70% of Singaporeans don't meet the minimum sum? CPF board clearly can see this. That did not stop them from increase the amount to an even more insane level. Vote PAP and you will be fucked so hard during retirement, you had better learn how to fold boxes now
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How our CPF Ponzi scheme will end in tears for CPF members
- Thread starter xingguy
- Start date
Source: TR EMERITUS
PAP reviewing the CPF Scheme?
December 20th, 2014 | Author: Contributions
"So I think we are looking at perhaps various options available
and then tied to those options with the differing amounts that
you need to accumulate," he said. "We realised that that's the
thing because actually people do have different needs and
people are looking at different requirements. So would there be
a basis upon which we look at how this CPF could be structured?"
The CPF Scheme is a damn good saving scheme gone wrong. If the scheme had not been subjected to so many abuses and misuses, today the retirees would be smiling in contentment in their twilight years, living off the savings they have set aside for a life time of work and toil. We are about the biggest savers as a people, saving as much as 50% of our income for retirement. How could this be not enough? How could this, with other savings, be not enough for our retirement?
Anyone wants to know why? Now, Chuan Jin is going to review the CPF Minimum Sums to make it more flexible as the govt suddenly realized that not everyone has the same need or money problem. So a lot of efforts and resources will be devoted to make Minimum Sum more flexible, designed to the needs of different groups of individuals.
Is this not pathetic? One of the greatest and bestest saving schemes in trouble, money not enough! Anyone wants to know why money not enough? Think HDB prices. Anyone wants to scratch the pimples when the system is cancerous? Anyone wants to know what is the cause of the cancer?
This is like the Stock Exchange, nothing is wrong, very fine. Just massage the little thing, and all is fine. Why is everyone buying pimple creams when the body is dying of cancer?
If the hole is so big, no matter how much is put into the savings, nothing much will be left if the hole is not patched. The tweaking of the Minimum Sum which is not the problem but a symptom of how nonsensical the CPF Scheme has become is but just a diversion.
Deal with the real problems and causes that are eating away at the people’s savings. There should not be any minimum sums schemes at all. Return the money to the people as it was intended when the Scheme was first conceived. The CPF savings are the people’s money and it must be returned to the rightful owners, nothing less.
Chua Chin Leng aka redbean
* The writer blogs at http://mysingaporenews.blogspot.com
PAP reviewing the CPF Scheme?
December 20th, 2014 | Author: Contributions
"So I think we are looking at perhaps various options available
and then tied to those options with the differing amounts that
you need to accumulate," he said. "We realised that that's the
thing because actually people do have different needs and
people are looking at different requirements. So would there be
a basis upon which we look at how this CPF could be structured?"
The CPF Scheme is a damn good saving scheme gone wrong. If the scheme had not been subjected to so many abuses and misuses, today the retirees would be smiling in contentment in their twilight years, living off the savings they have set aside for a life time of work and toil. We are about the biggest savers as a people, saving as much as 50% of our income for retirement. How could this be not enough? How could this, with other savings, be not enough for our retirement?
Anyone wants to know why? Now, Chuan Jin is going to review the CPF Minimum Sums to make it more flexible as the govt suddenly realized that not everyone has the same need or money problem. So a lot of efforts and resources will be devoted to make Minimum Sum more flexible, designed to the needs of different groups of individuals.
Is this not pathetic? One of the greatest and bestest saving schemes in trouble, money not enough! Anyone wants to know why money not enough? Think HDB prices. Anyone wants to scratch the pimples when the system is cancerous? Anyone wants to know what is the cause of the cancer?
This is like the Stock Exchange, nothing is wrong, very fine. Just massage the little thing, and all is fine. Why is everyone buying pimple creams when the body is dying of cancer?
If the hole is so big, no matter how much is put into the savings, nothing much will be left if the hole is not patched. The tweaking of the Minimum Sum which is not the problem but a symptom of how nonsensical the CPF Scheme has become is but just a diversion.
Deal with the real problems and causes that are eating away at the people’s savings. There should not be any minimum sums schemes at all. Return the money to the people as it was intended when the Scheme was first conceived. The CPF savings are the people’s money and it must be returned to the rightful owners, nothing less.
Chua Chin Leng aka redbean
* The writer blogs at http://mysingaporenews.blogspot.com
End Of Article
High returns? Dun make us laugh.
It looks good compared to the less than 1% interest one gets from fixed deposit over the years. This fixed deposit interest was deliberately suppressed by MAS so that CPF interest will look good at 2 to 4%, with conditions some more. But CPF then becomes a VERY CHEAP SOURCE OF FUND for the GIC and TH, which report roaring performance each year, but only paltry pitiful 2 to 4% returned back to CPF members. Where did the rest of the interest go to? The fund money belongs entirely to the members, so why shouldn't it be given the entire returns? The 2 to 4% interest returns cannot even negate the inflation, hence the CPF fund shrinks by the years for the members. So, what is so guaranteed if the true value of the fund depletes over the years, compounded? The only guarantee is that the CPF fund of the members get depleted over the years. Bravo! Well done! KNN!
It looks good compared to the less than 1% interest one gets from fixed deposit over the years. This fixed deposit interest was deliberately suppressed by MAS so that CPF interest will look good at 2 to 4%, with conditions some more. But CPF then becomes a VERY CHEAP SOURCE OF FUND for the GIC and TH, which report roaring performance each year, but only paltry pitiful 2 to 4% returned back to CPF members. Where did the rest of the interest go to? The fund money belongs entirely to the members, so why shouldn't it be given the entire returns? The 2 to 4% interest returns cannot even negate the inflation, hence the CPF fund shrinks by the years for the members. So, what is so guaranteed if the true value of the fund depletes over the years, compounded? The only guarantee is that the CPF fund of the members get depleted over the years. Bravo! Well done! KNN!
Not just end with tears, it also ended with blood stain all over the island and worst blood stain in the ass after getting screwed deep deep.
I think Singaporeans had better get straight to the point . In spite of saving close to 50 % of their salaries over their working lives, they cannot retire? Only the elites can retire . But elites never retire because they draw big money just by breathing. These are not people who created businesses, innovations or major ideas. However they sit there and mock the people saying " See I am still working, why shouldn't you".
The government needs to solve the retirement issue not the CPF issue. Period. And by the way, say a prayer for RN.
A typical reply from a Ball-less sinkie shit.. This kind of thing will call for a massive Street protest. Not talk cock and shred tears in a bullshit forum.. Oh my god.. I am right to stay away from sinkies.
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