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6/21/2006

good news, cpf refund!

Good news for 950,000 HPS members who are paying to protect their HDB flats. The CPF Board will return $480 million of surplus to them and the premiums will be reduced by 10 to 35%. I am wondering how long it takes to accumulate such a huge surplus. And I am also wondering when they found out that the premium is excessive high. And I am wondering whether all the provisions in minimum sum and Medisave are excessively high as well. Maybe 30 years down the road they will have several billions of surpluses to return to the aged CPF members. Unfortunately they might not be around to hear the good news.

3 comments:

Anonymous said...

CPF is your own money, what. How to return something that was always yours to begin with. HPS is different because it is money that was paid out by CPF members. So, it is right to say the surplus is returned to them.

redbean said...

lucky cpf is not privatised. else the surplus with go to fat bonuses for management

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