Serious ST: Stupid Sinkies Don't Appreciate That CPF Is Damn Good!

Leongsam · Aug 29, 2016

halsey02 said:
It is my money, I earn that money through my blood , sweat & tears...which stupid people in the world except the 70% voters have trusted their money to another ??

I DONT & IT IS MY WISH IF I SPEND EVERY SINGLE CENT OF WHAT IS GVEN TO ME ON WINE WOMAN & SONG...I EARNED IT....only STUPID PEOPLE LEAVE THEIR MONEY TO OTHERS TO DO WHAT THEY WISHES WITH IT & ENJOY THE FRUITS OF IT...EVEN I BECOME, BROKE, DESTITUTE & DESOLATE..you can throw me in the dumpster....THAT IS MY WISH.

No one on this earth can tell me, whether I am competent enough....with my money...

You should count your blessings. In the West the money is simply stolen from you at source and you never see it again.

The CPF scheme allows you to control your finances even though you may not be allowed to withdraw all the money and close the account. You also decide who you'll leave the money to.

halsey02 · Aug 29, 2016

Leongsam said:
You should count your blessings. In the West the money is simply stolen from you at source and you never see it again.

The CPF scheme allows you to control your finances even tho
ugh you may not be allowed to withdraw all the money and close the account. You also decide who you'll leave the money to.

You don't have to preach me on what the West etc.. I have my peers living in almost every corner of this earth almost.....in Tampere, Finland, A commune in Isreal, one in Sweden, Australia, new Zealand...Calgary, Toronto, Ontario Canada..LA, Washington DC..

Let me decide who I leave the money with & my incompetency if I leave it with a fund manager who run off with it...BUT NOT TO PEOPLE, WHO HOLD ONTO IT & CLAIM & CHANGES THE BAR AS THEY WISH ON WHEN I GET MY MONEY.... that is the whole issue.

I would love to leave it to CPF to invest my money BUT A CHOICE MUST BE GIVEN TO THE STAKEHOLDER OF THE MONEY, ME!..to take it all out & blew it all away....& you can throw me in the furnace without a box...after I blew it...

GET MY POINT?

Leongsam · Aug 29, 2016

halsey02 said:
GET MY POINT?

No I don't. In the West a huge percentage of your income will be confiscated by the state never to be seen again. The money goes towards sustaining the losers of society who can't be bothered to earn a living for themselves.

In Singapore the CPF scheme deducts money from your earnings but places it in account in your name which you can then use to buy property and other approved assets.

Only a small percentage is retained by the government. The bulk of your funds is available for withdrawal. I withdrew more than $600,000 from my account recently and the process was swift and straightforward.

You should be thankful for what you have instead of constantly complaining.

flatearther · Aug 29, 2016

From my point of view (which other people might have also already realized before), the so-called "employee's contribution" is actually used to brainwash adult Sinkies into thinking that the money is theirs, so that they (or at least the majority) keep on voting for the PAP until the end of the world. :wink:

The truth is that both the employee's and employer's "contributions" are part of the overall:
wikipedia.org/wiki/Payroll_tax
paid by the employer only.

So for example, if the "employee's contribution" is 20% and the "employer's contribution" is 16%, that would mean for every S$80 the employee takes home every month, the employer has to pay/lose an additional S$36 to the government; or in other words, S$45 for every S$100.

It is basically a part of the overall tax on employers only, in order for the government to set aside mainly for the basic necessities of middle-class Sinkies, especially after their retirement at the start of old age (and 60 is the usual symbolic start).

But before they retire, the government (together with the upper class, of course) wants them to slave their youth and middle age away.

Therefore, to slave or not to slave?
That is the question. :wink:

Leongsam · Aug 29, 2016

flatearther said:
Therefore, to slave or not to slave?
That is the question.

Nobody is forced to slave. I never slaved at any job. I just did what I needed to do in order to achieve financial independence.

shittypore · Aug 29, 2016

halsey02 said:
It will be the PAP who is holding your CPF...that you will be sleeping in the void deck, which the Bangla worker, live a dormitory that had all sorts of facilities & FREE WIFI....you sleep in the void deck you have no money , you don't even have free wifi....see how much these people are being looked after....you gave your CPF...you would not see much of it till maybe 70 & take a bit out till 99... By the time you reaches 70....they PAP may tell you..." we are so sorry, the money invested , we lost a great deal" " can you survive on the void deck with $300 a month"???

Sleeping at the void deck...is a privilege for Singaporean....

I noe of a Chap yrs back who had to sleep at the Hawker Centre Toilet area after his Pigeon hole was repossessed by the Bank. He was give the diff after the sale, but the amt went into CPF. The Cpf board allocated to him 500 per mth, he had abt 50k over in CPF, with 500 he cud not rent a room as he need to fill his stomach, he was 58 yrs during tat time. After living at the Toilet area for almost 1yr, i heard he died.

yahoo55 · Aug 29, 2016

Sinkies spend most of their CPF on ridiculously high leasehold property prices and expensive public hospital bills.

For many years, PAP has used their CPF policy to artificially boost land prices for SLA and property prices for greedy developers until most Sinkies don't have enough for retirement and have incurred very high household debt.

https://likedatosocanmeh.wordpress.com/2016/08/04/20160804-is-cpf-board-solvent/

The PAP has been tweaking the CPF system for decades without addressing the underlying causes of our huge retirement shortfall.

The objective of every review and tweak is to channel and retain more CPF funds in GIC.

For decades, PAP has been channeling a disproportionate amount of retirement funds to support exorbitant housing prices. This is one of the causes which has never been addressed.

CPF allocation rates:
a. 23% for housing (62% contribution)
b. 8% for medical (22% contribution)
c. 6% for retirement (16% contribution)

Common sense dictates a huge reduction from 62% allocated to housing and a corresponding increase for retirement. But after decades of artificially boosting property prices using CPF funds, a necessary change in allocation rates will cause housing prices, together with GDP, to collapse.

It appears our Malaysian neighbour has more common sense: their EPF is separated into 2 accounts where 70% of contribution is used for retirement and only 30% for housing. link

Leongsam · Aug 29, 2016

yahoo55 said:
Sinkies spend most of their CPF on ridiculously high leasehold property prices and expensive public hospital bills.

For many years, PAP has used their CPF policy to artificially boost land prices for SLA and property prices for greedy developers until most Sinkies don't have enough for retirement and have incurred very high household debt.

All successful cities are expensive. It's the clearest indication that it is thriving.

You should take a look at this photo blog. It is a stark reminder to be careful what you wish for.

http://www.dewitzphotography.com/pe...the-united-states-detroit-mi-and-braddock-pa/

The_Hypocrite · Aug 29, 2016

The CPF is a better system than those high tax welfare crap left wing bleeding heart liberal fuck wits love n promote even though it's proven to be a disaster. However in its current form. CPF needs to be modified to givie its members greater benefits n end the paps rent seeking behaviour.

bodycells · Aug 29, 2016

Leongsam said:
Nobody is forced to slave. I never slaved at any job. I just did what I needed to do in order to achieve financial independence.

The normal sinkies never thought of having a way to financial freedom. They thought that a job can do that for them. So they become human robots without using a brain. That is equal to being a slave. They are not educated to be really financially free.

NasiLemakMan · Aug 29, 2016

bodycells said:
The normal sinkies never thought of having a way to financial freedom. They thought that a job can do that for them. So they become human robots without using a brain. That is equal to being a slave. They are not educated to be really financially free.

Yes, being a tuition teacher and selling Nasi Lemak does give one financial independence.

lifeafter41 · Aug 29, 2016

Leongsam said:
No I don't. In the West a huge percentage of your income will be confiscated by the state never to be seen again. The money goes towards sustaining the losers of society who can't be bothered to earn a living for themselves.

In Singapore the CPF scheme deducts money from your earnings but places it in account in your name which you can then use to buy property and other approved assets.

Only a small percentage is retained by the government. The bulk of your funds is available for withdrawal. I withdrew more than $600,000 from my account recently and the process was swift and straightforward.

You should be thankful for what you have instead of constantly complaining.

What's the amount retained in your case?.
It should be under the RA and Medisave acct, in this instance.

Leongsam · Aug 29, 2016

lifeafter41 said:
What's the amount retained in your case?.
It should be under the RA and Medisave acct, in this instance.

Can't remember the details. This was my statement before the withdrawal.

I thought of withdrawing more cash but the interest rates have been phenomenal thanks to Mdm Ho.

flatearther · Aug 29, 2016

Leongsam said:
Can't remember the details. This was my statement before the withdrawal.

Wow! the real estate you invested in must have at least doubled in value, right? :eek:

Leongsam · Aug 29, 2016

flatearther said:
Wow! the real estate you invested in must have at least doubled in value, right?

Yup it worth 2.6 times what I paid for it.

Wangfeng · Aug 29, 2016

flatearther said:
Wow! the real estate you invested in must have at least doubled in value, right?

For a person in the mid 30s like you, who refuse to work and rely on running down your father's money, plus the fact that you do not even bother to vote, you certainly talk a lot of Cock.

I am sure you do not have much in your CPF. Don't talk Cock and hoodwink others here, Twit.

chootchiew · Aug 29, 2016

Leongsam said:
Can't remember the details. This was my statement before the withdrawal.

I thought of withdrawing more cash but the interest rates have been phenomenal thanks to Mdm Ho.

I heard the excess above the minimum sum, if we didn't withdraw at 55, we can treat it like a bank but enjoy a higher int %and can withdraw any amount at anytime, is it true ?

Leongsam · Aug 29, 2016

chootchiew said:
I heard the excess above the minimum sum, if we didn't withdraw at 55, we can treat it like a bank but enjoy a higher int %and can withdraw any amount at anytime, is it true ?

Yes it is true. That's why the PAP IS THE BEST!

chootchiew · Aug 29, 2016

Leongsam said:
Yes it is true. That's why the PAP IS THE BEST!

wow, then is really good. The catch I know is that cpf board disallow cash top up above the MS for this reason. The most I can top up is to the current MS.
It will be good if the draw down age is 55 to 60 to be fair. Also the medisave portion needs to relax it for usage when above 55. Currently only 65 onwards can truly see their medisave.

halsey02 · Aug 29, 2016

Leongsam said:
No I don't. In the West a huge percentage of your income will be confiscated by the state never to be seen again. The money goes towards sustaining the losers of society who can't be bothered to earn a living for themselves.

In Singapore the CPF scheme deducts money from your earnings but places it in account in your name which you can then use to buy property and other approved assets.

Only a small percentage is retained by the government. The bulk of your funds is available for withdrawal. I withdrew more than $600,000 from my account recently and the process was swift and straightforward.

You should be thankful for what you have instead of constantly complaining.

I want my money back at retirement....& nothing to argue or compare about, who does not know the taxes in USA, Australia etc....just google... I have stated have friends all over the globe settled down in so many countries....I am aware of what they pay in taxes etc...

I don't trust any government holding onto my money & at retirement like what CPF started 50 years ago until LHL became the PM & changed the rules...at 55 years.....you retire, CPF give you a cheque for the entire sum....my relative I helped to collect that cheque ( I remember & still have the copy of it from Overseas Union Bank at Battery Road) in 1983 & my friend & colleague who retired in that same year got it too...

My point is still...I don't bloody f%$%&% care of any schemes etc..whether it pays 1001% rate of I....at retirement, say 65 or 67...I want all money...

No need to tell me, other country this & that..I live here...this is what I want...all my money at retirement like it was before they started changing the rules & started implementing min sum...this & that.....

At retirement....my money...no need to talk explain I am not complaining...I am insisting.

Serious ST: Stupid Sinkies Don't Appreciate That CPF Is Damn Good!

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