Petition - CPF and Annuity
-
Please see below for info.
http://www.petitiononline.com/annuity/petition.html
Say NO to CPF $60k Rule and Compulsory Annuity
View Current Signatures - Sign the Petition
--------------------------------------------------------------------------------
To: Singapore Citizens and Concerned Individuals
We, citizens of Singapore and concerned individuals, STAUNCHLY OPPOSE the upcoming measures by the Singapore dictatorship to further deny Singaporeans access to their CPF savings. These measures include denying Singaporeans access to their first $60k of their CPF savings for investment (to beat the paltry 2.4% pa interest rate) and making it compulsory for Singaporeans to buy annuities that can only pay out but $250 pm after they reach 85. If Singaporeans die before 85 - and most will - there will be nothing left behind for their children, who will need to start from Ground Zero all over again! And that is after a lifetime of national slavery for third world pay to meet first world cost of living. How sad!
At the same time the dictatorship will be cutting the interest rate for the Special and Medisave accounts to below 4% while boasting that the Government Investment Corporation (GIC) and Temasek Holdings generate return of 18% pa. Yet where do these two entities get their money from to invest in the first place? Where is our money (see article below)? Is the dictatorship lying on the actual performance of GIC and Temasek? Is the dictatorship treating Singaporeans' blood and coffin money as some family's heirloom?
This is yet another piece of evidence that exposes the greed, wickedness and incompetence of the best paid ministers in the world. It also shows that the dictatorship is probably making Singaporeans pay for the GIC's and Temasek's huge investment losses as well as the numerous subsidies and free scholarships given to foreigners.
This is not the first time the dictatorship attempts to fleece hapless Singaporeans and it certainly will not be the last (see http://www.petitiononline.com/GST7/petition.html and http://www.petitiononline.com/paypap1/petition.html). Singaporeans need to stand up against such blatant bullying by the dictatorship or we will be driven to extinction!
http://forums.delphiforums.com/sammyboymod/messages?msg=150164.1
"I have just received the Department of Statistics Year book 2006 and it is interesting to look at the figures:
Singapore residents by Age Group:
0-4 yr 196 K
5-9 yr 239.3 K
10-14 yr 263.6 K
15-19 yr 238.1 K
20-24 yr 222.4 K
25-29 yr 253.7 K
30-34 yr 303.6 K
35-39 yr 310.1 K
40-44 yr 331.2 K
45-49 yr 314.5 K
50-54 yr 260.5 K
55-59 yr 202.8 K
60-64 yr 120.8 K
65-69 yr 104.3 K
70-74 yr 79.7 K
75-79 yr 56.2 K
80-84 yr 30.9 K
85 & abv 25.8 K
What do these figures tell us?
Those people who are eligible to take out their CPF money now (these few years) is at the age of between 60-64 i.e. 120.8K. But ten years later, those at 55-54 yr now would have their CPF due. These figures are 202.8K which is 67% more than now. If those at 45-49 yr old is to take out their money at 20 years later, it would mean that the pressure on CPF would be 160% more than the present situation!
No wonder the PAP government wants to keep deferring the CPF withdrawal age and raise the minimum sum and ultimately introduce the COMPULSORY annuity to lock the money in the system so that the government of the next two or three decades will face less pressure of meeting the repayment of CPF money to us!
But my stand is still clear, the government has the obligation of taking care of the citizens if they become old. After all, they have contributed to the cheap funding of government via the CPF and in fact, face low return rate from their retirement savings in CPF due to the compulsory nature and pitiful interests given by CPF board.
If we look at the figures, we could roughly guage the mortality rate of citizens AFTER 85 yr old. Assuming that prior to 1960s, population size is pretty much constant before the baby boom, the original cohort should be at around 100K (it could be checked by looking at the DOS year book 1995) but only about 25% survived up till 85 yrs old and above.
So, is Compulsory Annuity fair? Or that the real problem is their main concern right now is not merely aging population but the ability of CPF meeting the repayment pressure in 10 or 20 yrs' time?
Goh Meng Seng"
Sincerely,
The Undersigned
View Current Signatures
--------------------------------------------------------------------------------
The Say NO to CPF $60k Rule and Compulsory Annuity Petition to Singapore Citizens and Concerned Individuals was created by and written by Kenny Pang ([email protected]). This petition is hosted here at www.PetitionOnline.com as a public service. There is no endorsement of this petition, express or implied, by Artifice, Inc. or our sponsors. For technical support please use our simple Petition Help form.
share: blogger del.icio.us digg facebook furl reddit slashdot send to a friend
Send Petition to a Friend - Petition FAQ - Start a Petition - Contributions - Privacy - Media Kit - Comments and Suggestions
PetitionOnline - DesignCommunity - ArchitectureWeek - Great Buildings - Search
http://www.PetitionOnline.com/annuity/petition.html
dg © 1999-2005 Artifice, Inc. - All Rights Reserved. -
just a feeble attempt
heard of tang bi dang ju?
no use one -
If it is no use, what do you suggest? There is no point of saying no use without giving any suggestion. You can go ahead to stop these people if it is like what you said above. If you have nothing good to contribute I suggest you shut up.Originally posted by Not4rent:just a feeble attempt
heard of tang bi dang ju?
no use one -
Originally posted by qlqq9:If it is no use, what do you suggest? There is no point of saying no use without giving any suggestion. You can go ahead to stop these people if it is like what you said above. If you have nothing good to contribute I suggest you shut up. the law is aready passed
just migrate -
what do those figures tell us?
the MIW doesn't give a flying rat's ass...
but i'll go sign the thing anyway..
-
I have alway insisted that the statistics had to be shown in order for the ppl to buy what the govt had to sell. better still would be the rates of the ppl passing on at various ages.
http://www.petitiononline.com/annuity/petition.html -
Hey, many including me want to migrate but have no means in doing so, we are stuck here.Originally posted by Not4rent: the law is aready passed
just migrate -
Live Long and Prosper! - Vulcan GreetingOriginally posted by qlqq9:Hey, many including me want to migrate but have no means in doing so, we are stuck here. -
My theory for this is that its due to PAP's Bank Account running low on money,coupled with heavy funding for North Korea
-
so how do you think the 1% CPF interest come about?
-
1% interest. I dun think money will drop from the sky. So what do you guys think?
-
no, we would be driven to extinction, we would be driven to perpetual slavery! -
ST 24-Aug(FRI) - Review28Originally posted by lotus999:
no, we would be driven to extinction, we would be driven to perpetual slavery!
Mr Howe would have approved (anyway) - late MP can become a propaganda tool for ST. -
This reaffirms the decision by my wife and I to give up Singaporean citizenship in 10 years time so we can finally see our CPF monies.
Compulsory Annuity and compulsory taking of our money and putting it into a common pool. It is like saying, your money is the people's money, the people's money is the government's but the government's money is the government's money.
I rather pay a higher tax and enjoy full welfare when I'm old. $300 a month at the age of 80 is not even going to be enough for food; let alone medical bills.
Paying a higher tax will ensure I get about $2000 welfare and full medical facilities. I wonder which is better?
Stupid Singaporeans! Thanks to all those idiots for making my country worse off to live in by voting PAP!!
-
The only method to get the CPF money is to give up the local citizenship.
-
just a feeble attempt
heard of tang bi dang ju?
no use one
at least this person have an idea and Gut to do something about it.
bro, no need to be so passive. in life it not always about getting a result. sometimes its the process. who knows one day, hundreds of thouands will sign it. -
i have sign it.
work or not dont matter to me. at least i am trying my best to deter the ruling party how i wish to use my money.
-
I like your attitude, Reyes, you are encouraging.Originally posted by reyes:i have sign it.
work or not dont matter to me. at least i am trying my best to deter the ruling party how i wish to use my money. -
When your CPF has reached a nice tidy sum, give up your citizenship, empty the CPF then migrate.Originally posted by qlqq9:Hey, many including me want to migrate but have no means in doing so, we are stuck here.
Of course, you better play safe and get acceptance first before starting the process.. -
1st, lets get a job overseas, become a 'PR' overseas and then vote from overseas. When too many young people are working overseas, can serve as a signal to them that many are preparing to migrate.Originally posted by will4:The only method to get the CPF money is to give up the local citizenship.
btw, I signed the petition electronically as well.
Although Indians and chinese can replace us easily we need to not just talk about a backup plan but should also take real action. If greener pasture is indeed found, I will just drop it.
Some time ago, I returned from an assignment working in the west ( i shall not reveal the country name) and its really many times better in terms of living lifestyle. The cost is higher but so can be the salary. I am willing to spend more for the kind of lifestyle (more fun and relax and higher Quality of Life) I can get. Singapore should also eventually come close to this level of expense and it will get crowded.
I made the decision to venture abroad on contract assignment. It was a culture shock and took a lot of guts in me to attempt that. And I never regretted.
In 1st worlds in the west, they openly criticise their papaganda machines. And they still 1st world and democratic and peaceful and well-to-do country.
I am trying to put the message across that talk and talk is no use. Just Do It!
I did and now I know the difference between singapore and the west.
We can be frustrated and keep grumbling that we want to migrate. After a while you will forget again. The cycle repeats. One ages very fast. When young and single, do it now while its convenient. Being married can add so much more inconvenience.
I am hoping to get another assignment hopefully a perm job overseas and work there on permit. If can get some kind of long term residence, I will then be ready to withdraw entirely, when the need arise.
I create my own choice where to live and die. I do it my way.
my 2 cents.
-
but a petition is not feasible. definitely wont work.
-
Originally posted by reyes:
Hear! Hear!
[b]
no use one
at least this person have an idea and Gut to do something about it.
bro, no need to be so passive. in life it not always about getting a result. sometimes its the process. who knows one day, hundreds of thouands will sign it. [/b]
Yes, first of all we have to take the first baby step. -
if u try, u have a slight chance...Originally posted by vIn.Warrior:but a petition is not feasible. definitely wont work.
if u don't, the possibility is ZER0... -
Sorry i don't buy ST and don't know what kind of crap they put in there. But i don't think the late Mr Howe would have approve a compulsory annuity that pays out only when the annuitant reaches the age of 85 years. He himself died at 84.Originally posted by lotiman:ST 24-Aug(FRI) - Review28
Mr Howe would have approved (anyway) - late MP can become a propaganda tool for ST. -
Thats so very true.Originally posted by pearlie27:Hear! Hear!
Yes, first of all we have to take the first baby step.
Rome cannot be built in 1 day.
Everything has a start.
If you do nothing, you fail to do anything.
Everyone is different : diff needs, wealth, ability, lifestyle. Democracy iis based on RESPECT. Respect for individual rights. Rights like how your money should be spent. Planning for Retirement is to be an idea to be supported. However, there can be numerous ways to achieve this. Each individual should be ALLOWED to CHOOSE how they want to retire.
many already buy some kind of insurance to like savings type of insurance. FD, shares, funds, so many more types of investments and plans.
This shows that people are very much concerned about their retirement already. Asians are the best most Frugal and have the highest savings. They want to retire with money. Its already an asian culture about savings. So, I think although its good to continue to encourage the young the idea of retirement planning, THERE SHOULD BE AN OPT-OUT POSSIBILITY.
After all, its our money, Or is it NOT? The answer can only be either.
If there are more who Opt-Out of this to-be-compulsory plan, they say the premium may be more expensive? If so, its up to the solution maker to make things work. Or let the people decide if they want a more expensive solution.
The market will dictate in a free economy.
Given Freedom to Choose, I TRUST the People will make the Right Decision.