Shifting Goalposts - CPF down the drain

[makapaaa]

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Coffeeshop Chit Chat - Shifting Goalposts - CPF down the drain</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 cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">insens <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">8:57 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 1) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>2441.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>One of the best comments I've read about CPF
http://theonlinecitizen.com/2008/11/singaporean-57-employed-married-but-cannot-buy-hdb-flat/
30) feedmetothefish on November 12th, 2008 8.53 pm Add karma Subtract karma +0
CPF is actually a mirage!
When Mr Silvalinkam started work as a young man, they told him that he could withdraw all his CPF savings at age 55.
CPF shifted the goalposts.
They then forced him to put some in Medisave.
CPF shifted the goalposts.
They the forced him to put some in Medifund.
CPF shifted the goalposts again.
Then they told him he could not get it all out at 55.
CPF shifted the goalposts again.
The forced him put some in Minimum Sum that can be taken out at age 62.
CPF shifted the goalposts again.
Cannot take out lump sum at 62. Can only get it back in monthly instalment.
CPF shifted the goalposts again.
If he were younger, they’d force him to leave it till 67
Again, CPF shifted the goalposts.
Now poor blokes under 50 must continue to put some until 85 or death, which ever come first.
Should you die before 85, you’d lose . . . you get zilch. . unless you paid them more earlier.
Should you survive after 85, you’ll get a fraction (in monthly instalment) of what you’re forced to put it earlier.
Oh, the shifting goalposts hasn’t stop yet.
Being as old as Mr Silvalinkam, I’ve been there and done that, screwed!
Thank God, I’m too old to be sucker-punched by Longevity Noodle Annuity forced by CPF.
HDB & CPF have lost the reason of being.
HDB is no longer building affordable houses for Singaporeans. CPF is no longer meant as savings or retirement fund for Singaporeans.
HDB and CPF with their “honourable” facade are instruments used to serve the greed, power and the addictive needs of a chosen few.
In putting an altruistic front of doing good for the nation, they, like gamblers and addicts, have thrown our good hard earned money through their gambling of Suzhou, ShinCorp, Merrill Lynch, UBS and of course, ABC Learning and very soon, LVS gambling dens at Marina.
They play with your money.
They play you.
They claim they are taking good care of you?
If they really take care, Mr Silvalinkam should not be sleeping in Bishan Park and risks being fined $200 by NParks.
I still cannot get over the deafening silence of those (paid millions to take care of Singaporeans) on 22% increase of electricity tariffs. Is such profiteering justified?
Thanks for letting this fogey let it off his chest.
feedmetothefish.

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[tonychat]

CPF is a conjob. Period. Sinkie deserves it, that is what they voted for.

 

[0939]

Con People's Fund

 

[ahleebabasingaporethief]

CPF is a conjob. Period. Sinkie deserves it, that is what they voted for.

NO MORE MONEY LAH.

QUITE OBVIOUS IS IT NOT?:oIo:

 

[newyorker88]

GOOD post!

What he says is so true...

 

[tonychat]

About 5 years ago, the business community already suspect that the PAP govt has no money.

 

[theblackhole]

we need changes to progress...not changing goal posts lah...just changes to make singapore world class and first world country.huat huat huat!!!!

 

[2lanu]

I once ask a friend that CPF as a safety net below for falling or above us to prevent getting out?

With $$$, we could actucally purchase cheaper housing, medical, and retirement elsewhere that are cheaper. With $$$ in the CPF, we can only buy from SG white scum the housing, medical services and retirement at inflated price. Prices is as what they quote and happy you buy, not happy $$$ parked in "CPF".

Definitely with this CPF under their control, they can planned many things ahead and of course making good profits.

 

[pia]

I once ask a friend that CPF as a safety net below for falling or above us to prevent getting out?

True. CPF is an instrument to keep our money captive in S'pore. Imagine all that wealth released. Money will flow into the neighbouring cheaper countries for consumer goods, properties, investments etc. Whether S'poreans will spend their money wisely or not is not the issue. The outflow of capital is. The captive money feeds our highly paid ministers and civil servants.

 

[chupacabra]

I once ask a friend that CPF as a safety net below for falling or above us to prevent getting out?

With $$$, we could actucally purchase cheaper housing, medical, and retirement elsewhere that are cheaper. With $$$ in the CPF, we can only buy from SG white scum the housing, medical services and retirement at inflated price. Prices is as what they quote and happy you buy, not happy $$$ parked in "CPF".

Definitely with this CPF under their control, they can planned many things ahead and of course making good profits.

They got no balls to let go of CPF. If they let it go, a huge portion of sinkees will put their money in real houses across the causeway instead of sinkeeland.

HDB will suffer greatly because of this. Prices will tumble and surplus flats will rise.

Malaysia government should tap on this and give sinkees fast pace citizenship. But than again sinkee goberment can just amend the law and not let sinkees draw cpf as mudlasians citizens.

 

[cass888]

CPF is a conjob. Period. Sinkie deserves it, that is what they voted for.

Renounce your citizneship. You get every single red cent.

 

[The_Latest_H]

I'm not really interested working in Singapore as a professional, simply because I know that CPF would become a chain around my neck, reducing vastly my chances of social mobility.

Its better I have a nominal sum in there, almost nil, so that I can move around the world really and be pretty free to manage my life independently.

 

[myfoot123]

We pay interest too for using CPF to buy HDB. We were fully charged for using HDB loan and CPF sum to buy pigeon hole. Thus instead of buying property we bought poverty.

 

[williamsF1]

CPF stands for?

cheat people's funds
create poverty finance
control people's future
coffin provision fund
citizens perpetually fleeced