- Joined
- Dec 30, 2010
- Messages
- 12,730
- Points
- 113
Dr Dos is quite depressed. He is worried about his daily expenses. He told me that he need to pay for the utility bills, conservancy charges, his two other children’s education, household expenses etc. He barely could survive on his less than $2,000 take-home pay; not forgetting that his invalid son still need constant medical attention. If he need to set aside $300 to $350 monthly to service his housing loans, he could hardly survive given the current high costs of living. Dr Dos is the sole bread winner of the family of five.
Dr Dos thought over his problem. He thought that he had a solution to his financial problem. He proposed to the relevant authority that he would like to use his retirement funds in his special account to offset his balance housing loan which is about $56,000. He has about $61,000 in his special account. CPF board refused to entertain his request. CPF board says that his special account is meant for retirement and cannot be touched. Only ordinary account could be used to pay for housing loan.
Dr Dos says that if he were to use his $61,000 special account to pay off his remaining housing loan of $56,000, his current financial burden would be much lessen. After all, he still has his 4-room A model HDB flat fully paid up. It is still an asset where he could sell, downgrade or rent out two rooms if he really can’t work any more. He plans to leave this flat to his invalid son. CPF board just refused to listen to him. CPF board says that rules are rules, cannot be changed. HDB also says the same thing. But rules are made by humans and rules surely can be changed right? Dr Dos says that maybe if he votes for the opposition, the rules will change since this government won’t want to change the rules. It is his money. He is free to use his money in whatever way he deems appropriate! Who are you to tell me how am I going to use or spend my CPF money. I am not asking for free handouts, so says Dr Dos.
The immediate serious problem is that he could hardly survive on his meagre take-home pay of below $2,000 after paying more than $300 cash to service his housing loan. If he cannot survive the present circumstances, what future retirement fund the government is talking about? They are just forcing me up the wall, says Dr Dos. Sometimes, these people just don’t understand the pain and the suffering we are going through according to Dr Dos. What about those who worked but never had CPF in their life at all? Those self-employed or never declare CPF at all? Dr Dos says those people also got no CPF for their retirement in their special account.
http://gintai.wordpress.com/2012/10/05/my-own-cpf-money-who-decide-you-or-me/
Dr Dos thought over his problem. He thought that he had a solution to his financial problem. He proposed to the relevant authority that he would like to use his retirement funds in his special account to offset his balance housing loan which is about $56,000. He has about $61,000 in his special account. CPF board refused to entertain his request. CPF board says that his special account is meant for retirement and cannot be touched. Only ordinary account could be used to pay for housing loan.
Dr Dos says that if he were to use his $61,000 special account to pay off his remaining housing loan of $56,000, his current financial burden would be much lessen. After all, he still has his 4-room A model HDB flat fully paid up. It is still an asset where he could sell, downgrade or rent out two rooms if he really can’t work any more. He plans to leave this flat to his invalid son. CPF board just refused to listen to him. CPF board says that rules are rules, cannot be changed. HDB also says the same thing. But rules are made by humans and rules surely can be changed right? Dr Dos says that maybe if he votes for the opposition, the rules will change since this government won’t want to change the rules. It is his money. He is free to use his money in whatever way he deems appropriate! Who are you to tell me how am I going to use or spend my CPF money. I am not asking for free handouts, so says Dr Dos.
The immediate serious problem is that he could hardly survive on his meagre take-home pay of below $2,000 after paying more than $300 cash to service his housing loan. If he cannot survive the present circumstances, what future retirement fund the government is talking about? They are just forcing me up the wall, says Dr Dos. Sometimes, these people just don’t understand the pain and the suffering we are going through according to Dr Dos. What about those who worked but never had CPF in their life at all? Those self-employed or never declare CPF at all? Dr Dos says those people also got no CPF for their retirement in their special account.
http://gintai.wordpress.com/2012/10/05/my-own-cpf-money-who-decide-you-or-me/
