CPF – All talks lead to Rome

So many ministers have spoken about the CPF. They appeared to be saying different things. On close analysis, they all points to one direction, they are not going to return your CPF at 55 or 65 in one lump sum, or a meaningful sum. And what do these mean? Why are they so adamant to hold back your CPF despite the public expression of anger? For your own good? Or is it something else? The govt seems to be taking a stance of defiance, ears plugged and not wanting to listen to the angry voices of hte people. Kenneth Jeyaretnam has a long list of reasons why.

Look at all the schemes and changes to the CPF, and the answer is crystal clear. The minimum sums, the Medisave and Retirement accounts, the CPF Life and now the Medishield Life, what did they say? Be prepared for something like CPF AfterLife to complete the cycle of cradle to grave.

CPF is your money, so they said. So he’s a jolly good fellow, so he’s a jolly good fellow, so he’s a jolly good fellow, so say all of us.

It may be a difficult thing to determine who needs to leave their money in the CPf Board as they are weak in mind and ability to hold on to their money. But it is not difficult to pick up those who don’t need to leave any money in the CPF after 55. By this age the game of life is almost over and what a person is made of is fairly clear to see. Before we tread into this dangerous doctrine, that the govt can withhold a citizen’s money on the ground that the citizen is deemed stupid and irresponsible, the people must make it known to the govt that this kind of thinking and logic is flawed, unacceptable and a violation of an individual’s right.

All the rich and super rich, including those with landed properties worth more than a million do not need the CPF to hold on to their money. All those who have filial children supporting them do not need to leave money in the CPF. All those who are still working in self employed professions and likely to work till they die or willingly call it quits, no need the CPF. All those who never or would not go to Batam and Bintan are safe with their money. All those who are dying do not need the CPF’s caring hands.

Really, it is only a very small group of people that need to depend on the protection of kind, very kind and caring people in the govt to help them to look after their money passed 55. Even if they choose to let the govt manage their money, it must be voluntarily, not because the govt declared that they are incapable of looking after their money, not because the govt forecast that they would live to 100 years old. No where in the world can a govt hold on to the people’s money at will and at its own pleasure, against the will of the owners of the money.

Kopi Level - Yellow


Anonymous said...

I suspect the GIC has no cash. They invested in "foreign assets" that have no ready buyer. A forced sale to pay back our CPF may mean a 50% loss. Since there is no transparency, suspicions are everywhere.

Anonymous said...

So much talk about living to the 80s, but what I see around me - among relatives and friends - is that most who passed away are mostly in their 60s.

And one thing about the eldershield thing is that none of them will even qualify for eldershield payments right up to the end. That condition about not being able to do three basic things before death is a scam by insureres to prevent anyone from claiming.

When a person reaches the stage where he or she cannot even do the three basic things, death is just a step away. Even then they needed a doctor from the insurar to certify and then wait for one full month before being eligible for payment is another sham that the scheme is formulated to reap people off. Very few people will live long after that to make any meaningful purpose of the scheme.

Anonymous said...

What happen if the opposition is voted in as govt, and then they declare there is no more money in the CPF, then how? And they can say not their fault what.

That's even worse than PAP holding back Sinkie CPF money, tio bo?

At least PAP don't declare that there is no money in the CPF.

That's why 60% want to vote PAP. Because they very scared to hear bad news announced by a newly elected opposition govt.

Anonymous said...

Which is more dangerous?

When it is empty, just tell the truth.


When it is empty but pretend it is full and keep lying that it is not empty?

b said...

"No where in the world can a govt hold on to the people’s money at will and at its own pleasure, against the will of the owners of the money."

So long as they have the mandate, they can. Even if only 20% people voted them, they can have the mandate if they play the game correctly. Who says democracy is a better system?

Anonymous said...

Let's vote out PAP and find out the truth.
We are asking our children to do National Service.
What if there is nothing valuable to protect?

Fight for what?
Fight for the survival of PAP to put spurs on our side?
Fight for the HDB flats that we do not own?

Anonymous said...

RB is always stirring trouble and doing his scare mongering talks on CPF. Government is paying good interest on CPF deposit. Why do you need to take out your money? Just deposit your CPF with the government and earn good interest rates. Where else can you get better rates?

So Mr RB, stop you silly talks and be thankful you will be looked after.

I guess you must have benefitted from the PAP rule over the ;ast 40 - 50 years. You personally must have done well and also your family and children must have reaped the rewards of the PAP rule. Please tell us, how many properties do you own in Singapore? Are you in landed property and how many apartments do you own for rental income? Tell us and then we can judge if you are speaking with the double standard tongue.

Anonymous said...

With CPF money in hand, it can tie you through the unemployment period, you do not have to sell your dignity to those callous, blood sucker, FT favour, biased employer and employment agencies; and to those "KIND Hearted" greedy organizations willingly con you to be retrained to supress your salary - over night you can find yourself downgraded from a professional to some one worst than an apprentice.

The CPF in your hand is very very importance to you!
What's wrong having your own money in hand?

Anonymous said...


Rb is damn wrong in understanding Sin.

When despots and tyrants rule, they can do anything. Take your money, put you in jail or even make you run for your life.

Anonymous said...

IF HDB owns the HDB flat and the land it sits on.
When we "buy" our HDB flats.
Why do we pay for cost of land+cost of construction?

Anonymous said...

I offer 5% interest to any citizens of PAP who will open up an account with me.
But cannot withdraw the principal until you are 85 years old.

So PAP citizens ... what are you waiting for?