The Most Likely Reasons Why Your CPF Money Will Not Be Returned Lump Sum

[xingguy]

Source: The Real Singapore

THE MOST LIKELY REASONS WHY YOUR CPF MONEY WILL NOT BE RETURNED LUMP SUM

Post date: 17 Jun 2014 - 6:58pm

Let's cut away all the nonsense and wave away all the smoke from the smoke screen, shall we?

You will not get your CPF lump sum monies back because CPF most likely does not have the cash to return to you.

To those of you who have lent money to someone, how do they behave when they can't repay you? They make excuses, cook up fanciful stories, or tell sob stories of why they need the money just a little while longer. But whatever the reason, it doesn't change the fact one bit that they don't have the cash to return you in full.

It is a very high possibility that the bulk of your our CPF monies are either tied up in investments or lost in bad investment decisions. To attempt to return to all CPF members their monies would be equivalent to a bank run. Ever seen lots of people queuing up at a bank demanding their savings back? Yeah, that will happen if CPF has to return you back all your money at a go.

The situation would be better if the government was more honest about this from the start, and just admit that CPF doesn't have the cash on hand to return to everyone at age 55 or whatever legal retirement age. Instead, they tell complicated stories, draw flip charts, and even get PAP members not related to CPF to explain CPF in simpler terms. Now, people are frustrated and suspicious about what is really happening at CPF.

Are PAP MPs such as Hri Kumar, Tan Chuan Jin, Lim Swee Say and Chan Chun Sing employees or directors of CPF?

If no, then on what basis are they to assure the public about the security of CPF? How is it they, who are not working for CPF in any way, are privy to the financial health of CPF? Are they saying that simply because they are PAP members, therefore they are qualified to explain to us about the security and health of the CPF monies?

Why only PAP MPs can try to explain how CPF works? Why not WP MPs? CPF is supposed to be non-partisan, and now, the whole issue has taken a partisan stand, when party members who are not working for CPF, seem to be able to explain the inner workings of CPF and the safety of everyone's retirement funds.

As far as many of us are concerned, all MPs, regardless of party affiliation, are part of the government. They have the legal mandate of the voters to represent them in parliament. No such nonsense about PAP = government, and government = PAP only. That's destructive and exclusionary politics.



Retiree

TRS Contributor

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*Note: Another thread you might be keen to read: How our CPF Ponzi scheme will end in tears for CPF members

 

[winnipegjets]

The PAP will prove to sinkees that the government has the money. It will let sinkees withdraw all their CPF money from Jan 1, 2015 and keep it until after GE2016. For that, you must vote for the PAP.

 

[Lionheart]

the cpfb is flooded with cash
dont have to worry
you will all get your cash

 

[winnipegjets]

the cpfb is flooded with cash
dont have to worry
you will all get your cash

I believe you only after I am drunk.

 

[tonychat]

about 6 or 7 years ago, i already posted in the forum saying that the CPF has already been bankrupted.. as so said by some businessmen.

now sinkies then realised that????

i think it is better to be a businessman, businessman seems to know about things much much earlier and make preparation to avoid the worst.

 

[tonychat]

The situation would be better if the government was more honest about this from the start, and just admit that CPF doesn't have the cash on hand to return to everyone at age 55 or whatever legal retirement age. Instead, they tell complicated stories, draw flip charts, and even get PAP members not related to CPF to explain CPF in simpler terms. Now, people are frustrated and suspicious about what is really happening at CPF.

They do all these shit because they still have the thick skin to want to be voted in again in the next election.. I just dun understand if they are not capable in their job , then fucked off lah, still sit there for what??

oh i know, they are sinkies...that is how they behave.

 

[Lionheart]

about 6 or 7 years ago, i already posted in the forum saying that the CPF has already been bankrupted.. as so said by some businessmen.

now sinkies then realised that????

i think it is better to be a businessman, businessman seems to know about things much much earlier and make preparation to avoid the worst.

bankrupt your head lah
cpfb is flooded with cash
dont know pls keep quiet

 

[halsey02]

the cpfb is flooded with cash
dont have to worry
you will all get your cash

Like the PAP who demand proof, publish annual the P&L statement of CPF, or the auditor's report or auditor general report, for us to see, that CPF is flooded with cash!

 

[Lionheart]

Like the PAP who demand proof, publish annual the P&L statement of CPF, or the auditor's report or auditor general report, for us to see, that CPF is flooded with cash!

belive me bro
cpfb is flooded with cash
it is a state's secret that we dont reveal too much
of our great wealth and prosperity
sleep well...watch wc

 

[escher]

WE ALL KNOW THE PAPs TELL US LIES AFTER LIES
WHICH IS WHY I KEPT REPEATING




Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.
BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.
Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.
Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.

PAP is finished.
The stinking glue and terror that hold PAP together is that old fart smear of shit on sole of shoe LKY. LKY is about to die in days or weeks.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP. Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.
None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.
They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.


WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS
WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN
WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.
AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.
https://www.torproject.org/about/overview.html.en

 

[laksaboy]

It's like fractional reserve banking: the bank only has a small amount of money physically present than it has on paper. The rest of the money is used to make investments and loans.

When everyone wants to withdraw their money, a bank run occurs, panic ensues... and Cyprus happens.

Of course, no 'bank run' will happen on the CPF, as all the pappies have to do is increase the barriers and the excuses.

 

[Cerebral]

They do all these shit because they still have the thick skin to want to be voted in again in the next election.. I just dun understand if they are not capable in their job , then fucked off lah, still sit there for what??

oh i know, they are sinkies...that is how they behave.

I think you have have to look at this in a different manner. They do not have thick skin and want to be votes in again, but rather, they cannot don't get voted because, if the opposition formed the government, the Lee family and their band of merrymen will be imprisoned for all the acts they have committed over the years. Chinese saying - 奇虎难下

 

[Cerebral]

It's like fractional reserve banking: the bank only has a small amount of money physically present than it has on paper. The rest of the money is used to make investments and loans.

When everyone wants to withdraw their money, a bank run occurs, panic ensues... and Cyprus happens.

Of course, no 'bank run' will happen on the CPF, as all the pappies have to do is increase the barriers and the excuses.

I think this is a given. The interesting question is the percentage of cash holding they are keeping to. I think most banks are holding around 20% as required by MAS, but CPF is not a bank and hence those rules does not apply...

 

[xingguy]

I think this is a given. The interesting question is the percentage of cash holding they are keeping to. I think most banks are holding around 20% as required by MAS, but CPF is not a bank and hence those rules does not apply...

Source: likedatosocanmeh blog

*** Deleted ***

CPF not Ponzi scheme because previously all members were paid

When it comes to investing, history lovers should take note that “past performance is no guarantee of future results”. Ponzi schemes usually start off well and the problem is at the tail end where redemptions occur.

The reason why CPF was able to pay all its members in full upon reaching 55 was the increasing support of new members. Presently, the rate of increase in the number of CPF members and also the CPF amounts have declined. Changes in immigration policy will also have an effect.

The PAP is trying to prevent CPF withdrawals leading to a net reduction in GIC assets ie sell its investments in the open market to pay CPF members. From a paper loss, GIC’s losses will then be realised and reported. PAP must prevent such disclosures at all costs.

Ponzi schemes ultimately collapse because of redemption (withdrawal)

Bernard Madoff Ponzi scheme, the biggest financial fraud in US history, unraveled because of a $7 billion redemption. Without the redemption, Madoff would not have been caught. Redemptions are equivalent to withdrawals in CPF.

CPF faces a similar situation where the mother of all withdrawals (redemption) is at its doorstep. What makes it so different from the Madoff case is that the government is able to change the rules of the game at its whim by mandating more funds for GIC. The only way for for GIC to get caught with its pants down is to have all its books opened. With the PAP’s overwhelming presence in parliament, this is not likely to happen any time soon.

Summary

Our CPF system has morphed into a sort of Ponzi scheme. CPF members are most concerned by the total lack of transparency.
The government creates even more suspicions by mandating a perpetually higher CPF Minimum Sum. Again, the issue of transparency arises because there was no parliamentary debate. The issue of transparency features prominently in a Ponzi scheme.
The Ponzi CPF scheme will come to light with the mother of all withdrawals ie $78 billion is held by those aged between 45 and 55 in 2012. The PAP has attempted to prevent this at all costs.
Young ordinary citizens must know that at the rate of increase, the MS will be more than $500,000 in 20 years time. They will not be able to meet this ridiculous requirement.
When ALL MPs have ignored the CPF elephant in the room, their collective silence is a troubling sign. Is GIC too big to fail?
Increasing the population to bring in new CPF members to support the scheme has a limit.

In its current form, the CPF system is nothing but a Ponzi scheme designed to benefit the PAP and is severely detrimental to ordinary citizens’ interests. It can drag on for years but will ultimately collapse and end in tears for CPF members.

P S

“CPF members will be required to have a MS of $526,679..” – correct figure should be “$434,937″. “$526,679″ is for 5% inflation rate.

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[tonychat]

bankrupt your head lah
cpfb is flooded with cash
dont know pls keep quiet

you are too late for this type of blowing trumpet.

Singaporeans already know that the CPF has no more money and they want the Lee Family and the PAP to answer for it..

Only losers like you will try to blow this type of nonsense and defend a lost cause.. I am looking forward to see the Lee family being jailed for their deeds.

 

[escher]

I think you have have to look at this in a different manner. They do not have thick skin and want to be votes in again, but rather, they cannot don't get voted because, if the opposition formed the government, the Lee family and their band of merrymen will be imprisoned for all the acts they have committed over the years. Chinese saying - 奇虎难下

NOT JUST IMPRISONMENT, MUST INCLUDE HANGING AND DANGLINGs


NOT JUST IMPRISONMENT, MUST INCLUDE HANGING AND DANGLINGs


NOT JUST IMPRISONMENT, MUST INCLUDE HANGING AND DANGLINGs


NOT JUST IMPRISONMENT, MUST INCLUDE HANGING AND DANGLINGs

 

[Reddog]

Hee Hee. These are the same guys that declared that the introduction of the GST is to help the poor ?! Great.

 

[singveld]

long term investment as sovereign wealth funds, unable to get back in short time.

 

[johnny333]

The PAP has all the population & CPF data. So it should not come as a surprise when these dollars have to be returned to their owners.

Unless of course you have inept famiLEE members speculating & gambling with tax payers money.