Do you have any other savings besides your CPF? Are they enough? A lot of Singaporean thought that CPF savings is enough to see them through retirement, including one of my family member.
The real fact is, CPF is not enough for your retirement expenditure! It may provide about 25% of the retirement needs. And much less if you are using your CPF for housing loan and children education loan! So, start a good savings habit by investing regularly a fixed sum of money. You will be pleasantly surprised that a $200 savings per month at age 23 will yield about $0.5million when you turn 60 years old, assuming the rate of returns of 8% per annum.