I am opting out of that $1 monthly contribution to CDAC. Here's why...

[LITTLEREDDOT]

The CDAC fund has $55.17 million (net of liabilities). The CDAC is supposed to help the Chinese community, why are they hoarding the workers' contributions to such a staggering amount. When are they going to use the $55 million to help the Chinese?

http://www.cdac.org.sg/cdac_corp/resource/fin nonfin 2012/fin 2012.pdf

 

[leetahbar]

this one is pure daylight robbery!

in the lst place, they didn't ask for your consent b4 they help themselves to $1 deduction every month.

 

[gingerlyn]

how to opt out? I thought CDAC is compulsory?

 

[LITTLEREDDOT]

From the FAQs:

9. How can I opt-out from the scheme?

A: You may obtain the CDAC Opt-Out Form from our website: www.cdac.org.sg. The form
has to be endorsed by the employer with company stamp and forwarded to us via fax
(Fax: 6841 4882), email (Email: [email protected]) or mail.

FAQs and Opt-out form is here:
http://www.cdac.org.sg/eng/about_us/cpf_contributions.htm

 

[Hans168]

Din noe can opt out...........!!!

 

[GOD IS MY DOG]

they got say give out how much money a year ?

or most of the money went to paying their own staff ?

 

[ahhock24]

Donation approx $11-12m yearly, total employee cost $4-5m. What a efficient organisation, huat ah!!

 

[ryutanahgou]

Not happy just opt out.

 

[laksaboy]

how to opt out? I thought CDAC is compulsory?

Just tell your HR/admin person in your company that you want to opt out.

The deduction won't be there in the next paycheck.

Typical PAP govt bullshit forced down your throat: you're automatically in unless you opt out.


:kma:

 

[gingerlyn]

wanted to do that but worried that my admin / hr manager may talk bad behind my back and telling colleagues that i am very petty

Just tell your HR/admin person in your company that you want to opt out.

The deduction won't be there in the next paycheck.

Typical PAP govt bullshit forced down your throat: you're automatically in unless you opt out.


:kma:

 

[songsongjurong]

Drawing parallel to the disgraced durai's NKF. The CDAC employee huat! Free scholarship w lodging and allowance for non.sinkie! TUA HUAT AH!

 

[laksaboy]

wanted to do that but worried that my admin / hr manager may talk bad behind my back and telling colleagues that i am very petty

You need to do the right thing and not give a toss about other people's opinions.

 

[chootchiew]

Just tell your HR/admin person in your company that you want to opt out.

The deduction won't be there in the next paycheck.

Typical PAP govt bullshit forced down your throat: you're automatically in unless you opt out.


:kma:

HR will not help to opt out. We have to download the form ourself, fill in and faxed or mail to HR.
Initially IU keep opting out, but I keep changing jobs, each time change job will need to opt out again. I opt till tired liao so currently is paying..knn :oIo: