“The CPF plus accrued interest will have to be returned to one’s CPF account to make up any CPF Minimum Sum (currently $105,000) shortfall.”

Hmm.. how does this work?

You buy a flat using a CPF loan of 2.5%, and every month you are paying CPF the installment which consist of the 2.5% interest and partial principal. The 2.5% is the cost of fund that is charged by CPF to loan you the balance. Fair and square.

Now, you want to sell your flat in age 55, you will have to return to your own account any residual sale amount. FAIR..

Plus the accrued interest (which is 2.5%?), so what is this for? I thought I already paid CPF the cost of fund earlier on.

Don’t have to even think about when one retires.. How about the impending job losses that are expected? What is a member going to do if he/she loses her job and have funds sitting in Special Account/Ordinary Account? Shouldnt this rule be reviewed to allow them to withdraw some of these if the need can be established?
Selling their property will take time and in a situation of negative equity means all monies are locked back in CPF.
Whose Money IS IT?

Why are Singaporeans paying this guy more than 2 million dollars a year to come and hurl insults against Singaporeans. Honestly, I doubt that he will be able to get a $2,000 job on his own.

In any other country, even in Malaysia or Indonesia… the public would demand his immediate dismissal.

I notice that the CPF policies have been changing over the years.
How to plan like this when ,so-to-speak, goal post keep changing?

If the MS keep increasing, I must confess that I have NO CONFIDENCE of the future as technically the MS of the future appears to be UNKNOWN. at least I think it will continue to change. To me so far the changes have been big.

Unfortunately, I have been thinking (only) of withdrawing my CPF by migrating out of Singapore if , IF i really need the money. But I do not encourage anyone else to do the same. I am poor and when pushed to the limit, that is my last resort.

SAD…i hope….

More Good Years!!!

regards
Majority_u_so_cute!

I wonder what other things will HIKE for sure given that many businesses are incapable of staying afloat due to whatever reasons like eg, GREED?

Where shall the Buck stop?

Who shall bail them out ? ‘Powerless’ Consumers? maybe is as good as maybe not.

Just as expected by many, the money in the CPF life saving is always being manipulated in many ways and forms down to one motive, you can see them but you cannot take back anymore. Its up to the garment to do what they like with the ppl monies for they know that there is nothing you ppl can do about it. Talk too much and I will bring out the isa thread upon you, you can’t run and you can’t hide as the police and army belongs to me, understand you stupid ppl out there. I wonder how long more will the ppl be able to hold on to this suffering to many more years to come.

Just as expected by many, the money in the CPF life saving is always being manipulated in many ways and forms down to one motive, you can see them but you cannot take back anymore. Its up to the garment to do what they like with the ppl monies for they know that there is nothing you ppl can do about it. Talk too much and I will bring out the isa thread upon you, you can’t run and you can’t hide as the police and army belongs to me, understand you stupid ppl out there. I wonder how long more will the ppl be able to hold on to this suffering to many more years to come. The only hope for singaporeans to change things now lies in the hand of the new younger generation group as the fate of the helpless older folks are now being sealed. Do something, at least if its not for your parents, do it for yourselves. Singapore belongs to the singaporeans.

CPF $ ?? I see that as $ being lock indifinitely !!

How can one start planning for retirement when the system keep changing? What some said is indeed truth about evenutally, most (though I do not have the actual numbers – anyway not my job to know rather the duty of our world class govt to provide us with datas) singaporean will probably not be able to use their CPF for retirement at all except when the cpf life kick into action which to me that is a life annunity which pay very little!!

There is another issue which many are unaware of, ie, the maximum sum one can use their CPF in repaying mortgage loan – currently stand at 120% of the price of the property you brought.

Many will have a shock of their life if they realise that they need to pay in cash for their mortgage even they have $ sitting in their CPF acct if they have used up the so call maximum sum one call use from cpf for their mortgage loan. (please check with CPF website for details)

Con People’s Money

“Every month, when I receive my CPF statement, I feel so rich and the best part is, I know the CPF money won’t run away. CPF will still be around for a long, long time to come… Not only is it earning good interest, my capital is protected.”

I already feel so rich just by listening to what he has said.

Perhaps, he should give us a daily dose of this positive note so that we will feel even richer and not on a monthly basis which will make us slightly poorer. Cannot meh ?

Hi I speak my mind

If you buy a new HDB flat with a HDB concessionary loan, this 120% CPF cap does not apply

Cheers

Leong Sze Hian

Does any of you know the PAP manifesto?

STAYING TOGETHER, MOVING AHEAD.
- Create opportunities for Singaporeans (what is ‘opportunities’?).
- Give our young the best start (how? when their parents are squeezed high and
dry).
- Encourage every citizen to play a role (think jbj & csj).
- Do more for lower-income Singaporeans (22% electricity tariffs? – see also
TOC’s ‘the relentless rising cost of living in Singapore’).
- Help older Singaporeans to lead full and active lives (and then to die lonely in
old age homes).
Provide affordable healthcare for all (more like affordable rate of payment with the
same end result – you give every cent you save to the
nation’s coffers).

Let’s assume. Given that you are old, retired man and unable to get any money out from his CPF due to the minimum sum. The following might happenif things turn out to be bad:
If you have a big house, down grade and get a smaller one.
If you have a small house, sell it and rent a smaller unit.
If you are already renting a house, OMG, I think you better sleep somewhere in the public.

Does this mean a dip in the quality of life when you are old?
Does it seem like the poor would have work till death?
Unless I am you, SIR, I don not think I will feel rich if i am this poor old man.

In my opinion, I don’t want to be treated like this when I become a poor old senior citizen in 20-25 yrs time.
Perhaps, the other country can provide me and my children a better retirement plan. Hmm… Maybe I should work oversea for a few years while I am young and see if there is other better place for me and my future generation to live in.
I do not want my future generation to suffer.

**edit
* In my opinion, I don’t want to be treated like this when I become a poor old senior citizen in 20-25 yrs time.
In my opinion, I don’t want to be treated like this if I become a poor old senior citizen in 20-25 yrs time.

Mr Leong can be a good opposition MP to question the ministers in the parliament. Then mee siam my hum will shiver and can’t answer properly.

It’s actually a very minor mistake.

It should not be “CPF statement” …. it should read “payslip”.

Hey,

Our esteem minister is right !

“…..the best part is, I know the CPF money won’t run away. CPF will still be around for a long, long time to come… ”

Yeah…only problem it will be far far away from you as the MS keeps increasing.

16) spore on October 13th, 2008 3.08 pm

Are you Mr. Lim, too paiseh to announce it in the public media.

No problem, a special category of honest mistakes has already been invented and reserved for a special class of people like you.

Talking about medisave. it is also your hard earn money contribute to cpf, but cpf board will make it difficult for you to claim if you need.

below is extract FAQ from cpf board :
==============================================================
Q: Is there a limit on how much Medisave I can use to pay for the treatment of chronic diseases?

A: Yes, the use of Medisave to pay for the treatment of chronic diseases is subject to a yearly limit of $300 per Medisave account.

Q: Is there a limit on how much Medisave I can use to pay for the treatment of chronic diseases?

A: Yes, the use of Medisave to pay for the treatment of chronic diseases is subject to a yearly limit of $300 per Medisave account.

Q: Why do I still have to pay the deductible and co-pay 15% of the bill for the treatment of chronic diseases? Can’t I use Medisave to pay the full bill?

A: The primary use of Medisave is to pay hospitalisation bills. The $30 deductible and 15% co-payment is to prevent a member’s Medisave from being prematurely depleted, so that he will still have adequate Medisave savings to pay his hospitalisation bills, especially during old age.

Q: Will I be able to use Medisave to pay the bill for my outpatient treatment for chronic diseases in full?

A: No. For each bill, you will first need to pay $30 (known as the deductible) of the bill. After which, you will need to pay 15% (known as co-payment) of the remaining bill. You can then use Medisave to pay the balance of the bill, after the deductible of $30 and 15% co-payment.

A: No, the use of Medisave to pay for the treatment for chronic diseases is subject to a yearly limit of $300 per Medisave account, regardless of the number of patients one is paying for.

For example, even if you are paying the outpatient treatment bills for both your parents, the maximum amount you can withdraw each year is still $300.

Q: Which chronic diseases can Medisave be used for ?

A: You can use Medisave to pay for outpatient treatments of the following chronic diseases:

Diabetes : From 1 October 2006
Hypertension, Lipid disorders
(eg. high cholesterol) and Stroke : From 1 January 2007
Asthma and Chronic Obstructive Pulmonary Disease (COPD) :From 1 April 2008
==============================================================

of course our cpf money are well protected and will not go away – if not where is minister ‘I-feel-rich’ going to get his paycheck from?

problem is we won’t be able to touch it even if it’s there. a few years ago I was planning for semi-retirement at 55, now have to revised it to 62.

don’t play play, with the way the policies keep changing, by the time you reach 62 you may have to pay INTO the minimum sum – fat hope if you think you are going to get anything from you cpf.

5) Cost of Living changes on October 13th, 2008 1.05 pm
Where shall the Buck stop?

Two ways the buck will stop:
1. we buck the trend and vote play-and-play out in the next GE; if not,
2. wait till we kick the bucket.

A quick look at CPF’s website:

Introduction to CPF

Secure your retirement.
Among Singapore residents aged 65 in 2006, 67% can expect to be alive at age 80 and 47% at age 85. This rising life expectancy means a change in the way we support ourselves.

Like it or not, the facts and figures are very real:
Number of Singapore residents aged 65 or older…
2007 . . . . . 305,600
2030 . . . . . 795,900 (Wah . . . projected figures can qualify as fact).

I remember when CPF was first introduced, we were told that we would be able to withdraw our CPF savings in our old age – 55 at that time.

Now they tell you “Like it or not” – wah . . . take it or leave it man!

Now listen further to what the CPF board says in its website:
‘Supporting and caring for a rapidly aging population will be an increasing strain on Singapore’s younger generations. Today, 8.5 economically active persons are supporting one elderly. By 2030, only 3.5 persons will be supporting one elderly!’

After keeping the monies of our fathers and mothers and refusing to return them the monies belonging to them, they have the cheek to now tell our sons and daugthers that our parents are now a ’strain’ to them because they are “rapidly aging”.

After setting up the CONNING PEOPLE FUND which at first conned our parents, now they want to con our children as well. How long more are we going to be conned.

Are you mocking me?

Why the timing of the CPF changes came at the time the integrated resorts and casinos projects are up-going. CPF money probably is used for funding and financing these two mega-icons to bring in wealth for Singapore! I can’t help but to think that the mininum sum keeps going up could be due to this.
More and more old people are entitled to withdraw their funds from the CPF board. To stop “a run” rather than to be so concerned that the citizens have not enough for old age is the very reason for this change.
I mean I am entitled to “feel” this way just like Mr Lim SS “feel rich” about his CPF with the Board.

22) pillow on October 13th, 2008 4.30 pm
After setting up the CONNING PEOPLE FUND which at first conned our parents, now they want to con our children as well. How long more are we going to be conned.

That’s why the fate of our country now lies in the hands of our new younger generation to make the changes or else they too will suffer. The power lies on the true singaporean, the choice is yours. I am not into any opp party or political stuff but whether the present ruling party or next elected party, singapore needs change for sure.

do you know that there is a difference between what is Principle Guaranteed & Principle Protected?

I was reading the Chinese MSM when i came across this small box explaining the difference.

maybe the Minister was trying to tell us something

Hi,

I saw the youtube video of Sze Hian speaking at Speaker corner 11 Oct. You mentioned about not making all the eggs in one basket essentially prudent risk management.

I remembered seeing an article early in the year by I think FT that GIC and Temsaek combined had invested USD$40 billion in the last 2 years 2006/2007 in financial institutions. Notwithstanding the merit of each investment, there is a serious question of risk management. GIC and Temasek combined was the biggest investor during this period of all the SWFs.

It is time that PAP MP think of themselves first as Singaporean and raise serious question about this kind of risky investment strategy. It is always easy to take risk if it is not your money.

Even secondary school students can do it with only pencil and ruler.

Pick up some data points of your favourable variables and give it some twist & spin (e.g extrapolation lah and throw in some statistical jargons like deviation, margin of error, percentile, Minibond, popcorn, Megaton, miniskirt, lollipop,etc) to confuse the uninitiated and make it sound as though they have any scientific basis.

Even big insurance companies & banks (who are supposedly experts in the business of statistical risk analysis) can get into trouble. So do you still think those statistical guys are really experts.

Read between the lines of the “Sweet Say”, if you put your money in CPF and don’t “invest”. You are making that healthy 4% interest (actually the 4% interest only applies to a certain amount cap, after that cap the other deposit only gets 2.6%).

So reading further between the lines, this message is to tell those minibond investors “This is your own fault, put your money on CPF then no “dai ji liao” why “backside itchy” take out to “invest”.
Put the money in CPF lah no problem. Blame yourself!!

I think that is what really mean if you read between the line that say “I feel so rich by looking at my monthly CPF statement……..”.

Its nice to see the CPF statement until one doesn’t get the money. In fact, we’re not really sure how much money will one get anymore. At 55, we may make a choice but the life payout is dependent on so many factors.

In fact, where insurers like AIG can almost collapse, how truly safe are CPF monies?

But you [in contrast] have insulted (humiliated, dishonored, and shown your contempt for) the poor. Is it not the rich who exploit you? Is it not they who drag you into the law courts? If indeed you [really] fulfill the royal Law in accordance with the Scripture, You shall love your neighbor as [you love] yourself, you do well. But if you show servile regard (prejudice, favoritism) for people, you commit sin and are rebuked and convicted by the Law as violators and offenders. James 2:6,8

[ God Is Working Behind the Scenes ] “So, Job, use your head; this is all pretty obvious . . . Doesn’t God always tell it like it is, exposing corrupt rulers as scoundrels and criminals? Does he play favorites with the rich and famous and slight the poor? Isn’t he equally responsible to everybody? Don’t people who deserve it die without notice? Don’t wicked rulers tumble to their doom? When the so-called great ones are wiped out, we know God is working behind the scenes. Job 34:16-18

“how truly safe are CPF monies?”
Indeed, I doubt that CPF is safe as it is all paper money shroud under the secrecy of our government and even more so, when government do not interfere with decision of Temasek Holding (Really, it is time that gov reveal whether CPF is used by Temasek for investment, either Yes or No rather than beat around the bush). Remember the dot com where transaction is mostly carried out in paper money, one that is easy to inflate using mouth without proper valuation. When the gahmen talk about managing $300 billions investment, it makes me wonder whether it is their own “independent evaluation” or one that reflect actual market sentiment.

Pastor Pritam Singh,
are you a real pastor ? If so, it is rare to find a paster condemning corruption in Singapore ruling party. Hope there will more pasters like you rather than pastor who just pretend to close one eyes to happening in Singapore.

33) Daniel on October 13th, 2008 6.19 pm “how truly safe are CPF monies?”

Aiyoh, daniel. “A bird in the hand is worth two in the bush.”

Imagine someone has better control of your own CPF money more than you.

This is what I call 1st class property right. Our brains are so screw** up that it has taken the easy path to retirement – and we are so willing to second our thinking to some rubbish dispenser who will happily do it for us as though it is granted.

Like it or not, CPF is trying to go back to its roots of providing for your old age.

The minimum sum is one step to ensure you get a monthly payout. Rules are slowly tightened so that you will meet the minimum sum.

Okay, it’s still not enough ($145k over 30 years is just $402/month), so you can be sure that more will be done.

I’m thinking perhaps something is wrong if we “save” 34% of our paycheck and yet we still can’t afford to retire? (Make no mistake, the employer’s contribution is part of your salary too.)

I used to feel so rich looking at my CPF statement.
Alas, I couldn’t make use of it when I was alive.
I really wonder where it has disappeared to now.

As the time goes so bad and the gov not able to foresee and made precautious measurement., they are revealing to us that their being first class elite in the world or even in Singapore alone is a LIE!

As scheduled, there will be another round of pay hike for the top civil servants and the ministers at the end of this year, i think we must protest and let Singaporeans know that they are not fit for that.

Our request will be: NO pay increment for the senior ranking civil servants and the ministers. NO bonuses for the ministers as they cannot or will not solve the problem for the DBS victims. CUT pay by 25% to 50% of the management level in MAS as they actually did not manage to regulate and supervise the financial trading situation in Signapore with a TOP class world level, we only see they are not much better than those officials in Western countries and Hong Kong.
Hope everybody support this and spread it around as there should be some actions taken and not just talk for fun.
Thank you.

30) lim on October 13th, 2008 6.10 pm Its nice to see the CPF statement until one doesn’t get the money. In fact, we’re not really sure how much money will one get anymore. At 55, we may make a choice but the life payout is dependent on so many factors. In fact, where insurers like AIG can almost collapse, how truly safe are CPF monies?
They seems to twist and turn with figures knowing that majority of the old folks are laymen and will somehow be confused and just do not know how to ask what happen to their monies. Ask any layman on the street about where are their CPF money goes to and I am sure most of them would still be blurr.

A good man who has already gave advanced notice of his impending retirement. Yeh plenty of CPF money following the president and all the ministers – surely happy lah !

But do not forget that one cannot bring the pile of paper money along on judgement day.

I give it to his poor english – he has a honest heart; a rare minister but found him along so so many others in PMO’s office. What a waste of a real talent in the created redundancies.

38) stop their increment on October 13th, 2008 8.17 pm
Since when did the garment ever consider the protest of the citizens on the increment of those pap ministers salaries? they just go ahead no matter what you ppl think is not important to them. They can even tell you on your face that they deserve these $$$million salaries “to avoid corruption”? this is no difference from being corrupted. Name me which country in the world pays their ministers such obscene salaries? can anyone know of?

NTUC = Never Trust a Union Chief (especially a PAP appointee!)

Lim Swee Say is trying too hard to be part of heartlanders.

Why? Because he conveniently forgot that all ministers are under a special government guaranteed pension scheme, which pays at least $176,000 per annum from age 55. A minister can be drawing both his regular ministerial salary as well as this pension.

Ordinary S’poreans have to make do with the crappy CPF scheme.

“Every month, when I receive my CPF statement, I feel so rich and the best part is, I know the CPF money won’t run away. CPF will still be around for a long, long time to come… Not only is it earning good interest, my capital is protected.”

I know (individual) Singaporeans have been hurt; they have invested in Lehman Brothers mini-bonds, in High Notes … and more have been hurt investing in equities,” he said.
.
“But that’s life — if you want to have a good rewards, you’ve got to take risk.
.
“Otherwise, leave your money in your CPF … Four per cent is a fabulous return without risk. Singaporeans complained it was too low, (but) now they know the meaning of a capitalistic existence.”
.
tThese people are totally out of touch with the real world

Use your vote wisely, this is a wake up call for the 66%

“Because he conveniently forgot that all ministers are under a special government guaranteed pension scheme, which pays at least $176,000 per annum from age 55″

WHAT’s THE FART ! Can we pay them in billions of Hade currency ? Better than corruption, better than the real thing.
Heaven really has no eyes.

hey Daniel…
not heaven have no eyes…
is singaporeans have no eyes..becos sing pp votes them ma…
hai hai hai….

SING PP,we need hammer to hit lighting..Come on.

I am gald I emigrated from Singapore in 1991.

I told out all my CPF the years I landed in Canada. At that time the SINgapore govt allowed us to withdraw all our CPF just by proving that we had given up our SINgaPOOR “onlinecitizenship”. Well thank you PAP, I used that money wisely…I live in a 3 -car garage bungalow in Edmonton, Alberta.

Friends, I encourage to all Singaporeans to at least think of the option of immgrating away from Singapore. Get a foreign passport and then go back to work and live in Singapore as a FT. You are treated better as FTs back in your homeland.

<<>>

Do you know that many of the casinos in Las Vegas sits empty now. Also the Sands share has fallen by 90%!!!!

There are “reliable” rumours that the Singapore casino projects are intentionally delayed for 6 mths.

Do you know that China is limiting the visa for its officials to visit Macca to contain money laundering and I see that they are doing it stragetically to prevent money laudering via casino gambling in Singapore in the future. So if the two huge casinos in Singapore expects to tap on Chinese officials, then it can be a “bad” bet right from the start.

I can forsee Sands going under, and thus not able to complete the building of the “world’s most expensive” casino. If thats coming into past, and the govt then drastically incease the minimum sum (to say $500,000) and shift the withdraw age to 71 or even 85 and worst to come is that the announce that in the even of death of the contributor the CPF rollover can only be to the spouse and the children will not be able to inherit the CPF..then what you speculate is 100% true.

The PAP can do anything they like bec. LKY knows Singaporeans are the timid sort and live in absolute fear of HIM the ALL MIGHTY.

exSINgaporean,
thank for sharing. What’s a brutal truth !

“There are “reliable” rumours that the Singapore casino projects are intentionally delayed for 6 mths.”
No doubt more PayAndPay scheme coming on citizen’s pocket within thenext six months with MSM’s bragging about how Singapore’s economy has improved and therefore warrant price hike as usual or better still, world getting expensive so thing more expensive in Singapore.

By the way, old fart once says that Singaporean no need to retire and I’m sure he means it. The old fart might be senile but it comes to getting money, it makes him feel young and restive.

25) tiredsingaporean on October 13th, 2008 5.31 pm
That’s why the fate of our country now lies in the hands of our new younger generation to make the changes or else they too will suffer.

Cannot agree with you any more than this. We are banking on the younger generation to get more involve in making the changes we sorely need for this country we call home. The older generation have been so conned-out that they are still in a daze and every once in a while the govt continues to make sure they remain in such a state.

38) stop their increment on October 13th, 2008 8.17 pm
As scheduled, there will be another round of pay hike for the top civil servants and the ministers at the end of this year, i think we must protest and let Singaporeans know that they are not fit for that.

Mark my words – when all the turmoil blow over without the ministers having to do anything, they will step in to claim credit that it was them who managed to pull us through the storm. We then have to pay them more for doing so. Anyone wants to lay a bet on this?

39) tiredsingaporean on October 13th, 2008 8.20 pm
They seems to twist and turn with figures knowing that majority of the old folks are laymen and will somehow be confused and just do not know how to ask what happen to their monies. Ask any layman on the street about where are their CPF money goes to and I am sure most of them would still be blurr.

This is the Truth man! By the time you unravel the details, you would be preparing to go meet your ancestors in the other world, CPF my foot!

Getting the minimum sum is heavily dependent on the long term CPF interest rate maintaining at 4%. If and when it falls below that rate, there could be a significant number who may not even reach the minimum sum.

i wonder why the people up there always like to talk cock. not anymore. you see i realise that it is simple: if they earn $3 million a year and you earn less $0.02 million (or $20,000) a year, surely their world is in the ivory tower is different from yours.

When the economy was good in 2006 and first half of 2007, our leaders refused to fully restore the employer CPF contribution rate. Instead our leaders went the opposite direction by allowing any Tom, Muthu and Xiao Zhiang to work here, thereby depressing our wages.

We took severe pay cuts in 1997/8 and 2001, but when times were good, the govt forgot about our sacrifices. What kind of social pact is this???

50) gemami on October 14th, 2008 8.56 am
Hey gemami, now you know why my nick is tiredsingaporean huh! Been doing alot of calculating some 10 years back still could not get the figure right, damn it!

The actual quote was: ”The best part is, yah, I know the CPF money won’t run away. CPF will still be around, ah, hopefully, for a long long time to come, not hopefully lah, for sure lah, for long long time to come, you know.”

What you mean by hopefully har? Let something slip issit?

And with the upcoming recession, the typical sg solution would be to cut employer’s cpf contribution to boost productivity and export competitiveness. Classic case of having the cake and eating it too?

54) tiredsingaporean

take it easy man.

look at the horizon – always clear and blue but never reaching there – never.

will S’poreans “feel rich” too in retirement….

hahas/..joke…should say

WILL SING PP FEEL RICH WHEN THEY DIE but STILL HOLDING YR CPF MONEY,,BUT ONLY IN CPF PAPER….

hahas…happy until die..so good.

to 48) exSINgaporean,

need how much money for emigrate…??

i really wonder…and i really wants to…
hai..tired living in the rotten country and some rotten pp tat vote *******

if pp know how to emigrate..?
let me know..
thank.:)

Rich? got to be kidding, i just hoped that i won’t be poor, that’s all.

57) victor @young ganeration@ on October 14th, 2008 10.30 pm
to 48) exSINgaporean,

hey ‘victor’ – cannot let you run away man. this place needs people like you. if you run away and everybody like you run away, then people like me who are stuck here because i have family here, because i want to fight for freedom here etc – how?

already, we are going around trying to get the 66% to see the real picture because they cannot continue to shake legs – see, too much shaking legs, now whole country shaking!

Sweet Say,

Please stop your nonsense and tell me what grand policy u have for the unemployed, the underclass, the sick and needy. Tell me that all the money collected every month from ntuc membership is put into good use? Where have these money goes to? Will these money helped the unemployed to be retrain? All these crap of feeling rich when u see cpf statement makes me want to puke. You can see it but you cant touch it till the goal post is firmly set. currently at 62. Who knows when it become 82?

Your job is to get people with no job to find job, and not sprouting nonsense to make people angry. You are paid $150000 a month to do something worthwhile and not CBL and Talk cock. Please bear in mind who are your employer, is the people of Singapore. Not LKY!

FG

Dear 60) gemami on October 15th, 2008 8.13 am,.,
hahas..
i just want to know for emigrate,,
but battle will need to…

if we left only 10 pp against 10000pp..
we still will fight…
even if we know tat we will lost…but at least we try…
and i believe at god is arrange all the thing in order..

if u look at china history.
all the hero only came out when difficulties times…

only we guy could against it…
BAttle on next election BA..
singaporeans..

i would not give up my singaporeans citizenship..
becos it is count as batrayer in the past..

the battle is coming.. :)
u guy must live well until next battle field..

stand up,stand up for singaporeANS.

How many 66% voters represent ? 66% is meaningless. 66 person also can be 66%. Qualifying it with actual figure make more sense. Does 66% include those that did not vote and is walkover ?
Reading this http://www.opinionasia.org/node/44 actually sound confusing. So why does these percentage actually means ?

” PM Lee’s 66 per cent win at Ang Mo Kio GRC is a signal that we want to go beyond the material.”

I think we singaporean will die a lonely, painful death, even the little penny we have are sucked by these blood suckers PAP. They invested on the wrong and we bear their problems. How long are we going to suffer under this ridiculous and incorrigible regime? I don’t think I will see my CPF money lor. $300 for medisave for chronic diseases. Do they know the meaning of chronic, meaning going to die liao and cannot use medisave to pay the bills also. So we must work till we die while the regime enjoy their CPF savings which will never run away! This is an insult to any singaporean. 66% … I think next time they wont even have a percent of our votes!!

Before we blame the ministers etc etc, let us all take a good look at ourselves.

We were the ones that voted them into power.

So, we’re not really supposed to complain about the high cost of living, the DBS finanical fiasco, callous ministers and many other problems as we have signed up for this, knowingly of course, as shown in the elections.

So lets all move along and stop whining about those who were allegedly swindled, about those who cannot afford to live in singapore and many other things shall we. To those who made losses, I would say its an investment gone bad. For those who cannot afford to live in Singapore, I guess its a Darwinian process of survival of the fittest. Surely when you voted, it was clear that pragmatism who be the order of the day.

It is counterproductive to criticise ministers trying their best to do their jobs. Or limit the capitalistic nature of banks, they after all are running a business.

Singaporeans please, stop whining and carry on with your lives.

Isn’t this what Singaporeans are famed for?

Remember the great saying of Ms Wee S M ?
“life will kick you in the balls”
Note the tone of voice (or words, at least) from both Ms Wee and Mr Lim. Do you find something similar?

Clueless, let us not deceive ourselves because that is what the pap would have us believe. tell me, in which democratic country do you see 35% of the population who have voted for an opposition party gets only 2 representatives in parliament?

this is manupilation at its extreme best.

when you say, “We were the ones that voted them into power”, please do not make such sweeping statement to include me. I did not get the chance to vote because of this manupilation – think grc?

Your other accusation, “Isn’t this what Singaporeans are famed for?” is typical of what the pap would have us believe. Tell me, which country do not have citizens complaining about the lack of support from their governments on bread and butter issues or when their basic needs are overloooked?.

Worse, they take to the streets to make their points. We have been so good to this regime and the saddest thing is that the better we behave the more we get accused of being bad, of being whiners. If only they would pay closer attention to the whining! It’s all we hope for.

If they could not find it in them to help us, then who would? Are they not the rightful people we should turn to in times of national crisis.

So, save your msm preaching and take some time to listen a little harder on what we are saying. We have to carry on with our lives without you advising the obvious, thank you very much.

We just hope for some help at this time of need. The least we would ask of the govt is not to brush us off like you just did.

Shame on you!

I still wish you all the best and hope you do not have to live through what most of us here are expressing.

remember how our leeders were always harping that our reserves were only meant for use on rainy days? well, well, the storms have arrived. what we’re seeing now has been compared to the great depression in the ’20s.

so are we going to see our reserves put to good use – ie to help Singaporeans NOW? my bet is they have changed the tune: these reserves are for “long” term investment only. and the reason? because of the very poor investment decisions made by the gic etc.

of course, in the long run, all of us will be dead…

hahas..RIP,,not bad.

clueless,,
when in the election,
do pap say,,
WHEN I BE GOV,,,,I WILL INCREASE TO 7 % GST..
ERP BUILT MORE MORE…
TO ENTER THE ROADS TAT HAVE ERP WILL INCREASE more more..
ELECTICITY INCREASE INCREASE….
more more more…don feet like saying le….WE LOVE MONEY,BECOS OUR MEMBER NOT ENOUGH MONEY,,SO SINGAPOREANS GIVE MANY MANY BA..

hey ,,,use yr brain and think…
do they use tat reasons to win the election..??
ofcos not…they did.,,GIVE MONEY.. VOTE ME…AND LATER ON,,U GIVE BACK MORE MONEY TO GOV..

hahas…joke…
this is just a game…only clever pp will really look into it…

but do clueless clever..?? i hope u r.. :)

Personal thinking :
altho many do not know what is going to happen to their CPF in terms of the policy changes that may be introduced up to their retirement time, believe me, no one will do anything about it in terms of voicing up.

sporeans do not voice up and then when their own money lost, these who do not voice up looking desperately for someone to help them voice up.

what a …..! investors must be held responsible for signing a contractual document that is legal binding. YOU R RESPONSILBE.

just my personal opinion.

huat ah!

what a joke from minister. doesnt he aware that only he and pap alike feel rich when looking at their cpf? normal peasants sgreans can only sigh looking at their monthly bill etc.

also, dun depend on cpf for retirement. most of us wont be living long enough to use our money which lawfully but dishonestly retained by gavern for their own greed. where do u think they can come out with more than tens of billions to bet in foregin bank, and lose more than half of it in couple of months. worse off, to make up the losses in their bets, they have to make sure sg inc generate more profit by raising prices up everywhere from food, petrol, mrt, bus, electicity, water, etc …

sgrean would suffer as a results of this endless pursuit for glory and greed.

wasn’t it the govt who encourage people to invest their cpf funds?

and all those posb and dbs are government-linked companies who have staff who conned people to buy all those structured products so that they can earn millions and now all those old aunties and uncles will be left without their coffins principals.

Only in Singapore, it is cheaper to die than to fall sick! As mentioned even if you suffer from a chronic illness which in literally terms implies imminent death, one can only utilise a bare minium of only $300 of ones own cpf per year!!

Who is this government to dictate who lives or not. Hey, its my own money! In fact one should be able to use our medisave even if one wants to do a ct scan or mri to check our own body as a form of preventive illness in future.

Next we be hearing that only at a certain time can one flush the toilets, or take a shower. If you comply there will be a discount in your utilities bill! We have had toomany do’s and dont’s and can and cannots for way too long. It’s the year 2008 don’t they reliase this. The rich are getting richer, the middle class want to climb higher but don’t want to go drop lower. The poor are hoping for a break but definitely don’t want to go further down anymore. Welcome to life in Singapore no thanks to our present so called government of the people by the people for the people as it should be. It’s actually the government for the governmnet by the government for its own kaki nang!

the best thing for older singaporeans to do is to migrate once he/she hits 55. sell your property, take out all the money in CPF, and move to a cheaper place to live where your money enjoys a better exchange rate.

this is how the system is designed. after 55, go! and the minister is right. by the time you hit 55, your cpf will be bulging. you will feel rich. but you can only enjoy your richness by going away.

but if you choose to stay, tan ku ku to see your money. it would run away. it just keep wriggling away from your hands.

amen.

Very well said. Since the government always say we are old at 55 and we all have to retire at 55 except certain people not too mention names who have no retirement age , then to enjoy our rich CPF money as LSS said , migration to enjoy every single cent that belongs to us seems to be the only option.

We will never be able to enjoy all our medisave. Even if we never need it we cant touch it. That’s the biggest joke of all.The government thinks we need them to think for us. Whta do we have a brain for if not too think with it. So now our brain also they wanna control. See bey suay live in singapore. Yoda says: Control, control mind what you learn . Save you it can. In singapore the government policy is: Control control, we must control the people with full control in case they learn to understand and vote us out come next election!

How come this topic now so quiet? Is it because everybody now feel so rich; or; is it no one has retired yet?

Dear Singaporean,
CPF original aim was equivalent to a personal pension but over the years it had changed into a fund for health care, beside the obvious one buying a HDB flat. I am profundly concern that for many lower paid workers there be insufficient fund to support them during their old age. I had to move oversea to start my pension as I had used up most of my CPF for my sick father who later died of bone cancer.I am one of the lucky one who could escape as I had UK PR status stamped on my passport. Final salary pension is allot better as one is fully aware of the amount of pension one would receive based solely on one final salary. Purchasing a house is strictly a commercial transaction with either a bank or a building society. The loan/mortgage is paid using one salary on a monthly basis. Gahment should not be in businese making money. Their elected role is to govern . Businese should be left to the commercial world and they being in government should regulate it. When government is in businese, there are bound to have conflict of interest. Just imagine, they make the rules and set the price, what chance have we got?