PAP Official Feedback on CPF - PAP West Coast GRC

gingerlyn

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Happening now: PAP West Coast GRC press conference

Rebutting Reform Party's proposal to return CPF at age 55 and provide pension for every Singaporean above age 65, Mr Iswaran says: "Providing pension will put additional tax burden on Singaporeans, whereas the CPF system emphasises savings by the individual, but not just individual on his own as it's also about employer and government help."
 
Happening now: PAP West Coast GRC press conference

Mr Iswaran says of the CPF: "RP is making ad hoc statements that sound seductive, but they're challenging a sound system."
 
Happening now: PAP West Coast GRC press conference

Foo Mee Har says: "RP says that most CPF savings get 2.5% interest only. This is not true. 60 per cent of CPF members above age of 65 enjoy 6%, 80 per cent enjoy 5%." She adds that the CPF scheme has been made a lot more flexible and the recent set of announcements have significantly boosted retirement adequacy.
 
Without Roy Ngerng, do you honestly think these buffoons would even make a peep regarding the CPF? ;)
 
Happening now: PAP West Coast GRC press conference

Foo Mee Har says: "RP says that most CPF savings get 2.5% interest only. This is not true. 60 per cent of CPF members above age of 65 enjoy 6%, 80 per cent enjoy 5%." She adds that the CPF scheme has been made a lot more flexible and the recent set of announcements have significantly boosted retirement adequacy.

60% of cpf members enjoy 6% interest rate. Do you know how to get that 6%? see below. This just means 60% of those 65 years old and above don't even have more than $60k in their cpf combines balances. Something for pap to be proud of is it.

(An extra 1% interest per year is currently paid on the first $60,000 of a member’s combined balances, of which up to $20,000 comes from t​​​he OA.)
 
..................... 60 per cent of CPF members above age of 65 enjoy 6%, 80 per cent enjoy 5%."
[FONT=Arial, Helvetica, sans-serif]The above interest rates include an additional 1% interest paid on the first $60,000 of a member's combined balances (with up to $20,000 from the OA), which is part of the Government's efforts to enhance the retirement savings of CPF members.[/FONT]

[FONT=Arial, Helvetica, sans-serif]so its quite selective picking of facts here and there .....


[/FONT]
 
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