ginger_bread wrote:For someone who pays into the CPF, the money is still theirs.
Without wishing to sounds overly cynical - actually simply more cautionary:
-I paid into the UK National Insurance scheme for maybe 20+ years, as after 45 years of contributions that would have funded a reasonable baseline pension, enough assuming I had nothing additionally accrued to add on top (plus it was a compulsory scheme). I don't know how long the scheme had gone on for, since WW1, or WW2, totally bullet-proof, it was considered. Yet now defunct and worth more or less nothing, so little it's not worth 10 minutes of my time checking.
- Meanwhile at work, I invested something like the maximum permitted, 10-15% of my gross career pay, on top of any bonuses which I received in the majority by way of payment in lieu with corporate stock, into buying into a corporate stock plan. Some 10-15 years into that the company essentially declared bankruptcy. All that for zero.
Maybe now you see why I got into 'slow and boring' property
investing, and similarly boring stock investing. I have to do something for myself, if I eff it's up it's my fault, but it's not just going to be foisted on me. I had to because everyone else but me, so far ha..., has terminally ended up poling my finances.
Be very very careful who you simply trust with your money.