Govt issues long reply to Heart Truths on CPF issues

[rushifa666]

We followed The US system of a private medical industry run hospitals. Look where it got them.
Only we and japan were stupid enough to get on this train of no return. 50% of Americans cannot afford insurance because medical costs jacked up policy prices. Watch Michael moore's sicko and you will understand just how fucked up here is

 

[tanwahtiu]

is this how they teach in Havard?

first, you set aside $148,000 for your old age in 2014 and you have to pay your own inflation rate.

2nd, you have to cough out cash to pay your own inflation rate.

Then might as well pay that money into your own bank account, not in PApig CPF bank account or anybody bank account.

Fucking CPF can do better than banks, take your money and you pay your own inflation?

3rd, with the $148,000 can the TH Jinx access to my money for TH investment? Can you take your money invest yourself?

Does Harvard teaches courses in white collar criminals?

Myth 4: The Minimum Sum prevents us from using our CPF money.

This is not true. The Minimum Sum(MS) is adjusted for inflation on an annual basis for each cohort. This is necessary because the retirement income needed in real terms for someone who turns 55 in 2014 will not be the same as what would be needed for someone who turns 55 in 2024. $100 today would be worth less than $100 in 10 years’ time.

 

[Scrooball (clone)]

That's like telling u they give u half a cup of coffee when u pay full price cos they don't want u to take too much caffeine.

It is legalised daylight robbery. Why can't you take out your own money?

 

[Papsmearer]

We followed The US system of a private medical industry run hospitals. Look where it got them.
Only we and japan were stupid enough to get on this train of no return. 50% of Americans cannot afford insurance because medical costs jacked up policy prices. Watch Michael moore's sicko and you will understand just how fucked up here is

U obviously know nothing about the US medical system, so maybe you should shut the fuck up. ANyway, anyone who watches Michael Moore needs to have their heads examined. The US medical system is fine and is one of the finest in quality and efficiency. They can do major surgeries for less cost that most other western countries and even singapore. If you do not b'elieve me, than ask why so many PAP ministers and cronies send their family there for treatment. The fault lies with the US legal system. Its a very litigous system. Doctors and hospitals are routinely sued for millions of $ and the legal system awards big amounts to plaintiffs. SOme one has to pay for the large awards. And the money comes out of the hospitals and insurance premuims. As a result, they have no choice but to increase their fees to the patients.

However, if u have no money, are a drug addict and overdosing in an emergency room, you will still be treated for free and your life will be saved.

Singapore has no such legal system that routinely allows lawsuits of the nature in the US. In theory, our system should therefore be better. But that is not the case either.

 

[Papsmearer]

The simple fact is that the PAP uses your CPF money and parks it in their funds managers under the names of GIC, Temasek and MAS. These funds claim to accumulate 17% return on investment over the years. So, instead of paying just 1%, or 1.5% in the past and now 2.5%, if the PAP had right from the get go paid you 8%-10% return, everyone would have easily accumulated over $250,000k after a few decades. The very deliberate act of the CPF to depress the return to holders has resulted in part in the lack of a "suitable" minimum target for the PAP to zap the citizens.

 

[kaipoh]

Let me ask a simple question, what happen if the PAP not elected in next term, are our CPF money, money in the govt coffer still intact? and all those who declare shameless salary will reach a settlement by the new party?

Myth 4: The Minimum Sum prevents us from using our CPF money.

This is not true. The Minimum Sum(MS) is adjusted for inflation on an annual basis for each cohort. This is necessary because the retirement income needed in real terms for someone who turns 55 in 2014 will not be the same as what would be needed for someone who turns 55 in 2024. $100 today would be worth less than $100 in 10 years’ time.

Considering that a price of your favourite kopi or kaya toast would keep increasing due to inflation, it helps to set aside a sustainable nest egg.

The Minimum Sum exists to ensure that our nest egg is spread out comfortably to last us not just for one or two years after retirement, but throughout our golden years.

The adjustment for inflation will not affect the Minimum Sum of people who have already turned 55. Here is a table of the changes:

http://www.gov.sg/government/web/content/govsg/classic/factually/factually_20140415_cpfmoniesfacts

 

[Papsmearer]

Let me ask a simple question, what happen if the PAP not elected in next term, are our CPF money, money in the govt coffer still intact? and all those who declare shameless salary will reach a settlement by the new party?

The CPF money is gone, its spend and tied up in whatever investments and companies that Temasek, MAS, and GIC gets into. The govt. has to issue bonds to pay out CPF if there is a large number of retirement claims. For example, if the PAP follows the Malaysian govt. (i.e. give all CPF money back at age 55), they would have a severe cash flow problem. Furthermore, CPF has been further drained by expensive flats and encouraging and allowing stupid sinkies to use their CPF as down payment and monthly mortgage payments. So the answer to your question is that a large portion of the CPF has gone to the HDB, and the other large portion has gone to Temasek/GIC/MAS.

Why should there be a a settlement with the shameless overpaid shits? They shoudl be prosecuted and bankrupted and all their assets seized for corruption.

 

[Leongsam]

In theory, our system should therefore be better. But that is not the case either.

The Singapore system is better. It says so right here http://www.bloomberg.com/visual-data/best-and-worst/most-efficient-health-care-countries

 

[Confuseous]

That's like telling u they give u half a cup of coffee when u pay full price cos they don't want u to take too much caffeine.

It is legalised daylight robbery. Why can't you take out your own money?

It is also like those 30-year pre-paid housing for retirees who downgrade.
The granny units have to be fully paid up - no instalment, no nothing.

 

[xingguy]

 

[LEGEND]

..............

Ok, it is pegged to the losing chips of Temasick.

 

[Cestbon]

Myth 4: The Minimum Sum prevents us from using our CPF money.

This is not true. The Minimum Sum(MS) is adjusted for inflation on an annual basis for each cohort. This is necessary because the retirement income needed in real terms for someone who turns 55 in 2014 will not be the same as what would be needed for someone who turns 55 in 2024. $100 today would be worth less than $100 in 10 years’ time.

Considering that a price of your favourite kopi or kaya toast would keep increasing due to inflation, it helps to set aside a sustainable nest egg.

The Minimum Sum exists to ensure that our nest egg is spread out comfortably to last us not just for one or two years after retirement, but throughout our golden years.

The adjustment for inflation will not affect the Minimum Sum of people who have already turned 55. Here is a table of the changes:

http://www.gov.sg/government/web/content/govsg/classic/factually/factually_20140415_cpfmoniesfacts

Since gov said that CPF min sum adjusted base on inflation>> fair enough>> nearly double in 10 year

But why gov didn't said that salary should adjusted base on inflation??????

 

[blindswordsman]

...It is legalised daylight robbery. Why can't you take out your own money?

Easy for every adult to understand that money in your name but not in your pocket is not your money. So no matter how you look at it, your CPF money is in your name but not in your pocket by rules of law or whoever uses the laws to keep it.

 

[xingguy]

Easy for every adult to understand that money in your name but not in your pocket is not your money. So no matter how you look at it, your CPF money is in your name but not in your pocket by rules of law or whoever uses the laws to keep it.

If it is rules of law, we would have gotten our CPF money at age 55 as promised.

It is rule by law that they change the retirement age, the minimum sum and other evil schemes that you can see but not touch your CPF money.

---

 

[blindswordsman]

It is also like those 30-year pre-paid housing for retirees who downgrade.
The granny units have to be fully paid up - no instalment, no nothing.

.... and to return it to HDB after 30 year lease is up or when lessee passes away. If such kind of rule can be applied to studio apartment, why can't PRs be made to return their HDB flats to HDB when they quit SG instead of allowing them to re-sell in open market for huge profit?

 

[blindswordsman]

If it is rules of law, we would have gotten our CPF money at age 55 as promised.

It is rule by law that they change the retirement age, the minimum sum and other evil schemes that you can see but not touch your CPF money.

Precisely, by changing the rules of law, you can see your money but cannot put it in your pocket. All of us want to take out CPF money at 55, pappies' supporters included, but all got screwed. We got screwed unhappy, pappies' supporters got screwed but still happy.

 

[jw5]

If it is rules of law, we would have gotten our CPF money at age 55 as promised.

CPF is a loan from us to them, whereby the terms of agreement are unilaterally determined by them, including the terms of repayment, the timing of repayment and the interest rate. :(

 

[escher]

The minimum sum serves no other purpose than to keep a hefty sum of money locked up in the CPF coffers.

A somewhat similar analogy would be like using a coupon discount voucher, and the fine print on it says you'll have to spend a minimum of $100 to qualify for a discount.

If you really wanted to help the people with their retirement and keep a sustainable nest egg, you would have upwardly adjusted the pittance the old folks are collecting periodically, with little or no adjustment to the minimum sum. A rising minimum sum exacerbates inflationary concerns, because in effect you would be denying more people from getting that pittance. What you're doing is basically shifting goal posts.

Wow, PAP govt... your best and brightest working in the 'rapid response team' came up with that official response? I tip my hat to you.

In actual fact, I can see you're afraid. You're scared shitless, because you know an angry group of baby boomers can have serious political ramifications for the Lightning Tribe.

For younglings such as yours truly, I'll just take out the popcorn and enjoy the show.

Kill them all PAPs
Let GOD sort out the good from the really bad ones
The good PAPs can then eat joss sticks and candle wax from time to time
The bad PAPs like smear of shit on sole of shoe LKY will be raped and tiewed and kanned by legions of ghouls and demons and not ever
get time off to eat joss sticks and candle wax

Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.

BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.

Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.

Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.


None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.

They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP.

Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.

Despite the leeching and fucking of singaporeans by the cheebye PAP and LKY, Singapore still managed to survive to date.
Despite their being hung as a fucking millstones around the necks of Singaporeans and the idiocy and corrupt manipulations of PAP and LKY, Singapore still not dead yet.

WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS

WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN

WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.

AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.

 

[tanakow]

The squirrel is lucky. There is still one nut left..............

If it is rules of law, we would have gotten our CPF money at age 55 as promised.

It is rule by law that they change the retirement age, the minimum sum and other evil schemes that you can see but not touch your CPF money.

---

 

[rushifa666]

U obviously know nothing about the US medical system, so maybe you should shut the fuck up. ANyway, anyone who watches Michael Moore needs to have their heads examined. The US medical system is fine and is one of the finest in quality and efficiency. They can do major surgeries for less cost that most other western countries and even singapore. If you do not b'elieve me, than ask why so many PAP ministers and cronies send their family there for treatment. The fault lies with the US legal system. Its a very litigous system. Doctors and hospitals are routinely sued for millions of $ and the legal system awards big amounts to plaintiffs. SOme one has to pay for the large awards. And the money comes out of the hospitals and insurance premuims. As a result, they have no choice but to increase their fees to the patients.

However, if u have no money, are a drug addict and overdosing in an emergency room, you will still be treated for free and your life will be saved.

Singapore has no such legal system that routinely allows lawsuits of the nature in the US. In theory, our system should therefore be better. But that is not the case either.

I like how you set yourself up to be a healthcare expert and yet you cannot even explain why since we follow the "wonderful" US system and it still doesn't work. So is it because the parent model is a failure or ours? Did you even watch the part where they threw a homeless in hospital uniform to a shelter and he wandered for an hour in winter before someone took him in? Yeah, free treatment indeed