• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

Why wp supporters should support cpf issue at hong lim park

makapaaa

Alfrescian (Inf)
Asset
[h=1]WHY WP SUPPORTERS SHOULD SUPPORT CPF ISSUE AT HONG LIM PARK[/h]
Post date:
16 Aug 2014 - 1:10pm








Dear WP supporters
Many of you must have been disappointed with your MPs who have preferred to play it safe in Parliament. Since GE 2011, after 38 months, the issue on CPF transparency and accountability has not been addressed by the PAP government. It is obvious the CPF protest rally at Hong Lim Park (HLP) is more effective than Parliament. A higher turnout at HLP will see more questions raised in Parliament. Since the CPF issue also concerns you, your family and friends, your presence is needed at HLP on 23 August.
About 250,000 citizens voted for the WP but the recent turnout at HLP confirms very few of you were even bothered despite the large number affected by the CPF issue. We are at a historic juncture. A 5% of turnout will expedite necessary reforms of our failed pension system. The CPF system has been detrimental to Singaporeans and must be revamped. Why?
The numbers in our CPF pension system look impressive but we actually do not have a real pension system ie 64% of CPF contribution goes to supporting unaffordable housing prices, 17% to exorbitant healthcare costs with the balance 19% into the Special Account (SA). (Total CPF contribution 36% – 23% OA, 6% MA, 7% SA)
In other countries, savings meant for retirement is just that. Our CPF is being controlled by politicians to perpetuate their power which has been used against the people ie to mask and support ridiculously high cost of living.
Even the SA had been tweaked and allowed to be used for housing in 1999 after the 1997 Asian financial crisis when employer’s CPF contribution was drastically reduced by 10%. This constant tweaking is to support housing prices and has nothing to do with our retirement!
In view of the above, if the government does not revamp the CPF system, Singaporeans should revamp the government.
Forget about waiting for answers from Parliament because without the HLP protest, CPF questions would never have been asked. You have witnessed Roy’s impressive efforts which have been effective and had awoken MPs from their slumber . Do not sit back and let others do the work while you reap the fruits of their labour.
You are also likely to have friends or relatives who urgently NEED their retirement funds. Funds which have been taken away and locked up by the PAP. Perhaps you have parents who may be less educated and believe they are in a hopeless situation?
(At the recent rally, dejected looking elderly Singaporeans in their 60s and 70s appeared to have attended the rally by themselves. It was a pitiful sight.)
There have been lots of sacrifice by Roy, hundreds of hours digging up hidden information and writing articles, losing his job and a date with the judge next month. Two hours of your presence at Hong Lim Park should not be too much to ask of you. If you are not supporting Roy, think of it as helping yourself, family and friends.
How could Roy, an ordinary citizen, manage to have more questions raised in Parliament on the CPF issue than all 80 PAP MPs? They are truly a disgrace to Singapore but what about WP MPs? Frankly, it is not about PAP’s numerical superiority in Parliament, an oft heard excuse.
Your MPs must not allow the PAP government to constantly wriggle out of the CPF issue and make Parliament look like a walkover.
Till today, we still do not know the following:
- What is the remuneration, in millions, of GIC directors?
– What is GIC’s actual portfolio value ie are investments (including estimates of private equity) marked to market?
– Why is GIC investing in hedge funds which carry high risks and could potentially go bust?
How much in management fees, in hundreds of millions, are paid to external fund managers?
– What is the actual amount of CPF monies managed by GIC ie CPF is also used to fund HDB loans?
– Why doesn’t GIC list a single asset when the largest SWF managed by NBIM has listed more than 8000 equities, 1000 bonds and other property investments on its website?
– Why are OUR retirement savings part of the Singapore’s reserves and given a low guaranteed interest rate returns?
etc






The PAP government has been concealing information from the public and you have also witnessed the PAP government caught with their its down – “the Ministry of Finance finally admitted for the first time ever that they take the CPF of Singaporeans to invest in the GIC”. Can you trust a government which has been trying to hide information for 3 decades, information which should have been made publicly available?
The PAP will not listen because policymakers are not affected by every policy/tweak they implement. The PAP wields total power over citizens, has not been listening for decades and there is no reason for an arrogant party to willingly do so now.
Do not indulge in wishful thinking anymore or believe no change will come about from your attendance at the protest rally. The power of change is in every citizen’s hands. It’s time to take responsibility for your retirement savings if you do want them returned to you and not continually be shortchanged by PAP’s tweaking.
Support the WP but let your MPs know they have gotten nowhere as far as the issue on CPF transparency and accountability is concerned.
Roy has organised another #ReturnOurCPF at Hong Lim Park next Saturday. Be responsible for yourself. Be there.

Phillip Ang
*The writer blogs at http://likedatosocanmeh.wordpress.com/
http://therealsingapore.com/content/why-wp-supporters-should-support-cpf-issue-hong-lim-park
 

eatshitndie

Alfrescian (Inf)
Asset
they already have mp's in parliament as their platform to sound out their voices. why do they need to stand with the lunatics and clowns who have zero presence in parliament and the only platform these loonies have is a dirt mound on a grassy knoll in a park? and thanks to the pap for dedicating that park for shoddy entertainment. :biggrin:
 
Top