There have been thoughts on whether the CPF fund can be withdrawn when one reach the official retirement age of 55 and subsequently at 70. This is common in the country which I currently reside. I previously mentioned in my previous post that I may need to tap on some of the CPF saving in about 18 years’ time. This is with the assumption of the conservative return on my investment portfolio. It will be more prudent to assume the worst case scenario in which I am unable to withdraw a single cent on the basis of the implementation of policies imposed by the Authority. It is possible for the Authority to change the existing policy which disallows the withdrawal of CPF monies in one’s lifetime. The Authority can confiscate the monies by way of the policies change.
In view of the above, it makes sense for me to rely solely on the investment portfolio which generates the dividends to cover my expenses. This will also mean that I take some part-time employment to supplement the generated dividends. I cannot depend on the CPF monies as part of the retirement plan to cover the expenses. If I can withdraw CPF monies at the said age, it will be good and considered as an additional bonus for me. If no, I will make full with the worst case scenario and apply my strategy accordingly. It is always good to have options.