Minimum Sum not needed here

ST Forum, The Straits Times, February 9, 2007

I REFER to the letter, 'Be more flexible on CPF Minimum Sum' (ST, Feb 5). My wife and I retired from government service in 1996. We withdrew our CPF to help pay for our property. Because we depleted our Minimum Sum account, the CPF Board now holds the title deed as a pledge.

The Minimum Sum is to help a member be financially independent in old age. However, our monthly pension is enough to meet our living expenses, and we are covered by the Medical Entitlement scheme. Why do we need to maintain the Minimum Sum?

Tan Kai Kiat