>You can use the saved funds for health care, housing, education, and a limited number of other needs until retirement
A lot of people earn very little and use CPF all up on housing and healthcare (especially if they have a health problem) and are left working menial jobs mopping floors practically until death.
It's pretty heart-rending to see elderly hunchbacked men and women cleaning up empty dishes (or selling tissues) underneath glittery multimillion dollar condos built by Bangladeshi migrant workers, but that's Singapore.
A lot of people earn very little and use CPF all up on housing and healthcare (especially if they have a health problem) and are left working menial jobs mopping floors practically until death.
It's pretty heart-rending to see elderly hunchbacked men and women cleaning up empty dishes (or selling tissues) underneath glittery multimillion dollar condos built by Bangladeshi migrant workers, but that's Singapore.