5/06/2014

CPF crossing the red line

The govt seems to be very comfortable with all the changes introduced to hold back the people’s life savings in the CPF. I must admire the govt’s confidence that the people will go along, albeit some kpkb, but nothing will happen. And it is all up to the govt and the CPF account holders are just hapless daft Sinkies that cannot do anything to protect their life savings. I am not going to say how far more or what else would break the camel’s back. In m view the back has been broken and now it is a matter of how the people will react to this violation of their life savings.
 

All the excuses and forced reasons to keep the people’s savings have not gone down well with the people. The majority does not believe any tiny wee bit of what was thought as good and logical reasons. No way. Even if the people are daft, they will not be so daft as to have their life savings snatched from their hands when they badly needed them. Does the govt really feel so confident that everything is fine?
 

The first red line that was crossed was the change in withdrawal date. The others were the Medisave Account, the Minimum Sum Accounts, the Retirement Accounts, Special Account and the latest, the Medishield Life. It was full withdrawal in cash at 55 with none of the abovementioned. The incremental changes introduced over the years have practically changed the CPF into something else. The CPF is the people’s savings, not a Charity to the govt, not a Pension Fund of the govt. How audacious for anyone to think he can meddle with it like it is his own money or his grandfather’s money?
 

How could the govt think that it can do all these things and get away with it? The number of oldies affected by these changes will grow daily. And so will be the anger. No? The people have no choice. We the govt will decide what to do with the people’s life savings. We will decide how to make use of the people’s life savings, like it or not, like compulsory payment to CPF Life and Medishield Life. We will change the rules whenever we, the govt, find it prudent and necessary to do so, according to what we think should be done. Your money?
 

The govt can think that way, can do as it likes. The people, the owners of their life savings would also be thinking how to get their money back. And if voting out the govt is what it takes to get back their money, they will do so. Don’t count on it that the people are hapless and daft and will willingly allow the govt to hold their life savings for as long as it wants and to do as it pleases. The govt has breached the trust of the people by not returning the money to the people at 55. Now it is so hazy as to how much and when would the people be able to get their money back in full.
 

When would be Judgement Day?

Kopi Level - Green

9 comments:

Anonymous said...

from Leong Sze Hian's blog

Make sure you use the right CPF Nomination Form,
or your CPF goes to nominees’ CPF!

http://leongszehian.com/?p=8740

Anonymous said...

"And if voting out the govt is what it takes to get back their money, they will do so."
RB

Hahahahahaha.

If they will do so, they would have did it in 2011 already!

Not only did they not do so, they even gave PAP a respectable 60% vote which in turn, through the GRC system, a solid 93% seats in Parliament! And mainly because the opposition is not ready to be govt.

So assuming the opposition is still not ready, why would the outcome be any different next election, u tell me lah?

Anonymous said...

Tiok.

If PAP or Sinkies had wanted to do anything or make things happen, they would have already done it and make it happen in 2011. No need to wait for 2015/2016.

Hold back Sinkie CPF savings? It had already happened in 2011. And will it continue to happen?

Opposition ready to be govt? Did it happened in 2011? Will it happened in 2015/2016?

Anonymous said...

@ May 06, 2014 8:50 am

Make sure you vote Opposition on the voting slip or you may never see your CPF money ever again.
use the right CPF Nomination Form,
or your CPF goes to nominees’ CPF!

Matilah_Singapura said...

@RB:

>> All the excuses and forced reasons to keep the people’s savings have not gone down well with the people.

Too fucking bad lah, eat shit and cry...because guess what: the worst is yet to come.

"Democracy is a pathetic belief in the collective wisdom of individual ignorance." H L Mencken

Meaning that if you are a blur-cock sheep, grouping together -- i.e. "united as one" -- with other blur cock sheep isn't going to improve things -- it'll just make things WORSE.

If you are not a blur cock sheep, getting together with the blur cock sheep of the cuntry is just simply FUCKING DUMB.

Anonymous said...

Ask mateelah whether is he the one who spend all his cpf withdrawal on those hot pinays and give garmen a chance to hold back our cpf:-)

Matilah_Singapura said...

@1113:

I wish. Luckily, I still earn a small-time living.

Fortunately, I used the max of my cpf long ago to buy property -- long before these fuckers changed the law. Anyway, to me cpf is a TAX. Once you pay, forget about it lah. If you really want the lot -- because you still have the silly belief that the money is "yours", emigrate and give up your citizenship, and you'll get every penny.

b said...

Everywhere the gov in this world is holding on to people pension or provident fund by changing the rules of the fund. The gov has become the number one enemy and bully of the people. It is a very disturbing phenomenon. That may force many people becoming terrorists one day.

Anonymous said...

Think twice! Or thrice! They can't even manage a Town Council fund properly! You want them to manage your "life-money"??