Could our CPF Board be one big Ponzi scheme?

[bluefin]

In light of the Madoff case, I was just wondering if our CPF Board is actually one big Ponzi scheme?

The auditor of the Board is none other then the govt's own Auditor-General and so it leads me to wonder if the oversight is robust enough.

Also, time and again, they raised the withdrawal age for members and these days it seems they are so desperate for cash that they even offer lucky draws to attract ppl to contribute to their Medisave, but of course they say it is all for the good of the workers.

And there is the long-running issue with Malaysian who have left Spore for more than a decade and are still unable to withraw their CPF savings.

And also the re-pegging of the Special Account interest rate from the previous fixed 4% to market rate?

Are they so short of cash? All food for thoughts...

Cheers

 

[mrbell1009]

All Ponzi schemes will collapse. Can't you see CPF has collapsed.

 

[Watchman]

All who practise Falsehood will be punished by the one above !

 

[Echo_O]

As long as the ruling party is in power, they can just print more money to cover back losses and pay out.

of course there will be repercussions to this with the population suffering.

 

[Watchman]

it is one big Ponzi scheme that thrives on people 's fear !

 

[halsey02]

>Also, time and again, they raised the withdrawal age for members and these days it seems they are so desperate for cash that they even offer lucky draws to attract ppl to contribute to their Medisave, but of course they say it is all for the good of the workers.
>

So is your questioning of Temasek, etc... it is done for the good of the workers, so is raising GST to 7%...it is good for the workers!! so good..GOOD !!!

 

[jacobsgoh]

>Also, time and again, they raised the withdrawal age for members and these days it seems they are so desperate for cash that they even offer lucky draws to attract ppl to contribute to their Medisave, but of course they say it is all for the good of the workers.
>

So is your questioning of Temasek, etc... it is done for the good of the workers, so is raising GST to 7%...it is good for the workers!! so good..GOOD !!!

GST is good for the nation's coffer.

if i am in charge of CPF, every member shall have to pay S$1.00 per month [Administrative fee] instead of earning interest.

 

[chingchong]

CPF: Confirmed Ponzi Fund

 

[singveld]

lucky i do not depend on CPF money for my retirement.
he he, i have other revenue.

good luck to sinkies who are depending though. tough luck.

 

[SIFU]

empty vessels huh