My position, no change

After hearing the full debate in the internet and Parliament, I am more convinced that there is no need for any drastic change to the present CPF system. The proposed changes are so flawed that the word flaw has taken the status of taboo. No one dares to say that the whole concept is flawed. It is flawed in principle and violated many rights of the people to their money. It starts on the premise that the govt has all the rights to legislate away the peoples money in whatever way it so decides on the ground that it is good for the people. It touches on a very sensitive part of the people's interest. $20k, $30k or $120k, that number may be small to many people, but it is the life long savings, the fortunes of the poor redbeans. There are many redbeans in this little red dot that never see such money in their lives. And they will be furious to think that anyone can just keep distancing them from their little fortunes. The pain, anger and frustration cannot be underestimated, no matter what reasons are being put forth. There are many other reasons and reservations and flawed premises that have been pointed out and became obvious over the last few days and no need to elaborate further here. Here are the few reasons why there is no need to change the current system. Grunt has rightly explained how several billion dollars could be set aside for the old and needy. Mind you, the number that is above 80 is small. And the number of old and needy will be even smaller. If the govt can cough out so many billions to support a flawed scheme, why not use the same money to set up a fund for the needy oldies, a simpler and no farce system? And with the push to extend retirement age to as old as possible, the need for a hefty retirement savings is much lesser. If a person is to work to 70 and die at 70, he does not need any savings. Not a cent! And lets not brush aside and refuse to see the elephant in the classroom. Most Singaporeans are not desperately poor. Many are asset rich and with the HDB lease back scheme, or even without, they can rent out their 3 rm flats to earn an income. And many have alternative support for their old age. The current problem faced by the aged is of a lost generation. It will come to past. The number of helpless cases will not be as bad as today. An old couple, even jobless, cannot die of poverty or live below the poverty line if they have an asset in the form of a 3 rm flat. And many Singaporeans will have more. Unless our flat ownership scheme has failed. Unless our education system has failed. Unless our CPF scheme has failed. I say it loudly here, there is an elephant in the classroom. Please look at the elephant and don't turn your head the other way.


Anonymous said...

A little red bean trying to tackle an elephant?

redbean said...

no lah. redbean cannot do that. but if the elephant takes too many redbeans, you know what?

Anonymous said...

Should PAP dare to make this crap, shit or unwarranted policy compulsory to the people, I will not be surprised voters will wake up and throw PAP out of the window in the next GE should opposition parties decide to contest all wards.

redbean said...

i truly sympathise with those poor buggers who have no voice and no channel to air their frustration and grievances. and their fortunes, the money they made in their whole life, that paltry sum of $20k, is like a carrot hanging at the end of a pole in front of the donkey cart. there but unreachable.

it is a terribly wicked thing to do to these pathetic and humble souls in the name of paternalism.

you wicked people, please take note.

Anonymous said...

How many
red beans
does it take
to cause
an elephant
to be bloated
and fart
nd lao sai?

Definitely not this one (in this blog) heheh..

James Chia said...

I agree with NMP Siew's suggestion to debate on the rights of all CPF members. We can't possibly be allowing the govt to increase the minimum sum forever without proper guidelines.

redbean said...

fully in favour. this must be discussed in parliament once and for all. otherwise there is no stopping in the future for any govt to legislate $500k to be set aside from the CPF members account and claim that it is for their own good.

there is a limit to legislation when the rights of the people are violated. it will be a good test on what our system of govt is all about.

someone can put up a petition for this motion.

Anonymous said...

>someone can put up a petition for this motion.

why not let that someone be YOU, red bean babe?
That can lend hell lot more weight behind your incessant rantings here. ;-(

Anonymous said...

at the end of the day..look at the pre-dominant ever shrinking family-trees in singapore where birth-rates are declining, & population tremendously expanded by FTs. In time to come many CPF-owners with no off-springs, no children, no immediate relatives will result in the gahmen being the ultimate beneficiary of their estates.

and also warren buffet's 4th law of motion says that when there is more motion, investors/owners' return will decline due to frictional costs from the ever-more inter-processes/policies/so-called helpers through restructuring of CPF systems.

redbean said...

so far everyone is keeping mum about the malignant growth of the bureaucracy, physically, financially and intrusively.

there is an elephant in the classroom!

George said...


ever consider that its a red herring by the govt to hide other issues? Like recouping losses by Temasek and GIC in their investment fiascoes?

As always, the govt treats Singaporeans like the proverbial money tree in Chinese saying (yao qian shu).

Matilah_Singapura said...

> so far everyone is keeping mum about the malignant growth of the bureaucracy, physically, financially and intrusively.


I've been screaming about that for years. But cry-baby assholes like you and the rest of the "ENTITLEMENT MENTALITY" fraternity always whine and moan:

"Oh great and almighty government, please help me, and my kin and every other sorry-assed loser on the planet... oh please I beg you....I'll vote you in, I'll accept your pay rise.. just help me please...."

...and that's how the govt grows in size and power, and gains "valid" reasons to tax and regulate our lives even more.

You folks are a fucking embarrassment to humanity! It's not the fault of the govt, assholes.

It's •==>>> YOU <<<===•

redbean said...

hi george,
welcome to the blog. we proclaimed ourselves as the city of possibilities. everything is possible.

but this cpf thing is more real than anything. we must look at the end result of what the proposed scheme will achieve to know the intention. the public announced objectives are only a pr exercise.a distraction. what is the tooth?

the tooth is that money will not be paid out and delay further. the tooth is that money will be accumulated for another 20 or 30 years. the tooth is that many will die before touching their money. and there are many more tooths.

redbean said...

dear matilah,

when i said everyone is keeping mum, i mean the establishment, the people who are benefitting and laughing all the way to the banks.

not you, not the beans. beans at best can be jumping beans.

how many MDs and CEOs does an organisation need? How many ministers does a ministry need? etc etc