NCMP Professor Walter Theseira asked Minister Josephine Teo how much is the average Singapore elderly getting in their CPF payouts after they turned 65 years old
And Josephine Teo replied that 74% had monthly payouts under $500.
That has got to make a good headline. And it is such a good headline that The Online Citizen will need to write about it.
You got to be kidding me if you think I can survive on $500/mth.
Josephine Teo provides further break down on the amount that each elderly age group have gotten:
This looks really poor, and you wonder how the elderly could survive with this amount. That is like $900/mth for 2 person. We will revisit this perhaps later.
I felt that there are some data that is provided by Josephine Teo that was not broken down properly.
Josephine Teo updated that of those elderly that received payouts,