Monday 28 November 2022

If official retirement age is 55 how?


Young that time, I witnessed 2 of my neighbours' fathers retired at age 55 as that was the official retirement age then.

I hit 55 this year.

I just had a "wu liao" (nonsensical) thought.

Imagine in an alternative universe, where we have high youth unemployment as economy "hentak kaki" (like in Taiwan?), and we don't have problems producing babies since that's the only "entertainment" when we don't have career aspirations as deterrent.

To make way for youths, everyone has to retire by age 55.

And you can take out ALL your CPF at age 55. You know, how it was meant to be when created by the founding fathers.

No CPF minimum sum, no CPF Life. 


Would you be glad and happier?

Or would you suddenly feel a bit sheepish trash talking big daddy all these times?

Especially when you realise you don't do too well on your own... You prefer to have a pet owner - woof, woof!



  1. Also no 35% CPFIS cap on OA, many of Mederka CPF members lost their money in AFC. One of my senior colleague retired at 55 with only few thousand dollars in OA for withdrawal. Another retiree complained to his MP to withdraw CPFIS. Not fit for ordinary cpf members for investing.

    1. CW,

      That's why no schools will allow financial literacy talks to their students on Earn More vehicles - try promoting cryptos, options, futures, ETFs, equities; etc.

      The moment students lost money and parents complain to MOE, that's career ending for the educator who organised the talks.

      Parents whose children failed exams may even pin the blame on you for "distracting" their children from their studies!?

      The smarter move is to be like IKEA and Mcdonald where they "groom" their customers from young - children IKEA and Happy meals anyone?

      Just share about Save More vehicles, the wonders of compounding, etc. Placebo stuffs. Can't get rich quick; but can't lose money either!

      Once "trust" and "faith" are established, you "upsell" them to Earn More vehicles when these little kids have become cash cows after leaving school ;)

      Big daddy's CPF website is clearly all about Save More.

      How many will "guai guai" stick with it?

      Some have already started playing with S&P 500...

      History rhymes... (But this time big daddy got cover their backsides as the pipe piper is not them anymore!)

  2. Happy 55th birthday. Go take some time off and pamper yourself silly. 55 yo is one of the critical life milestones, more so since our gahmen "gives" us the "key" to unlock our CPF savings. I recalled you said you will take out whatever you could from your CPF when you turn 55. But no pressure. Its your money and your choice. 😜. You know I would not take the money out, but let it compound safely.

    I used to look forward to 55 when younger. Looking forward to having more "me" time and envying relatives and friends who were already there. But 55 came quickly and I still felt young physically and mentally. Plus with a lot of unfinished "business", I just felt 55 was way too young for anyone to retire!

    So here I am still slogging it out at 61. I need to work another 4 years to achieve my personal financial goal. Looks within reach but give myself 4 years so less pressure.

    The other reason being that I am in my golden period of wealth accumulation. This is the period where :
    1. Salary has peaked / peaking
    2. Financial commitments have tapered off
    3. Investments are bearing fruits

    People should stretch this golden period as long ss possible. Because the wealth accumulation accelerates during this stretch.

    1. mysecretinvestment,

      Thank you!

      It's part of my "cultivation" to "hungry eat; tired rest". I've been pampering myself since age 44 ;)

      Lazy degenerate manwhore me! (It's also a hedge against what if tomorrow never comes?)

      Yup, thanks to the official "loophole" where I can pledge my humble HDB 3 room flat, leave behind the Basic Requirement Sum, and take the rest out of my CPF OA out :)

      I'm not a fan of negative yielding vehicles.

      Another bonus is I can "squeeze blood from stone" out of big daddy in 10 years' time.

      I can tap the Lease Buyback Scheme (LBS) and use the proceeds to top-up my CPF to Full Retirement Sum (FRS). This "topping up" would qualify me for a $30K bonus from big daddy ;)

      We are doing similar thing - you squeeze interests; I squeeze subsidies. LOL!

      I'm a firm believer in "8 immortals crossing the Eastern Sea". This watering hole would be so boring if everyone just says or do the same thing! You know, the yalor, yalor clones!

      It's a lot more fun if we can poke each other, and have intellectually stimulating debates while crossing the Eastern Sea in our OWN WAY ;)

      I'm the court jester; not a shepherd.

  3. Smol,

    Why follow the Authority's direction on the official age? You are a classic example of leaving the rat in the tender age of 4* and deviate from the norms. It makes more sense for one to take charge of own destiny and make own decision to cater to his/her desire.



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