CPF, a simple effective schemeinto a complicated failed scheme

When the CPF was first introduced it was a simple savings scheme for
retirement. You put some money aside and when you retired you take
everything out at 55. Simple and neat. Under that system and at one time
at 25% + 25%, if I am not wrong, the savings grew rapidly, helped by 6%
or 7% interest rate. Everything was fine, really. There were great
trust and faith in that system.
 
When the