Board Director & Head of Asia Pacific,
THE lump sum withdrawal and the Lease Buyback Scheme extension essentially put more cash into the hands of retirees. This is welcome as it gives them more control over how they would like to fund their retirement. But how the lump sum withdrawal will affect their monthly CPF payouts remains to be seen and it is unclear how the government will value the leases it purchases. The changes announced by the Prime Minister during the National Day Rally are part of a long-term effort to rebalance the CPF in the direction of greater individual choice.