You call this 'more protection'?

The way I see it, this is nothing more than a tweak in the administrative process. It is the same pool of retirement fund that you have built up, nothing more nothing less, just a tiny bit more control over how you can now administer - ironically - your very own money.


To families with children with special needs who are already struggling to make ends meet and seeing their CPF depleting away for the roof over their head, I am not sure how this kind of half baked policy is going to further protect them?


one thing for sure, in the ivory towers, there are no such families.




http://www.straitstimes.com/Parliament/Story/STIStory_736604.html

"The CPF Board is stepping in to help provide a measure of financial security to children with special needs, when their parents are no longer around to care for them.

This will be done through a new Special Needs Savings Scheme (SNSS), through which parents can arrange to have their Central Provident Fund (CPF) savings disbursed in monthly payouts to their disabled offspring after their deaths

The scheme was one of several changes to the CPF Act passed by Parliament on Monday

Usually, the savings of a CPF member who dies are distributed to his nominees as a lump sum.

"