What charity or charity from who?
While some quarters of the population are heaving a sigh of relief with the handouts from the govt, one may want to ask what charity and where were the money coming from? From taxation, profits from ministries, stats boards, GLCs? From CPF? Imagine a pool of 2 million workers contributing an average of $500 pm to the CPF, from both employer and employee, this will come to $1b a month or $12b a year!(on a 12 mth basis). And this money is to be kept almost forever, or at least some, till the contributor is dead. Put it another way, it is the people lending money to CPF/govt. After knocking out the interests of 2.5/4%, if there is a profit of 2%, that is $240m annually. Ok, after the recent debacle, there could be negative profits or even losses. But if there is no unduly high risk investment, a 2 or 3% profit over the interest payable to the contributors should not be an issue. The point I am making is that the people is contributing to their own charity just by the CPF contribution alone, not even touching on the revenue of the state which is also the people's money.