Revamping the CPF?

I have seen some comments calling for a revamp of the CPF these few days. It is fat hope if anything meaningful is allowed to strangle this golden goose that lays the golden eggs. Yes, this public fund, the life time savings of the people for retirement has now been hijacked into something else. It is the nation’s reserves, I can’t believe it when I heard this. It is the biggest source of cheap loan to the govt. No, that is not accurate. It is the biggest source of cheap loan to the govt and with a flexi date for redemption. And to some people, they can commandeer it to make compulsory purchases of things that the owners of the money have no right of refusal.

Now who would want to change the CPF to its original form and design, to return the money to their rightful owners as contractually agreed upon? I know, many people would want it to be that way, the owners of the money. Unfortunately they have little say on this.

So, what do you think will be the so called changes to the CPF? More money to be kept in the CPF for the good of the CPF members. That must be the only way forward. It benefits everyone who needs the money to churn. The real owners of the money can only smile at the huge numbers in their monthly reports from the CPF and be glad that they have so much money in their savings.

The CPF was created at a time when people worked and then retired, at 55. Then the sum grew so big that the money could be put to other uses like the purchase of homes. And still there was so much money left and many schemes were hatched to utilize the money until we hit the current crisis. Not enough money for retirement.

But who is talking about retirement? If the people are to work till they die, with no retirement, why is there a need for CPF to provide for retirement? And why is the people’s savings become the nation’s reserves?

What do you think? Any human rights lawyer think there is no violation of human rights, the right to your own property/money? Can a govt be given full liberty to do as it pleases with the people’s life savings? This is the people’s life savings, not dole or handouts by the govt.

Kopi Level - Green


Anonymous said...

CPF can only be reformed with a change in government.
PAP government is determined to protect CPF money from their daft owners who don't know how to manage their own money.

Anonymous said...

It's only a matter of time before some cheaperer arsehole-in-white starts to do another cost savings exercise for our airlines.


Ⓜatilah $ingapura⚠️ said...

CPF re-vamp: Minimum sum $1 million. Employee contribution 45%. Employer contribution: 5%. Interest paid: 0.5% above "official" inflation rate.

"Say hello to the new boss. Worse than the old boss".

If a situation is already fucked, sometimes it is wise to leave it alone. People come to fuck with it, it could end up being WORSE.


>> CPF can only be reformed with a change in government.

Be careful what you wish for. ;-)


>> Any human rights lawyer think there is no violation of human rights, the right to your own property/money?

"Human rights" was invented in the 20th century. Prior to this piece of deluded fiction, our crazy hairless-ape species had been killing and plundering each other for 200,000 years, and if you take it back to the oldest hominid fossil discovered -- about 4.4 million years.

"The State" was another human invention. The State and Human Rights has never in the entire human historical record, been in happy co-existence with each other. In fact, The State has more often than not, trampled all over the silly idea of "human rights".

>> Can a govt be given full liberty to do as it pleases with the people’s life savings?

ABSOLUTELY, and legally too. BTW, it is not technically "people's savings". It is a tax, where the newer members contributions are used to fund the older members contributions. This is a variation of the age old HDB game of "tontine" also known as Ponzi scheme of which Bernie Madoff is the reigning, undisputed champion.

>> This is the people’s life savings, not dole or handouts by the govt.

You are free to define it anyway you choose. You are free to be totally wrong. But it won't change the fact that: "it ain't your money!"

Anonymous said...

That's why smart Sinkies don't depend on their CPF money, knowing full well that PAP will make it harder and harder to withdraw CPF money, and even harder, if not impossible, to vote PAP out.

So what smart Sinkies do is to make lots of money, much more than their CPF money, and put it in their bank account. Very liquid some more, anytime can withdraw one, tio bo? And high liquidity is a measure of a Sinkie's networth, not the high value of Sinkies HDB pigeon-hole or condo property or CPF!

I believe 60% Sinkies have achieved this even in 2011 so they were happy and satisfied to vote PAP to remain as govt.

Anonymous said...

Smart Sinkies will make a lot of money to put into their CPF to earn more interests.

Anonymous said...

No need to work so hard in Singapore lah!
Just vote out PAP.
Then you get to enjoy the fruits of your labour.

Chua Chin Leng aka redbean said...

Matilah showing his wisdom.

'If a situation is already fucked, sometimes it is wise to leave it alone. People come to fuck with it, it could end up being WORSE.'

Then back to his normal self.

' It is a tax, where the newer members contributions are used to fund the older members contributions.'

If Sinkies believe him in this, then they might as well say goodbye to their CPF. No way, CPF is the Sinkies life saving and must be returned.

Ⓜatilah $ingapura⚠️ said...


Tolong lah tambi, don't "believe" anything. "Belief" is the lazy way. "Knowing" will serve you much better. e.g. do you "believe" you can tie your shoe laces, or do you actually "know" that you can?

So please don't "believe" a word I (or anyone for that matter) says. Find the fuck out for yourself lah.

If you "believe" that the ink on the CPF statement represents your money, then good for you. No action required. You can "believe" to trust the govt to look after your money.

However, in my mind, and experience, I KNOW different ;-)

As they say in Thailand: Up to you!

As they say in Singapore: You die your pasal!

Ⓜatilah $ingapura⚠️ said...

@RB: >> Matilah showing his wisdom.

Eh, Uncle, I have opinion lah. Dun suka suka say "wisdom", or your standard jatoh macam nanka busok.

Anonymous said...

Regardless of who is in power, CPF $ will still be locked in the account for retirement purposes.

It is precisely that the majority of members are unable to meet the minimum sum requirements that worry our authority, bearing in mind that any social issues would eventually lead to disaster.

agongkia said...

Dun keep talking about human right violation and dreaming about cpf money,and land our self in imh or kena shoo......

Either one work harder or longer hour to pay more cpf or earn less than 500 monthly and dun feel the pain of paying.
The choice is yours.

Anonymous said...

Yes the choice is ours. Only one good choice -


Anonymous said...

The solution to this perpetual CPF fiasco is very simple. You need no count on Roy or anyone to speak for each of the retirees frustrated by this foregone transparency or accountability.

People need to remember one thing. If the elite requires or does something to you, make sure you double confirm the same thing for them too. It is called Reciprocity. So that there can never be no mistake about the citizens' intention.

They say more FT and competition is good- so import emigration. You say tiok, and you send in more competition for them in the parliament..not even FT, only LT!
What is sauce for the geese is also sauce for the gander meh.

So they want to sue the citizens or dissenters to fix them. So play by the same rule lah. Come together and hire Ravi to file a class action suit against your PM or the screwed-up entity who refused to fix it lah..! If a cleaner can bring the case to court and clarify PM has no unfettered right, why can't a BIG enough group of retireees/people concerned with their CPF savings do the same in a collective law suit? Does the CPF/GIC/Temasek have the unfettered right to detain your savings and money for retirement? This is a very straight forward international open/shut case based on contractual national agreement. Take it all the way to the Hague court if you even like!

Case open/closed. No need to wait for GE2016, no need to beg for referendum. Since PM is the ONLY state leader who sue Blogger citizens for defamation, then make it the ONLY country where the citizens sue the leader for negligence and failure of duties.

Remember, dont just sit there like a turkey waiting for xmas to come around once a year. Is your neck on the chopping board for stew soon.

b said...

All politicians are evil. They all want to screw their people through the seven basic stuff they are put in charge of - housing, education, jobs, healthcare, education, retirement funds, transport. Instead of improving those stuff, they will rip us off using those stuff. They have breached the constitution by performing a felony act.

b said...

Human rights violation is only valid if there is a powerful backer with an aim to make more money. Everyday, there is so much hr violation in this world but no one bother to seek justice for them.

" Some 300 million children go to bed hungry every day" UNICEF - where is human rights when and where they are really needed?

This world is full of bullshits.

Anonymous said...

Revamp is possible if a new regime is willing to change it.

Anonymous said...

The more you complain about CPF, the more changes they will make, the more we get screwed. I think the Government is getting to like the whinning and complaining about CPF.

It is a blessing in disguise for the powers that be in such a situation. They have all the reasons to make changes, tweaks, more rules and in the end more money being held hostage.

It is a win win situation for the Government. And always a lose lose situation for the powerless and downtrodden serfs.


Anonymous said...

Dear RB, I read your many posts on this CPF issue and I think you are passionately oppose to the way your government is handling the issue. I also understand that when a person denounce his or her Singaporean nationality that person is entitled to take out all his CPF and migrate to another country. That said, I am wondering why you do not do just that. Leave, take your family with you and sail into the sunset into a more perfect world you choose. Similarly to all who are always bitching about this issue, just leave Singapore. Leave this island to those who are more appreciative. There are many who will take your place willing to come over from the Philippine, China, India and maybe from other SE Asian countries.

Anonymous said...

I agree with 5.07. RB and all who oppose the PAP government should leave and let the more deserving FTs in to take over.

Anonymous said...

@ May 22, 2014 2:30 pm

Very well thought out strategy and logic.
It's time citizens group together to sue PAP government for the return of our CPF money.

Reciprocity. Agree. I will vote Opposition to create competition for PAP in exchange for the competition I receive from aliens in the job market.

Anonymous said...

RB, don't you ever leave Singapore for good. At the present juncture of our country's existence, Singapore and Singaporeans need more people like you. The cronies, lackeys and bootlickers would be more than happy to get rid of you, because you are seen as a thorn in their neck. Since they cannot force you to leave them alone, they are "advising" you to leave. Be patient. It is a matter of time that the dictatorial regime will screw itself deeper and deeper, and the mess will get uglier and uglier. So persevere and preserve. Another 2 to 3 GE (10 to 12 years) and the game will be over.

Anonymous said...

Anon 8.25

The day you dream about will never materialise. PAP will hold on to power forever. It is good for the 60%, and that figure will increase with more importation of new citizen. Those who are unhappy will leave and replaced be the new PAP voters. Thank God for that. My advice to you losers is " If you cannot stand the heat, get out of the country ".

Anonymous said...

Those IB at 5.07 and 5.15pm are clearly outstanding parrots and dogs for their masters. They have become servants so long now, putting them in charge of the cleanliness of the house and think they are masters to tell those who disagree with them to get out of the country so that more 'deserving' FTs can come in. Incredible..they should keep repeating the same mantra through to GE16 and I guarantee they will win more votes.

Hey lapdogs, don't say i never come up with good solutions. Why don't you go tell your master to turn every sinaporean passports into an instant $500k worth of citizenship instantly. And anyone who has run of their retirement cash to live on because of CPF or high inflation cost, they have a choice of selling their passports to the highest incoming FT bidders, if they are so deserving and yao gui about the SG citizenship. I am sure like the HDB leaseback, you might just get rid of some people that way. Go ahead...i challenge you to monetize the passports to solve the retirees problems.

Anonymous said...

This country is now flooded with traitors working hand in hand with foreigners to get rid of Sinkies. It is only a matter of time before Sinkies lose their country to these usurpers if they failed to do something about it.

RB and all those who believe in this island and call it home must stay put and get rid of those traitors and foreigners coveting their country. Now they are so blatant to even want to chase these patriots out of their country.

Anonymous said...

knnccb ...

still dreaming of withdrawing those cpf funds tack to your nric number?

why stinkaporean so hopeful

knnccb ... hsien loong; knncccccb

Anonymous said...

Matilar go focus your energy doing something positive rather than spewing nonsense everyday and wasting people time. Go write your book like many have suggested. I hope you write book 11 first.

Anonymous said...

" If you cannot stand the heat, get out of the country ".
Anon 8:46 pm

Tiok. That's what many smart Sinkies did for years already.

But smarter Sinkies know how to turn the heat to their benefit. Hence they made lots of money and have a good life. And of course they will vote PAP.

If there are not enough of such smart real Sinkies to vote PAP, PAP will simply convert many foreign talents into such Sinkies!

So by now u should understand why PAP need so many foreign talents, and from whatever available source. Because they really matter to PAP.

Anonymous said...

Aung San Suu Kyi said you can keep your money. There is more to life than just making money and forget about living. There is more to a country than just economic growth by flooding the country with foreigners at the expense of the citizens.

Anonymous said...

"So by now u should understand why PAP need so many foreign talents, and from whatever available source. Because they really matter to PAP."
Anon 8:44 am

So do Sinkies really matter to PAP?

Yes. But not the Sinkies but rather the Sinkies'CPF.


Anonymous said...

And babies.

Anonymous said...

So, come 2016, let,s VTO and get rid of the foreign trash. Those are ungrateful dogs that come into our house and when they stayed long enough, the think they are now the masters and will bite the owners and try to chase them out.

Anonymous said...

Empires rise, empires fall.
Kingdoms rise, kingdoms fall.
Countries rise, countries fall.
Organizations rise, organizations fall.
Leaders rise, leaders fall.
People born, people die.

Impermanence is the only universal Constant in the Nature of Life and Things.

Nobody can live forever and no political leaders nor parties can last forever.

It is only a matter of time.

Impermanence is the Mediator and Justice that does not respect your power, your wealth, you intelligence, your cunningness and whatever you may possess.

One can attempt to delay or prolong the agony of one's demise, but it is only a matter of time that one will surely fall.

In a short period of the last 100 years, the status of Singapore changed how many times?

Impermanence is The Only King that rules forever and ever!

Anonymous said...

To effect change to CPF uner the rubber stamp parliament is impossible.

We need more elected MPs from the opposition, NOT more NMP or NCMP, to vote against the CPF or other policy like the 6.9m population, that is bad to the Spore citizens !