Silly me, why am I asking such a simple question? You need to build up a savings to buy affordable HDB flat mah. Tiok boh? Like that also dunno. You also need to have some money for retirement right? Tiok. And you need money to pay for big and affordable medical bills when you are old lah. So simple and I have to ask. And there are other things to pay for with the CPF savings, like Medisave Insurance, CPF Life, university fees for yourself or your children and more minimum sums to top up. I think got some more. But just stop here first. Too many very confusing and can easily forget if got dementia.
How many people need to buy HDB flats at 60 years old? Kee chiu.
How many people need to have retirement savings when he is going to work till he dies when there is no retirement?
How many people need medical insurance or a huge sum in minimum sum if he is going to work till he dies when the company will have corporate insurance schemes to cover them?
How many people will have no dependents, or children to look after them, no private medical insurance, no savings and die die must depend on their CPF savings to survive?
How many people want to spend $100k or $500k for major ops at 70 or 80 or 90?
I have checked the historical records and I think the position has changed for many people. Last time happy to retire at 55 and die at 60. Last time life expectation very short but now very long. Last time married one time, now can marry a second time at 60. Last time bought HDB flat at 30 to get married. Now must buy HDB flat at 60 or 70 to get married one more time. Last time went to hospital and pay $2000 a lot of money. Now serious illness $200k also nothing except for open heart surgery. This one exception, only $8. Last time old already at 60 and die never mind. Now 90 years old also don’t want to die and want to go for major operations to live another 100 years.
Last time… now where am I? Oh, the position has changed. So you see, the position has changed. So what? Position changed because things changed lah. Changing position is a crime or what? Cannot change position huh? Last time two child enough third child punishment. Now the more the better, got incentive to have more some more. So, position not change huh? Crime or no crime? Malu or not malu when position changed? Must explain or not? So embarrassing leh, changing position never explains, and changed quietly and think people dunno.
If one is to work till death do us part, still need to save for afterlife meh? How many people want to be a rich dead man? By the way, how many people age 80 or 90 will be left that needs to be taken care of by the govt using public money? Can the govt afford or not? Wait wait, all these oldies must have contributed a lot of CPF to subsidise the govt in one way or another and what did they get in return? 2.5% and 4% interests? That’s all? How many hundred billions were parked in the CPF by the people for so little returns? Can the govt put aside some of these money or profits from the cheap loan to provide a life line for the 80s and 90s when they are penniless? Is it asking too much when these people have contributed a life time to the CPF for the govt to use?
And not that everyone will live till 80 or 90. And not that everyone who lives till 80 or 90 needs charity. Some may mismanage their lives, some may be hit by accidents or misfortunes or the cruel turns in life. Can the govt repay some kindness and charity for the CPF savings that these people have lent to the govt in their younger days and stop forcing these people to continue to contribute to their CPF after 60, and holding a huge ransom in the name of Minimum sums in the Retirement and Medisave Accounts? Why can’t the govt show some gratitude, some compassion and some sense of justice and fairness to look after those in the 80s and 90s using the money made from these people’s CPF savings over a life time? This is only right and not charity as the govt had benefited from the people’s savings of a life time. Or the govt is thinking that the money in the CPF is what the people owed to the govt and there is no need to be grateful or to repay the people for the cheap and unconditional loan? Where is gratitude?