Here is a bit of Johnathan’s article published on 14 Apr.
‘Entrepreneurship is for all, regardless of age (“S’pore to create space for ‘winners’ to emerge: Heng Swee Keat”; April 8, online).
“Colonel” Sanders founded Kentucky Fried Chicken in his 60s, and Mr Ray Kroc established McDonald’s when he was 52. If Singapore focuses only on the youth, then we would lose the opportunity to have senior entrepreneurs like them….
The Government can give a hand to these experienced Singaporeans by allowing them to borrow from their CPF for their ventures, or lend them working capital based on their CPF balance….’
Though Jonathan’s call is valid as many oldies would like a chance to have another go at the challenge of going into a project or venture of their own, be their own boss for once, not the driving taxi type of boss, there is a catch. Once the CPF is mentioned…this is a very sensitive subject. Don’t ever dream of touching it. There is nothing much left after Medishield Life and Medisave Life and the Minimum Sums.
If the seniors were to allow to use their CPF savings and failed again, there is no turning back. But another point, where got money left with everything locked up, all top priority items, spent already or designated and set aside, cannot touch. The CPF owners like Jonathan will have the last right to decide what they can do with their savings. The govt has the first right to decide what they want to do with the people’s CPF life savings and how much it wants to ‘tangkap’ for the good of the people.
Like they said, Jonathan would have to ‘tan ku ku’, if he knows what the govt’s plan on his CPF. That is real entrepreneurship. Making millions pay for something with no right to say no and no effort, no special skills or technology, no rent to pay. And don’t ever think of touching the CPF minimum sum. Not your money anymore.