CPF’s shifting goal posts

While the govt keeps shifting the goal posts, the daft Sinkies, would you believe it, are resigned to the fate that their CPF savings are as good as gone, a given thing, a fait accompli sanctioned by new regulations!

Everyone enters the CPF scheme at a specific time with a list of accepted and agreed conditions and state regulations. The govt must honour them, or can it suka suka introduce new laws and apply them retrospectively like some unpredictable third world countries? The contractual and legal terms existing must continue to be applicable to the original parties. Any new rules, legislation should only be applicable to subsequent parties coming into the scheme. Failing to do so is unfair and unjust to the affected parties.

Of course the govt has all the power, laws and machinery to do as it pleases. It can introduce anything in Parliament and make them effective with little regards to the interests and feelings of the affected parties. The govt is the law. And this is democracy. The people elect the govt to rule over them and do whatever the govt claims to be good for the people. And the people cannot do anything or blame the govt for it. The people ask for it by voting the govt to be their masters and deserve everything they get from the govt.

Having said that, the human beans, no matter how daft, know that there are things called justice and fairness. What is yours must be yours and not belong to other people. No govt can cheat all the people all the time. Thinking that the people are daft and can be taken for granted will only last for a while and the people will wise up to know what is good or bad for them. A good govt will always have the people behind it. A bad govt will be sent away in due course.

What were the original agreements in the CPF Scheme?
1. It is the people’s savings and the money belongs to the contributors
2. There is a fixed date for complete withdrawal
3. There is a regulated interest rate to be paid
4. There are some rules and guidelines on how the savings can be used.

Changing these rules without the people’s consent is a breach of faith, is it not?. Sure, the people cannot do anything about it except to feel pissed off and pui pui all the time. And they will continue to vote the govt to power, trusting the govt to do good, even changing all the rules regarding their life savings and planning when they can or cannot use them.

And this will not change comes 2016. The people will continue to support the govt as they believe the govt is doing everything that is good for them, except for some who will continue to pui pui. And the people are so happy looking at how their savings are growing day by day. They can also bring their CPF statements with them one day, and rest in peace.

Does the govt really think that it can go on and on messing the people’s savings as it like and the people will continue to vote the govt into power to repeat the story forever?


Anonymous said...

RB, I got to hand it over to you. You simply have a lot of faith in the Sinkies that they will know how to think for themselves. Come 2016 and PAP will still be in power. There are some hardcore daft Sinkies who will never learn. The 2011 election was an enlightenment and a great lesson learnt for me. Despite how the people had been treated the past five years, they repeatedly send PAP back in power. Moreover Potong Pasir was lost. You and the older Sinkies can cry all you want but I'm sorry that your CPF will not go back to you. Never in your lifetime unless you choose to leave the country.

I personally have heard a die-hardcore 20-plus old colleague sharing aloud how good the PAP are to raise minimum withdrawal limit, conceptualise CPF life annuality scheme. She completely accepted the propaganda sprouted by MSM. That's when it all makes sense. Sinkies are hopelessly daft, and kiasi.

Anonymous said...

CPF is the peoples' blood money , it was meant to be a form of savings we can draw out when we retire. Don't let that be washed away by the tricks and traps laid by the unscrupulous people.

Anonymous said...

Vote for Alternative Party and they will Unlock your CPF MONEY!! It is YOUR money, your hard earned money , mind you !

Take all you want come 55 or 60 years old, whatever. You can do whatever you want as you wish, because it is Your money. Go have a good time, spend it on women, wine, buy a nice car, buy a house in Batam, invest in Genting or have a roll at MBS ! If even my idol Yaw can do it, so can I !

Forget about medical, nah, it is too far away. If ever, ever fall sick, choy choy, and really really NO money, we can always seek WP meet people session for help. Remember we elected them ?? SO they owe us this favour, and anyway, govt got so much money, keep for what ?? !! Future generations ? Nah, no need keep so much. For what.

Anonymous said...

Yeah , save all the money in the world for the pigs to spend and lavish on foreigners isit ??? Born to this world naked , leave this world empty handed . So moral of the story is this : Money is for you to spend at your own leisure , dun be a sucker .

Anonymous said...

Yeah, chase away all the foreigners who take over our jobs. Job market is SO bad now, left only jobs like bus driver, mrt train driver, cleaner, waitors, health care, service jobs, low levels and hardwork, pui!!

Anonymous said...

That is why most people buy property with their CPF, use it up fully and pray that they can rent it out for income.....

agongkia said...

Money is not everything in life.
Take it as a tax and you will not feel so uneasy not seeing the money.
I am not interested in their shifting of goal post that you wrote.I am more concern on my ageing towkay who is burden with the changing of contribution rate every now and then.
Pay late got charge,pay wrong can get charge,never use computer to pay also will be charge...How about trusting one to pay his own CPF liability?

Anonymous said...

This CPF money could be a big election issue in GE 2016.

I plan to vote Opposition in GE 2016.
It's will be my feedback to the PAP government that I want my money back (in full) at age 55.

Chua Chin Leng aka redbean said...

They are getting smarter. CPF contribution will go to special account and Medisave at the same time. So even buy properties, a large chunk will be kept away from the savers.

Anonymous said...

Sinkies cannot think for themselves. They are happy with a free $3 dinner box and a free bus ride to that rally.

They don't know that other countries give their old retirees $1000 every month.

Sinkies are happy simple minded folks.

Matilah_Singapura said...

It's not "savings". It is a tax. Paid for and sunk money.

Get over it -- it isn't "your money".

Redbean stop being an ass and raising false hopes in people. That's very cruel of you.

Chua Chin Leng aka redbean said...

The people with all their hard earned money to lose will not give up so easily.

Every 5 years they have a chance to fight for the return of their money.

Langgar said...

Let us not forget that there will be more and more net savvy citizens getting older nearing the retirement age. These citizens are diff from their parents of the ioneer generation. Yes this CPF scheme is a joke! It keeps changing its goal posts and it seems tt they are having this perverted idea of locking away your hard earned CPF from the owners. This will make the citizens bitter and hate the govt! Didn't ex DPM Toh say tt it's not correct to do all these things? This is a miscarriage of justice!

Can this govt keep doing this without any backlash? I doubt so! We will see if it will lead or erode its power?

Chua Chin Leng aka redbean said...

Hi Langgar, welcome to the blog.

The govt can continue to do what it wants as long as the people allow it to be so.

Anonymous said...

CPF belong's to the people of singapore , the citizens.

It is not a TAX , if it is it would have been termed CPT.

It's CPF , anybody who is a literate knows what CPF is.

Anonymous said...

Unlock the CPF! It is our $$$ !

Spend it all up. No need save anymore. You do what you wish !

WP will take care of you ! Free Medical ! Free Air con Transport ! Guarantee job if show pink I/C ! Aircon, high pay, 9 to 5 with 2 hr lunch break!

Singapore kaput never mind!!

Anonymous said...

@ ANON: February 23, 2012 2:38 PM

Singapore already kaput.

Only by Singaporeans rallying around WP, then can save Singapore.

Anonymous said...

Excuse me.
Why would Singapore go kaput if the CPF money is returned to Singaporeans?

CPF money belongs to Singaporeans.

It's not tax money to be used for;
a.investing in foreign bank shares
b.giving free scholarships to ungrateful foreign scholars
c.donating buses to private profitable bus companies

Are you telling me CPF money is being used for the above purposes?

Matilah_Singapura said...

Attention all you dumb motherfuckers

1. Claiming something is not a tax without proving your claim is so fucked-up it should be punishable ;-)

2. If you cannot control something you CLAIM TO "OWN", you definitely don't own it. e.g. if you claim the money in CPF is "yours" but you cannot touch it, or dispose of it according to your wishes, then you DO NOT OWN that money.

Understand, assholes?

3. The "goal posts" have been shifted many, many times and continue to shift. Yet you passive motherfuckers have done nothing.

What makes you certain that come 2016 you are suddenly going GROW A PAIR OF BALLS and act tough...fuck you, all of you lah. Dreaming, wishful thinking motherfuckers!

Forget it lah. Scream and grimace and pain as much as you like. You might even hate my guts -- go ahead. No matter what you do, or think, that CPF money you claim as "yours" is not going to magically appear on your 55th/ 60th birthday.

Awake yet?

Anonymous said...

"the people will wise up to know what is good or bad for them. A good govt will always have the people behind it. A bad govt will be sent away in due course". Unquote.

It ain't going to happen in Sin for another 2 elections, maybe 3.

SINKIES ARE DAFT, not bluffing U !!!!

Only M_S knows Sinkies.

Anonymous said...

You dumbass matilah. If it is a tax it will be called a tax. What more proof you want?

Anonymous said...

There is no way the fact that CPF is our blood savings is going to be changed . NO WAY.

Ask the people of singapoore to vote on this issue.

WHy PAP dun dare to call for this vote ? Because they do not have the people's mandate to keep the money forever.

CPF is our money !! IT is not a Tax.

Matilah_Singapura said...

anon's 925 & 934

I am not going to engage in silly word games with a couple of asshole children, or perhaps adults with children's mentality.

Go and play your kindergarten games somewhere else, and by the way FUCK YOU, you should be ashamed of being Singaporean who can't tell their arse from a hole in the ground, unless they stuck their finger in and sniffed the contents.

I gain nothing from proving myself "right" or from you proving me "wrong".

Let's see how smart you motherfuckers think you are: try and get "your" CPF money out, and then tell me that that money IS REALLY YOURS.

Can you do it?

Balls to you lah!

Kaffein said...

To anon's 925 & 934,
Which crack are you smoking? Perhaps many seniors wanna join you too because you are in serious hallucinations about our CPF monies and where they have gone to.

Whatever money you can't control, 'can't touch it', can't manage it anyway you want to, and can't see the money when the salary slip is handed to you -

It's a bloody TAX!

Oh how naive you are. You have been conned. If it's so good, pray tell me why ministers need pensions? Pray don't wait till you are in old age and then start to regret you have been 'led by the nose' all these years.


Anonymous said...

Must say M_S has it(CPF) well defined even if that comment of his is made whilst he was drunk.

Well done Matilah Singapura!

Anonymous said...

CPF can be ued for house purchase. So how come we can use Tax to pay for mortgage ? hmm ? Matilah or kaffeine ? Any smart anser to this one ? Nahh... didn't think so. Up YOUrS

Matilah_Singapura said...

anon 955:

Like I said you really dumd, low-IQ asshole, I'm not interested in playing your stupid childish word games.

If you want answers about what goodies you can buy with your grand illusion of "savings", ask the people in-charge.

I don't make the laws, you moronic douche-bag. I merely comment.

Understand or not?

Probably not ;-)