2 in 5 not confident about retiring

I refer to the article “2 in 5 adults in Singapore not confident about retiring: Survey” (Straits Times, Jan 5).

It states that “Only 36 per cent believe they can retire comfortably with their current savings and investments, while 30 per cent expect to downgrade their current lifestyle and habits when they retire”.

Shouldn’t it be “2 in 3” not confident about retiring?

So, there may arguably be something not so appropriate with the caption of the subject news article – “2 in 5 adults in Singapore not confident about retiring: Survey” – shouldn’t it be “2 in 3 adults” instead of “2 in 5”, since “only 36 per cent (1 in 3) believe they can retire comfortably with their current savings and investments”?

Only 1 in 5 Singaporeans met Minimum Sum at 55?

The above is perhaps underscored by the estimated number of Singaporeans who met the CPF Minimum Sum entirely with CPF at age 55, at only 18.5 per cent, despite having the highest pension contribution rate of up to 38 per cent of income in the world.

How much CPF returns kept from S’poreans?

What is the historical weighted average interest on all the CPF accounts, and the annualised returns of GIC since its inception, so that we can estimate the average difference in the returns (3% estimated) derived from our CPF funds that were not returned to CPF members?

With estimated CPF balances of about $288 billion now – the loss (“excess returns”) to CPF members in a year may be about $6 billion (3% of $288 billion).

Over the years, this cumulative loss (“excess returns”) by the people including accrued interest may be in the hundreds of billions.

Govt not spending a single cent on CPF?

Is the Government not spending a single cent on CPF from a cashflow perspective?

Leong Sze Hian