why malaysia not asking singapore to release malaysian cpf savings?

Question

do not understnad why only west malaysian cpf savings are held back till age 50

Answer 1

Is for your best. The MY govt have been raiding the epf. Safer to be in Singapore and not be transferred to the MY govt.

Answer 2

The malaysian government has no right at all to ask singapore government to 'transfer' the cpf money to it malaysia cpf account. The word 'release' is not appropriate because the money don't go back to his citizen but to the malaysia cpf board or equivalent for person below certain age.

In the early days, singapore treats west malaysian workers like singaporean, cpf is a form of forced saving to ensure everyone has some money when he reached 55 and above, medical bill, day-to-day expenses etc. not exactly for entertainment, tours etc after one stop working. However, many have been thinking that it is their right to spend it like striking jackspot, the moment money goes to their hands, it gone in a short period and expect the government to held responsible for their survivable in their rest of their lives, free medical, free housing free......etc. Where we get so many free things in the world if one dont work but asking the working ones to free them of financial troubles.

However, during our trouble time with the anti-singapore great 'M', to prevent friction, malaysian worker is treated as any foreign worker (same as east malaysian) - pay levy loh not refundable as cpf.

However, this applied to new work permit holders, those already work here before the levy started can only allow to draw out cpf if they declared that they will never again work in singapore (regardless of age) or reach the age of 55.

It is always advisable to have the cpf money with Singapore government than with Malaysia governent. It is 100% save and treat it as a retirement fund at age 50. It is the worker money not the government money.

Answer 3

My guess is that most of the withheld CPF savings belong to Malaysian Chinese who are working or have worked in Singapore. The amount is quite huge. If the Malaysian govt pressures Singapore to release the CPF, the Chinese would have more money to use or invest and this may upset the financial trend in the country and cause disharmony among the races.

Answer 4

singapore government want to use poor malaysian money to reinvest in their country..
i think this is not fair due to its the people's money..
if their reason is to hold the money till age 50.. i think they better of discuss with malaysia epf in how to transfer the money to them..

their government is not making a fair deal here..

Answer 5

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