The Hard truth is CPF is based on a big fat lie! Here's why...

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

this sounds like the victim happened to run into me when i was holding a knife facing him. i did not stab him.... he just happened to die at the sight of the knife, nevermind there was blood stains on my hands and shirt.

The bottom line is more important than the process. The fact that the policy has saved many Singaporeans from ending up destitute justifies its implementation.

It may not be popular but governing isn't a popularity contest. It's about providing leadership to the benefit of society even if bitter medicine has to be dispensed once in a while.

 

[Penchion]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

If CPF is OUR MONEY, why are they in total CONTROL of when we should get it back?

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

If CPF is OUR MONEY, why are they in total CONTROL of when we should get it back?

They are not in total control. They only have control over the minimum sum and the medisave and special accounts. The majority of the money is under your control.

Even before the age of 55, you have many options regarding how to invest your CPF funds. I made more than $500,000 in profit way back in the early 90s by utilising my CPF account for property purchases.

CPF is an excellent scheme. It's far better than the pensions that many Western nations operate. There they rob you of your hard earned cash up front and you and your family will never see it again if you don't reach retirement age which is 65 and above in many countries.

In NZ for example you could have ended up paying $2 million in taxes to feed the pension scheme but because it goes into a common pool and not into an account with your name on it, you could end up seeing absolutely nothing in return if you die before 65. Your family will not get anything either.

In Singapore, all the money you accumulate in CPF can be willed to your dependents should you kick the bucket before retirement.

 

[kiwibird7]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The government has never claimed that they are paying you back 100%. They have already clearly stated that they are holding back a minimum sum for your own good and I happen to agree with this policy.

That is one big fat lie! Just go check your history books. The Howe Yoon Chong report started the whole goal post shifting.

[COLOR=rgba(0, 0, 0, 0.8)]When the CPF scheme was first set up in 1955, the withdrawal age was 55. This was when CPF members could withdraw their entire CPF savings.[/COLOR]
[COLOR=rgba(0, 0, 0, 0.8)]There was no Minimum Sum at the time, which was introduced only in 1987. Since then, the Minimum Sum – an amount which members must keep in the CPF – has been increased to the current S$155,000.[/COLOR]

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

That is one big fat lie! Just go check your history books. The Howe Yoon Chong report started the whole goal post shifting.

It has nothing to do with lying. You have to realise that CPF has evolved over the years and what was suitable in a bygone era is no longer ideal. The goal posts shifted more to the benefit of Singaporeans than the other way round.

https://www.cscollege.gov.sg/Knowle...tral Provident Fund More Than Retirement.aspx

 

[xingguy]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

They are not in total control. They only have control over the minimum sum and the medisave and special accounts. The majority of the money is under your control.

Even before the age of 55, you have many options regarding how to invest your CPF funds. I made more than $500,000 in profit way back in the early 90s by utilising my CPF account for property purchases.

CPF is an excellent scheme. It's far better than the pensions that many Western nations operate. There they rob you of your hard earned cash up front and you and your family will never see it again if you don't reach retirement age which is 65 and above in many countries.

In NZ for example you could have ended up paying $2 million in taxes to feed the pension scheme but because it goes into a common pool and not into an account with your name on it, you could end up seeing absolutely nothing in return if you die before 65. Your family will not get anything either.

In Singapore, all the money you accumulate in CPF can be willed to your dependents should you kick the bucket before retirement.

Yeah, right.
Tell that to this old lady who also thinks like you but regretted later.

<iframe width="420" height="315" src="//www.youtube.com/embed/HZqTK6WBfOc" frameborder="0" allowfullscreen></iframe>

 

[shittypore]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The problem with this PAP is that they treat all shittyzens as their opponents and use the law to their wimps and fancies.

 

[SgGoneWrong]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The problem with this PAP is that they treat all shittyzens as their opponents and use the law to their wimps and fancies.

Only local born sinkies are treated as opponents. Normal sinkies are like being born into the untouchable caste.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Yeah, right.
Tell that to this old lady who also thinks like you but regretted later.

Policies cannot be formulated to suit the whims and fancies of a cranky old lady. They need to serve the common good and that is what the minimum sum scheme is all about.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The problem with this PAP is that they treat all shittyzens as their opponents and use the law to their wimps and fancies.

The PAP loves all Singaporeans. That is why policies are designed to benefit the country.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

I see my CPF every time my statement arrives and it certainly makes me feel wealthy.

To feel wealthy does NOT mean you're wealthy. I'm sure such a smart dude like you will know that, or you don't?

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The PAP loves all Singaporeans. That is why policies are designed to benefit the country.

Hi bro-in-christ, for PAP so love all Singaporeans, it sacrifices its only begotten son to die by the lightning bolt so that all Singaporeans can have policies to benefit them and not the PAP alone.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Policies cannot be formulated to suit the whims and fancies of a cranky old lady. They need to serve the common good and that is what the minimum sum scheme is all about.

If the policies are serving the common good, then we will not be complaining, right? Because we're the commoners.....BUT why we we complaining? The answer is right there in plain sight. The policies are NOT for the common good.

 

[Sinkie]

This thread should be made a sticky..........IMO.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Correct lor....

Following are some threads that should not go into oblivion, because they're the truths......

The-Hard-truth-is-CPF-is-based-on-a-big-fat-lie!-Here-s-why

This-is-the-burger-who-raised-our-CPF-withdrawal-age-55!!!

Ex-CPF-staff-exposes-CPF-scams

I-confirm-PAP-will-be-kicked-out-in-2016-No-need-to-bet-it-s-confirmed

 

[zhihau]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The withdrawal age for CPF has never been changed. It remains at 55.

Return the full sum then, why withhold a portion or any part of it?

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

If the policies are serving the common good, then we will not be complaining, right? Because we're the commoners.....BUT why we we complaining? The answer is right there in plain sight. The policies are NOT for the common good.

Only a very small portion of the population are complaining. The rest are happy with the status quo.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Return the full sum then, why withhold a portion or any part of it?

Because if the full sum is returned, it will be squandered and the the number of destitute sinkies will increase manyfold.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Only a very small portion of the population are complaining. The rest are happy with the status quo.

This can't be true. Let's see if the erection tells the same story. I can't wait.

 

[hofmann]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Because if the full sum is returned, it will be squandered and the the number of destitute sinkies will increase manyfold.

can we return the full sum and get the recipients to sign a waiver to the right to state assistance? or something to that effect?

not sure la, might sound draconian, but its a start.