Is there Something Wrong with CPF?

av98m SG

I thought it's quite obvious the reserves are to enable the government to continue to pay the high salaries, bonuses and pensions of the ministers and mps even during hard times. Since when has it ever been about helping the unwashed masses? Smile

SnowFlag SG

We are not supposed to doubt Father, Son and Holy Goh...they are genius!! Embarassed

pat33 SG

I agree 100% with Robert here.... remember previous national day rallies where GCT talked about the next lap, about achieving the Swiss standard of living and about releasing CPF money for investment so that Singaporean can be asset enhanced and become STAKEHOLDERS of this country.

Right motive but all the wrong implementations...... Any good politician would have know that the economy goes in cycles. And worse still, to artificially propping up the market with asset enhancement.

robertteh SG

Originally posted by pat33:

I agree 100% with Robert here.... remember previous national day rallies where GCT talked about the next lap, about achieving the Swiss standard of living and about releasing CPF money for investment so that Singaporean can be asset enhanced and become [b]STAKEHOLDERS of this country.

Right motive but all the wrong implementations...... Any good politician would have know that the economy goes in cycles. And worse still, to artificially propping up the market with asset enhancement. [/b]

In short, our leaders have made empty promises !!!!!!!!!!!

drawer SG

SHUT UP,B!TCH!!!!

drawer SG

Like i have mentioned in my pass post,i believe that our government is losing money in their foreign investment projects.Thats why now they find every means n ways to "steal" money from us n our CPF savings.

drawer SG

Haha,they are genius?Genius at scamming their own countrymen hard earn money,this is what they are pro at!!!!......By the way,that "Goh" shouldnt be pronounce as "Holy Goh",he should be known as "Cork Sucking Goh"!!!!You know why?Becoz whenever that "Goh" see the "Father" coming,his legs will start shaking n timidly ask:"Can i do blow job for you,Sir?" Mr. Green

drawer SG

Nah,that day will never come,Lou Ah Lee,Lou Ah Goh n Siao Ah Long will continue to lose money in foreign investment.You know why?Becoz everytime when they invest in other countries,they want to be the "dominating shareholders" in that company.Which means that they want to be the leader in the companies.

Let me ask u all something,if u were other countries leaders,and knowing fully well that Temasek holdings n the likes are from the Singapore government subsidies companies,will u sit down there doing nothing n see these companies dominating your markets n earning a huge profits without interfering?OF COZ NOT!!!Who would be so stupid???Thats why our GLC companies met alot of obstacles when they make investment in other countries.Becoz they always want to be the dominating shareholders n think that other countries market are like their own,that is the problem!!!

Lowclassman SG

They are best creatures on earth command the ridiculously high universal high salaries and many perks and chairman fees, what ...fees and fees lah....all kinds of fark.

dezzzo SG

yes it is, WHY are they HOLDING onto OUR money? because it's $114.9 billion that's why. many people of the baby boomer age are retiring already and I believe their CPF totals up to 3 quarter of the $114.9 billion. That's a lot of money. Just imagine, within 3-5 years about $80 billion is withdrawn from the governments gold-lined coffers by ordinary citizens like you and me but older and possibly our parents - if they didn't implement this STUPID STUPID STUPID @#[email protected]#[email protected]#[email protected]$ rule of Minimum SUM.

They will MAKE SURE that nobody touches that $80 billion, because they have claimed it as theirs. Even if you have a nominee, it goes into that Nominee's CPF right? thus the cycle of CPF continues to fund their great monetary adventures. As long as the word is CPF, that means it's no longer YOUR money. Remember that. CPF is now not superannuation - it's a deceiving sneaky form of "tax".

Now consider this - "tax" in Australia is used to pay of the nation's debt, help the elderly, benefits for the disabled, power the physical infrastructure, most of the time.

whereas in singapore govt "income" (many forms - ERP, CPF, Insurance, COE, car inspections, road tax, petrol tax, public transport price hikes, car tax (PARF), SP bill, Starhub bill (revenue goes to government somehow GLC), Singtel bill (compulsory phonebill), Education fees, Income tax, land tax, HDB conservancy fees, stamp duty, GST, TV & radio licenses, parking fees, parking coupons), serves and helps nobody but themselves get richer and richer and richer, and a portion (not large portion but substantial amt because the pie is already so gigantic) goes to funding the military. Great isn't it?

I really hate it when I tell people about this and some idiots give me the ultimate bullshit about the how the Minimum Sum rule protects the old from spending the money too fast. They're just mouthing out words from their puny little brainwashed brains brainwashed by the media that only shows them blinded fools the "symptom" and not the true root of the issue - which again is really to protect that $80 billion from leaving the govt coffers in a period of 3-5 years. That's the TRUE reason everybody. listen, I'm not kidding you.

dezzzo SG

They might as bloody well rename CPF, - TAXCUFFAS :-

Tax. Can Use For Flat and Shares

or CPFIAMMA :-

CPF, It Ain't My Money Anymore

ShutterBug SG

The worst part about the statement from CPF is; Wait till your medical condition worsens, then apply again for the use of your CPF money to subsidize your medical treatment. A medical examination must also be conducted to escertain that you are not able to hold a job due to, your medical grounds.

Now, from this, am I suppose to let my health further deteriorate to the point I can no longer work so that I may use my CPF to stay alive?

Where is the LOGIC???

dragg SG

a chinese bank recently issued an IPO and was recently listed in hong kong or china.

what you mentioned happened.

macjoe SG

I have two questions in search of answers:

Is all the CPF reserves in SGD cash or in other forms?

And is all the CPF reserves residing in the CPF vault or in vaults owned/runned by others?

dragg SG

nobody knows.

a big bulk of our money must be in the cash or gold to support our currency, the rest should be with temasek and its investment arm.

av98m SG

And what if for whatever reason, one is unable to find employment? (discrimination against older people, bad job market etc)

What I find interesting is that CPF actually causes much suffering for the poorer folks, the very people that it is supposed to help the most!

dragg SG

that is the problem. the cpf scheme is totally inflexible. withdrawal must be on a case to case basis, not outright rejection.

it is obvious that under only one circumstance can someone withdraw his cpf - give up his citizenship and leave the country.

SnowFlag SG

I have no doubt the reserves are in safe hands since the Lee's, aka geniuses, are guarding it. Mr. Green

drawer SG

Oh ya,here i have a question.If let say i gave up my citizenship and leave this god damn country for good,will i be able to withdraw all of my CPF savings?Does anyone know is it possible to do so?

ShutterBug SG

You know, I can and do appreciate that Singapore is relatively safe, and peaceful. But what good, if Singapore is not Senior Citizen friendly?

Don't forget, those of you who are young now, will one day grapple with the idiocy of CPF.

They expect you to become a vegetable before they let you have your money to take care of your medical needs.

I feel we should all collectively launch a complain to affect a change in policies governing our CPF! It's not right that they should deny us the right to our money to take care of our health.

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