Scrap the CPF Minimum Sum Scheme or CPF-Life Scheme which defer your CPF Withdrawal Date from 55 years old to 65 years old.
During the period between 55 years old and 65 years old,when are are sick,poor and jobless and in financial difficulties,u cannot use use your own CPF Money for your daily survival.When u cannot keep your stomach full NOW,what is the point of withdrawing monthly payouts in the FUTURE 10 years later ? The 2 schemes are flawed and DO NOT provide a comprehensive financial safety net for the Senior Singapore Citizens.
If u have to downgrade your HDB flat or shorten your HDB lease in order to obtain some cash for daily survival,then the PAP Govt policies are flawed against the Ordinary Singapore Citizens.But why the PAP want to defer the CPF Withdrawal date from 55 years old to 65 years old ? CPF Money is a very cheap source of funds for GIC for overseas speculations .GIC lost heavily (billions) in unwise overseas speculations and may not be able to repay the principal amount plus interest to CPF when due and may cause CPF to be insolvent,so the brilliant scam of Minimum Sum Scheme to defer CPF Withdrawl Date from 55 years old to 65 years old.The PAP said the Minimum Sum Scheme is for retirement planning but in fact is to cover the losses/debts of GIC without solving the serious daily financial problems of the Ordinary Singapore Citizens.
Similarly,the PAP said ERP is to maintain smooth traffic flow but in fact is to collect millions of revenue without solving the severe vehicle congestion problems.
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