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Coffeeshop Chit Chat - Pinky Loong & his baiting CPF up 1%</TD><TD id=msgunetc noWrap align=right></TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>Fkapore <NOBR></NOBR></TD><TD class=msgDate width="30%" noWrap align=right>3:06 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right>(1 of 3) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"></TD><TD class=wintiny noWrap align=right>32541.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Employers’ CPF contribution to increase by 1 percent
May 1st, 2010 |
Author: Your Correspondent
In a sign that the next general election is looming near, Prime Minister Lee Hsien Loong announced today during his May Day Rally that the employers’ CPF contribution will be increased by one percent to “sweeten” the ground.
The increase will occur in two stages – 0.5 percent in September this year into the Medisave Account and 0.5 percent in the Special Account next year March.
=> And even then, it needs to come in 2 instalments over 1 year and basicall goes to the Familee coffer to up its Punting Fund! Wow! Isn't that GREAT? Should you wretched peasants feel honoured?
The paltry increase is of scant consolation to Singaporeans whose wages are lagging behind that of inflation, especially that of public housing.
As most Singaporeans use their CPF ordinary account to finance their HDB flats, the 1 percent increase in the Medisave and Special accounts will be of little use in assisting them in paying the housing loans.
PM Lee claimed that CPF is “fundamental” to Singapore’s system of social safety nets since it gives each Singaporean a saving accounts to meet the housing, medical and retirement needs for himself and his family.
“With wages rising, we should take the chance to raise CPF contribution,” he was quoted as saying in the Straits Times.
With the bulk of Singaporeans’ CPF tied up in their housing loans, many have few savings left to support themselves financially during their twilight years.
Though Singapore has one of the highest GDP per capita income in the world, its citizens enjoy few social welfare benefits from the PAP government.
Singaporeans are constantly exhorted by PAP leaders to work for as long as possible while remaining “cheaper, faster and better” at the same time to compete directly with the hordes of cheap foreign workers brought in by the PAP.
The meager increase in the employers’ CPF contributions are unlikely to improve the lives of ordinary Singaporeans in the long run.
Not many Singaporean has that much money in their CPF account like PAP minister Lim Swee Say who once boasted that he “feels very rich” whenever he checks his CPF account.
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In a sign that the next general election is looming near, Prime Minister Lee Hsien Loong announced today during his May Day Rally that the employers’ CPF contribution will be increased by one percent to “sweeten” the ground.
The increase will occur in two stages – 0.5 percent in September this year into the Medisave Account and 0.5 percent in the Special Account next year March.
=> And even then, it needs to come in 2 instalments over 1 year and basicall goes to the Familee coffer to up its Punting Fund! Wow! Isn't that GREAT? Should you wretched peasants feel honoured?
The paltry increase is of scant consolation to Singaporeans whose wages are lagging behind that of inflation, especially that of public housing.
As most Singaporeans use their CPF ordinary account to finance their HDB flats, the 1 percent increase in the Medisave and Special accounts will be of little use in assisting them in paying the housing loans.
PM Lee claimed that CPF is “fundamental” to Singapore’s system of social safety nets since it gives each Singaporean a saving accounts to meet the housing, medical and retirement needs for himself and his family.
“With wages rising, we should take the chance to raise CPF contribution,” he was quoted as saying in the Straits Times.
With the bulk of Singaporeans’ CPF tied up in their housing loans, many have few savings left to support themselves financially during their twilight years.
Though Singapore has one of the highest GDP per capita income in the world, its citizens enjoy few social welfare benefits from the PAP government.
Singaporeans are constantly exhorted by PAP leaders to work for as long as possible while remaining “cheaper, faster and better” at the same time to compete directly with the hordes of cheap foreign workers brought in by the PAP.
The meager increase in the employers’ CPF contributions are unlikely to improve the lives of ordinary Singaporeans in the long run.
Not many Singaporean has that much money in their CPF account like PAP minister Lim Swee Say who once boasted that he “feels very rich” whenever he checks his CPF account.
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