The REAL issue with the CPF

[Leongsam]

Your relatives again, how many relatives do you have:*:

I have 7 cousins still living in Singapore. They all think that PAP is the best.

 

[Sinkie]

The three main complaints against the CPF for the low balance in our CPF account at age 55 can be summarised as below:
(1) Low annual returns at 2.5 - 4%. We all know the power of compound interest.
(2) High MS making withdrawal at age 55 difficult
(3) Low or little balance in CPF because funds had been channelled to pay for high HDB mortgages

The govt can solve (1) if they want to because GIC and TH reportedly are enjoying double digit returns then surely there is little problem in paying CPF account holders better returns.

As for (2) it is not really a major issue. The full sum may not be returned at 55 (after all it may still be a good idea to lock up a small portion in CPF for old age) but the MS figure can be adjusted to say by reducing it by two-thirds or half.

Now (3) is a massive problem for the govt. They can't reduce HDB prices back to for example levels in the late 1980s where a new 5-Rm HDB cost only $120K. For those of us who purchased HDB flats from 1990s onwards will not likely support this initiative.

So the CPF issue is a big problem which will not go away easily representing the greatest challenge facing the government for years to come.

Utter rubbish for 2............how do you define old age? The MS is locked up till 62, 65 or 67, and then mandatory to sign up CPF Life. As for those who are borned in 1950, 1960, 1970, 1980, the average life expectancy is from 60 till 70 years old. So, from 55 till 62, 65 or 67, there is 7 to 12 years whereby the MS is fully locked up, as CPF Life payouts kicks in at 63, 65 or 67 (nobody really knows the exact, as it keeps delaying).......and this is applicable only for those born in the 1950, 1960.......if one is born in 1990 onwards, by the time you reach 55, this will definitely have changed again to lock up your CPF further. So, what rubbish! This is a moving target and looks to me like a freaking big scam and broken promise to return our CPF in full plus interest at age 55.

 

[ChaoPappyPoodle]

But that is six issues, not one.

You TWIT! The issue is too much noise leading or a lack of direction and focus. The six points I brought forth are what we should be focusing on.

Arguing about the Minimum Sum is a stupid argument as it means we accept everything else related to CPF.

 

[ChaoPappyPoodle]

No one asked you to buy the HDB pigeon hole lah.

Keep harping the same old tune.

Got the capability and ability..

GO buy private housing lah!

Cannot?

Why?

Becos you are a loser in life?LoL

You pathetic low class, low life scum of Singapore, 80% of Singaporeans live in HDB flats. Your useless masters live off the honest livings of Singaporeans and you are there to lick off the scraps which includes pieces of shit and scum left by your masters.