They keep increasing the minimum sum is to deter members from withdrawing money at 55. If everybody can draw a lump sum of a few 10K like previous system, CPF will not have enough cash for everyone (all locked up in investment). Hence the ultimate aim of this minimum sum is to make sure at age 55 >90% is not eligible for withdrawal due to not enough money.
Their justification is that inflation and increased cost every year, in which adjustment is necessary. Seriously CPF oso adjusted for inflation and rising cost of living, BUT NOT OUR WAGE! what bullshit is that? Another act to benefit the govt as the expense of the citizen?
It seem that he is indirectly contradicting what PM Lee conversation with SCCCI on making business relationship.
PM Lee tell SCCCI members in a conversation to make decisions base on meritocracy and not on relationship. Pulling string will be not fair and hurt harmony. BUT if you follow Khaw advice, you will need lot of lobang, good network of connections (as what our AB members mentioned) in order to be successful. Otherwise you will need to have merits, which is usually your paper qualification! If you do not have both, you are likely to be died in SG!
Same party, different standings? or are all these propaganda just to benefit them at the expense of our younger generation?