The first was a statement jointly issued by the late Lee Kuan Yew and ESM Goh in 2011: “The younger team must always have in mind the interests of the older generation. This generation who has contributed to Singapore must be well-looked after.” Minister Heng says that this was a principle that he continues to be guided by....
Meanwhile, some 17km away from the Hotel Miramar where the PAP event took place, Secretary-General of the SDP Dr. Chee Soon Juan was at a coffeeshop at Bukit Batok West Avenue 6 last to chat with residents. Sharing a picture on his Facebook page, he shared 2 stories of the lives of residents in their 60s.
The first had around $247k in his CPF after working for 42 years. He would not withdraw the monies and retire as he wanted, as these funds were locked up. Another resident was unable to work because of an illness; he thus wrote to the CPF Board to release him some funds for his sustenance but this was declined. As a result, he had to seek help from charity organisations and his family even had to cut down their meals to twice a day.
Dr. Chee then concluded that these were cases of “Ordinary Singaporeans playing by the rules, paying their taxes but ending up after a lifetime of work unable to live in security. They face a government callous to their hardship, impervious to their pleas.”
The above is quoted from an Editorial piece in TRE title 'A tale of 2 politicians'. In both cases the govt is very caring. For the seniors in general, there are many schemes to lower the cost of living like Pioneer Generation, cheaper transport fares, discounts here and there.
In the second case, the seniors that cannot touch their CPF money, what $247k, they are be very grateful to the govt for protecting their life savings. If the govt did not lock their money up, they would soon spent until nothing left. Some would go to Batam to enjoy life that only money can buy and then return home with pockets emptied. See, now they may complain that they have money only printed in CPF statements but cannot touch, but they can still smile and appreciate the money stated as belonging to them, with many zeros.
These seniors just did not know how good the govt is to them. Luckily only a few will not appreciate this. Many really do and many would vote the PAP to power again in the next GE to protect their money so that the money would forever be there in their CPF accounts, even after they die. No where in the world would a govt care so much for the seniors to keep their money under high security vault, would not be stolen, would not be lost.
And while they feel so comforted and secure with so much money in their CPF, money that would make them very rich in third world countries, they can continue to work till they die as table cleaners in the food courts.
Be thankful, be grateful. Got money in the CPF is better than no money in the CPF right? And the money earns higher interest rates some more. The only other organisation or bean that can give higher interest than CPF is redbean. Anyone wants to keep his life savings with redbean, 10% interest, but cannot take back, will be kept in perpetuity? You can only see the monthly statements that showed how fast the money is ballooning with the high interest rate and be very happy ever after.