| Summary: | The current CPF system has been promoted as a platform of individual responsibility by encouraging Singapore citizens to be more self-reliant instead of depending on state handouts. Although its original objective was to enable citizens to enjoy economic security during retirement, the fact that it has extended its purview to cater to other imperatives such as home ownership and education has also led to public perceptions of the inadequacy of the retirement scheme in fulfilling its intended purpose. Interviews with respondents of the working class aged 45 years old and above will be conducted in order to seek a better understanding of public sentiments with regards to the CPF framework. An analysis of the data shows generally negative evidence, particularly towards the redistribution of wealth and assistance to the lower income bracket who may not have sufficient retirement funds. Subsequent recommendations towards enhancing the CPF as an apparatus for retirement shows a trend towards more autonomy and more assistance for the needy.
Key words: CPF framework, Pension, Self-reliance, Social safety net, Collective responsibility
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