Cpf@55

[tanwahtiu]

CPF@55 will affect members of the aging population born in 1946- 1964, the baby bommers.

The 1964s groups start their paycheck say in NSF in around 1983 period and kick off their 1st CPF deduction. At this time the CPF agreement (CPF is a board not a government btw) with the people is withdraw age at 55.

The CPF board (a stat board) steps in to extend your CPF payment to 62 in 1990 period and there is a given date to apply the policy, agree?

Then to come to think of it there should be a cut off date or kick off date ,right?

Meaning your CPF deduction in 1990 time follow the kick off date onwards to pay you at 62. Money before the kick off date is to return to you in full @55 which is a contractual agreement. The CPF deduction from you from say 1990 to say 2013 is for age 62 only. So you start fresh to the CPF board changed their tune in 1990 period.

With the new implement to pay you at 63@2015 then only the CPF money you contribute in 2015 is for age 63 to collect. So forth in 65@2018 only the CPF deduction from your paycheck in 2018 is for withdrawal at 65.

This will be a fair system for implementing this policy. Which means the CPF board cannot lump your CPF deduction from 1983 as part of the new policy to be implemented in 65@2018.

Here we are looking at cut off date and kick off date and unforeseen circumstances leading to @65.

Loong is in his 60s too and going 70s not much stamina leow. To trust Kee Chiu to lead? He is a military solider and only good at going to war for you. Remember he was awarded a military medal in US but not in economic leh? Such medal bo pah kay to run a country economically.

For those Gen X and Y in their 20s today, good luck to you and it is unfortunate your CPF is locked up till you reach 65, you have to sort it out yourself.

The baby boomers today are fighting for their rights to the full lump sum to be paid to them, cash. Money in their hand is better than in no more stamina Loong's pocket, he is lau leow, lau lang oredi a member of the lau lang baby boomers.

Can trust what will happen to your CPF money in 2025 when you hit 65?

Interesting thought ... hummmm ... think about it?

 

[tanwahtiu]

one simple analogy to think of.

Say a rapist was jailed for 15 years and has 5 years to go to be released from jail. A new law says rapist will be hang, death sentences.

So does this means the existing rapist will also be hang follow the new law?

不可能, right?

 

[Equalisation]

This is most unfair !

Give us back all OUR hard-earned CPF money at age 55 NOWWWW !!!!

 

[Sinkie]

This is most unfair !

Give us back all OUR hard-earned CPF money at age 55 NOWWWW !!!!

I second that.....

 

[Equalisation]

This is most unfair !

Give us back all OUR hard-earned CPF money at age 55 NOWWWW !!!!

For God's sake, it is our blood and sweat money from years of toiling for us ordinary citizens !

 

[johnny333]

As long as the PAP holds a majority don't expect to get your CPF back.

So vote for change.

 

[halsey02]

For God's sake, it is our blood and sweat money from years of toiling for us ordinary citizens !

Encik, when you started voting...WHO DID YOU VOTE??...when they started changing the bar on CPF withdrawals, did you protest? & whom did you vote?? We have allowed people HOLDING OUR MONEY, permission to change the rules, when, they like, how they like...so, the baby bloomers, should ask themslves the question!

WHOM THEY VOTE & ALLOWED THIS TO HAPPEN??.....in the past, the elderly will tell you, their savings for old age..is for COFFIN MONEY...but now?? OK lah!, they will tell you, they will cremate you at AFFORDABLE & SUBSIDIZED prices, in other words, raised by 20% to 120% and give you discounts..

WHOM DID YOU VOTE??..live with it & repent! & thank you for your donations.... ha ha ha ha

 

[laksaboy]

They claim that there is a need to delay CPF withdrawal age due to increasing lifespans.

Thus, you have to blame this lau chee bai for spoiling market and increasing the average lifespan.

 

[halsey02]

As long as the PAP holds a majority don't expect to get your CPF back.

So vote for change.

What was the original Central Provident Fund charter? or ACT? does anyone have a copy? & compare with the current. Does the ACT says in anyway, that any changes to CPF, the stakeholders, that is us, must be consulted & any major changes, must call to a vote to agree on the change?

or they have the right to change anytime, when they like etc...

 

[tanwahtiu]

well said,

let dig in more to find out what they did and amend as they wish.

Their policy is flawed and there is a need to reverse them to original agreement. CPF is a Stat board not a government can class action to take them to court to get your CPF@55. There is a contractual agreement with contributors withdrawal at 55.

also now they said 65@2018, need to call for votes and GE to vote on this change, good thinking.

What was the original Central Provident Fund charter? or ACT? does anyone have a copy? & compare with the current. Does the ACT says in anyway, that any changes to CPF, the stakeholders, that is us, must be consulted & any major changes, must call to a vote to agree on the change?

or they have the right to change anytime, when they like etc...

 

[leetahbar]

They claim that there is a need to delay CPF withdrawal age due to increasing lifespans.

Thus, you have to blame this lau chee bai for spoiling market and increasing the average lifespan.

he's telling us smack in the face: YOU CAN KISS YOUR LIFESAVING GOODBYE!