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- Jul 24, 2008
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Coffeeshop Chit Chat - CPF Life_dont get conned!</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>ACDC110v <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>8:23 am </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>32863.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>CPF come out with this CPF Life. Another scheme to hold your money back?
2 of my friend all joined up becos they were told they can get abt $1K from CPF if they sign up. Wow, so good ah?
They sure know how to make sure we wont get out our CPF money. One put sign up for $100K!
A friend aged 55 downgrade his flat and with his equal contribution with hios wife, he tot he could get his equal share and then buy a private property for investment. To his surprise, CPF did not apportion the sale proceed to him but instead CPF took from the proceed to paid back to his wife CPF account, that is to pay all the CPF loan which his wife used from the CPF but not to his CPF account as CPF claimed that since he is over 55, so it not neccessary. Only the leftover cash will return back to them.
As we know, if both of them were under 55, the sale proceed would not be able to pay back their CPF loan as the CPF loan includes the HDB loan which include HDB intrest plus CPF interest ( interest that would have earned if they did not use the CPF loan). These alway come to a large amount and mostly higher than the sale proceed. But if this happened, CPF will just apportion the sale proceed and transfer it to their CPF account. But this is not so if one of them is over 55. CPF told my friend whose age over 55 that as long as CPF got his minimum sum in his CPF acoount, the sale proceed should go to his wife (under 55) account first and the leftover will be left to them to decide! Thus my friend lost a great part of his contribution to his wife CPF account which cannot be taken out as she is below 55.
He written to Manpower minister but he push it to CPF. The CPF manager said that as long as he is over 55 and CPF got his minimum sum, they will not apportion his share of contribution back to his CPF. Then my friend claimed he then should get his apportioned share in cash but CPF reject saying that the sale proceed shoulsd satisfy all his wife CPF contribution first. when press further, she claim it's the company policy. When he wrote to the CPF Director, it's the same only this time it's not company policy but the law!
He then wrote to the Manpower Minister Gan with all the correspondence and the Minister never reply to his email! What a F**K! KNN, elderly's money also wanna control... My friend dunno what to do now..
I told my friend to write to the Minister every day till he reply and ask him to tell everybody and tell them to vote PAP out! In Chinese saying, such "coffin money" also wanna cheat...curse these f**king people and their family!!
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2 of my friend all joined up becos they were told they can get abt $1K from CPF if they sign up. Wow, so good ah?
They sure know how to make sure we wont get out our CPF money. One put sign up for $100K!
A friend aged 55 downgrade his flat and with his equal contribution with hios wife, he tot he could get his equal share and then buy a private property for investment. To his surprise, CPF did not apportion the sale proceed to him but instead CPF took from the proceed to paid back to his wife CPF account, that is to pay all the CPF loan which his wife used from the CPF but not to his CPF account as CPF claimed that since he is over 55, so it not neccessary. Only the leftover cash will return back to them.
As we know, if both of them were under 55, the sale proceed would not be able to pay back their CPF loan as the CPF loan includes the HDB loan which include HDB intrest plus CPF interest ( interest that would have earned if they did not use the CPF loan). These alway come to a large amount and mostly higher than the sale proceed. But if this happened, CPF will just apportion the sale proceed and transfer it to their CPF account. But this is not so if one of them is over 55. CPF told my friend whose age over 55 that as long as CPF got his minimum sum in his CPF acoount, the sale proceed should go to his wife (under 55) account first and the leftover will be left to them to decide! Thus my friend lost a great part of his contribution to his wife CPF account which cannot be taken out as she is below 55.
He written to Manpower minister but he push it to CPF. The CPF manager said that as long as he is over 55 and CPF got his minimum sum, they will not apportion his share of contribution back to his CPF. Then my friend claimed he then should get his apportioned share in cash but CPF reject saying that the sale proceed shoulsd satisfy all his wife CPF contribution first. when press further, she claim it's the company policy. When he wrote to the CPF Director, it's the same only this time it's not company policy but the law!
He then wrote to the Manpower Minister Gan with all the correspondence and the Minister never reply to his email! What a F**K! KNN, elderly's money also wanna control... My friend dunno what to do now..
I told my friend to write to the Minister every day till he reply and ask him to tell everybody and tell them to vote PAP out! In Chinese saying, such "coffin money" also wanna cheat...curse these f**king people and their family!!
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