Roy Ngerng should not retract his article and say sorry to the PM!!

[Isogallardo]

He should contest it in court if what he said is factual!

 

[Leongsam]

Since when have opposition lunatics ever bothered about being factual?

They sprout rubbish on a daily basis.

The moronic oppo IB in this forum are no different. For example they keep repeating ad nauseum that the CPF withdrawal age is a moving target.

Nothing could be further from the truth. The withdrawal age remains at 55 and has never been changed since the day the PAP took office.

The FACTS are all here. http://en.wikipedia.org/wiki/Central_Provident_Fund

At 55
At age 55, the CPF savings may be withdrawn after setting aside the CPF minimum sum. Members may also join CPF LIFE or buy approved life annuities with their MS to give them a guaranteed income for life. Alternatively, they may continue to keep their MS with the CPF Board to earn 4% interest per annum currently. The interest rate is revised yearly.

 

[scroobal]

I would not worry too much. Roy Ngerng case no matter what the outcome will cause the PAP another 10% of the votes and possibly another 5 seats. It people like Roy that will add to the toll.

If there was no Roy, issues about the CPF would not have such a high profile.

 

[po2wq]

He should contest it in court if what he said is factual! ...

he shud b given access 2 all a/c's of cpf, temasik, gic etc in order dat he can prove wat he said is factual ...

 

[scroobal]

There is huge difference between withdrawing the entire amount and withdrawing none at all at the age of 55. The withdrawal age is not the issue. Until they changed moved the goal posts, one could withdraw the entire amount at age 55.

One could argue that I was sold a packet of kway Teow despite the fact that the packet is half full and no other ingredients are in it and that it was not even cooked. And yes it was pack of kway of teow.

 

[wMulew]

There is huge difference between withdrawing the entire amount and withdrawing none at all at the age of 55. The withdrawal age is not the issue. Until they changed moved the goal posts, one could withdraw the entire amount at age 55.

One could argue that I was sold a packet of kway Teow despite the fact that the packet is half full and no other ingredients are in it and that it was not even cooked. And yes it was pack of kway of teow.

Dumbfuck opposition supporting retard. Your precious dreamland Australia wants to move their retirement age to 70, why U never make noise?

 

[Leongsam]

I would not worry too much. Roy Ngerng case no matter what the outcome will cause the PAP another 10% of the votes and possibly another 5 seats. It people like Roy that will add to the toll.

If there was no Roy, issues about the CPF would not have such a high profile.

If people like Roy are allowed to make outlandish claims without any evidence whatsoever, the confidence in the Singapore system would be undermined with dire consequences.

For example millionaires who wish to park their riches in the country may think twice if they harbour doubts about the financial strength and stability of the government. Corporations would be hesitant too. Many set up HQs in Singapore because of currency stability and prudent financial management by the PAP.

I fully support LHL's demands for an apology and a retraction. Roy does not have a shred of evidence to support his utterances. If he did he would have presented it for the public to see.

How would you like it if someone started spreading lies about you being a pedophile or serial rapist just because he doesn't like you. Would you take it lying down? I certainly wouldn't.

 

[Leongsam]

There is huge difference between withdrawing the entire amount and withdrawing none at all at the age of 55. The withdrawal age is not the issue. Until they changed moved the goal posts, one could withdraw the entire amount at age 55.

The only people who cannot withdraw anything at all at 55 are those that have saved a pittance after a lifetime of work. These people need to be looked after financially by the government as they are obviously incompetent.

Everyone else can draw the entire amount above the minimum sum. My cousin withdrew more than half a million dollars at the end of last year and has just used the money to buy an apartment in Auckland.

He intends to spend a few months a year here from now on. He told me that his CPF savings were a godsend and he is very appreciative of the government for setting up such an excellent scheme.

 

[kaipoh]

You another dick head, the withdrawal 55yo has not change since day one but the min. amount to be set aside and withdrawal amount changed isn't is worse. example: simplify version.
2011 when you reached 55, you have 90K in cpf you can draw out 45K
2014 when you reached 55 you have 100K in your cpf you can only draw 5K
see the different?

Since when have opposition lunatics ever bothered about being factual?

They sprout rubbish on a daily basis.

The moronic oppo IB in this forum are no different. For example they keep repeating ad nauseum that the CPF withdrawal age is a moving target.

Nothing could be further from the truth. The withdrawal age remains at 55 and has never been changed since the day the PAP took office.

The FACTS are all here. http://en.wikipedia.org/wiki/Central_Provident_Fund

 

[sochi2014]

Angmo countries damn solid.

This kind of cases, they could invoke the freedom of information act to open all CPF-Temasek money flows account books!

Too bad SPORE is not an angmo country!! LOL!

 

[Papsmearer]

Since when have opposition lunatics ever bothered about being factual?

They sprout rubbish on a daily basis.

The moronic oppo IB in this forum are no different. For example they keep repeating ad nauseum that the CPF withdrawal age is a moving target.

Nothing could be further from the truth. The withdrawal age remains at 55 and has never been changed since the day the PAP took office.

The FACTS are all here. http://en.wikipedia.org/wiki/Central_Provident_Fund

The withdrawal of CPF has nothing to do with age, you moron. Up till now, your retarded brain still can't figure it out? It has to do with the minimum sum. U can be at 55, 60, 65, etc. if u don't have the minimum sum, you cannot withdraw shit. Stop spouting your stupid shit here.

 

[bakkuttay]

the withdrawal of cpf has nothing to do with age, you moron. Up till now, your retarded brain still can't figure it out? It has to do with the minimum sum. U can be at 55, 60, 65, etc. If u don't have the minimum sum, you cannot withdraw shit. Stop spouting your stupid shit here.

b i n g o ! ! ! ! ! !

 

[Isogallardo]

The withdrawal of CPF has nothing to do with age, you moron. Up till now, your retarded brain still can't figure it out? It has to do with the minimum sum. U can be at 55, 60, 65, etc. if u don't have the minimum sum, you cannot withdraw shit. Stop spouting your stupid shit here.

Obviously morons will be morons who dont look up on CPF website to look for it and claim you cant draw out any money even if you dont reach minimum sum.

FYI. here it is. You can draw out at least $5k even if you dont meet the minimum sum.

http://www.mom.gov.sg/newsroom/Pages/PressRepliesDetail.aspx?listid=235

And you even be exempted from minimum sum if you bought your own life annuity.

http://www.drwealth.com/2014/05/11/understanding-cpf-minimum-sum-scheme/

 

[Papsmearer]

Obviously morons will be morons who dont look up on CPF website to look for it and claim you cant draw out any money even if you dont reach minimum sum.

FYI. here it is. You can draw out at least $5k even if you dont meet the minimum sum.

http://www.mom.gov.sg/newsroom/Pages/PressRepliesDetail.aspx?listid=235

And you even be exempted from minimum sum if you bought your own life annuity.

http://www.drwealth.com/2014/05/11/understanding-cpf-minimum-sum-scheme/

No, u fucking retard. Sam maintains that CPF can be withdrawn at 55. We are talking about complete withdrawal, not partial, not $5000.

 

[Leongsam]

You another dick head, the withdrawal 55yo has not change since day one but the min. amount to be set aside and withdrawal amount changed isn't is worse. example: simplify version.
2011 when you reached 55, you have 90K in cpf you can draw out 45K
2014 when you reached 55 you have 100K in your cpf you can only draw 5K
see the different?

The sum cannot be kept static for the simple reason that the the value of money changes with time.

Please read http://en.wikipedia.org/wiki/Time_value_of_money in order to educate yourself.

However, this does not alter the fact that any Singaporean can withdraw the full amount in excess of the minimum sum at the age of 55. This age has not changed since day one. The PAP government has always honored its word. That is why the bond between the government and the people is so strong.

 

[Thick Face Black Heart]

The only people who cannot withdraw anything at all at 55 are those that have saved a pittance after a lifetime of work. These people need to be looked after financially by the government as they are obviously incompetent.

Everyone else can draw the entire amount above the minimum sum. My cousin withdrew more than half a million dollars at the end of last year and has just used the money to buy an apartment in Auckland.

He intends to spend a few months a year here from now on. He told me that his CPF savings were a godsend and he is very appreciative of the government for setting up such an excellent scheme.

You are always fond of using anecdotes to support your half-baked assertions. The statistics however don't lie. It is true that over half of Singaporeans withdraw little or none at age 55 because of the stupid minimum sum requirement. So over half of Singaporeans are retarded or incompetent? Or is it because the government has suppressed wages and in so doing prevented Singaporeans from earning and saving?

Why also does the retirement age keep increasing? If the economic system was vibrant people would be making a good living and they won't need to be asked to retire later. Obviously our system only works for the elite few whilst the masses have their wages suppressed by artificial policy like influx of cheap labour.

Want to argue, argue with statistics. Anecdotes impress no one.

 

[Leongsam]

No, u fucking retard. Sam maintains that CPF can be withdrawn at 55. We are talking about complete withdrawal, not partial, not $5000.

I have not claimed anywhere that you can empty your CPF account at 55. I have been consistent in telling everyone, apart from the small minimum sum, the bulk can be withdrawn at 55.

All my friends and relatives who have reached 55 have withdrawn their CPF savings and used the funds for a variety of purposes. Some invested in overseas property, some have spent a portion of the money on their hobbies, some have invested the money in various financial entities with the aim of achieving a higher yield.

 

[The_Hypocrite]

So what happens when you do not have enough to meet the CPF minimum sum in your CPF account?

I have not claimed anywhere that you can empty your CPF account at 55. I have been consistent in telling everyone, apart from the small minimum sum, the bulk can be withdrawn at 55.

All my friends and relatives who have reached 55 have withdrawn their CPF savings and used the funds for a variety of purposes. Some invested in overseas property, some have spent a portion of the money on their hobbies, some have invested the money in various financial entities with the aim of achieving a higher yield.

 

[steffychun]

OT: never heard of the surname Ngeng before.

 

[xingguy]

Deleted.
Re-post again.