .. if so, allow PRs to choose not to contribute to CPF (avoiding money in CPF is one of the reason given by a few sub continent EP holders for refusing to apply PR .. like let me manage my money type of attitude ... )
if PRs are not allowed to get CPF when they leave what next? additional tax on PRs?
as it is PRs lost few privileges .. lesser subsidy in Hospitals, last in line for school ...