Shocking facts about the CPF

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[TD="class: trow1, align: center"]roman <!-- start: postbit_offline -->

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[TD] Shocking facts about the CPF! Simply scary...

http://thehearttruths.com/2013/11/04/shocking-facts-about-our-cpf-in-singapore-part-1/


http://www.tremeritus.com/2013/11/05/shocking-facts-about-our-cpf-part-2/
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[winners]

It's already a very well known fact that the CPF is a state-run ponzi scheme to fund the government coffers.

If you want to be a Sinkie, then there is no escape. I believe that even if there will be a change of government, the fundamentals of the CPF will still remain status quo.

The Sinkies must therefore think of alternatives to beat the CPF. One way is to acquire properties and lease them out. The rental returns + the guaranteed capital appreciation will definitely beat the mere 2.5% return from the CPF. Another is to invest what is allowed (from the CPF) into Blue Chip Stocks and earn their dividends + capital appreciation.

 

[Equalisation]

Give us back OUR hard-earned CPF money at age 55 NOW. !!!

Damn it ! It is our blood and sweat money !:oIo::o

 

[tonychat]

The term "sinkie loser" has its deep related meaning.

This is what happen when sinkies are too ball-less to protest, they screwed themselves in the end.

 

[tonychat]

And if there are S$1 trillion in the Singapore reserves, then why the heck are Singaporeans earning one of the lowest returns to our CPF? Why do Singaporeans still live on one of the least adequate pension funds? Why do most Singaporeans still have to work past their retirement – the highest in the region – because they cannot afford to retire? (Read Part 1 here for how inadequate our CPF is).

If the Singapore government is so rich, why do Singaporeans continue to earn the lowest salaries among the high-income? Why does the government continue to spend the lowest on health among the developed countries and one of the lowest in the world? Why does the government continue to spend the lowest on education among the developed countries? Why does the government continue to spend the least public spending, such that Singapore now has the highest income inequality among the high income countries, and one of the highest in the world? Why is there still no minimum wage in Singapore to protect the low-income earners in Singapore and why do we have the highest poverty rate among the high income countries?

because sinkies are ball-less coward losers who love to be ass-screwed and after that still turn back and smile at their ass-abuser and ask them if they are comfortable assing them.

 

[Kuailan]

Give us back OUR hard-earned CPF money at age 55 NOW. !!!

Damn it ! It is our blood and sweat money !:oIo::o

Our CPF monies has been Jinx 's bank where she can takes any amount she like!
CPF is her bank, her ATM, her finance company!

How does Tamasick starts without money?? from CPF off course she's got free hand to dick
as much as she like to built her empire! Just like bloody NTUC where does the money come from?
CPF now is basically an empty shell being broke into by a Jinx!!
poor seniors got no more money left for them!!

NTUC ~ from the worker's monthly contribution which works out to million dollars, white maggots dick
into the funds and built NTUC, before that they starts with SMMWU co-operative at Toa Payoh Blk 79,
thereafter NTUC mega store at Toa Payoh Central!!

 

[johnny333]

It's becoming to look like the CPF is nothing more than just another hidden tax which Sporeans are paying. A tax that is being shared by workers & their employers.

 

[soIsee]

It's already a very well known fact that the CPF is a state-run ponzi scheme to fund the government coffers.

If you want to be a Sinkie, then there is no escape. I believe that even if there will be a change of government, the fundamentals of the CPF will still remain status quo.

The Sinkies must therefore think of alternatives to beat the CPF. One way is to acquire properties and lease them out. The rental returns + the guaranteed capital appreciation will definitely beat the mere 2.5% return from the CPF. Another is to invest what is allowed (from the CPF) into Blue Chip Stocks and earn their dividends + capital appreciation.

Acquire properties lease them out?

The vast majority who had acquire properties and they are actually lease to them as 99 years HDB, have totally emptied their CPF paying for these way over priced pigeon hole and tied themselves over more than 25 years of slavery to service their high mortgage loan.

Where will these ppl be able to lease them out or have even enough in their OA to buy blue chip shares?

Hell, the number of working Sinkie who even have more loans ( like their over priced car loan) tied to their feet is even more shocking than they realised themselves!

The entire Sinkie cohort are more in debt than they ever realised and here you go about telling the Sinkie what they can do with their Con People Fund! LoL

 

[jw5]

Give us back OUR hard-earned CPF money at age 55 NOW. !!!

Damn it ! It is our blood and sweat money !:oIo::o

What about tears? :o

 

[tonychat]

Give us back OUR hard-earned CPF money at age 55 NOW. !!!

Damn it ! It is our blood and sweat money !:oIo::o

The problem is that you only post in the forum and do nothing in the real world to demand it back.

You can go suck thumb and get a cactus up your arse.

 

[Extremist]

Dispelling Untruths About CPF - By Calvin Cheng

Roy Ngerng (aka HeartTruth's Sexispider), the blogger at The Heart Truths, wrote an article on CPF that is fundamentally wrong.

He compares Singapore's CPF with Western Social Security schemes.

Social Security is a TAX. The money deducted from payrolls goes into Government REVENUE which is then used to fund welfare payouts and pensions for the general population. What you pay in Social Security Tax is used not only to fund yourself, but every other citizen. You could have paid a lot of Social Security Tax as an individual, but receive very little back if you do not qualify for any welfare assistance; on the other hand, your neighbour who does not go to work, and does not pay any tax could be receiving handouts that YOUR TAX funds.

CPF is compulsory PERSONAL SAVINGS. The money that is goes into our CPF account are OUR PERSONAL SAVINGS that we can use to buy homes, unit trusts, and eventually help fund our own retirement. Whatever we have in our CPF is directly correlated to how much we make in our lifetimes. It is not a TAX. It is our own savings. If a person has little in his CPF at retirement, it is entirely because his income was low during his lifetime. Other assistance would then be given to these low-income individuals, assistance funded by TAX not by other people's CPF contributions.

Secondly, Roy takes issue with the returns on CPF. He obviously has done very little investment himself.

The returns on CPF paid to us are GUARANTEED.

Investment returns are a function of risk.

You will find that there are almost no investments that GUARANTEE an interest rate of 2.5% a year much less 4% on investments.

Contrary to what Roy asserts, because they are guaranteed, these are HIGH interest rates.

It is also completely silly to compare what GIC and Temasek gets in returns, to what the CPF pays. GIC and Temasek's returns are risk-adjusted and obtained from a portfolio of investments. They are not guaranteed. Moreover, any government investments that make losses, like during the GLOBAL financial crisis, are not deducted from our CPFs because they are Singaporean's personal savings.

Thus, contrary to being truths, the 'shocking revelations' on CPF in the article are built on basic falsehoods.

 

[cass888]

Rubbish. Everybody knows that 75% of most people's CPF have already been withdrawn by the member to pay HDB, Hong Leong, Far East and Capitalland. What the fuck are you talking about?

It's already a very well known fact that the CPF is a state-run ponzi scheme to fund the government coffers.

If you want to be a Sinkie, then there is no escape. I believe that even if there will be a change of government, the fundamentals of the CPF will still remain status quo.

The Sinkies must therefore think of alternatives to beat the CPF. One way is to acquire properties and lease them out. The rental returns + the guaranteed capital appreciation will definitely beat the mere 2.5% return from the CPF. Another is to invest what is allowed (from the CPF) into Blue Chip Stocks and earn their dividends + capital appreciation.

 

[winners]

Rubbish. Everybody knows that 75% of most people's CPF have already been withdrawn by the member to pay HDB, Hong Leong, Far East and Capitalland. What the fuck are you talking about?

That is why I'd say you are a damned bloody fucking stupid idiot. At least it had worked for me, my brother and some of my relatives as well. I don't know about you. I think you better go and kill yourself in front of the MRT. After all, you totally have no talent at all.

P.S.: If you are so stupid that you don't even know how to kill yourself in front of the MRT, I can assist you to meet your creator earlier, before Thanksgiving.

 

[cass888]

Easy to tell that a fuckwit like you has lost an argument when you hit at me without a single counterpoint. I repeat - most of the ordinary accounts have been paid over to HDB, Hong Leong, Far East and Capital Land. Not much money left to Ponzi with.

What a fuckwit.

That is why I'd say you are a damned bloody fucking stupid idiot. At least it had worked for me, my brother and some of my relatives as well. I don't know about you. I think you better go and kill yourself in front of the MRT. After all, you totally have no talent at all.

P.S.: If you are so stupid that you don't even know how to kill yourself in front of the MRT, I can assist you to meet your creator earlier, before Thanksgiving.

 

[zhihau]

most of the ordinary accounts have been paid over to HDB, Hong Leong, Far East and Capital Land.

a retirement fund with a lobang to drain the resources... wonder who was that genius whom mooted the idea...

 

[gingerlyn]

a retirement fund with a lobang to drain the resources... wonder who was that genius whom mooted the idea...

retirement fund is channeled into HDB and Capital land and also land is controlled by government.
so all in all, government manipulated and screw up sinkie retirement fund.
Cass is just trying to smoke silly sinkie here

 

[TopSage]

Dispelling Untruths About CPF - By Calvin Cheng

Roy Ngerng (aka HeartTruth's Sexispider), the blogger at The Heart Truths, wrote an article on CPF that is fundamentally wrong.

He compares Singapore's CPF with Western Social Security schemes.

Social Security is a TAX. The money deducted from payrolls goes into Government REVENUE which is then used to fund welfare payouts and pensions for the general population. What you pay in Social Security Tax is used not only to fund yourself, but every other citizen. You could have paid a lot of Social Security Tax as an individual, but receive very little back if you do not qualify for any welfare assistance; on the other hand, your neighbour who does not go to work, and does not pay any tax could be receiving handouts that YOUR TAX funds.

CPF is compulsory PERSONAL SAVINGS. The money that is goes into our CPF account are OUR PERSONAL SAVINGS that we can use to buy homes, unit trusts, and eventually help fund our own retirement. Whatever we have in our CPF is directly correlated to how much we make in our lifetimes. It is not a TAX. It is our own savings. If a person has little in his CPF at retirement, it is entirely because his income was low during his lifetime. Other assistance would then be given to these low-income individuals, assistance funded by TAX not by other people's CPF contributions.

Secondly, Roy takes issue with the returns on CPF. He obviously has done very little investment himself.

The returns on CPF paid to us are GUARANTEED.

Investment returns are a function of risk.

You will find that there are almost no investments that GUARANTEE an interest rate of 2.5% a year much less 4% on investments.

Contrary to what Roy asserts, because they are guaranteed, these are HIGH interest rates.

It is also completely silly to compare what GIC and Temasek gets in returns, to what the CPF pays. GIC and Temasek's returns are risk-adjusted and obtained from a portfolio of investments. They are not guaranteed. Moreover, any government investments that make losses, like during the GLOBAL financial crisis, are not deducted from our CPFs because they are Singaporean's personal savings.

Thus, contrary to being truths, the 'shocking revelations' on CPF in the article are built on basic falsehoods.

It is not identical but there are many similarities.

Say in the US social security system. 1. You pay tax 2. When you retire, govt is obliged to give you pension.
Similarly 1. You pay into CPF (own account) 2. When you retire, govt is oblidged to give you back your CPF.

1. Both are forced by law to take something you earned.
2. The differ only in the way it is accounted in CPF individual account, in Social Security money is pooled.
3. That you get back depending on the amount, for you its a cash flow it is either positive, negative or neutral.
If you put in and get back more or less the same with nominal returns - CPF, it is neutral. If you're poor in US, you tend to get more,
so you have positive net cash flow. If you're rich, in USA, tend to be negative cash flow.

Whether it is tax, or not tax, just look at it as a cashflow.

In the Singapore system, the CPF does nothing to help those who are less fortunate.
In the social security system, the poor tend to benefit helping to mitigate the effects of their income gap.

 

[ChaoPappyPoodle]

The maximum CPF contribution per person is based on $5000 monthly salary. In other words, if you earn more than $5000 a month, you only pay contribution amounts up to $5000. The CPF locks the money of the lower and middle income. The rich only have a very small amount of money locked into the CPF.

Tell this to your friends because a large majority of Singaporeans think that even the rich pay their 16% employee and 20% employer to CPF. This is not true as those that earn a lot only pay a maximum based on $5000 per month salary.

 

[I_Hate_Pappies]

The maximum CPF contribution per person is based on $5000 monthly salary. In other words, if you earn more than $5000 a month, you only pay contribution amounts up to $5000. The CPF locks the money of the lower and middle income. The rich only have a very small amount of money locked into the CPF.

Tell this to your friends because a large majority of Singaporeans think that even the rich pay their 16% employee and 20% employer to CPF. This is not true as those that earn a lot only pay a maximum based on $5000 per month salary.

In another words, the poors are contributing more than the rich. Who did they vote for?

 

[winners]

What a fuckwit.

Fuck you lah. Must you be so low as to use the same word as Leongsam, or are you his clone? You don't have to suck up to him. His prick is too long for your throat, you mother fucker. Who the fuck are you?