What is the rational of not allowing withdrawal of CPF for West Malaysians?

Question

Pretty much the same treatment with Singaporeans. Of all foreigners working or have worked in Singapore, only the west malaysians are not allow to full withdrawal of CPF when they leave Singapore. What could be the possible reason behind this policy? Singapore government has no disclosed and will not likely to disclose the reason of this policy. What do you think?

1. As a bargaining chip with malaysian government on major issues? or

2. As extra government fund for investment?

3. Or as security for those west malaysians and their families who have contributed in Singapore in times of crisis?

Answer 1

What are the withdrawal policy for their Employee Provident Fund in Malaysia for foreigners working there including singaporean? If  you are leaving for good and not return to work in our country I'll think they will be able to do so.  Each day 20,000 or more leave malaysia into singapore to work legally and illegally that why the foreign worker levy is enforce to tackle this problem because west malaysia is easily link by road to our country.  I think CPF Board will be able to give their view regarding their policy regarding these issuse

Answer 2

I am a Singaporean,

personally, I am not happy with that policy.

I feel that I have no say on my very own hard earned money, same to all other people here.

Very soon, I may be forced to buy annuity even though I strongly against it.

As for your case, go to CPF board, tell the front desk you want to talk to an officer.

Ask him or her to explain to you, when and how, you can take back your hard earned money.

Well I hope your situation will not be like mine.......

Wait long long, still cannot take. OR

I am not sure I can live that long to touch it.