IS CPF AN INDIRECT FORM OF TAXATION?

Singapore may have low direct taxes, but our CPF contributions are a form of indirect taxation.

The government withholds our CPF savings via the CPF Life scheme and only returns it to us in small monthly instalments after retirement age. The opportunity cost in forgoing the use of CPF money constitutes an implicit financial penalty on Singaporeans.

Check Also

Bottle Of Wine Inside Luggage Smashed Into Pieces On Flight To SG

It was definitely because of mishandling of my luggage by United Airlines! I booked my tickets through Expedia, who were also not responsive!