A
blogger b said that the CPF fund is for retirement and not meant for a rainy
day. This is a very simple way of saying what the CPF money is all about. It is
for retirement. It is not to be kept forever like the nation’s reserves, waiting
for that rainy day that may not come. Oops, our CPF is also classified as the
nation’s reserve, so how? If it is the nation’s reserves then it is right to
keep it forever for that rainy day right?
Can
I say wrong? Everyone who contributes to the CPF never think of their savings
becoming the nation’s reserves to be kept for a day when the country needs it,
not you need it, it could be both. The people putting money into the CPF are
very clear that it is for their retirement. A retirement fund is simple to be
returned to them when they retired. When did they retire? It used to be 55.
Then change to 60, then to 62, then to 65. What happens if retirement age is
raised to 80? Possible, can? 100?
At
this moment, retirement age is 65, I think. So rightfully the money must be
returned to the people to use for their retirement. Tiok boh? Is the Medisave
Account, with a huge minimum sum, a retirement fund? How did this animal come
about? Why shouldn’t this be returned to the people when they retired? Or is
this another fund to wait for a rainy day? If wait for rainy day, then cannot
take out until the rainy day comes. If it comes, be grateful of this rainy day
fund. But it may never come.
How
many people put their savings in the CPF for a rainy day? Who changed the CPF
from a retirement fund into a rainy day fund?
There
is no point putting money into a retirement fund when you cannot take it out
when you retire. It defeats the meaning of a retirement fund. Can anyone see
the difference that I am making, or what b said? Is it so confusing? Who is
still unable to make out the difference between a retirement fund and a fund
for rainy day? A fund that you cannot take out when you retired is not a
retirement fund.
Kopi Level - Yellow
5 comments:
Kani nah, get annuity still not satisfied?
Lucky you can get even some money...since the money is not technically yours.
I consider the annuity a form of "tax return".
Like I said: CPF is sunk cost. Whatever you can get back, grab as much as you can as quick as you can.
Then forget it and get on with the rest of your life.
/// A blogger b said that the CPF fund is for retirement and not meant for a rainy day. ///
Millionaire PAP Ministers can never understand.
For Singaporeans, retirement is a rainy day.
What rainy day fund?
With the scorching weather in Sin, it will be burnt fund, the fund contributors turned to ashes and his/her contribution is as good as vapourised as far as he/she is concerned. It will not be his or hers to spend.
Redbean, retirement fund now means the money is retired, not the person who contributed the money.
Therefore, let the money enjoy it's retirement in peace. There is nothing we can do about it.
Neven watch world cup? is the goal post keep shifting? can the players play properly if the goal posts keep shifting? will the game be interesting if the goal posts keep changing?
The gov can suka suka shift the goal post because they can. The only way is to have a force to stop them from shifting the goal post as and when they feel like it. That force is stop voting for the pigs. May the force be with the voters.
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