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Coffeeshop Chit Chat - CPF Life Is A Big Let Down</TD><TD id=msgunetc noWrap align=right>
Subscribe </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><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>ckmpd <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>5:11 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 17) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>17295.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>The pap spoke so much abt giving an annuity for life for singaporeans. What GKY came out with yesterday was a great disappointment. It is tantamount to another con job to rip off the average singaporeans. The rich and powerful doesnt need CPF annuity. It's the average singaporean who is stretched and not investment savvy who needs an income for life to protect them from the vagaries of financial turmoils and crises.
most finance and insurance companies can tell you how much they can guarantee youfor life on a fixed investment. for eg...XXX finance company can contract that it will pay you $yyy every month for life for $100k premium. That will guarantee a person an $yyy income for life. Why cant CPF Borad do likewise.
GKY said that he can guarantee an income for life. That is not acceptable. $10 per month is also an income. I see CPF Life as a hot potato and tool which can be abused by the govt at the expense of the average singaporean.
What I am afraid is that the pap will put in their running dogs who are not financially qualified in CPF Board to reward them for their pro pap stance. when the investment climate is good, they will pay minimal annuity to the policy holders and take the large chunk as management fee and say that the Managemnet Team has done well and reward itself handsomely. When the financial situation is bad they will still take the managemnet fee and leave the crumps to the CPF depositors and pay them peanuts for their annuities.
To say that CPF Life is a letdown is mild. It can turn out to be a big scam
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most finance and insurance companies can tell you how much they can guarantee youfor life on a fixed investment. for eg...XXX finance company can contract that it will pay you $yyy every month for life for $100k premium. That will guarantee a person an $yyy income for life. Why cant CPF Borad do likewise.
GKY said that he can guarantee an income for life. That is not acceptable. $10 per month is also an income. I see CPF Life as a hot potato and tool which can be abused by the govt at the expense of the average singaporean.
What I am afraid is that the pap will put in their running dogs who are not financially qualified in CPF Board to reward them for their pro pap stance. when the investment climate is good, they will pay minimal annuity to the policy holders and take the large chunk as management fee and say that the Managemnet Team has done well and reward itself handsomely. When the financial situation is bad they will still take the managemnet fee and leave the crumps to the CPF depositors and pay them peanuts for their annuities.
To say that CPF Life is a letdown is mild. It can turn out to be a big scam
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