winnipegjets, Open your eyes and read before you even reply. Did i mentioned in my statement saying that he's being sentenced already???
I would suggest that you need to re-read your earlier post. You stated that Roy was defamatory. Are you the judge?
Oh, CPF supposed to be a retirement fund???? Since during the 80s, I remembered Singaporeans are using CPF to pay for their housing already. So if you are currently staying in a HDB, are you paying your monthly installment thru CPF or did you ever used your CPF ordinary account to pay for your HDB?
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.
I think you've an understanding problem here and you're just jumping in to bark for the sake of it.... The profit that many Singaporeans made from their HDB is something that they need not to fork out any cash upfront and making a handsome profit few years down the road....
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.
Please go n do some research before you even bark.... HK adopted to CPF scheme and admit that they copy this policy from SG govt....
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?
So you mean retirement can be comfortable for those old folks to sleep along the street and you call it an enjoyment??? Look at the Germans? Why not look at China or Asia. Why do you have to turn yourself into a yellow banana and how much you understand about the European lifestyle.
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.
Please.... Don't keep repeating the same old nonsense or excuse of "fight on" and etc.... If people like you are fighting it out with the govt, you wouldn't be just hiding behind the computer to swear at the govt.... You can't even hold a candle to those indians who riot at Little India....
Same sentence for you, ask your oppo gangs to come up with something new as well.... I've been in this forum for more than 12 mths and apart from all your coward acts, i can see nothing!!!
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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.
