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[h=2]Is CPF Broke?[/h]
June 12th, 2012 |
Author: Contributions
We pay to the CPF Board hoping to retire with peace of mind when we finally take a break before we die. The people in PAP keeps moving the goalposts. Way back in the 60’s and 70’s we were promised that we would receive our CPF (with interest) at age 55. Look what’s happening now? It went from age 55 to 60 to 62 to 65 to… kingdom comes!
They screwed us with:
Economists and financial experts like Christopher Balding [Link] and Kenneth Jeyaratnam [Link] and [Link] have come up with their report and theories of the funny but scary financial situation that Singapore is in. Kenneth has written to Tony Tan (President of Singapore) and Tharman Shamugaratnam (DPM and Finance Minister of Singapore) to ask what, where and why Singaporeans’ reserves are. However, poor Kenneth has yet to receive a reply.
I do not think a reply is forthcoming from the ruling PAP because I can still remember what they did to our ex-President Ong Teng Cheong when he asked to know of our reserves. [Link on why he wasn't given a state funeral] [Link on his interview with Asiaweek]
As an ordinary Singaporean with no knowledge of economics or financial expertise, my gut feel is our reserve is fooked! Like our former President Mr Ong Teng Cheong could not know, we will not know! My simple minded reasoning is – if the money is there, why does PAP need to delay the withdrawal of CPF savings with deceptions like:
I am sad to note that CPF is so fookin’ broke that they have to charge CPF members an administrative fee of more than $3.00 (plus co-payment and deductibles) for sick senior citizens to use their own Medisave savings to pay for the medical bill in Polyclinic!
Is CPF broke?
.
Rationale for CPF Board’s Corporate Logo
The circle draws emphasis on the completeness of the CPF system as a guaranteed social security savings scheme.
The shield represents security and protection for our members in their retirement.
The three keys represent the unity in the tripartite relationship among employees, employers and the Government.
Lastly, the use of the colour green in our logo highlights CPF’s constant growth and dynamism.
My dear readers, in the words of DPM Teo Chee Hean: “SO, WHAT DO YOU THINK?”
.
feedmetothefish
FeedMeToTheFish is an online blogger since Sep 2007. On his profile, he said: “I’m sick and tired of being sick and tired. The double speak, the hubris that I get from the power that is especially the leeders irks me no end. The balls carrying sychophantic mainstream media suffocate me. I can hardly breathe. Some say I may get radicalised, but fortunately, the alternative news and views that I get from internet keeps me sane. The ability to write in this blog gets the elephant off my chest and helps me breathe easier. It lightens me up! When it’s all said and done, just feedmetothefish. With my crazy writing, my children and the greatgrandma of my granddaughter worry that the “legal/factual” big stick will come after me for being radicalised or for being ridiculous
Hopefully, the fish will get me first He blogs at http://feedmetothefish.blogspot.com.
We pay to the CPF Board hoping to retire with peace of mind when we finally take a break before we die. The people in PAP keeps moving the goalposts. Way back in the 60’s and 70’s we were promised that we would receive our CPF (with interest) at age 55. Look what’s happening now? It went from age 55 to 60 to 62 to 65 to… kingdom comes!
They screwed us with:
- Medisave
- Minimum Sum Scheme
- Compulsory Annuity (CPF Life?)
Economists and financial experts like Christopher Balding [Link] and Kenneth Jeyaratnam [Link] and [Link] have come up with their report and theories of the funny but scary financial situation that Singapore is in. Kenneth has written to Tony Tan (President of Singapore) and Tharman Shamugaratnam (DPM and Finance Minister of Singapore) to ask what, where and why Singaporeans’ reserves are. However, poor Kenneth has yet to receive a reply.
I do not think a reply is forthcoming from the ruling PAP because I can still remember what they did to our ex-President Ong Teng Cheong when he asked to know of our reserves. [Link on why he wasn't given a state funeral] [Link on his interview with Asiaweek]
As an ordinary Singaporean with no knowledge of economics or financial expertise, my gut feel is our reserve is fooked! Like our former President Mr Ong Teng Cheong could not know, we will not know! My simple minded reasoning is – if the money is there, why does PAP need to delay the withdrawal of CPF savings with deceptions like:
- Medisave
- Minimum Sum Scheme
- Compulsory Annuity (CPF Life?)
I am sad to note that CPF is so fookin’ broke that they have to charge CPF members an administrative fee of more than $3.00 (plus co-payment and deductibles) for sick senior citizens to use their own Medisave savings to pay for the medical bill in Polyclinic!
Is CPF broke?
.
Rationale for CPF Board’s Corporate Logo
The circle draws emphasis on the completeness of the CPF system as a guaranteed social security savings scheme.
The shield represents security and protection for our members in their retirement.
The three keys represent the unity in the tripartite relationship among employees, employers and the Government.
Lastly, the use of the colour green in our logo highlights CPF’s constant growth and dynamism.
.
Rationale for CPF Board’s 50th Anniversary Logo
The CPF Anniversary logo comprises the Board’s logo and the symbolic 50 which denotes 50 years of CPF history.
The numeric symbol “50″ underscores the Board’s long-standing commitment in helping our members save for their retirement. Its bold stroke suggests qualities of spontaneity and creativity. It also demonstrates our confidence in the many collaborative relationships we have forged with our stakeholders through the years. Placed securely next to our corporate logo, the 50th Anniversary logo reaffirms our vision in a planned future.
The colour scheme, crimson yellow and green, creates a contemporary, refreshing appeal with a touch of warmth. Crimson yellow represents 50 golden years of strength and illumination. Our corporate colour green signifies constant growth and dynamism.
Signed across the “50th ” anniversary symbol is the tagline – “Saving for our retirement”, an axiom that captures the essence of the Board’s mission.
An enlightening question that we must ask ourselves with regards to CPF: “ARE WE FOOKED YET?”Rationale for CPF Board’s 50th Anniversary Logo
The CPF Anniversary logo comprises the Board’s logo and the symbolic 50 which denotes 50 years of CPF history.
The numeric symbol “50″ underscores the Board’s long-standing commitment in helping our members save for their retirement. Its bold stroke suggests qualities of spontaneity and creativity. It also demonstrates our confidence in the many collaborative relationships we have forged with our stakeholders through the years. Placed securely next to our corporate logo, the 50th Anniversary logo reaffirms our vision in a planned future.
The colour scheme, crimson yellow and green, creates a contemporary, refreshing appeal with a touch of warmth. Crimson yellow represents 50 golden years of strength and illumination. Our corporate colour green signifies constant growth and dynamism.
Signed across the “50th ” anniversary symbol is the tagline – “Saving for our retirement”, an axiom that captures the essence of the Board’s mission.
My dear readers, in the words of DPM Teo Chee Hean: “SO, WHAT DO YOU THINK?”
.
feedmetothefish
FeedMeToTheFish is an online blogger since Sep 2007. On his profile, he said: “I’m sick and tired of being sick and tired. The double speak, the hubris that I get from the power that is especially the leeders irks me no end. The balls carrying sychophantic mainstream media suffocate me. I can hardly breathe. Some say I may get radicalised, but fortunately, the alternative news and views that I get from internet keeps me sane. The ability to write in this blog gets the elephant off my chest and helps me breathe easier. It lightens me up! When it’s all said and done, just feedmetothefish. With my crazy writing, my children and the greatgrandma of my granddaughter worry that the “legal/factual” big stick will come after me for being radicalised or for being ridiculous
Hopefully, the fish will get me first He blogs at http://feedmetothefish.blogspot.com.
