Re: Five more charged in SLA Cheating case. LKY, u say S'pore got no graft what? Liar
Hey how come if CPF is bankcrupt, and I have hearing this since the time CPF was set up, my grandfather, grandmother, grand aunts, grand uncles, fathers, mothers, aunts and uncles of neighbours got their CPF back at the age of 55? And they are not related to LKY PAP or are PAP members.
In fact some of them had voted for the opposition candidiates because they were a smooth takers or were more good looking than PAP members.
Does a bankrupt institutions got so much money to pay?
CPF works like a Ponzi scheme.
The closer you are to the top of the pyramid, the more likely you'll l get their funds back. Your older relatives are the lucky ones. While you are less fortunate being closer to the base.
With Sporeans being replaced by foreigners, very little new $$$ is being brought in to replenish the CPF funds. Foreigners are also allowed to withdraw their contribution, so their funds are not captive. Majority will eventually go back home with their $$$.
Look at who is still running Temasek, the useless madam Ho who's lost billions. The exact amount must be humungous as it is a state secret. It's no secret that Temasek has been dipping into the CPF pot. Expect more of the same, high pay, losses ,....
Why do you think they are increasing the withdrawal age & converting the CPF into an annuity