CPF!!! Good Or Bad???

[HK14K]

woi, fat arse, why not respond to me?

Oh, so sorry tanwahtiu.... I'm not as free as you're to sit infront of the PC n logged onto a forum and be a coward 24 hours a day.... Also dun advertise to us that your mother is a fat arse, which i dun think anyone is interested in your fat arse mother.... Thank you :p

Talking about the CPF. Yes, CPF is everyone's hard earn money. But the problem here now is losers like you are claiming that the govt have cheated your so call miserable money. My point here is if the PAPs have cheated your monies, are you able to purchased a HDB without paying cash upfront???

If the PAPs have cheated your money, they could have jolly well and said you have to pay using cash to purchase HDBs just like China. But they didn't. They allow losers like you to make upfront payment with CPFs, and after you sell off your HDBs, whatever the sum that is deducted from your CPF will goes back to it and the remaining cash is your profit.

By the way, please also show me the link which country govt says that SG policies n infrastructure are bad.... Don't tried n play words with me and say find the link. Since the 90s, even before 97, HK have admitted there would like to learn from SG in many ways. CPF is just one of them. Just like China, they also did claimed to learn the CPF system from SG in order for their citizens to afford housing n healthcare.

If SG policies are as bad as you think. Why in the world does so many foreigners wanting to migrate to SG??? Even the chinese tells me that the healthcare, education and etc is so much better than China which is why all those super-wealthy chinese are migrating to SG...

You talk about equity... Walk into any banks and say you wanna buy an equity without forking out cash with a guarantee of profit without lost and see who can do it for you!!!

Talk using your brains n not your ballz or dick... Oh, i forgot losers like you are borned without ballz which is why you can only hide behind a PCs to complaint n complaint with no ending....

 

[HK14K]

Why the need to put 3 uses in a fund that is supposed to be for retirement? I contend that it is obfuscate and hide malfeasance in the administration of the retirement funds.

As I said.... I'm glad that SG are not run by blind people like you!!!

You mean the govt have to set up 3 different funds for 3 different purposes???? Maybe you like to take off your pants to fart!!! LOL....

 

[HK14K]

I would suggest that you need to re-read your earlier post. You stated that Roy was defamatory. Are you the judge?



CPF started out to be solely for retirement. Then it was used for other purposes? Why? Because CPF could not support withdrawal, so using the retirement fund for housing would reduce the withdrawal quantum. Of course, now we see that the housing use has become a money making mechanism for the government - giving us the most expensive social housing in the world - thus, reducing the retirement amount even more. Throw in the minimum sum requirement, the government will never face a credit crunch to fund withdrawal.


You don't use your retirement savings for speculation. Property prices go up and it goes down. And it takes a long time for property prices to go up if you buy at the high.



The onus of proof is on you. Name me a developed economy that has copied the CPF scheme? Such stealing of the people's money will not be tolerated ...the government would be turfed out.
You cite Hong Kong ...are you aware that HK did not have any pension plan for the people prior to introduction of this national savings plan. Now, tell me is the HK pension fund paying interest rate lower than the inflation rate?


The Europeans know how to live decently. Look at the Scandinavian countries. So, what's wrong with the Germans?
China and Asia are looking to the West for ideas.



[
What's your point here? If you have nothing to add, just don't say anything. You will look smarter that way than to blare out nonsense.

Since PAP IB are just useless bums ...living of taxpayer's money ...let me help you with some research

http://www.gov.hk/en/about/abouthk/factsheets/docs/mpf.pdf

The HK Mandatory Pension Fund requires only FIVE percent contribution ...FIVE percent.

And it is a defined contribution plan ...contributors will invest their money from a set of approved unit trusts. That's why the contributors don't kpkb because they get good returns from their investment.

Come on loser winnie... Don't tried to play words with me.... My initial post was " a boy rose to the occasion by claiming SG PM misappropriate" CPF funds. In your post #5, your 1st sentence was " is it proven" n now you twist n turn your words to "defamatory".... Yes, maybe i'm not the judge but if it's not defamatory, would LHL sent a lawyer letter to this boy??? Use your ass to think if your mum did not give you brains for it before even you tried to play words with me which you'll failed badly...

CPF started in 1955 during the British colonial times.... Is not started by the PAPs... The govt only continues it becoz they see the positives in it. And you keep mentioning retirement. What is retirement??? To sleep along the streets n beg for food??? Or What??? And how do you know that the CPF board can't support withdrawal???

You can tried leaving SG permanently and see whether the CPF board can pay you in full or not??? No one is stopping you to withdraw your CPF in full. There's a form inside the CPF building which you can fill it up and withdraw in full.

Are you sure the HDBs are the most expensive in the world??? Tried HK 公屋 before you even fart here.... And I'm not talking about those mid-levels apartment in HK, i'm just talking about 公屋 which is similar to SG HDBs....

The govt uses HDB to be a money making mechanism??? Ain't each n every Singaporeans doing that as well including yourself or your family....

Retirement savings... If the govt allow people to withdraw in full like in the past. And when they spent dried their money, who's the one to take care of them??? Are you the one to take care of them??? And losers like you will once again jump into a forum n complaint that the govt dun take care of retired people in SG.... Tonnes of excuses!!!

I dun have to prood anything to losers like you. HK citizens that are not working can claimed allowance from govt but many chose not to. If SG adopt the same system as HK which follows the British, I think many of you here will say that the SG govt is wasting tax payers money again. And why not you named me how the Germans, Swiss or Americans buy their houses and what is the percentage of Americans own a house in their own country....

You cited the Germans to rocket sky high, first of all why dun you move on to stay in Germany instead of SG. By moving on, you can withdraw you CPF in full and you can have your dream come true in your dream country.

Instead of claiming that i've nothing to add, you may wanna look yourself into a pool of your own urine and ask why are you making so much noise here when you are claiming that Germany or the West are so much better for you. If you chose to move on, you can withdraw your CPF in full n live in your ideal country which is a win win situation for you.

I really pity SG opposition parties having IBs and dumb fool supporters like you. No wonder even LTK looks like a mice when he cross swords with LHL....

 

[HK14K]

What's your point here? If you have nothing to add, just don't say anything. You will look smarter that way than to blare out nonsense.

Since PAP IB are just useless bums ...living of taxpayer's money ...let me help you with some research

http://www.gov.hk/en/about/abouthk/factsheets/docs/mpf.pdf

The HK Mandatory Pension Fund requires only FIVE percent contribution ...FIVE percent.

And it is a defined contribution plan ...contributors will invest their money from a set of approved unit trusts. That's why the contributors don't kpkb because they get good returns from their investment.

Oh.... I almost forgot to ask you log onto www.mpfa.org.hk to take a look.... Ain't HK a developed city???

Singapore call it Central Provident Fund and HK call it Mandatory Provident Fund....

If you're a useful bum to your oppo party, go n take a look at MPFA and their history!!!

 

[HK14K]

TS is a fucking troll....check out his history.

And what about you???? A child that was born by a street whore???

Where's all your gangster stuff to me??? I'm still waiting.... I think your history of boasting like many others in this forum is more interesting than mine!!!

 

[sleaguepunter]

paiseh, one 公屋 flat how much? size equal to hdb rental flat?

cpf is a good scheme and i think most ppl are barking up the wrong tree. The problem is not the ever increasing minimium sum although i prefer the MS to increase at smaller rate. The real problem is the ever increasing property prices which make it difficult to accummulate the OA account. not everyone make profit thru hdb sale and many are still living in the one and only flat.

but personally i think shd just increase the draw out age to 60yo instead of 55yo, not everyone can live to 85. i seriously dun care what cpf can help me when i 85, i strongly believe the logic of having one bird in my hand is worth more than 2 birds in the bush. if ppl can still mess up at 60yo, then they deserve to suffer lor.

 

[HK14K]

paiseh, one 公屋 flat how much? size equal to hdb rental flat?

cpf is a good scheme and i think most ppl are barking up the wrong tree. The problem is not the ever increasing minimium sum although i prefer the MS to increase at smaller rate. The real problem is the ever increasing property prices which make it difficult to accummulate the OA account. not everyone make profit thru hdb sale and many are still living in the one and only flat.

but personally i think shd just increase the draw out age to 60yo instead of 55yo, not everyone can live to 85. i seriously dun care what cpf can help me when i 85, i strongly believe the logic of having one bird in my hand is worth more than 2 birds in the bush. if ppl can still mess up at 60yo, then they deserve to suffer lor.

No offence, but go n check it out on the HDB website how much a 2-room cost in Punggol area or a 2-room cost in Queenstown and compare to those in HK after exchange rates. Those 2-rooms cost only slightly more than 100kSGD before grants in punggol and 2-rooms in Queenstown cost ard $245k SGD before grant at the highest level of 30 storey not to mention about 3-5 rooms flat.

Actually my point here is simple. If one think CPF is a bad scheme then dun contribute, I cease contribution for 12 years coz I understand the money can only be used for HDB and partial healthcare. It's not useful for any private apartments or whatsoever so I ceased. I dun have to complaint till the cows come home.

Alternatively, those dumb n retarded fools can withdraw their CPF in full without hesitation. The forms can be easily found in CPF building located at Tanjong Pagar. Why so much noise without actions???

 

[sleaguepunter]

No offence, but go n check it out on the HDB website how much a 2-room cost in Punggol area or a 2-room cost in Queenstown and compare to those in HK after exchange rates. Those 2-rooms cost only slightly more than 100kSGD before grants in punggol and 2-rooms in Queenstown cost ard $245k SGD before grant at the highest level of 30 storey not to mention about 3-5 rooms flat.

Actually my point here is simple. If one think CPF is a bad scheme then dun contribute, I cease contribution for 12 years coz I understand the money can only be used for HDB and partial healthcare. It's not useful for any private apartments or whatsoever so I ceased. I dun have to complaint till the cows come home.

Alternatively, those dumb n retarded fools can withdraw their CPF in full without hesitation. The forms can be easily found in CPF building located at Tanjong Pagar. Why so much noise without actions???

i know hdb 2roomer cost but i dunno HK 公屋 price and size to compare. so 公屋 estates in ulu location?

btw, a 4rm BTO at bedok cost ard $500k, that $545psf. at $500k, that a lot of money for a young couple with only diploma level, dun u think? how to accumlate $$ in cpf like that? sigh...

As for dun contribute, it not easy as it against the law for local employers and employees not to pay cpf. pls dont use be towkay ownself as not everyone can and want to be towkay.

 

[winnipegjets]

No offence, but go n check it out on the HDB website how much a 2-room cost in Punggol area or a 2-room cost in Queenstown and compare to those in HK after exchange rates. Those 2-rooms cost only slightly more than 100kSGD before grants in punggol and 2-rooms in Queenstown cost ard $245k SGD before grant at the highest level of 30 storey not to mention about 3-5 rooms flat.

Why compare with HK where the property market is like a casino? Sinkapore has followed HK in this regard, using foreign buyers to manipulate the price so that the government can make more dough.
Sinkapore has the most expensive social housing in the world ...can you dispute that?

Actually my point here is simple. If one think CPF is a bad scheme then dun contribute, I cease contribution for 12 years coz I understand the money can only be used for HDB and partial healthcare. It's not useful for any private apartments or whatsoever so I ceased. I dun have to complaint till the cows come home.

Why should sinkee leave? It is their right to demand policies cater to them. The CPF has failed as a retirement scheme.

Alternatively, those dumb n retarded fools can withdraw their CPF in full without hesitation. The forms can be easily found in CPF building located at Tanjong Pagar. Why so much noise without actions???

What have you been smoking this morning? Please teach us how to withdraw the full amount of our CPF.

 

[da dick]

Chinese Pigs like you invented CPF to cheat Malays...Go fuck off to China

for once i agree with the mad mat. except you're also CHINK DNA, from xin jiang province!! dun forgot to eat your pork chocolate today!!!
anyway. another IB who never pay protection money to leong sam. shame shame. blocked!

 

[da dick]

W...


What have you been smoking this morning? Please teach us how to withdraw the full amount of our CPF.

i think he meant, get another cuntry citizenship(like china passport?), then you can renounce SG citizenship and withdraw all your CPF

 

[HK14K]

i know hdb 2roomer cost but i dunno HK 公屋 price and size to compare. so 公屋 estates in ulu location?

btw, a 4rm BTO at bedok cost ard $500k, that $545psf. at $500k, that a lot of money for a young couple with only diploma level, dun u think? how to accumlate $$ in cpf like that? sigh...

As for dun contribute, it not easy as it against the law for local employers and employees not to pay cpf. pls dont use be towkay ownself as not everyone can and want to be towkay.

First of all, I know this guy from the SOC. He purchase a 2-room unit at Queenstown area at the highest level 30 floor. Listed price was $245k before grant and after grant was about $210 approximate. If you convert to HK dollars, (app :HKD$1.2m). Even one of our HK friends say this... "你地的政府真是好 可以话系送".... 1.2 million HKD you wanna get an apartment in central area in HK??? You can only dream about it.

I know of one apartment near to 老兰 in HK island, 35 square meter you know how much asking price??? HKD 7.7million... You go n do a conversion n see how much is SGD!!!

Of course it's against the law not to contribute. I'm also not trying to be funny but look at those dumb ass who have been complaining for a year yet no actions done. One need not to be towkay, as long as you're not working in SG or SG based company posted overseas you can dun contribute.

Those who claimed that their money is cheated or the CPF board dun have the money to pay them can always ask for a full withdrawal from CPF with a price. You dun believed in it then do something.

 

[winnipegjets]

Becoz you're paying your HDB via CPF without forking out cash and can sell to make a profit and at the same time claiming that the govt is bad n lousy right???

Because the property market can tank too ...our retirement savings is not intended for property speculation.
A individual putting $10k a year into the CPF for 30 years should have at least $1.3 million based on an average of 8 percent return over the period. Instead, one gets only $450k. That's a $850k difference!
Doubt you know it ...the HK Pension generates higher return than CPF. Bet you don't know the reason.

If SG HDBs are pigeon holes, tried those in HK!!!

HK has a larger population and everyone knows than HK property market is a casino. What is your basis of comparison?

 

[winnipegjets]

First of all, I know this guy from the SOC. He purchase a 2-room unit at Queenstown area at the highest level 30 floor. Listed price was $245k before grant and after grant was about $210 approximate. If you convert to HK dollars, (app :HKD$1.2m). Even one of our HK friends say this... "你地的政府真是好 可以话系送".... 1.2 million HKD you wanna get an apartment in central area in HK??? You can only dream about it.

Comparing HK island with sinkapore, why don't you compare Manhattan with sinkapore then? You are grasping at straws, hongkee-sinkee.

 

[HK14K]

Why compare with HK where the property market is like a casino? Sinkapore has followed HK in this regard, using foreign buyers to manipulate the price so that the government can make more dough.
Sinkapore has the most expensive social housing in the world ...can you dispute that?


Why should sinkee leave? It is their right to demand policies cater to them. The CPF has failed as a retirement scheme.


What have you been smoking this morning? Please teach us how to withdraw the full amount of our CPF.

Oh.... Are you borned retard or what??? If you dun even know how to withdraw your CPF in full and yet you can still make so much noise here??? Please... go n check it out yourself since you like to post links right... go n check out at the CPF website yourself how to withdraw in full....

Why dun you ask yourself, why are you comparing SG to the west n Germany so many times???? If you can compare SG to Germany, why can't I compare SG to HK which in the world all countries agree that this 2 cities share alot in similarities....Wanna play twist n turn of words with me, play it in a smart way.... Dun use your search engine at home n talk to me about HK....

Why are you silent after I sent you the link of MPFA??? Being Dumb or what??? In the early 90s, HK have already cited that SG CPF is a scheme that they can learn n they enacted in 1995 and the MPF system was launched in year 2000... Ain't that a developed city learning from SG which rebutt on what you've mentioned earlier "which developed country learn from SG"?

Dispute what???? I've already mentioned HK housing is more expensive than SG but you're the one who dun even dare to admit it.... Typical opposition style who dun dares to admit...

If you sinkee are not leaving and have no alternative to your hated govt, then live with it!!! your demand ain't bringing you anywhere.... If the CPF is a failed retirement scheme, then it wouldn't have lasted for more than 50 years in SG since 1955.

Anyway, good try but try harder..... You have been a loser to me since day one I'm here same like eunuch escher!!!

 

[winnipegjets]

CPF is good policy. But need some changes
1. All CPF earn yearly interest rate at min gurantee 4% and +2% if 10YSGS more than 6% regardless amount in the CPF or what ever min sum gov policy.
2. Payout start at age 60 not 65 as now
3. Simplify CPF account to only OA and Medisave. Special account to be taken away.
4. Combine husband and wife account minimun sum. Meaning if one have more than min sum and the other less than min sum. So one party with extra have to top up the other partner before until both reach min sum before can withdraw.( if not there will be problem where one work and one never work).
5. Medisave can use to claim on medical fee oversea which hospital is approved by gov to prevent loophole. So Singaporean may seek medical eg. in Thailand or Malaysia which is cheaper and medisave can last longer. The bill direct bill from hospital to CPF board which have be approved 1st for any medical claim before any medical procedure. This will make hospital local to compete with oversea hospital. Competition will bring down the price and improve service.

Look at US Social Security ...they pay 5 pct to get a $2k monthly cheque (this is the max amount). The average payout is about $1300.
CPF makes you pay 20 pct and after accounting for inflation, you have actually lost money. Say you put 10k a year, over 30 years, your final total after compounding interest is $450k. If you invest this amount yourself just by buying an S&P etf, you would have net more than $1.3 million, assuming an average return of 8 pct. For the 1980 - 2013 period, the average return is 13 pct. The difference is $850k!!!!!!!

The CPF is a rip-off scheme, not one to help you save for retirement.

 

[HK14K]

i think he meant, get another cuntry citizenship(like china passport?), then you can renounce SG citizenship and withdraw all your CPF

Maybe you can tried an Arabic passport!!!

 

[winnipegjets]

In any country, the govt uses the citizens monies to build the country be it the US, Swiss or UK which you guys have keep claiming it's better than Singapore..

That's taxation which is transparent. Why can't sinkapore just use taxation?

Yes, the CPF is the people's money... But in the past did the govt allow those who reach the age of 55 or 58 to withdraw in full??? (Pardon me if i'm wrong).... And when the govt allows the people to withdraw in full, after spending it dry, those losers will blamed the govt again of not taking care those that have retired becoz of their own fault....

You use a few cases and generalize it as the outcome. Show me the numbers.

Second, which country govt is really so responsive, transparent n accountable for all issues??? The US, Swiss or the Germans??? A country leader is similar to a successful businessman, i remember Lee Ka-Shing ever said this ; "I don't have to account or explain to everyone in what I does" even though his company is a listed company...

That's why he doesn't list in the US.

 

[HK14K]

Because the property market can tank too ...our retirement savings is not intended for property speculation.
A individual putting $10k a year into the CPF for 30 years should have at least $1.3 million based on an average of 8 percent return over the period. Instead, one gets only $450k. That's a $850k difference!
Doubt you know it ...the HK Pension generates higher return than CPF. Bet you don't know the reason.



HK has a larger population and everyone knows than HK property market is a casino. What is your basis of comparison?

Then what is your basis of comparisons when you only compare the positive of HK like the HK pension generates higher interest and ignoring the HK property market.....

Please.... As i mentioned, dun tried to fool yourself and only brings out the positive of other cities or countries.... How much the Germans are paying for their taxes???

You're those typical kind who only brings out the negative to hit out on our govt and keep talking about others positives but avoiding those negatives of others just becoz you wanna make a point here that the govt is bad which is childish n ignorant of you

 

[HK14K]

Comparing HK island with sinkapore, why don't you compare Manhattan with sinkapore then? You are grasping at straws, hongkee-sinkee.

Then why are you comparing SG to Germany???? Slapping your own cheap mouth???