Life savings – gone

Posted by on October 12, 2008 2 Comments

We spent our whole lives working for this country, and now our money is gone.

Man in his 60s, at Speakers’ Corner

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2 Responses to “Life savings – gone”

  1. si mi kor ai tan 15 October 2008

    Next time to see an old lady picking cardboards by the garbage dump you would do well to remember that she is one of those who had helped to build this nation – literally – brick by brick . . . the poor old samsui woman whose back is bent and eyes that no longer shed tears . . .

  2. George 25 September 2009

    Pooling fund together to reap the benefit of low management cost did make financial sense but the negative sides were never considered. The percentage of CPF fund lost was considerable. Many pension fund have rules that do not permit more then 5% per investment and spreadly widely across many portfolios and countries to minimise any unexpected event. Warrent Barffet, the sage of Omaha and CEO of Bershire Hatterway Management Fund had many great ideas how to manage investment. He is well know for his skill and his annual report is widely read and eagerly awaited each year.The consequences of nepotism is that poor Sinkaporean had to suffer in their old age with reduced pension. Those in the late 40s and 50s would suffer more then say the 20 something now. The gahment should do something about it e.g. set aside an annual budget to cover the short fall.After all both the annual budget money and CPF belong to Sinkaporean. Leaving those poor and disadventaged to suffer as a result of gahment error is morally wrong. This is a good chance for the PAP to show that they do care. By encouraging all gahment department to save 2.5% of the annual budget over period years will help reduce the CPF deficit. Responsibilities and authority goes side by side. Our million dollar ministers surely could come with a painless solution to address this importance issue.