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CPF is not my money???

Discussion in 'The Courtyard Café' started by makapaaa, Apr 16, 2009.

  1. makapaaa

    makapaaa Alfrescian (Inf)

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    <TABLE id=msgUN cellSpacing=3 cellPadding=0 width="100%" border=0><TBODY><TR><TD id=msgUNsubj vAlign=top>[​IMG] Coffeeshop Chit Chat - CPF is not my money???</TD><TD id=msgunetc noWrap align=right>[​IMG]Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">ficklebug <NOBR> [​IMG] [​IMG]</NOBR> </TD><TD class=msgDate noWrap align=right width="30%">2:58 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 17) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>11581.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>From MY PAPER Thursday Apr 16 2009 (MY SAY) A19
    Why Pay Interest On CPF Funds?
    I recently received a statement from the Central Provident Fund (CPF) Board.
    It was a request for me to pay interest on the loan I had taken from my CPF account to pay for my daughter's education.
    It seems strange that money which actually belongs to me had to be loaned to me, with interest accruing to it.
    As the money in my CPF Ordinary Account is mine, why am I required to pay interest when I use a portion of it for my children's education?
    Mr Ishwar Mahtani
    </TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
     
  2. makapaaa

    makapaaa Alfrescian (Inf)

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    [​IMG]
    Donch ask the obvious! *chey*
     
  3. mscitw

    mscitw Alfrescian Old Timer

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    Peasant Ishwar is another mat rempin who ought to perform stunts using a 55cc scooter.

    CPF = Compelled Pension Fishtrap.

    Peasants who used CPF to pay for their pigeons must pay themselves interests against their own money.

    ha ha ha

    only in peasantpore.
     
  4. funglung

    funglung Alfrescian Old Timer

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    HOI

    HOW ELSE DID BASTARD LEE KUAN YEW GOT FROM YOU ALL THAT 400-500++ BILLIONS INTO HIS TEMASICK AND GIC?

    EVEN MORE HUNDREDS OF BILLIONS INTO HIS RESERVES




    Sinkies got no balls
    You all dare not stand with those that tried to speak for you.
    SO HOW MANY TRIED TO SPEAK FOR YOU NOW?

    You all dare not give money to them so that they can work for you.
    SO HOW MANY CAN WORK FOR YOU NOW?

    You all dare not support them publicly so that they can speak for you.
    SO HOW MANY PUBLICLY SPEAK FOR YOU NOW?

    You all turn your backs on those that spoke out bravely against LKY
    LKY hit out at those who tried to speak for you with his kangaroo courts
    You turn your backs and not support them with money and courage.


    SO HOW MANY TRIED TO SPEAK FOR YOU NOW?
    SO HOW MANY CAN WORK FOR YOU NOW?
    SO HOW MANY PUBLICLY SPEAK FOR YOU NOW?


    You let them be beaten and bankrupted because you all have no balls
    NOW YOU GETTING YOUR BALLS CUT OFF FROM YOU AND YOU AND YOUR FAMILY RAPED AND FUCKED BY LEE KUAN YEW AND HIS COCKROACHES IN WHITE


    Why complain now?

    Your 400-500++ billions sucked and bled into LKY Temasick and GIC

    And even more billions are currently sucked and bled so that LKY can use those money to bastardised and pay his kangaroo courts and running dogs to bleed even more billions from you in future

    You got what you all deserved
    for your lack of balls


    FIND YOUR BALLS TO PUT AN END TO LKY

    or open your legs to be further screwed by him
     
  5. Conan the Barbarian

    Conan the Barbarian Alfrescian Old Timer

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    Of course not. Since when did people start getting the notion that
    CPF is your money. Its just a number in an account which is suppose
    to make you happy and feel rich every time you look at the statement.

    :D
     
  6. londontrader

    londontrader Alfrescian Old Timer

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    A Uniquely Singaporean experience
    You can borrow money from yourself
    and then pay interest to yourself
    the best part is that you (creditor & debtor) don't get to decide what the interest rate is
     
  7. SamuelStalin

    SamuelStalin Alfrescian Old Timer

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    That's share-share money :p:p:p
     
  8. ah_phah

    ah_phah Alfrescian Old Timer

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    sala liao, the interest is pay to cpf, not to yourself hor.
     
  9. jimmyfallon

    jimmyfallon Alfrescian Old Timer

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    Wait a minute, you have to pay interest into your own CPF account or pay the interest to CPF? Thats a double whammy if you have to pay interest to the CPF against your own CPF money that you take out as a "Loan". Canada here i come!!
     
  10. tonychat

    tonychat Alfrescian (InfP) Old Timer

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    One of the many cases that sinkie is getting screwed and what does the sinkie do?

    Yes , you are right. He will bend down further and turn back and smile and asked if they are screwing him comfortably.
     
    Last edited: Apr 17, 2009
  11. SIFU

    SIFU Alfrescian Old Timer

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    same like your prostitute ladyboy gf who will bend down and kena arse by dirty pricks for a pittance?:D

    :eek:Io::eek:Io:
     
  12. jw5

    jw5 Moderator Old Timer Old Timer

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    It is actually a loan from us to them.
    But the interest rate, terms of repayment and all other terms and conditions are unilaterally determined by them.
     
  13. londontrader

    londontrader Alfrescian Old Timer

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    very nicely said
    we lend them the money (not much choice there!)
    they invest it and earn XX %
    then they pay XX-X% back to us
    we get lower interest (they keep the extra) because our interest is suppose to be risk free
    Is it risk free when you have no control over your own $? If Singapore ever gets into an systemic crisis, do we say bye bye to our CPF $?
     
  14. londontrader

    londontrader Alfrescian Old Timer

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    The interest is paid back to your own CPF account. It represents the interest that the withdrawn sum would have earned if not used for education during that period (pegged to OA rate 2.5%).

    Now if your point is that CPF money belongs to the CPF Board anyway, then that is another story.
     
  15. TeeKee

    TeeKee Alfrescian Old Timer

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    were u the one who screwed Starhub upside down recently? :D
     
  16. londontrader

    londontrader Alfrescian Old Timer

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    Nope my name isn't tony tan
     
  17. takcheksian

    takcheksian Alfrescian Old Timer

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    Ah, but the money does belong to CPF board. Why do you think the number in your so-called CPF account is yours?

    If it is your property, you can do what you like with it. Try withdrawing your CPF money on demand. Then decide if it meets the criteria of 'private property'.
     
  18. londontrader

    londontrader Alfrescian Old Timer

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    Yes I agree that it doesn't meet that criteria
    My dad just received the last payment from his CPF retirement account. That leaves only his Medisave balance (not much) with the CPF Board. That's proof enough to me that the money did belong to him.
     
  19. jw5

    jw5 Moderator Old Timer Old Timer

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    Of course. It's not just about the return remember.
    The terms of repayment and all terms and conditions are unilaterally determined by them, meaning that if they decide not to pay you, what can you really do?
     
  20. londontrader

    londontrader Alfrescian Old Timer

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    That's right
    Everyone should remember that whenever LKY throws around that term "risk free"
     

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