5/26/2014
Chuan Jin – CPF is your money
It is good that Chuan Jin came out to try to clarify the issues of CPF money and why the Govt is devising all the schemes to help the CPF members. I am wondering how many people buy his logic and explanations and are satisfied by what Chuan Jin said, or is Chuan Jin thinking that he has done his job in clarifying the misconceptions or wrong perceptions by the CPF members.
There are two key principles involved in the CPF saving scheme. One is that the CPF savings are the people’s money, not the Govt’s money. Chuan Jin has clarified this point, that the money is the people’s money. So, would the Govt still think it can meddle with the people’s money as it deems fit, as if the money belongs to the Govt? On what moral ground does the Govt think would justify its actions? The people are stupid or would throw away their money in Batam? Is this a reasonable and acceptable explanation for the Govt to keep the people’s money from the people? The people cannot manage their money? The same logic applies to the people in Govt, even if they have hundreds of millions when they retired, can they handle their money and not squander it away?
The second point is about retirement. CPF savings should be returned to the owners when they retired. When retirement age was 55, the money was returned at 55. Now because people live longer, work longer and retire later, the retirement age has been raised, to 60, 62, 65 and so on. Why is it that not all the money was returned to the people when they retired?
The logic of people living longer is not a new phenomenon relative to their retirement age. When people were retiring at 55, many lived till their 70s or 80s or 90s. The money was returned and they had to manage them and their lives. Some would do it better some would not. No one was arrogant enough to play God, to assume the role of God, to decide to arbitrarily hold on to the people’s money then.
The only difference maybe the people in Govt then did not think they were Gods or immortals or super beans that were smarter than the masses. Today they are different, they know best and arrogated themselves as demigods, even knowing how long a person would live, and how stupid and irresponsible the masses are in the handling of their money.
Remember the bell curve. This is applicable in nearly all situations. Today, there will still be people who would be stupid or through bad luck or bad decisions, lose their life savings before they die. Today, even among the immortals and demigods, there will also be some who would be stupid and lose all their millions before they die. What is the difference? There is no exception in the bell curve.
Back to the retirement age. This is now used, together with longer lifespan, to prolong keeping the people’s money in the CPF. So, if the retirement age is 80 or 90 or 100, the people can only take back their CPF at these ages? Oh, technically the people can still take back their CPF at 55, this has not changed except for this thing called the Minimum Sum. And do not forget there is another Minimum Sum that many would not get to touch, the Medisave Minimum Sum.
The Minimum Sums have changed the whole concept of CPF and the right of the people to their money. So, did Chuan Jin clarify what the CPF is all about and why the Govt has the right to meddle with the people’s life savings to the satisfaction of the people? Does Chuan Jin and the Govt really believe that the CPF money is the people’s money or otherwise? If it is the people’s money, what right does the Govt has to keep the money from the people in the Minimum Sums?
Did Chuan Jin address the people’s problems and concerns with their life savings?
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61 comments:
Delaying returning people as promised would indicate some sign of problems, CPF is a huge sum of money it is a very important part of majority people money?
Could it be they overpaying themselves too much, need the CPF to finance, nobody know the actual underlying reasons the want to keep everybody CPF, the pattern of giving excuses many people know all these years? This is the mobile internet ages unlike the snail mail era where communication is more difficult?
People can get news in seconds, through their mobile devices?
Can enormous these salaries sustain in the long run for a whole group of them, some of the similar population small countries, their ministers only draw around average of $200K, what is the consequences of overpaying themselves many times, it will causes many types of problems?
Why can't those countries with similar population pay themselves such high pay?
Should they volunteering reduce their own pay to that level of these advanced countries?
Simply economic senses they should know when they over paying in investing in a company what is the results? If one company pay it staff many times of other companies doing the similar type of jobs what will happen in long run?
They should reduce various cost and expenditures, to return some of them the CPF?
@RB:
Please lah tambi. It is not the role of govt to do thing on "moral" grounds. Morality is a private affair lah, bloody goondoo how come you don't get this?.
The role of a proper government is do conduct their policies by being in complete compliance with the law.
As far as CPF is concerned, I see no issue. All good. All legal.
The final "test" to determine the true ownership of said money: renounce your Singapore citizenship -- you will get every last penny.
Delaying returning people as promised would indicate some sign of problems, CPF is a huge sum of money it is a very important part of majority people money?
Could it be they overpaying themselves too much, need the CPF to finance, nobody know the actual underlying reasons the want to keep everybody CPF, the pattern of giving excuses many people know all these years? This is the mobile internet ages unlike the snail mail era where communication is more difficult?
People can get news in seconds, through their mobile devices?
Can enormous these salaries sustain in the long run for a whole group of them, some of the similar population small countries, their ministers only draw around average of $200K, what is the consequences of overpaying themselves many times, it will causes many types of problems?
Why can't those countries with similar population pay themselves such high pay?
Should they volunteering reduce their own pay to that level of these advanced countries?
Simply economic senses they should know when they over paying in investing in a company what is the results? If one company pay it staff many times of other companies doing the similar type of jobs what will happen in long run?
They should reduce various cost and expenditures, to return some of them the CPF?
First of all, when they decided on the MSS, it was in Parliament and done by the MIW. Did we have a referendum on such an important issue that affects everyone?
Second of all, 10 years ago, there were no social media and people could not voice their protest online. The ShitTimes, TV and radio are all the mouth pieces of the MIW. So, they did not get any real feedback or objection. Is the the people's fault or the fault of the MIW?
What does Tan Chuan Jin, just only promoted to full minister after so long, know? He is not even on the board of directors of Temasek and GIC, so Chuan Jin doesn't know much about CPF and how it is invested.
Why did Chuan Jin have to open his mouth to defend CPF ? He is not so politically smart and will be relegated inside PAP, it is just a matter of time. He does not have to look far than his fallen PAP comrade Cedric Foo, who was tasked to explain the white horse saga.
Why wasn't army colleague Chan Chun Sing tasked to defend the CPF ? They are the same scholars, but Chun Sing promoted to full minister faster than Chuan Jin.
Please Chuan Jin, get your MOM ministry in order first before trying to be a hero. More jobs for locals instead of foreigners.
Don't commit political suicide by further killing your voter credibility in defending the CPF, something that's out of your league.
Let Temasek director Tharman defend CPF. Tharman is a good guy. He will explain in this way: “People do want to know. There’s curiosity. It is a matter of public interest. But that is not sufficient reason to disclose information.” (His exact words on why Mr Charles Goodyear left Temasek Holdings after having held the job for only 5 months)
If it is our money, why should we have to renounce our citizenship and migrate to get our savings? The CPF has been turned into one big ponzi scam, and it will collapse if they do not invent new ways of keeping our money, period!
Why those advanced countries won't pay themselves so high a salaries, they know it will causes massive inflation and they will be voted out?
The commoners will suffer as a result? Government changed because of hyperinflation?
Singapore as predict is now one of the most expensive place to live on earth, it is like due to their enormous pay and need all those indirect revenue to pay themselves, no matter what type of excuses they justify their pay money must come from somewhere?
$200K per year is still a very reasonable salaries by any means, some foreign workers in Singapore got only $5000 per year? Still compare to foreign workers is a staggering 40 times?
They should consider seriously to reduce their pay on par with those advanced countries, due to various reasons?
"Did Chuan Jin address the people’s problems and concerns with their life savings?"
RB
If I were Chuan Jin, of course I had address the people’s problems and concerns, but if I were a ordinary Sinkie, maybe not.
And if not, so? Ask the LKY style and Chuan Jin will get the correct answer and also be assured. But applies to Sinkies only hor.
What does Tan Chuan Jin, just only promoted to full minister after so long, know?
Anon 11:11 am
If u are not Lee Hsien Loong, it is pointless to ask that question.
Just to share this video that I made in 2009:
http://youtu.be/3T8kInEYNYY
Should there be a petitions to call the hold group or of ministers volunteering reduce their salaries on par with those advanced countries with around the similar population?
Too much overpay could causes, need much indirect taxes to sustain their pay and massive inflation?
Come on, lets not be so unkind to our leaders. They are already so underpaid and waiting for the next opportunity to bump up their pay and you are asking to lower their pay to the level of peasants.
Lets be kind to them. There is a kindness movement going on.
IF CPF money is my money ... then why must I pay interest to CPF for using my own money ?
"CPF is your money", needless to say it belongs to members.
What we don't feel comfortable with is whether or not the money is "safe" and why it is not released for emergency use by members.
Could there be any hidden elements for locking up the money?Probably..
IF CPF money is my money ... then why must I pay interest to CPF for using my own money ?
Anon 12:25 pm
Because PAP as govt has the mandate (60%) to do so.
Why PAP has the mandate?
Ask the 60%.
Ask the opposition why they are not ready to be govt.
Tan Kin Lian
about an hour ago ·
I wish to address the issue on whether the CPF is able to pay off all its members, if it is dissolved today.
The annual report of the CPF at 31/12/2012 showed total amount owing to CPF members to be $230 billion. This is invested in Singapore Government Securities totaling $229 billion, with a few other billions invested in other assets.
If CPF were to be wound up, will the government be able to pay the $229 billion?
The answer is clearly "yes". The reserves of the government comprises of $198 billion in Temasek Holdings, $305 billion in MAS and "over $100 billion" in GIC. The total is over $600 billion.
If this were to happen, will the government be able to sell the assets to raise $230 billion to pay the CPF members? There is no need to. If the government were to issue bonds of $230 billion, that is backed by the $600 billion of actual assets, it should have not much difficulty.
Another way is for the government to "print $230 billion" of money to pay back the CPF members.
The actual amount that the government needs to pay back the CPF members will be much less than $230 billion. The outstanding loans owed to the HDB (which is a part of the government) should be a large sum. Surely, if the government were to pay back the CPF balances, the members should also pay back the balance of the HDB loan?
You can check the figures here:
http://www.gov.sg/government/web/content/govsg/classic/factually/Factually-041012-IstheresomethingwrongwithourReserves
The winding up of the CPF is completely hypothetical and inconceivable. I have used this scenario to illustrate that the savings in the CPF is safe, and that the fear that there is no money to pay back the CPF balance is totally unfounded.
However, I do not support the current system where most of the savings are stashed away by an ever increasing minimum sum. This has to be reviewed, and a portion of the savings should be allowed to be withdrawn at age 55, even if the savings is inadequate to meet the minimum sum.
Tan Kin Lian
http://momsingapore.blogspot.sg/2014/05/the-truth-about-our-cpf-and-minimum-sum.html?m=1
http://www.todayonline.com/singapore/closer-look-cpf
Here's the retort to TCJ the junior minister who is just parroting the govt's stance since time immemorial.
1) He said so himself..n point 2 *3 = Prices will increase over time and our daily needs have increased. So while he recognize that prices/needs will increase, he still insists that our Minimum Sum must therefore increase. Why not suggest that the interest rate increased instead?
2) He claims CPF money is ours, but yet, he didn't agree that we have full control of how(much) we can control our own money. Instead, he drawdown is 100% determined by the MOM. What right does he have ?
3) If the Universal Healthcare plan + Pioneer Package Plan are really so "talk gong" = good and comprehensive as the govt tout it to be, then it should in theory and practical terms, cover them for most of their healthcare needs. So why then is mandatory Medisave contribution as high as 66% & 82% for CPF members in 60-85 yo age brackets?!! It only prove that SG medical cost will increase so that you will suck more cash via medisave to meet your spending/subsidy instead!! Why don't you come clean?!
To quote example to say that the Europe social security fund is not working thus SG cannot have the same is a false flag. We are not even anywhere close to even getting there under the PAP rule. Instead, it is every members must provide for their own retirement. The fact that there are fewer young people paying for old people is redundant again because you have mitigated that via your liberal lax massive immigration plans to make up that shortfall..so really, you have ran out of your bloody excuses!
CPF members should all come together and file a class action suit againt CPF on their illegal retention of members' money.
Hi Kin Lian, thanks for your thoughts.
What we are seeing is that a decision or goal has been set to do something, say in this case, to retain the CPF money for as long as they could, and the rest of the reasonings were just reasonings to back up the case.
As you have pointed out, the reasonings are full of holes and contradictions.
When the objective or goal is not sound, all the reasonings will not be sound.
I like the class action part. The govt may have the right to legislate a lot of things. The people can challenge the govt's right to legislate the retention and use of the people's money and life savings. It is like legislating away a person's money or property. Can a govt do that? Legally yes, even legislating to make slaves of people. But does it violate other provisions of the constitutions?
Our learned friends are all very quiet, lips sealed and stitched.
So shall we raise money and hire a lawyer like Ravi to sue the PAP government for the return of our money?
PAP government's raising of the CPF Minimum Sum has not yet been tested in court.
Or changing the age of full withdrawal for that matter.
"But does it violate other provisions of the constitutions?"
RB 1:24 pm
This one no need learned friends or lawyers lah, I can tell u.
The constitution allows for an elected govt to pass laws in Parliament, with the support of at least 66% majority of elected or walkover MPs only, not NMPs or NCMPs.
The constitution also does not specifically say that laws to make slaves of people cannot be passed. So even if such laws are passed, these laws do not violate the constitution.
So most important is to get the 66 % support, preferably of course if they are also from the same party.
Which is why the opposition being not ready to be govt is such a huge and epic letdown to Sinkies who think they have become "slaves".
Correction to Anon 2:02 pm
Slavery not permitted under the constitution:
Slavery and forced labour prohibited
10.—(1) No person shall be held in slavery.
(2) All forms of forced labour are prohibited, but Parliament may by law provide for compulsory service for national purposes.
(3) Work incidental to the serving of a sentence of imprisonment imposed by a court of law shall not be taken to be forced labour within the meaning of this Article.
But increasing CPF minimum sum and delaying withdrawal is not slavery so it is permitted. So even if Sinkies think this is a form of slavery, it is permitted.
"...but Parliament may by law provide for compulsory service for national purposes."
Hahahahahahaha. That's how NS applies to male Sinkies. And for national purposes.
Can our money also the national reserves?
"Today they are different, they know best and arrogated themselves as demigods, "
- partially agreed. partially, they think they are those meimeis from third world countries trying to squeeze every cent out from the elderly. perhaps rb can set up a "return cpf party" RCP in short to rally in the next election.
Tan Chuan Jin slapped Matilah Singapura for saying CPF is a tax. CPF is our money, not a tax.
The acid test if CPF is your money - can you take it out any time you want? Can you do what you want with it?
Poor Tan Chuan Jin from MOM made to defend MOF for something he did not do and not familiar with.
Why aren't MOF or CPF come out and defend what they have done?
If cpf is a tax, there is no need to pay interest and try all sort of ways to stop you from getting it back?
"The final "test" to determine the true ownership of said money: renounce your Singapore citizenship -- you will get every last penny."
- any recommendation how to get a foreign passport easily?
I do not think that MOM Minister volunteered to defend the undefendable-CPF and Min Sums.He is not that stupid!
The public outcry and Roy's accusation must have been discussed in the cabinet meeting and the MOM Minister must have been arrowed to the task.
The MOM Minister is right to say that CPF is people's money. And people have voted in the Govt to manage their money for them in their interest.
I feel a bit sorry for Chuan Jin for being arrowed to reply to the public on an untenable position that he had nothing to do with. You cannot defend something that is undefensible.
Would the people responsible for creating all the schemes stand up and be man enough to answer for their actions and not hide behind Chuan Jin? This is not a small issue and the camel's back has been broken. Chuan Jin should not be responsible to take the rap.
Let's be fair to him. He is a newbie.
Foreigners who are reading this CPF issue, please note that this is NOT a govt pension scheme.
This is a compulsory saving scheme contributed by the people's monthly savings. It is the people's life time savings. The money belongs to the individual member in the CPF.
Hi RB, we are so tired of your babbling about this CPF issue. Why don't you just take your money and give up your Singaporean passport? If you do that I am sure lots of people in Singapore would wave a good riddance goodbye to you at Changi. Your continuous hammering on this CPF issue is getting boring. Please do not post any CPF issues again. Take your money and get out. New citizens would love to take your place.
RB is 65 this year. He is therefore not affected by the CPF min sum of $155,000 or under CPF Life. And for all u know, just like Tan Kin Lian, he may not even need his CPF money!
So he is "babbling" for the sake of the less fortunate Sinkies who are "enslaved" by the CPF scheme. He is also earning some kopi and exercising his brain this way. Or else can go senile at old age, u know.
Tio bo, RB?
The only IB that is tired about CPF issue is you. Everyone is very concerned about this issue.
Why don't you go fark off instead of hiding here to waste people's time?
If you don't go away RB will complain to your mother when he sleeps with her tonight.
Mr Tan, of cos we know that the money in our cpf account is our money but not when you make it a law to stop us from taking them back when it's due at 55, instead you locked them up for another 10 more years, a highly creative accounting which you called it RA (retirement account) when you knew it all along that many are still servicing their housing loans through our cpf savings and forcing the folks to fork out cash to settle the monthly shortfall or else be prepared to face repossession from the board or even forced sales to recover the arrears, and even worse affecting families break ups and suicides due to financial difficulties. Is this the kind of gov we want or you think we the people of Singapore are still idiots?
We now have Gerard Ee says "Public transport is not designed for comfort".
Hello, Minister TCJ, "Public Service is also not designed for millionaires".
What is MOM going to say next? Private CPF is not designed for retirement? Why don't you just come out front and say it once and for all. To accuse that many people are unable to handle their own financial well (subject to wasteful spending * scams etc) PAP is actually declaring a class war.
Those of you lower rank and common masses simply do not have the intelligence to handle this well.
Same story, different shit. Machiam the NS boy at 18yo are old enough to carry guns and defend /die for the country (as cheap slave) but not old enough to vote. Retiress have worked long enough to save and retire but not wise enough to retire responsibly. The only wise owl on this island is the 90yo who can still make $15,000 per month for doing nothing and sit on the board of G!C to oversee all the masses money while he slowly rot away...UNIQUELY singapore and UNIQUELY DAFT singaporeans.
Machiam the NS boy at 18yo are old enough to carry guns and defend /die for the country (as cheap slave) but not old enough to vote.
Anon 4:39 pm
No choice lah. By voting for the PAP, 60% endorsed this, what to do.
Why the opposition does not have just one party, accept one leader and contest 100% seats hah?
If Lee Hsien Loong can do that, why can't the other opposition leaders? They are not less talented than Lee Hsien Loong, tio bo? Or are they?
Me think the 60% are the cause of all the miseries in sg. We should be blaming them on everything - single sufferings, death during NS, cpf lock up, medicare not enough, expensive housing and costs etc.
Why not redbean form a political party called;
CPF First Party.
Sure can win 100% of the votes.
You know which party will get 0% of the votes?
The party called LKY First Party.
Alamak! The new SFP logo looks like Walls ice-cream logo.
Better change it before kena sue.
A proposal from Sam Tan a reader of TRS
A simple answer to the complicated CPF question.
Lots of people have come out against CPF, most are saying that they want to withdraw everything at 55, some are even saying to abolish CPF and give back everything now.
Why dont we have an opt-out scheme instead? If a person opts out from CPF, they can get back all their money. BUT, on the condition that when they finish their money, either by spending it like water or gambling it away, they will not be able to ask the govt for more aid from taxpayer's money. Fair?
Lots of people support CPF because they are afraid that if people start taking out all their money, they will spend it away and then come back to ask for more when they are broke. This will make all our taxes go up in order to support these people. But if this opt-out scheme is implemented, I think no one will have a problem. Both sides will win, those who want to withdraw from their CPF can do so, and the rest of the population can go on without paying more taxes for people who spend irresponsibly.
What do you guys think?
"Why dont we have an opt-out scheme instead?"
theonion 7:54 pm
But have you not considered that policies are not meant just to benefit Sinkies only?
They are also meant to benefit PAP and the nation. And this comes first, even if Sinkies have to make sacrifices, eg NS for male Sinkies.
So the more pertinent question should be:
Will the opt-out scheme also benefit PAP and the nation? If no, 93% chance PAP will not implement it.
Matilar,
It's not a day u can leave people alone without wasting their time. U very free is it. I just got back from my trip and glad to disappoint u that your curse did not work. Very free is it? Go write your book lar especially book 11 lar knn your mothfucker..
Since 4.16 pm suggest to cut matilar balls, I think he should write one more book as book 12 as follow
1) how to boast about sexual power when both tiny are missing
2) the art of incest
3) the guide on how to bull shits
4) how to irritate people and waste their time daily
5) learning to be thick skin and flameproof
6) how to tahan when your ass kena fucked
7) how to act as patriot when you are a traitor
8) how to act and look normal when you are actually insane
9) learning to speak when a cock is stuck in your mouth
10) how to con your sisters and daughters to continue having sex with you without reporting to the police.
11) How to develop multi tasking skill. Sharing of secret on Learning how to type on keyboard posting commentary on blog when there is a hard cock pushing in and out in matilar mouth.
12) How to cook two tiny to be delicious enough that the pigs would eat them.
Book 12 also can.
PAP = nation?
If yes, then what anon 8:13 pm said make sense.
Take your organs also never ask your consent and you got chance to opt out your cpf???
Anyway today many PAP MPs wah sing we are Singapore, Singporeans song in parliament.
ALL FIGHTING FOR SINGAPOREANS.
Must be trying yo secure their positions fir the coming GE.
To be synonymous with Singaporans
Why dont we have an opt-out scheme instead?
good idea. I want to opt out from;
a. CPF
b. National Service
c. Compulsory Organ Removal
@ PAPig theonion
//// If a person opts out from CPF, they can get back all their money. BUT, on the condition that when they finish their money, either by spending it like water or gambling it away, they will not be able to ask the govt for more aid from taxpayer's money. Fair? ///
Why not if a PAPig loses the elections, he will not be able to hang around anymore as a grassroots advisor?
Fair?
Chuan Jin = Ethan Hawke
Always gets the Mission Impossible job.
This PAP Minister always kena sai from his boss.
Bro, these 60 % benefits from the PAP policies so why vote opposition to rock the sampan??
Those who are collecting passive incomes from renting their properties to the foreign trashes.
No need to work can go for long holidays.
Those businesses who benefitted from the population boom of foreign trashes and buying their sentosa cove properties soon.
Those who are PAP supporters like the RC members given special benefits wants to still enjoy these benefits.
Those who brought their flats for 46k and staying in them for 46 years can sell them for 800k why so stupid vote opposition
Those deeply in stocks snd shares would not want their assets to be devalued in the case the opposition becomes the government.
Those who do not look beyond their noses netizens given some gst credit benefits and 100 bucks sports subsides will pray to the ah kong for more.
Those given red instant passports will have to be grateful to their benefactors for given them instant gratification in enjoying all the benefits and offers of the country without working a sweat to buikd this country.
And many many mores siew thiam sinkies
When give excuses they are very good at it?
They want to keep people money they can give hundreds of reasons, like they pay themselves such high salaries giving all sorts of funny excuses even a child might laugh at it, don't say those advanced countries with similar population yet only got 10 percents of their income?
From prevention corruptions, to clean money, to they are scarifying to be ministers, to after retire they got difficult getting jobs, to they are the best talent available the problem many of the ministers are civil servants, to they would getting better pay in the private sector, some of the excuses all those advance countries ministers heard they will be kept laughing non stop, they thought they are hearing some kind of jokes?
Ultimately this is people money, which was promised to be returned to other when reach 55 when conceived? People should have the options those want to take back, those who want to keep it can put it in CPF?
So that CPF should not have so heavy load manage to manage too much money putting all the money in one basket?
It is very difficult to consistently get 3 percent plus all the investments costs consistently over long term of time with such a huge amount of funds?
Chuan Jin, you are being asked to be the bad cop. You know the reason why. You are a scholar, same as Chan Chun Sing. Why he can be the PM-elect/PM-in-waiting candidate, but you cannot?
In a democratic meritocratic party, it should be open to all rank and file PAP cadres to vote for new PM, not for a PM-elect chosen by just one person.
Chuan Jin, ask yourself this question : Is your conscience happy ? Yes the money is good, but look at Ong Teng Cheong. He is the people's hero. It's time you quit PAP and joined any alternative parties.
Yes, you may lose, most likely you will even be destroyed career-wise etc in Singapore. But you will be the first minister after Tan Cheng Bock to make a Real Difference to the status quo.
Why not if a PAPig loses the elections, he will not be able to hang around anymore as a grassroots advisor?
Fair?
May 26, 2014 9:18 pm
Why not if a Member of Parliament can no longer work by showing up regularly for his Meet-The-People Session .... then he should resign immediately.
And not keep coming back elections after elections asking daft Singaporeans to vote for him.
Fair?
thepotato
When giving excuses they are very good at it?
They want to keep other people money they can give hundreds of reasons?
When they pay themselves such high salaries they can giving all sorts of funny excuses even a child might laugh at it, don’t say those advanced countries with similar population yet only got 10 percents of their income?
What do you think, when they give these type of excuses in the Parliament, that they should get these amount of pay and other people can't manage their own money they manage for others?
Those funny excuses prevention corruptions, to clean money, to they are scarifying to be ministers, to after retire they got difficult getting jobs, to they are the best talent available the problem many of the ministers are civil servants, to they would getting better pay in the private sector, some of the excuses all those advance countries ministers heard they will be kept laughing non stop, they thought they are hearing some kind of jokes?
How many ladies took out their CPF to spend all their money on men at Batam?
Many people had very real need of the money and the need at least some of the money for emergency or after working for so many it is their entitlement to spent some of it?
No many people can live more then 70s, many had died in the fifties and sixties, due to today stress and chemicals used in food?
Ultimately this is people money, which was promised to be returned to other when reach 55 when it was conceived? People should have the options those want to take back, those who want to keep it can put it in CPF? Like the self exclusion in the casinos if the worried they overspent their money?
So that CPF should not have so heavy load to manage too much money putting all the money in one basket?
It is very difficult to consistently get 3 percent plus all the investments costs consistently over long term of time with such a huge amount of funds?
knnccb ..
he should knnccb ...
knnccb .... limpeh will knnccb hsien loong, i resigned to the fact my blood n tear cpf fund is pek kim for old fart kuan yew
unless a miracle happened, an uprising and the street turn red,... knnccb, not blood lah but angpow packets
Should they ask if they had any good reasons of excuses not to pay themselves so high a salaries, so they might return some of the CPF to those who need it at 55?
What are the reasons they should not be pay so high a salary compare to those advance countries who get only 10 percent of their pay?
It just can't a person have the time to be in politic and at the same time manage such a huge amount of funds,it simply not possibly it it got to spent huge amount of time to buy those huge companies with these type of funds that manage millions of dollars?
It need huge amount of time looking for investments which gave you 6 percents returns every year with the funds of these scale?
Not every investments can made money, you need to make more money from the investments you make then the lost you made?
It is wiser to manage lesser funds return some to those who can manage themselves better at 55? To diversify the risk?
@b 250:
>> - any recommendation how to get a foreign passport easily?
Just pay money to specialist lawyers. Search the internet at "sovereign individual" websites. For e.g.: Panamanian citizenship is very popular amongst Indonesian towkays so they can shift their ill-gotten largesses off shore and "immunise" themselves from prosecution.
Getting a foreign passport is easy. You have to actually RENOUNCE Singapore citizenship -- sign documents, make stat dec etc. then you can get "your" CPF.
@Virgo 915:
You can opt out of compulsory post-mortem organ donation. But you must do it while you are still alive ;-)
Once you are dead, ALL (yes, all) your rights cease, as rights only apply to LIVING individuals. Whatever arrangements you make for your DEAD self, has to be made when you still have rights as a living person i.e. in a will.
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