CPF!!! Good Or Bad???

[HK14K]

A young boy who rose to the occasion by claiming that SG PM misappropriate the CPF funds and the whole nation is watching!!! So is CPF good or bad for Singaporeans????

1. Those cowards who curse n swear at the govt, are you staying in a HDB??? How many Singaporeans did actually fork out cash to buy a HDB that is within their budget??? Even to the extent after the initial down payment that can be paid by CPF, the remaining sums in the CPF can be used for monthly installment to pay off.

2. When Singaporeans sell off their HDBs which earns them a profit of about 80% or more compare to the purchase price, did all this clowns say that the SG govt are good to allow them to make such a handsome profit. Of course some clowns here will like to act as if they have seen a BIG SNAKE PEE before and claims that a few hundreds K is nothing but we talk about percentage when it comes to P&L.

3. If CPF is a lousy scheme, why does other cities n countries loves to copy the style of Singapore CPF scheme not mentioning other policies.

4. Look at countries like China, the younger generations do not have the ability to buy houses at all. They can only pray that they are borned into a well doing family if not wealthy to buy a house for them.

5. If you dun like the CPF scheme, move on... I've not contributed to CPF for more than 12 years and my CPF only have about thirty odd thousands which is consider a small sum compare to many others.

If so many of you in this forum claims to have see a "BIG SNAKE PEE" and are so wealthy, just move on to another country which you guys keep claiming its better than SG.... As long as you dun work in SG or any SG company in SG, you dun have to contribute to CPF which will not bring you so much of headache!!!

 

[HK14K]

Chinese Pigs like you invented CPF to cheat Malays...Go fuck off to China

:kma: Oh.... So you're one of those Malay Barbies who's a loser!!!! No wonder during my NS times, malays are always being insulted as PIGS!!!!

 

[Leongsam]

I say it daily.... CPF is the best scheme ever.

 

[winnipegjets]

A young boy who rose to the occasion by claiming that SG PM misappropriate the CPF funds and the whole nation is watching!!! So is CPF good or bad for Singaporeans????

It is claimed ...not proven. Have you sentenced him?

1. Those cowards who curse n swear at the govt, are you staying in a HDB??? How many Singaporeans did actually fork out cash to buy a HDB that is within their budget??? Even to the extent after the initial down payment that can be paid by CPF, the remaining sums in the CPF can be used for monthly installment to pay off.

CPF is supposed to be a retirement fund, not housing.
It is because of this misuse of the CPF that the overpriced social housing is accepted by sinkees. If they have to pay out of pocket, the price shocker would have led to the overthrow of the PAP long ago.

2. When Singaporeans sell off their HDBs which earns them a profit of about 80% or more compare to the purchase price, did all this clowns say that the SG govt are good to allow them to make such a handsome profit. Of course some clowns here will like to act as if they have seen a BIG SNAKE PEE before and claims that a few hundreds K is nothing but we talk about percentage when it comes to P&L.

This could have been achieved without using retirement savings.

3. If CPF is a lousy scheme, why does other cities n countries loves to copy the style of Singapore CPF scheme not mentioning other policies.

Because they think that their people can be ripped off as well. If the CPF model is copied, that's a BIG IF and I would like to name which countries are adopting the CPF - the returns would be higher than the inflation rate.

4. Look at countries like China, the younger generations do not have the ability to buy houses at all. They can only pray that they are borned into a well doing family if not wealthy to buy a house for them.

Retirement and housing are too different concerns. You can still live comfortable without buying a house. Look at the Germans where home ownership is not such widespread.

5. If you dun like the CPF scheme, move on... I've not contributed to CPF for more than 12 years and my CPF only have about thirty odd thousands which is consider a small sum compare to many others.

Why can't they stay on and fight for their CPF?

Repeating the same old PAP bs does not make you look any smarter.

 

[winnipegjets]

I say it daily.... CPF is the best scheme ever.

And I say it daily ...CPF is the worst retirement saving scheme ever.

 

[winnipegjets]

6.2 percent contribution fetches you a $1,290 monthly payout (average). Some get $2600 payout.

CPF - 20 percent of your income taken off ...what do you get at the end of the day? Less than the real amount you put in.

US Social Security cheque
Maximum Social Security Benefit:
Worker Retiring at Full Retirement Age $2,533/mo. (2013) $2,642/mo (2014)
Estimated Average Monthly Social Security Benefits Payable in January 2014:
Before 1.5% COLA After1.5% COLA
All Retired Workers $1,275 $1,294

Contribution Rate:
2013 2014
Employee 6.2% 6.2%
Self-Employed 12.40% 12.40%


http://www.ssa.gov/pressoffice/factsheets/colafacts2014.html

 

[winnipegjets]

Let the Government show me how the CPF as a retirement savings fund is better than the US Social Security or the Canadian Pension Plan or the UK Pension Plan.

 

[zhihau]

Let the Government show me how the CPF as a retirement savings fund is better

just return me what i own when i'm 55...

 

[CopyCat]

just return me what i own when i'm 55...

What if you deplete your CPF saving in 5 years time when you reach 60? dun play play you know.

 

[zhihau]

dun play play you know.

i'm more afraid CPF depleting my money when i'm 60

 

[HK14K]

winnipegjets, Open your eyes and read before you even reply. Did i mentioned in my statement saying that he's being sentenced already???

Oh, CPF supposed to be a retirement fund???? Since during the 80s, I remembered Singaporeans are using CPF to pay for their housing already. So if you are currently staying in a HDB, are you paying your monthly installment thru CPF or did you ever used your CPF ordinary account to pay for your HDB?

I think you've an understanding problem here and you're just jumping in to bark for the sake of it.... The profit that many Singaporeans made from their HDB is something that they need not to fork out any cash upfront and making a handsome profit few years down the road....


Please go n do some research before you even bark.... HK adopted to CPF scheme and admit that they copy this policy from SG govt....


So you mean retirement can be comfortable for those old folks to sleep along the street and you call it an enjoyment??? Look at the Germans? Why not look at China or Asia. Why do you have to turn yourself into a yellow banana and how much you understand about the European lifestyle.

Please.... Don't keep repeating the same old nonsense or excuse of "fight on" and etc.... If people like you are fighting it out with the govt, you wouldn't be just hiding behind the computer to swear at the govt.... You can't even hold a candle to those indians who riot at Little India....

Same sentence for you, ask your oppo gangs to come up with something new as well.... I've been in this forum for more than 12 mths and apart from all your coward acts, i can see nothing!!!

 

[HK14K]

And I say it daily ...CPF is the worst retirement saving scheme ever.

If the CPF is the worst ever retirement scheme, then dun contribute.... leave SG and you dun have to contribute to CPF or simply work for yourself in overseas and inform CPF that you're not employed in SG!!!

Also if you are staying in a HDB, dun used your CPF to pay for it if it's the worst scheme ever!!!

 

[HK14K]

Let the Government show me how the CPF as a retirement savings fund is better than the US Social Security or the Canadian Pension Plan or the UK Pension Plan.

You always like to act like a yellow banana n compare with the west. Why dun you moved over there if SG is such a lousy country that have fuck you up so many times....

By the way, do you know what is the percentage of Americans that owns a house in US before you even make comparisions. And what is the percentage of Singaporeans that own a house.

 

[zhihau]

Oh, CPF supposed to be a retirement fund????

from the CPF website, to the right of the CPF logo and under the headings "Central Provident Fund Board", yes. it is stated there as "Saving for Retirement". yah, so i think it should be a retirement fund

 

[HK14K]

from the CPF website, to the right of the CPF logo and under the headings "Central Provident Fund Board", yes. it is stated there as "Saving for Retirement". yah, so i think it should be a retirement fund

Ya, CPF is a retirement fund. Maybe in my earlier reply to winnie the coward i should have include a word "ONLY".

What is retirement? Retirement comes with no worries of housing, medical issues. CPF allows every Singaporean to purchase a house with their ordinary account and even a certain percentage when hospitalized. The CPF can even pay for bills like giving birth to babies.

Take some examples from other countries in ASIA that do not have CPF and when the govt do not care about the aged group. Old folks in China have problem paying for their medical bills coz the moment they step into the hospital, they have to pay first unlike SG. If you're unable to pay, the govt will take care of the bill for you which is proven.

So what is a retirement???? Retirement is illness free or having to sleep along the streets???

 

[zhihau]

What is retirement?

hmm... good points, i think you've raised something important here. there is clear disparity in the understanding of retirement, i.e. different folks take on different understanding on the word "retirement".

for example, my understanding of "retirement" is the cessation of one's professional career and/or active working life. this is rather different from your definition of "retirement" and it will definitely be different from another perspective. even Sam has his own understanding of retirement where one is not financially beholden to any institution and/or anyone.

hmm... good points raised. i think the ten year series need to include this question "what on earth is retirement?"

 

[Sideswipe]

hmm... good points, i think you've raised something important here. there is clear disparity in the understanding of retirement, i.e. different folks take on different understanding on the word "retirement".

for example, my understanding of "retirement" is the cessation of one's professional career and/or active working life. this is rather different from your definition of "retirement" and it will definitely be different from another perspective. even Sam has his own understanding of retirement where one is not financially beholden to any institution and/or anyone.

hmm... good points raised. i think the ten year series need to include this question "what on earth is retirement?"

retirement is when you cease working anymore. whether you have enough money for the rest of your life is another matter. what is the disparity here ?

 

[HK14K]

hmm... good points, i think you've raised something important here. there is clear disparity in the understanding of retirement, i.e. different folks take on different understanding on the word "retirement".

for example, my understanding of "retirement" is the cessation of one's professional career and/or active working life. this is rather different from your definition of "retirement" and it will definitely be different from another perspective. even Sam has his own understanding of retirement where one is not financially beholden to any institution and/or anyone.

hmm... good points raised. i think the ten year series need to include this question "what on earth is retirement?"

Maybe the ten years series need to include "What is CPF" as well....

From my understanding, CPF is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing needs. It is administered by the Central Provident Fund Board, a statutory board under the Ministry of Manpower. The employer has to contribute 16% of the employee's monthly gross salary while the employee contributes 20% of his monthly gross salary. The CPF was started on 1 July 1955 during the British colonial.

Cheers!!!

 

[HK14K]

retirement is when you cease working anymore. whether you have enough money for the rest of your life is another matter. what is the disparity here ?

Oh, so in your world of retirement, you mean a retired person will not have to worry about his or her daily needs anymore??? So one can sleep on the street, beg for food after retirement???

I'm glad that SG does not have ppl like you running the country, if not the whole country will be full of streets beggar

 

[zhihau]

what is the disparity here ?

kindly read the examples cited in my second paragraph