Roy Ngerng should not retract his article and say sorry to the PM!!

[laksaboy]

Isogallardo confused the opposition with activists. This is disingenuous. They are not the same and don't always think the same all the time.

Yes, the independent activists aka the Hong Lim Park regulars tend to support the opposition and/or are critical of the PAP.

So let us use the example of those PA grassroots activists.

Have you heard people kpkb if they get their playground upgraded for all years except one. But this is what these GRO activists in Kaki Bukit did. As a result of nitpicking their facts were severely singed. Even Isogallardo was not seen defending that episode. He knows that kind of behaviour isn't representative of the PAP and would damage the PAP if linked. But he tries to link Roy with SDP, with the opposition.

Bear in mind that these kpkbing is done on AHPETC when it should be the MND that decides whose latrine to upgrade.

PAP IBs are not very bright creatures. You can see plenty of them crawling out of the woodwork then posting on the comment section of The Heart Truths blog when Roy published the lawyer letters.

 

[Leongsam]

The 60% are blind to see, sure they get that packet of 'kway trow' at 55 years of age,

Those who think that they will not have enough in CPF to reach the minimum sum at age 55 can easily make voluntary contributions if they want to.

The current limit for voluntary contributions per year is $30,600 minus mandatory contributions so let's say you add voluntary contributions to your compulsory deductions to achieve this maximum amount from the age of 35 till you reach 55, you'll then have $30,600 x 20 = $612,000 and that does not include interest.

If you have bought property using CPF funds, you can pledge your property up to 50% of the minimum sum upon reaching 55 and you only need to retain half the minimum sum in your ordinary account.

Regardless of how the cloth is cut, I cannot see why any Singaporean worth his salt will not be able to withdraw a big chunk of his savings at 55.

 

[halsey02]

PAP IBs are not very bright creatures. You can see plenty of them crawling out of the woodwork then posting on the comment section of The Heart Truths blog when Roy published the lawyer letters.

We must not allow our CPF be held captive by people, this is our heart earned money.....we must never stop hammering at this..LOOK GUYS, this is yours & MNE, BLOOD SWEAT & TEARS MONEY...how can we so freely allow people free access to them & without any accountability !!

Ok...this Roy Ngerng is an idiot.....but we have to admire his balls to question or to accuse....on the other side of the coin, we do not have people like this...those holding our MONEY, THINKS IT IS SO EASY TO do what they PLEASE!

Please wake up....do not be too trusting...one day we will wake up to find out that, our $100,000 in our CPF is now $10....

 

[The_Hypocrite]

uh Boss Sam now says for those without the minimum sum by 55 should not be in this forum...so must submit CPF statement to him to register in this forum? he seems to be gasping at straws,,,guess only the top 1% can talk to him and be here,,,guess I have to move on,,,,,,:(

He will not answer your question but continue with his anecdotes. The truth is over half of Singaporeans withdraw little at age 55.

Yes but that only applies to people who aren't very competent. When I discuss issues here, I expect to be having a dialogue with intelligent and well informed people who are capable of accumulating far more than the paltry minimum sum that is prudently held back.

In a photography forum I would expect whoever I'm interacting with to have a camera. In this forum, I would expect everyone to have at least twice the minimum sum in their accounts by age 55. If you think you're not going achieve that or you have already reached 55 and still don't have the minimum amount, then you should proceed to some other forum more suited to your capabilities.

I often wonder why some here cannot fathom simple concepts. It's now dawning on me that perhaps I made the wrong assumptions regarding the audience at sammyboy.

 

[Leongsam]

uh Boss Sam now says for those without the minimum sum by 55 should not be in this forum...so must submit CPF statement to him to register in this forum? he seems to be gasping at straws,,,guess only the top 1% can talk to him and be here,,,guess I have to move on,,,,,,:(

I'm not barring anyone. All I'm saying is that I expect a basic level of intellect and financial literacy amongst members here.

However, I am suggesting that those who don't make the cut might be more comfortable in a forum more suited to their abilities.

The minimum sum of $155,000 is such a small amount that I don't expect it to be an issue with the majority of educated Singaporeans who populate the net.

 

[chootchiew]

The only people who cannot withdraw anything at all at 55 are those that have saved a pittance after a lifetime of work. These people need to be looked after financially by the government as they are obviously incompetent.

Everyone else can draw the entire amount above the minimum sum. My cousin withdrew more than half a million dollars at the end of last year and has just used the money to buy an apartment in Auckland.

He intends to spend a few months a year here from now on. He told me that his CPF savings were a godsend and he is very appreciative of the government for setting up such an excellent scheme.

CPF has a capped. Majority of workers would have used up their CPF for housing.

 

[tanwahtiu]

I think people are more concern where their money were used in TH, GIC and GLC? Where are their shares of profit? Should the TH, GIC and GLC profits be use to pay for the increase than CPF members to cough it out?

Who allowed them to use your CPF and who is this EP Tony Tan, and previous EPs, save guard your CPF money?

Also only Singaporeans contribute to CPF and FTs are not? Such disparity make Sinkies fedup with PAP and add salts to the wound is the NSF for Sinkie only issue.

For all these people are fed up and looking forward to a fight with PAP.

I'm not barring anyone. All I'm saying is that I expect a basic level of intellect and financial literacy amongst members here.

However, I am suggesting that those who don't make the cut might be more comfortable in a forum more suited to their abilities.

The minimum sum of $155,000 is such a small amount that I don't expect it to be an issue with the majority of educated Singaporeans who populate the net.

 

[sochi2014]

why nobody ask PAP why they keep raising the minimum sum?

i smell fish in this!

 

[Leongsam]

I think people are more concern where their money were used in TH, GIC and GLC? Where are their shares of profit? Should the TH, GIC and GLC profits be use to pay for the increase than CPF members to cough it out?

CPF pays far better interest than the banks do.

When you put your money in a bank, they use to money to improve their bottom line too.

 

[po2wq]

... How would you like it if someone started spreading lies about you being a pedophile or serial rapist just because he doesn't like you. Would you take it lying down? I certainly wouldn't.

so ppl here toking about u n ur seatless bike ... iz definitely true ...

 

[winnipegjets]

CPF pays far better interest than the banks do.

When you put your money in a bank, they use to money to improve their bottom line too.

CPF is not a bank. Our CPF is used as cheap funds for the government to cover up its financial scandals.

This is a government mandated savings plan and yet its return is lower than inflation. If that is not government ripping us off, what is?

 

[Leongsam]

CPF is not a bank. Our CPF is used as cheap funds for the government to cover up its financial scandals.

This is a government mandated savings plan and yet its return is lower than inflation. If that is not government ripping us off, what is?

CPF money is not gambled away. It is invested wisely by a team of consummate professionals who have achieved excellent returns.

A few investments may have turned sour and made the headlines but every fund ends up with a handful of duds. Even Warren Buffet has lost big time here and there.

What is far more important is the bottom line which has performed extremely well.

 

[Papsmearer]

CPF pays far better interest than the banks do.

When you put your money in a bank, they use to money to improve their bottom line too.

Putting money in the bank is voluntary, u dumb fuck. Putting money in CPF is compulsory. U see the difference or not? If I don't like the bank rate, I can always try mutual funds, bonds, etc.

 

[winners]

Roy should not have compared the CPF to CHC. If he had intelligently argued that the returns from the CPF do not correspond to the returns from the GIC and Temasek, then it's not fair to be using the CPF to purchase their bonds and thus indirectly providing dirt cheap loans to them.

You'll notice that Leong Tze Hian also criticizes on the CPF plentiful, but he's smart not to get himself caught in a legal battle.

 

[Papsmearer]

CPF money is not gambled away. It is invested wisely by a team of consummate professionals who have achieved excellent returns.

A few investments may have turned sour and made the headlines but every fund ends up with a handful of duds. Even Warren Buffet has lost big time here and there.

What is far more important is the bottom line which has performed extremely well.

when Warren Buffet loses, he also loses his own money as he is a major shareholder of Berkshire hathaway. Its not the same thing, because when Temasek loses, Whore Jinx does not lose her own money. Also, Buffet does not claim he is the best in the world and has to be compensated with the highest salary. When u claim that, than u better perform like the best. And the best perform FLAWLESSLY. Are u that stupid?

 

[tanwahtiu]

you whack him well.

put money in bank can withdraw anytime you want. PAP take 25% of your monthly pay and tell you at age 55 you can have it back.

Where are the trust today?

If you cannot see your money they cannot be your leader or gahment, simple.

Putting money in the bank is voluntary, u dumb fuck. Putting money in CPF is compulsory. U see the difference or not? If I don't like the bank rate, I can always try mutual funds, bonds, etc.

 

[Papsmearer]

you whack him well.

put money in bank can withdraw anytime you want. PAP take 25% of your monthly pay and tell you at age 55 you can have it back.

Where are the trust today?

If you cannot see your money they cannot be your leader or gahment, simple.

I know, now a days, these PAP IB hired by whichever ministry is damn low quality. All they can do is keep repeating from a script. I think these fuckers are are based out of some call centre in Kolkata.

 

[tanwahtiu]

he may have made a blunder but can be a good blunder to draw out LHL for a fight over our CPF money is a good case to watch and support him.

More cans of worms opens if put LHL in the courtroom over our CPF money.

Perhaps can go after old fart some more, kill 2 birds with 1 stone.

Roy should not have compared the CPF to CHC. If he had intelligently argued that the returns from the CPF do not correspond to the returns from the GIC and Temasek, then it's not fair to be using the CPF to purchase their bonds and thus indirectly providing dirt cheap loans to them.

 

[Leongsam]

Putting money in the bank is voluntary, u dumb fuck. Putting money in CPF is compulsory. U see the difference or not? If I don't like the bank rate, I can always try mutual funds, bonds, etc.

Compulsory retirement funds exist the world over. The methodology of transferring money from individual to state may vary but the motive is the same. It is to ensure that citizens have something for their old age.

Some countries do it by imposing high taxes. Others by creating compulsory contributions. The end result is the same ie money you have earned is forcibly taken away from you by legislation.

 

[winners]

Frankly, I take the CPF as a forgone money. What I can make out to buy properties had already been done. But they should be paying higher interest rate instead of the meagre 2.5% to 4%. At least those retiree dependents can look forward to a higher monthly payout after 65 years old.