Punished for being self employed

Many of the oldies are fully retired and living on whatever they have left in their savings, plus whatever they could withdraw from their CPF. Some oldies refused to quit and wanted to continue working. Getting a job is out of question unless you are a super human bean and indispensable. They may even pay you millions to keep you employed, happily. So the less talented and not so super human beans will try to be self employed. Some may sell things in pasar malam, some as agents of this and that, except secret agents, some may try driving taxis. Some may want to start a small biz. What they all wanted to do is to earn a living, post retirement. What they did not bargain for is that by being self employed, they must pay protection money to the CPF in the form of medisave contribution. They don’t care whether you have any other insurance to cover your backside, they don’t care whether you can afford to pay this protection money. They just say you pay if you want to be in business. And they will tell you that it is for your own good. What a ransom against the oldies who are trying to be independent and not drawing down on their little savings. What kind of business cost is this? Bloody shit! It is like being punished for trying to help yourself. And they are trying to help you by taking more money from you. Or are they making things more difficult for the oldies to want to be self reliant? If they sincerely want to help the oldies, self employed oldies should be exempted from contributing to Medisave to reduce their business cost.


Wally Buffet said...


In the first place, if you are an oldie, it's time to hang up your tools and enjoy life. You can't go on working forever you know. Except like you say, if you are an indispensable super bean. So if you don't work, you don't pay. Besides, any work done by an oldie will pay peanuts so it's better to just survive on whatever peanuts we have.

Upon retirement, every day that dawns for an oldie is a bonus. So just relax, enjoy your retirement if you are of such an age and do whatever you wanted to do before but couldn't.

So don't worry about the problems of the young. We have our own problems to worry about. Failing health, loss of libido, dropping or greying hair and most importantly, the clock ticking away.

Anonymous said...

The bullying is as relentless as the cost of livings and the tactics and techniques are from the most crooked minds.

Look at the elderly foodcourt, coffeshop assistants, cleaners, garbage collectors(for recycle items) and security guards everywhere.

Where the hell have the consciences in our parliamentarians gone to? Anyone knows?

These shits parliamentarians need to be skinned in hell.


Anonymous said...

It is as bad as paying protection money to gangsters in the 50's and 60's, if you are a hawker. Not paying the protection money means you cannot earn a living.

Anonymous said...

Many people already figured out what PAP means long ago.

Pay and pay, of course!

More to come.

Anonymous said...

We all know what PAP is doing with our CPF monies... treating it like a cheap source of money and gambling it all away. Best part is this gambling addiction with zero accountability has led to massive losses and made them come up with creative rules and legislative changes to force us peasants to pay up while withholding payment.

Those with even half a brain knows this system which worked well when the British handed over to PAP has become worse than a Ponzi scam, even the Ponzi scammers don't force you to pay up.

Chua Chin Leng aka redbean said...

I believe most Singaporeans know what is happening.

Anonymous said...

'I believe most Singaporeans know what is happening'

And I also believe the Government knows that most Singaporeans know what is happening.

And I also believe the Government knows Singaporeans are hapless to do anything about it.

And I further believe that come next election most Singaporeans or at least 66.66% will still vote for the PAP despite all this.

And that makes the PAP even more daring in finding way to fix the silly Singaporeans for ever, and ever after.


Matilah_Singapura said...

The state has always "punished" individuals who strike out on their own. The state can't wait to relieve these folks of all that wealth and productivity generated in the self-employed/private enterprise's own interest.

Medisave is a bullshit plan. It simply eats into precious capital -- and the less capital you have, the more precious it is. Medisave is nothing more than a TAX levied to support another untenable govt PONZI (Pyramid) Scheme.

Anonymous said...

Medisave is only payable if your income exceeds a certain amount. Of course you may opt to contribute even though you are exempt or if you wish to benefit from the workfare and related schemes.

Chua Chin Leng aka redbean said...

Medisave for self employed is compulsory and there is no age limit to it. As long as you want your license, you pay.

Anonymous said...

For self-employed, medisave contribution is mandatory only if your annual income exceed $6K, so Anon 7.40pm is right to say that only those earning more than a certain amount will have to pay.

On the other hand, for engaging in trade requiring application of a licence, maybe the granting of that licence is conditional upon the payment to medisave. I am not so sure about that.

Chua Chin Leng aka redbean said...

The self employed oldies who earned $6k will have $6k extra to spend and not having to draw on their savings. They should be spared the burden of having to pay more Medisave.

The self employed oldies who earned $60k don't need the extra contribution to Medisave to help themselves. The contribution is as good as paying protection money for their licences.

The oldies no need crippling Medisave contribution to help themselves.

The problem is more of the younger self empployed who need more Medisave. But if their biz is up and down, they will be stretched to pay up when biz is bad.

agongkia said...

Medisave is just one of the many punishment to the self employed .There are many other ways self employed can be punished ,depending on their trade.And these are not necessary the fault of self employed but due to the inefficiency of the different Authority.
Me feel that once one is self employed,one is like putting one leg into the prison.

Chua Chin Leng aka redbean said...

Self employed oldies are generally in a much better physical condition or else they would not be able to continue working. The fact that they could still work and with reasonable income, proves that they are financially more comfortable.

Forcing them to pay protection money in the form of Medisave is like forcing the oldies to buy more life insurance which at that age they don't really need.

It is redundant contribution and often added to their business cost. They are at an age they want to earn and spend whatever they have. They are not going to bring the money into their coffins.

Anonymous said...

The people in Singapore deserve to be punished. Punish for believing too much for too long of their masters.

Anonymous said...

Not all are like that. Some do not believe and they did the right thing during elections, but in the end also dragged into the mud by the other 66%.