CPF - If they spend all their savings then how?

Heard Chuan Jin using this same argument again at the CPF forum. So? Is this an acceptable reason for the govt to hold back the people’s life savings? Many people would not have enough savings in their CPF anyway. This is a normal scenario in all countries. But very few would be so desperate to need govt handouts. So?

Whether people spent away their life savings prematurely, many would not have anything left or enough to feed themselves past 70 anyway, is a different problem and a different matter. Many would have other means and sources of income to keep them going. And for those who don’t have any money left, not necessary squandering their CPF savings away, as they just did not have the means to save enough, not clever enough to earn millions, what is the govt going to do about them?

Just because some people have some savings in their CPF, does it mean that the govt can grab hold of this money on the excuse or pretext that they would spend them and would have nothing in old age? How many have the good fortune to have enough savings to last through their lives?

What is the govt going to do with people that have no savings and still need to live on? These are stupid people, irresponsible people, they deserve to starve to death? Smart people and responsible people may also end up in such a situation through a stroke of bad luck or misfortune.

It is not a reason or a good reason for the govt to hold on to the people’s money in the CPF on the ground that they people would spend them and left with nothing. Many would spend them, for the right or wrong reasons. So? Is this a justifiable reason, morally and ethical reason to hijack the people’s savings, all the people’s savings, because a few may need help? Even God would not have the audacity or arrogance to make such a decision, to take the people’s money away from them.

Life is not so simple as one would expect it. Save, save a lot, be thrifty, be responsible and you will be alright. Some of the super talents and millionaire ministers may end up bankrupt and needing govt assistance one day.

What is the problem with the govt’s justification to withhold the people’s life savings, to manage it at its own discretion, without needing the consent of the people, the owners of the money?

What is the govt going to tell those who would not live past 65 or 70 and did not have the chance to spend their life savings to live a few good days or a few good years. There will be more who would not benefit from their life savings due to premature death than the few who would need govt assistance.

Please tell the people it is your right as a democratically elected govt to do such a thing.

Kopi Level - Red. Where is everyone?


Anonymous said...

fuck the PAP

fuck hsien loong n familee

fuck the running dogs n bitches of papigs

fuck those cocks sucking americunt running dogs

fuck the jews ... why did Adolf Hitler failed in his honourable task?

Anonymous said...

It is a stupid argument. Is there a difference between a person who has no money at 55 and have to wait 10 years to get an annuity payout of a miserable sum versus one who gets his CPF at 55 and spends it all away by 60.

Well in the first scenario, the person is face with the following problems.
1. How to survive from age 55?
2. So will I still be alive at 65?
3. Can I survive with the annuity payout at 65?

Both will not be in a good situation if he has no job (income) but at least in the second scenario, at least he has an income for the next 5 years.
So, who is better of?

The real reason for holding back our CPF is that the PAP wants our CPF to act like a perpetual bond with the interest (coupon) to be reinvested until 65 and the option to buy back the bond only upon death.

If the Australia (AAA rated) were to sell such a bond to the PAP, would they buy it? If not, why should Singaporean support the CPF?

Anonymous said...

CPF - if we spend all our savings then how?
It's none of PAP's business.

At age 55 years old, our money has done enough national service already.
Time to ROD our money.

Anonymous said...

Whatever the PAP reason or argument lah,

most important (for PAP lah) is that at least 60% is still willing to vote PAP,

despite some of the 60%, like RB, do not agree with the PAP reason and argument.

Of course this is on condition that Teochew Ah Hia or Hainan Ah Ko's respective parties are not ready to be govt.

Anonymous said...

PAP - if LHL and PAP are just a bunch of incompetent clowns then how?
We better start voting Opposition parties.

The Singapore bird is flying with only one over-sized PAP wing.
Better start growing another wing so that we can have a more balanced flight.

Anonymous said...

Better start growing another wing so that we can have a more balanced flight.
Anon 11:00 am

With only best leaders (so far) like Hainan Ah Ko and Teochew Ah Hia, can grow or not?

Or assuming 60% Sinkies give them the chance, but instead of growing stronger, they fight each other then how?

agongkia said...

RB eberytine same old long story again and again until I oso become blur after reading.
Use simple language.
Just say how CPF can help you if they release at age 55.
eg.No 1 .I owe Ah Long and bank 100K.If I take out at 100K @ 55 I can pay back 100 K to Ah Long and Bank and solve my problem.No more loan and interest no longer snowball.I will be free from debt whereas if I dun collect CPF at 55 I will be a slave forever or maybe landed in Bedok Reservoir.The interest I earn in CPF is lesser than the interest I have to pay to bank.
No 2.At age 55 ,this one important.I am still fit and want to produce more children and son to continue with my surname and send me off during my grand day and oso can face my ancestors..
If I collect CPF @ 55,I can continue to produce more children ,Batam or Taiwan,why you care,with no worry about milk powder.
If I get my CPF late ,that mean I cannot fulfill my wish to have more children becos likely at age 60 or 65 I may suffer from erectile dysfunction where sperm become water leow.
With more children as my assets,they will take care of me when I am old which is better than having monthly payout.
So this 2 reason is good enough.
Please give good reason why can't you let me clear my debt @ 55 or produce many children ,instead of asking how if I spent all my saving.

Anonymous said...

The fact that Hainan Ah Ko forms a new party shows that he does not want to accept Teochew Ah Hia and others as leaders.

Or it can mean that Teochew Ah Hia or others does not want to accept Hainan Ah Ko as his follower, even if Ah Ko wanted to. So Ah Ko has no choice but to form his new party lah.

But whatever lah, this will not be good for 60% to count on Ah Hia and Ah Ko to be the better alternative, because Ah Hia and Ah Ko may fight each other to become PM if 60% give them the chance.

Anonymous said...

How come Hainan Ah Ko only got 25% votes island wide in PE 2011?

And some more PE 2011 had nothing to do with ready to be govt or Teochew Ah Hia what.

So can Hainan Ah Ko party win more than 25% votes next GE, despite fighting for Sinkie first?

Or instead of Sinkie first, it become PAP first (most number of votes) and also make Teochew Ah Hia party lose as well?

Anonymous said...

"With only best leaders (so far) like Hainan Ah Ko and Teochew Ah Hia, can grow or not?"
July 27, 2014 11:09 am

Why cannot grow?
LKY was crying like a baby in 1965 when he became Prime Minister.
With that type of standard, PAP also can grow.

Anonymous said...

"Or assuming 60% Sinkies give them the chance, but instead of growing stronger, they fight each other then how?"
July 27, 2014 11:09 am

What's your point?

In 1961, LKY had a fight with Dr Lee Siew Choh and Lim Chin Siong. LKY then kicked the 2 men out of PAP.
PAP got die or not?
LKY got die or not?

Anonymous said...

Anon 12:40 pm, u have a point.

So I hope 60% give opposition a chance next GE.

Although initially, just like PAP in 1961, there may be fighting among the opposition on who to become PM but finally the opposition will become strong, just like it happened to PAP and LKY later.

And perhaps the cycle repeats, after another 50 years.

So 60%, have no fear. Vote PAP out!

Anonymous said...

Why are you spamming RB's blog? Are you another ass IB?

Anonymous said...

A better way of doing it is to credit every singaporean who are not able to have sufficient minimum sum, a lumpsum, which will become their cpf life annuity...

Anonymous said...

Take people's money don't return and talk bird talk.

Anonymous said...

People talk about CPF you all talk about Hylam ah Kor and Teochew Ah Hia.You all should be more concern about poor Sinkie like me.

Anonymous said...

Why are Singaporeans so like that? Everyday talk about our CPF money? Why not talk about our money in the reserve? Do you know other countries have free state pension? We should demand a free state pension also. Do you know MAS alone make $15 billion this year? How much state pension can this give? Do you GIC (if CPF money is really there) reap $8 billion every year from CPF money? How much state pension can that provide? Why are Singaporeans so shy of asking for their money in the reserve? Who are keeping the reserve for?

Chua Chin Leng aka redbean said...

Hi, the one who kept posting about hylam ah kor and teochew ah hia. I am not sure of your intent. I have received several complaints that you are spamming here. Hope you don't keep repeating the same messages or I will take it as spamming and will delete them.

Thanks for your cooperation. Kopi for you.

Matilah_Singapura said...

This "nanny state" thnking as got to go,

Individual freedom is the right for you to make mistakes and accept the consequences...

...and the right to make the correct decisions and reap the rewards.

FUCK THE GOVERNMENT!, although the Sheeple deserve the government they get.

Anonymous said...

"Hi, the one who kept posting about hylam ah kor and teochew ah hia. I am not sure of your intent."
RB 2:35 pm

Because hylam ah kor and teochew ah hia are the better opposition leaders who dare to fight PAP in election mah.

So they are the hope (or no hope) for Sinkies lah, tio bo? Hope for everything, including CPF lah, if they can become PM.

It could have been RB too, if RB is an opposition party leader. Nothing personal about it.

Anonymous said...

Very touch that our Rulers, like the Soldier Boy Thinker Tan Chuan Jin, are concerned about our finances.

Frankly, me am also very worry of Another Alternative Party forming the Next Regime. Many if not most Sinkies are suspecting and worrying that CPF may not have enough money to payout all the 55 Year Olds. And if this is so, the Next Party to take over will inherit shits, no pun intended.


The Tweaks to the CPF to date have created much problem to its members. The linking of CPF to Medisave, Medisave, Medifund, Medishield and NOW Medishield Life, is too complex even for professionals to understand. How on Earth can lay Sinkies ever grasp it???


Anonymous said...

@ July 27, 2014 2:25 pm
This guy has a good point.

The other point is government surplus every year.
A government surplus means that the PAP govt has over-collected tax money from Singaporeans.

Just like a Town Council surplus means the PAP town council has over-collected money.
We have been made to overpay the costs of running the PAP GRC.
i.e. we have been overcharged.

Why Sinkies never think?
I don't understand.
LKY was correct.
We are daft.

Anonymous said...

And a little personal impressions of a lay Sinkie here. The Point made by the Soldier Boy about folks squandering away money after receiving payout of CPF at 55 year old. It sounds so boyish! A squanderer will squander long before collecting his/her CPF.
Moreover, those with savings in CPF are likely parents with grown up children. Majority of them are actually helping their children financially and if not, assetly. Children stay in the Parents House, driving the Family car and the Other Way is just as common, children providing for their parents and driving them when need so.

So, here, we can see a young soldier made Ruler trying to argue his way with flimsy reason to withhold the Citizens' Money.

Matilah Singapura says it bestest in his Comment in this Thread. Fuck the Rulers.


Anonymous said...

July 27, 2014 3:41 pm

If Town council surplus means we have been over-paying for our Town Council costs and services

Anonymous said...

RB, put it this way, even if u are billionaire, they still hold your cpf in case you spend the money on mei mei cause you can not be trusted as u may go bankrupt one day then how? Tio Bo so must plan for contingency so die die must keep the cpf money mah

b said...

When some people have ideas on your savings, we all know they are not good people. Pray very hard that we will get to enjoy our cpf, if any, during retirement.

Anonymous said...

....even if u are billionaire, they still hold your cpf in case you spend the money on mei mei cause you can not be trusted as u may go bankrupt one day then how?"
Anon 6:07 pm

Please lah, billionaire or ordinary Sinkie, CPF rules must apply equally mah, tio bo?

Even though billionaire spend money on mei mei is much less likely to go bankrupt than ordinary Sinkies.

Anonymous said...

Vote out PAP.
Time to change the CPF rules.

Anonymous said...

What is the purpose of the rules? To keep your money?

Anonymous said...

Is the PAP government competent enough to trust with our CPF money?

Anonymous said...

The CPF functions almost like a bank in some instances.

What happens when trust is lost in a bank?
Answer: You get a bank run.


Anonymous said...

When Rulers simply refuse to be reasonable with the People, there is NO NEED to respect them. For them to just wantonly bully, cower and oppress the People, they do not deserve to be leaders.


Anonymous said...

what if you are 60 and come down with a serious ailment. doctors say, at best, you have 12 months to live. there is nothing they can do to help you.

if such a person were to ask for his cpf money to have a last hurrah, should he not be given it? ALL of it? should he not be allowed to use his medisave Fully for whatever treatment/medication that will make his last weeks easier and painfree? spend it on the best care he can get?

what reason would there be for withholding it? on what grounds should he be forced to keep to all the rules/conditions/limits of using the money? why should he be forced to leave it to family?

Anonymous said...

"why should he be forced to leave it to family?"
Anon 5:46 am


Then why should 60% still want to vote for PAP?

Anonymous said...

U cheese by....

So many solutions

Commit sucide

Go directly to jail

Fuck hsien loong n familee

Go to IMH... this place look like cuntry resort

Go n work as lao kuay. Old Chicken beri potent

Lagi best. Sleep @ istana park

Anonymous said...

The joke is that should the doctor prescribe a medicine or treatment that could save the patient but would use up all his Medisave savings, the system says, no, you can take only a small percentage of it now, and leave the rest for the future.

And this will apply even to a deadly or terminal disease.

Anonymous said...

/// And this will apply even to a deadly or terminal disease. ///

I wonder if LKY has used up all his Medisave?
How does he manage his medical cost?

Anonymous said...

He had a choice to withdraw his full pension in one lump sum.

Anonymous said...

My question remains:

I wonder if LKY has used up all his Medisave?
How does he manage his medical cost?

Anonymous said...

"How does he manage his medical cost?"
Anon 10:14 am

Cash, I suppose. I am sure he is not short of that.

Or maybe, because of his very special status, he is under some special medical scheme which is not available to 99.99% of Sinkies?

Anonymous said...

Isn't it more logical for LKY to use up his Medisave account money first ... instead of paying cash?

Wonder if he is using "A" class ward or "C" class ward (to save money)?

Anonymous said...

How is economy develop and grow today?
Me thinks all uses a simple formula and that is destroy and rebuild, to generate revenue and profit. Regimes and businesses from builders to undertakers do not just wishes for calamity and disaster, they make them happen.
The USA creates wars and conflicts to sell war wares on top of natural disasters. Similarly, businesses are enjoying rebuilding Fukushima.
In Sin, it is demolish and renew and rebuild. Vehicles worthiness are valid for 10 years regardless of condition. SERS and En-block, demolition s of schools and other infrastructures that can last another century or more to build new ones.

Sinkies are happy with such developments and in fact get much satisfaction. They get screw and enjoy the orgasm, BUT weep and curse whence left to carry the baby alone and or whence left to shoulder the consequences.

Rulers are as ruthless and greedy as business folks and are always in cahoot to exploit consumers and citizens. Except for few benign regimes, the World is suffering from sinful deeds of elite and tyrant.
For Sinkies, the good old days are over as the greedy leaders are left with only one way to enrich themselves. AND THAT IS TO EXPLOIT THE PEOPLE AND THE STATE TO THEIR LIMITS.