There could be a lot more to it if you dig deeper - like really deeper.
There is a reason why most financial advisors actually advise you to keep your money with CPF.
Not because CPF pays them, but because CPF as a scheme is quite good - except the part where you cannot withdraw money as and when you like.
Instead of looking at the CPF Retirement Sum as a sasaran where you can withdraw money after a certain age, look at it as a Savings + Medical + Life + Home + Annuity insurance plan.
Savings Insurance
It helps you save up money for housing, medical, kids' education, and retirement.
The "forced to contribute" part ensures that you really save your money every month.
The "cannot withdraw" part ensures that you do not anyhow withdraw this money to spend it.
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Medical Insurance
We have got Medishield Life, Eldershield, and other medical insurance schemes that are paid by the Medisave Account.
Medishield Life covers you regardless of your age or pre-existing conditions.
Most private insurance will not cover your pre-existing conditions - if you have asthma since young, chances are you are not going to be insured for it under your private health insurance plan.
However, it will be covered under the Medishield Life.
Life Insurance
In the event that you passed away, all your CPF money will be passed to your dependents.
If you had bought the