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I just read the ST this morning and there is a report on Rene Yap’s case. According to Amy Khor, CPF is trying to help Rene to withdraw her savings. However, Rene still has to abide by CPF’s regulation, ie that she must leave a minimum sum or pledge her property to the CPF before she can take out all her savings.
What is this minimum sum that is being introduced by the CPF that effectively said the people owe the CPF a sum of money and if this sum is not placed in the CPF, either in cash or a pledge with a property, then a sum equivalent to the minimum sum must be kept in the CPF.
Two points to this, the first of course is why should a retiree be compelled to keep a huge sum of money with the CPF when he should be living his golden years and enjoying his lifelong savings? Oh, he must keep the money, a minimum sum that is growing every year and now about $200k, so that he would not be a burden to the govt in case he squanders his money with mei meis or in Batam. It is for his own good. The govt is so caring. See my middle finger? I can’t hold it down.
The other point is that Rene is from a generation that should not be affected by all the new regulations introduced before her time. The minimum sum should not be applicable to her and those of her generation and to several generations. It should not be applicable to everyone if one rejects this ‘govt is your father’ and has the right to keep your money for your own good idiotic reason.
The CPF is the people’s money for their retirement and how they want to spend their money in retirement is none of the govt’s business. Don’t give people the crap that if they squandered away their money who is to pay for them to live on? Not the govt for sure. This is not a welfare state. And do not insult the intelligence of the people to find their way to survive without the need to beg the govt for a meal in the hawker centre, foodcourt or the restaurant.
From Amy’s and CPF’s reasoning in the ST, they are all so willing to help Rene. But the likelihood of Rene getting all her money back from the CPF is as good as zilch. She must comply with the minimum sum requirements, ie a ransom that she has to pay to the CPF. Actually no, they don’t call it ransom. They call it for your good or for the good of the members that they must make the people pay out front inn the form of the minimum sum.
So Rene’s case is as good as close and Rene can kpkb till the cow comes home. Amy Khor and the CPF will be on their knees trying to help her. I am so touch, but the answer is still no. Because CPF rules say so.
Rene should pray for a miracle to get all her money back from the CPF.
http://mysingaporenews.blogspot.sg/...ign=Feed:+MySingaporeNews+(My+Singapore+News)
What is this minimum sum that is being introduced by the CPF that effectively said the people owe the CPF a sum of money and if this sum is not placed in the CPF, either in cash or a pledge with a property, then a sum equivalent to the minimum sum must be kept in the CPF.
Two points to this, the first of course is why should a retiree be compelled to keep a huge sum of money with the CPF when he should be living his golden years and enjoying his lifelong savings? Oh, he must keep the money, a minimum sum that is growing every year and now about $200k, so that he would not be a burden to the govt in case he squanders his money with mei meis or in Batam. It is for his own good. The govt is so caring. See my middle finger? I can’t hold it down.
The other point is that Rene is from a generation that should not be affected by all the new regulations introduced before her time. The minimum sum should not be applicable to her and those of her generation and to several generations. It should not be applicable to everyone if one rejects this ‘govt is your father’ and has the right to keep your money for your own good idiotic reason.
The CPF is the people’s money for their retirement and how they want to spend their money in retirement is none of the govt’s business. Don’t give people the crap that if they squandered away their money who is to pay for them to live on? Not the govt for sure. This is not a welfare state. And do not insult the intelligence of the people to find their way to survive without the need to beg the govt for a meal in the hawker centre, foodcourt or the restaurant.
From Amy’s and CPF’s reasoning in the ST, they are all so willing to help Rene. But the likelihood of Rene getting all her money back from the CPF is as good as zilch. She must comply with the minimum sum requirements, ie a ransom that she has to pay to the CPF. Actually no, they don’t call it ransom. They call it for your good or for the good of the members that they must make the people pay out front inn the form of the minimum sum.
So Rene’s case is as good as close and Rene can kpkb till the cow comes home. Amy Khor and the CPF will be on their knees trying to help her. I am so touch, but the answer is still no. Because CPF rules say so.
Rene should pray for a miracle to get all her money back from the CPF.
http://mysingaporenews.blogspot.sg/...ign=Feed:+MySingaporeNews+(My+Singapore+News)
