Laurence Lien on CPF - No transparency!

frenchbriefs said:

wtf does that even mean?they want to increase minimum sum till it reaches 120,000 in 2015,but not just the number 120,000,it has to be the equivalent of 120000 in 2003 in 2015....wow amazing!!!!!

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These are such small amounts I can't understand why everyone is arguing over such a trivial issue.

Whether it's $80,000 or $180,000, it doesn't make a dent in the outcomes.

Only when you start comparing $80,000 with $800,000 do you start to see a difference.

laurence lien is basically saying cpf policies are great and correctly adjusted over time. his only beef is with the communication process of policy adjustments to clueless sinkies masterfully disguised in his essay as lack of transparency, and even that the message is "clear" except that sinkies are too daft and deficient in grey matter to understand the intricacies and complexities of micro kabuki dance moves that have to taken to avoid potentially painful macro issues.

thanks to scroobal and kingrant for re-affirming the greatness and efficacy of the cpf system.

cpf is still da bestest for daft sinkies.

Leongsam said:

These are such small amounts I can't understand why everyone is arguing over such a trivial issue.

Whether it's $80,000 or $180,000, it doesn't make a dent in the outcomes.

Only when you start comparing $80,000 with $800,000 do you start to see a difference.

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it's like corruption, first it started with 50cts, then it rose to security guard asking aunty for $10, ICA officer asking for free bj, and eventually it gets so big that, every little thing counts.

so as a civil minded person, it is our duty to tell the gahment, MYOB, just return the moola. they can spend quality time to solving real issues like how to fleece those newly minted citizens.

"The strength of the system is we have assets that exceed our liabilities, that enable us to meet our commitments. And that’s why we’re not just triple-A-rated, but we’re able to provide CPF members with a very fair return on a guaranteed basis."

"The Government takes the risk that the performance of the GIC from year to year, sometimes even over five-year periods, may not be adequate for it to meet commitments to the CPF."

"Over the last 5 years it (GIC) earned 0.5% in S$ terms, over the last 10 years it earned 5.0% in S$ terms, over the last 20 years it earned 5.0% in S$ terms." - DPM Tharman

My guess about the buffer and its symbiotic relation with CPF is correct. This buffer had been used to meet CPF commitments for as long as 5-year periods. (Probably 1998~2003 and 2007~2011). However, the government should not be so obsessed with reserves and AAA-rating that it squeezes the people.

The returns of GIC are not impressive and negative for many years. Even less impressive if not for changes to CPF and holding out paper losses. But the welfare of the people should come first, not the performance indicator of the government.

People like Leong SH should stop making stupenduous claims on GIC returns. People who call for the total scrapping of GST are off the mark.

frenchbriefs said:

u know the bullshit is strong when they say this.....

wtf does that even mean?they want to increase minimum sum till it reaches 120,000 in 2015,but not just the number 120,000,it has to be the equivalent of 120000 in 2003 in 2015....wow amazing!!!!!

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hee hee ... might as well say the minimum sum is pegged to the price of C200 avantgarde at particular time

Leongsam said:

These are such small amounts I can't understand why everyone is arguing over such a trivial issue.

Whether it's $80,000 or $180,000, it doesn't make a dent in the outcomes.

Only when you start comparing $80,000 with $800,000 do you start to see a difference.

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rubbish the first 80k is the most critical,it is the most utilized.it can make or break a country.if u increase the household credit card debt in america by 40k each,that is trillions....the interest is huge....we talking economies of scale here.in australia and nz,80k can mean life or death,it can mean sleeping under the expressway on old filthy blankets and shopping trolleys surrounded by beer bottles and empty mcdonalds bags.

frenchbriefs said:

rubbish the first 80k is the most critical,it is the most utilized.it can make or break a country.if u increase the household credit card debt in america by 40k each,that is trillions....the interest is huge....we talking economies of scale here.in australia and nz,80k can mean life or death,it can mean sleeping under the expressway on old filthy blankets and shopping trolleys surrounded by beer bottles and empty mcdonalds bags.

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80k or 180k makes no difference to an individual. It may be a bit more than a derisory but it's still peanuts.

He is chiding the govt in the most polite language he can find.
Compare with the way he writes, the way he speaks with the likes of Boy Scout Chuan Jin, Toy Soldier Chun Seng, his comptemporaries and it is very obvious that the PAP has scraped the barrels to find their candidates.

Walau eh.. once someone starts using a more diplomatic language to criticise the same things we are all ranting about, he gets accused of being pro-estab and dismissed.

You know how fawning the ST is..agree with Scroobal that if he had used language and tones that we used here, his letter will never see the light.

Look, Laurence Lien couldnt have put across his points any better. Go read it over again. One must be able to hantam this govt until it still didnt know it is being hantam, or insult someone without him even realising it. Thing is to get yr points across, and even if we dont get it, the PAP idiots will.