Been meaning to react to this, but I forgot - so shoot me.
Big piece of news recently about the Gahmen reducing the mandatory EPF contribution from 11% to 8% starting next year so that people would have some more disposable income to deal with the economy and the rising cost of stuff. Frankly speaking, I don't think this is one of their better ideas.
The big hooha is that the 8% is mandatory - if you don't mind it at the current 11%, you have to fill out a form to stay in. I don't know about you, but shouldn't it be THE OTHER WAY ROUND?! HELLOOO...???
Look, we all know that you cannot survive on what you contributed to your EPF (Employees' Provident Fund) account when you retire. Seriously. Fortunately, there are other ways to invest your money (stock market's great to buy at the moment, haha)...
I got mixed feelings about this - on one hand it means that got extra disposable income lah; on the other hand, the money would be pointless on people who have no savings whatsoever... so I don't know. I still haven't completed that other EPF form, nominating who'll receive my EPF money should anything unfortunate happen to yours truly....
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