12/24/2012

CPF Simply said by ‘First Step’

This blogger posted a very simple but very effective explanation of the state of affair in the CPF scheme and how CPF account holders could kiss their savings good bye. And I quote,

‘First Step:

December 22, 2012 at 5:41 pm (Quote)

First Step – Increase Medisave. Second Step – Increase Medical Fees. Third Step-Increase Medisave Again. Fourth Step - Increase Medical cost again. Fifth Step – the cycle repeats itself, forget about seeing your CPF money again. Can just dream about it. Vote PAP out this Ponggol BE.’

This simplified statement says it all. And it can be duplicated for cost of living. The higher the cost of living the more needs to be kept in the minimum sum account. When cost of living increases, raised minimum sum. Keep raising the cost of living, the minimum sum will keep going higher in sync. It is like throwing money into a bottomless pit, never to be filled, and never to be seen.

Can Sinkies ever save enough for their retirement needs, for their medical fees and retirement? It is no longer how much the Sinkies are saving but how much they would have to pay for the high medical fees that they are expected to pay, like a guillotine knife over their heads. And the rapid and unstoppable high cost of living, starting with properties and car prices, will ensure that the minimum sum will be up and up and up.

Unfortunately daft Sinkies could not see the bigger picture and still clamouring to put more money into the CPF, a black hole.

11 comments:

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Anonymous said...

More PAP-MIW Jokes
+++++++++++++++++++

Q: Why is Michael Palmer a queer PAPig?
A: He like likes girls more than money.

Q: What does a PAPig wife make for lunch?
A: Reservations.

Q: How does a PAPig say "fuck you" in Singapore?
A: "It's for the greater good."

Anonymous said...

>>Unfortunately daft Sinkies could not see the bigger picture...


Thought someone said we've the highest IQ in the world????

agongkia said...

Matilah is sick of repeating and telling the daft that its a tax and not their money.

Anonymous said...

Sinkies are 'dafter' than one old man called them.
It was, is the rising costs that caused and is causing the money not enough problem. Yet the greedy Sinkies were, are still harping on pay not enough.
Sinkies were daft yesteryears, become dafter now and will qualified to be the world' daftest soon.
Sinkies IQ is highest in the world when measure by daftness.

Anonymous said...

More PAP-MIW Jokes
+++++++++++++++++
Q: How do PAPigs celebrate Christmas?
A: By increasing the CPF Medisave Minimum Sum.

Anonymous said...

Your first step and second step is just refering to CPF medisave money being siphoned off by the healthcare operators.

What is going to happen is that when healthcare costs go up, insurance companies will jump on the bandwagon by increasing premiums when claims for hospitalisation goes up in tandem with step one and two.

This is the price we are now paying for 46 years of putting MIW in power. Most Singapore have much to blame. No use crying father crying mother now.

The only way to solve all these problems is to vote opposition, the earlier the better, the more the best.

Anonymous said...

It is not that sinkies cannot see the bigger picture. They know CPF is a black hole, but because of greed they kept voting PAP and do nothing about changing the picture.

Some people are expecting the PAP to throw breadcrumbs before announcing the by-election in Punggol.

If that is the case, by-election is a good thing to have every day.

Chua Chin Leng aka redbean said...

It will be a game changer in the next GE for any political party to pledge that who ever join the CPF scheme will have a set of rules to govern their savings. Any changes in the future will only affect things going forward and not backward. A good govt will not introduce laws that will be applied retrospectively.

A bigger changer will to freeze the minimum sum, have a review and return the excess back to the people. It cannot be a bottomless pit and the money not benefitting the savers.

dotseng said...

Good Morning Chin Leng,

I find the end of act 1 of Hamlet most instructive in understanding the CPF hubris - 'there is something rotten in the state of Denmark..."

Don't you think so Chin Leng.

Let me share with you what I have always believed to truth of the CPF - in my considered opinion it is simply their money to do as they please. That at least to me is how the custodians of power see it. Otherwise by what right can they even dictate terms as to how one can or cannot, should or should not spend that sum of money that was earned through ones sweat and blood?

And since the CPF fund can only be spent on what the ruling party defines as kosher - it is really not so different from those conceited plantation barons who once minted their own currencies which they paid to their workers. And since this monopoly money could only be used to buy provisions in the sundry shops owned by these nefarious merchants of lies - this ensured their workers were always poor and anemic.

What you really have Chin Leng when we speak abt CPF monies is really just the crumbly illusion that you own something.

Chin Leng do you now see how the mere impression of a perfectly crafted illusion can somehow be magically transformed into the 'truth,' in the form of creating a reality?

Happy Christmas

Darkness 2013

P.S: Chin Leng have you read the Muddy Waters report? Be warned it runs a heady 133 pages. Page 56 to 83 is particularly hard going. I took it all in just then. My forearm hurts. Sleep doesn't come easy to me these days - tell me, why would Temasek throw money into a black hole? Do they really believe by doing so they can somehow fashion the illusion that something that has no intrinsic value whatsoever can somehow acquire a patina of worth? Yes, old habits die hard it seems.

Chua Chin Leng aka redbean said...

Hi Darkness. Everything that needs to be said about this city is said by George Yeo when he said everything looks perfect from the outside but it is not real. This comment said many things about what is the truth and the pitfalls waiting to be revealed..

The Muddy Report is thick and I did not have the time to go through it except read some summary. I take a neutral stance on Temasek's involvement and step aside to see the drama unfold. Temasek better come out on top or it will simply bury itself in the shit.

The truth will be out soon.