Budget 2023 debate: Saktiandi Supaat on retirement adequacy
How do we ensure that Singaporeans have enough money to sustain their way of life after they stop working or as they grow older? Does the Government intend to revise the interest rates on the CPF Ordinary, Special and MediSave accounts? These were some of the questions put forth by MP Saktiandi Supaat in his Parliamentary speech on Wednesday (Feb 22). Addressing the new support scheme for platform workers, Mr Saktiandi also asked if additional support will be given to platform workers above the age of 30 who opt in to the CPF contribution regime, and whether there are plans to bring in other groups such as self-employed workers under the CPF umbrella or to enhance their participation. He also questioned if raising the CPF contribution rates for older workers might disincentivise businesses from hiring them. He asked if the Government would consider permitting early withdrawal of retirement funds for specific purposes.
How do we ensure that Singaporeans have enough money to sustain their way of life after they stop working or as they grow older? Does the Government intend to revise the interest rates on the CPF Ordinary, Special and MediSave accounts? These were some of the questions put forth by MP Saktiandi Supaat in his Parliamentary speech on Wednesday (Feb 22). Addressing the new support scheme for platform workers, Mr Saktiandi also asked if additional support will be given to platform workers above the age of 30 who opt in to the CPF contribution regime, and whether there are plans to bring in other groups such as self-employed workers under the CPF umbrella or to enhance their participation. He also questioned if raising the CPF contribution rates for older workers might disincentivise businesses from hiring them. He asked if the Government would consider permitting early withdrawal of retirement funds for specific purposes.
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