Is there Something Wrong with CPF?
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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.Originally posted by dragg:when has our govt ever used the reserves to help us in times of need. what is the purpose of temasek holdings and its investment arm? i always see reports saying that we have a hell lot of reserves. but what good are the reserves when it is not used at all to help?
cpf cannot touch as explained in my earlier post.
contribution rates cut to attract investors due to poor economy. but take donkey years to go back up, or wont go back to old rate anymore. thus less cpf, equalling to less income.
high interest rate for housing loans.
less and less jobs. have to tighten belt and accept lower paying job. retrenchments. outsourcing and whatnot leading to more unemployment.
higher transport cost, utilities and whatnot.
all in all it is obvious. people generally end up in more debts, less income, higher living cost and no job/job security. -
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?"Originally posted by SnowFlag:We are not supposed to doubt Father, Son and Holy Goh...they are genius!!
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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.Originally posted by Aveme:hehe already said le mah,govt must look good
so if got losses,all the more,die die also cannot show mah.
We can only hope they can do the right thing to make up for it later if such losses are true.
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!!! -
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.Originally posted by SnowFlag:We are not supposed to doubt Father, Son and Holy Goh...they are genius!! -
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 $80 billion is withdrawn from the governments gold-lined coffers by ordinary citizens like you and me but older and possibly our parents - if they didn't implement this STUPID STUPID STUPID @#$@#$@#$@$ rule of Minimum SUM.Originally posted by dragg:its bullshit.
they are doing everything they can to hold on to the money. according to the report recently the amount is a staggering S$114.9 billion at the end of march.
imagine how much they can make from interest alone, let alone investment. how much are they paying us? a pathetic 4% or maybe less.
any request or suggestion pertaining to cpf it is turned down. they just wont allow singaporeans to touch it. and they come up with all sorts of ideas just to make sure the money stays there. WHY?
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. -
They might as bloody well rename CPF, - TAXCUFFAS :-
Tax. Can Use For Flat and Shares
or CPFIAMMA :-
CPF, It Ain't My Money Anymore -
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??? -
a chinese bank recently issued an IPO and was recently listed in hong kong or china.Originally posted by drawer: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!!!
what you mentioned happened. -
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?
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nobody knows.Originally posted by macjoe: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?
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. -
And what if for whatever reason, one is unable to find employment? (discrimination against older people, bad job market etc)Originally posted by ShutterBug: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???
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! -
that is the problem. the cpf scheme is totally inflexible. withdrawal must be on a case to case basis, not outright rejection.Originally posted by av98m: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!
it is obvious that under only one circumstance can someone withdraw his cpf - give up his citizenship and leave the country. -
I have no doubt the reserves are in safe hands since the Lee's, aka geniuses, are guarding it.Originally posted by macjoe: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? -
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?Originally posted by dragg: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. -
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. -
Whatever you do, don't protest in front of the CPF building. The riot police squad might have orders to shoot the next time.Originally posted by ShutterBug: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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According to the Today news report a few months back, Temasek or GIC really make money the past year, something in the range of 4% gain. Not too sure if that 4 % is a net or gross value - meaning 4% gain before expenses (salaries and other expenses) or 4% gain after netting off the expenses.Originally posted by drawer:Nah,that day will never come,Lou Ah Lee,Lou Ah Goh n Siao Ah Long will continue to lose money in foreign investment.
Whichever the case, as loyal and humble citizens, we must understand that today's economy is ever changing and hard to master. Thus it is already very impressive that our scholaristic, super intelligent leaders can squeeze 4% gain. Please give them more time (like 10 or 20 years), more money (like all our CPF) and double their salaries so that hopefully in the future, the gain can be 8%. -
i wonder how many consultants and board of directors they have and how much they pay to all these so called talents.Originally posted by Cindyfeh:According to the Today news report a few months back, Temasek or GIC really make money the past year, something in the range of 4% gain. Not too sure if that 4 % is a net or gross value - meaning 4% gain before expenses (salaries and other expenses) or 4% gain after netting off the expenses.
Whichever the case, as loyal and humble citizens, we must understand that today's economy is ever changing and hard to master. Thus it is already very impressive that our scholaristic, super intelligent leaders can squeeze 4% gain. Please give them more time (like 10 or 20 years), more money (like all our CPF) and double their salaries so that hopefully in the future, the gain can be 8%.
i am sure they are all paid IN LINE WITH THE MARKET RATE!!!! -
General Assumption: Singapore have huge reserves.
What if Singapore have no reserves ?
or money to pay the pple their CPF money ? -
maybe not as much as the amount made believe.Originally posted by Medicated Oil:General Assumption: Singapore have huge reserves.
What if Singapore have no reserves ?
or money to pay the pple their CPF money ? -
Don't you ever wonder despite having the world's highest forced savings thru CPF no one seems being able to retire when they reach 55. Is there something wrong with the system?
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Orwell76, has brought up a good observation.
Can the rest contribute as to WHY? people with CPF savings not retiring?
Please air your views and expressions. I've had enough of this CPF bullshit. -
its obvious most of our cpf are used up to pay for our flats. unless you sell it and sleep at the bus stop how else can you have money?
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Because it is boring to retire - nothing much to do in singapore when you retire.Originally posted by ShutterBug:Orwell76, has brought up a good observation.
Can the rest contribute as to WHY? people with CPF savings not retiring?
Please air your views and expressions. I've had enough of this CPF bullshit.
Most importantly, it is because of the great work opportunities that the gov encouraged - Landscape ARTISTs, cleaners, Merz drivers (taxi), etc. -
last week i went to the job fair.Originally posted by Cindyfeh:Because it is boring to retire - nothing much to do in singapore when you retire.
Most importantly, it is because of the great work opportunities that the gov encouraged - Landscape ARTISTs, cleaners, Merz drivers (taxi), etc.
a 55 yr-old man was asking about tourism course and whether he can find a job after finishing it.
55!!!