I am very concern for our ministers. They are so used to their high
income and high living. If they did not save enough they will not be
able to live the same lifestyle when they reach 80 or 90. The CPF
minimum sums will not be enough for them to spend in a year. The CPF
must do something to help them when they retire. We as citizens must
reciprocate the kindness and compassion and care shown to us by the
minister and in turn do something good for them.
I would like to recommend that the CPF designs a special scheme for the
ministers like putting $1 mil every year into their retirement fund.
Their minimum sum should be at least $5 mil so that they will have a
generous payout when they are retired and start to draw down on their
savings. Wait a minute, $5 mil minimum sum may be insufficient. An
average Sinkie with an annual income of $50k needs a combined minimum
sum(MA and RA) of nearly $200k to ensure a similar or decent lifestyle,
so the CPF said. How much should be the combined minimum sum for a
minister earning $2 mil pa? Simple arithmatics, $2mil versus $50k, works
out to be 40 times. So what is sufficient for the average Sinkie at
$200k would mean a minister need $8 mil to be set aside in his minimum
sums to be able to live well like he is now. No downgrading of the
quality of life.
It takes a lot of money to service the mansions they owned, the big cars
and the servants to look after the properties. $8 mil minimum sum is
just about right. And the Medisave Minimum Sum must be enough should
they be warded in private hospitals.
CPF, Please don't fall asleep. You need to take care of the ministers
when they retire, you need to plan ahead for them. Make sure they don't
squander their monies on mei meis, the expensive ones. Make sure they
have enough minimum sums in their MA and RAs to live well into the 80s
and 90s. You do not want them to suffer a drop in their standard of
living would you? CPF must take good care of the ministers as well.
They deserve to be very well taken care of, and the CPF is the right
body to look after their interest, plan on how much they should set
aside, plan on how to best use their life savings. They deserve better
for taking so good care of the citizens by ensuring the citizens have a
lot of money in their CPF to retire. The citizens must be grateful and
do something for them too.
What do you think?
Kopi Level - Green
I suppork!
ReplyDeleteIt's only right that our Ministers get to use our CPF facilities to support them in their old age.
It's good that CPF can do more to help our Ministers manage their money.
ReplyDeleteIf not they may go to nearby countries and let young chicks squander their money. How?
ReplyDeleteRB:
ReplyDeleteI think it a great idea. What's more "We The Sheeple" are the rue "employers of the Monisters. Therefore "we the sheeple" must not shun from making that 16% EMPLOYER'S CONTRIBUTION to ensure that the beloved Monisters, who sacrificed so much for so many are well looked-after in their dotage.
>> Make sure they don't squander their monies on mei meis, the expensive ones.
Please lah...mei meis? I look at the Monisters faces and i think they don't know how to even shake lah. If you put a mei mei's chee bye in fron of them, they will call police to have you both arrested ;-)
Matilah, you think they are inhuman, like immortals? Wait till they show you one or two tricks to malu you.
ReplyDeleteWhen ministers retire, they have tens of millions, plus fat pensions, so they do not need minimum sums at all. Sinkies were shocked when one minister revealed his worth recently. Rest assured they can certainly look after themselves and their kakis.
ReplyDeleteMany Sinkies also have tens of millions. Ask Wee Cho Yaw and Ong Beng Seng or Quek Leng Beng.
ReplyDeleteMany may not have that much but would still have a couple of millions to live very well. Why must they set aside minimum sums again?
RB, you are so kind and caring to look after the ministers just in case they squandered their tens of millions away. At least got a few millions in minimum sums to live well.
I 100% concur, brilliant idea!
ReplyDeleteThe CPF for ministers when it is time for them to receive the payouts from the government will be small change to them. The money they have in their oversea bank accounts will serve them well. RB, please do not worry for them, they will be OK. You must worry more for the old " Ah Pek and Ah Soh" who work in wet markets or food courts who have very little CPF or even none at all. I am an outsider and I do not have CPF. speedwing here.
ReplyDeleteThey do not need minimum sums because they have life long pensions and free medical care. They condemned pensions for people but they favour pensions for themselves. All politicians are evil.
ReplyDeleteHehe...
ReplyDeleteThink Rb forgets the PENSION lah.
BIG SUM OF MONEY PAY TO THEM TILL THEY DIE HOR!
One Cabinet Member's Pension could well be a cleaner, driver or a technician's many lifetime income.
Fuck the System.
patriot
Hi Patriot, pension applies to the oldies. No more pension for new ministers.
ReplyDeleteThx Rb for updating me.
DeleteNew Ministers dont need pension lah. Persobally, my gut feeling is many of the Current Young Ministers will abandon ship tge very moment the Ship tilts badly or water is seeping into the hull.
Sori to all for my negative reading, somehow me has this instinctive feeling that a horrible storm is about to arrive. Not tonight though, so good nite All and have a good sleep.
patriot
Btw, the multi millions Sin Dollar per term will get the Cabinet Members many generations of good life elsewhere lah.
Deletepatriot
Ministers, like Khaw Boon Wan, only need $1k for their Medisave a Minimum Sum. Cut them up 100 times and then see back each time $8 only. Enough already lah.
ReplyDeleteIt's a fucking joke when Papigs have one set of standards for themselves & another standard for the lowly Sinkies. No wonder even 17-olds tak boleh tahan want to fuck them!
ReplyDeleteLooks like now the PAP name really stinks just like Shit Times & all the good things done by the pioneer leaders are being dismantled one by one by their own greed.
Those PAP bastards have 'Pensions' while the whole country have to pay their hard earned money to the Central Ponzi Fund.
ReplyDeletePAP is totally corrupted in a LEEgal way.
Total bastard like Mah Bow Tan have $28 million investment in GSH Corp and it was estimated that he had about 1-200 million of total investment not including assets.
That is why PAP is always saying it is not to the 'People's interest' to declare their wealth!