CPF may have some issues, but it's nothing like the US Social Security system, and that's a good thing!
CPF may have some issues, but it’s nothing like the US Social Security system, and that’s a good thing!

There have been many articles and blogs lately about the fairness and viability of the Singapore CPF. As a new PR to Singapore, I know that I have much more to learn and understand on this topic; in no way do I claim to be an expert in it. But I am quite familiar with the US Social Security scheme, its current status and future viability. Since one blogger in particular has compared the two retirement schemes, skewing his findings in favor of these western schemes, I would like to shed some light on some of the “heart truths” about the US Social Security system (all backed by references, of course). (more…)