I am rather surprised to see below news about CPF today, obtained from Channel News Asia -> URL:
"More than half of workers reaching 55 years of age are not able to achieve the Minimum Sum - the amount needed to give them a regular income upon retirement at 65 - even after they pledge their property value. Less than 30 per cent are able to meet the Minimum Sum entirely in cash."
Now, less than 30% of Singaporeans are able to meet the CPF Minimum Sum of S$155,000 entirely in cash! If so, why need to keep increasing CPF Minimum Sum since so few people can achieve it?
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