The PAP must be laughing all the way to the bank at how easy Singaporeans could be taken for a ride.
The CPF Board has just introduced another new plan to trap even more CPF in GIC. Called the CPF Life Escalating Plan (EP), it allows members to postpone enjoyment at 65 to years later when our body does not allow us to enjoy much.
Such a plan appears to have little demand as the real issue facing a majority of CPF members is retirement funding shortfall.
Since there is also a lack of competitive pricing and bequests, monthly payouts, etc are determined solely by one party, how could this be beneficial to CPF members?
After all, it’s an open secret that PAP’s incentive for tweaking policies to ‘help’ the people has always been its profit motive.