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5/02/2010

May Day rejoicing

Our CBF workers were rewarded yesterday with a gift that would make them happy for the next 30 or 40 years. The employer will raise their CPF contribution by 1%. Half of this will go to Medisave Account and the other half will go to the Special Account. As these accounts are not to be touched for a very long time, the workers will have a very long time to enjoy that special smile on their faces when they received their CPF monthly statements. For a worker earning $2,000 pm, he would get $20 more monthly in his CPF. This will work out to be $240 pa and $2,400 for every ten years. Adding interest, this will be quite a significant sum to appear in his Medisave and Special Accounts. Now they are celebrating this windfall in the May Day Celebration.

6 comments:

Abao said...

LOL!

Anonymous said...

Sigh....i fear the 5% they'll be taking back after erection :(

The 1% "extra" monies would be good for the Jinx's shopping

Anonymous said...

Me got free 'Zao Boa' delivered to my home today 2nd May 10 on top of the coming 1(one) percent CPF that make me sleepless after a near 14 hours night duty.

It's so sickening to be treated so well on Labour Day.

patriot

Anonymous said...

'...the workers will have a very long time to enjoy that special smile..'

Not when they keep on increasing hospitalisation charges to negate the increase. Back to square one, if that happens. The only smile that I can see are those of the hospitals, with their sharpened knives.

Anonymous said...

Looks like the balance of 5% (if they ever give that back anyway) will go the same way - half to medisave and half to retirement).

They seem to be channeling everything they give into these two accounts nowadays. CPF is really in need of money.

Anonymous said...

A gives money to B. C ended up keeping the money. B can keep on dreaming about his money which he can see but cannot touch.