Allow partial CPF withdrawals now (ST 13 March 2009 - pA22)

In today's papers, Gary Chua wrote a letter appealing to the CPF Board to allow "eligible members who have healthy balances, and who are currently not using their CPF savings, to withdraw a small part of their savings before the age of 55."

Totally agree with him in principle. What talk is there about retirement funding when you have serious problems making ends meet today? Of course, it shouldnt be a free for all where we treat it like our ATM machine but only when certain conditions are met. I mean, its ultimately our money and if the garment can tap on the national's reserves, after blowing our tax money on stupid investments like UBS, CitiBank, why cant we?

Hmmm...sound like a great idea. My cynical verdict = BALLS!!! If we can tap on our CPF money, where would our garment find money to pay themselves fat salaries and invest (or lose) money on crappy deals. Dream on guys!!!