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STOP THE WAYANG, just return us our CPF!
July 22, 2009 by admin
Filed under: Current Affairs
Written by Ng E-Jay
22 July 2009
More twist and turns have appeared in the CPF Life scheme, an annuity scheme to be administered by the CPF Board that promises to give lifelong payouts to CPF members.
On Monday in Parliament, Manpower Minister Gan Kim Yong found himself clumsily trying to reassure Singaporeans that monthly payouts from the CPF Life scheme will continue as long as the CPF member is alive, despite a provision allowing the CPF Board to stop payments in the event that the Lifelong Income Fund becomes insolvent.
Madam Halimah, chairman of the Government Parliamentary Committee for Manpower, had earlier noted that she found this clause “quite disturbing“.
Mdm Halimah has a curious sense of humour and a vocabulary to match. This clause is not merely disturbing. It is monstrous because it allows the Government to completely shirk its responsibility and accountability to Singaporeans in the event that the Lifelong Income Fund becomes insolvent due to its mismanagement and incompetence.
Read more
July 22, 2009 by admin
Filed under: Current Affairs
Written by Ng E-Jay
22 July 2009
More twist and turns have appeared in the CPF Life scheme, an annuity scheme to be administered by the CPF Board that promises to give lifelong payouts to CPF members.
On Monday in Parliament, Manpower Minister Gan Kim Yong found himself clumsily trying to reassure Singaporeans that monthly payouts from the CPF Life scheme will continue as long as the CPF member is alive, despite a provision allowing the CPF Board to stop payments in the event that the Lifelong Income Fund becomes insolvent.
Madam Halimah, chairman of the Government Parliamentary Committee for Manpower, had earlier noted that she found this clause “quite disturbing“.
Mdm Halimah has a curious sense of humour and a vocabulary to match. This clause is not merely disturbing. It is monstrous because it allows the Government to completely shirk its responsibility and accountability to Singaporeans in the event that the Lifelong Income Fund becomes insolvent due to its mismanagement and incompetence.
Read more
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