Excerpts from Sgpolitics:
More twist and turns have appeared in the CPF Life scheme, an annuity scheme to be administered by the CPF Board that promises to give lifelong payouts to CPF members.
On Monday in Parliament, Manpower Minister Gan Kim Yong found himself clumsily trying to reassure Singaporeans that monthly payouts from the CPF Life scheme will continue as long as the CPF member is alive, despite a provision allowing the CPF Board to stop payments in the event that the Lifelong Income Fund becomes insolvent.
Madam Halimah, chairman of the Government Parliamentary Committee for Manpower, had earlier noted that she found this clause “quite disturbing“.
Read the full article on Sgpolitics.
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Charles Ponzi as inventor of ponzi scheme,
isn’t ours should be called leezi scheme then ?
Inventor of leezi scheme ? You ask me, I ask Who ? find your own answer.
hi Mon,
////everybody knows the thing about the truth about the CPF but do we dare to do anything about it.////
what can ordinary folks do?
so much losses at Temasek, GIC, MAS etc… you want your CPF? more and more schemes would be implemented that few can withdraw anything at all.
our government always take care of themselves, not the people… i am sure you know.
Never trust a government who doesn’t trust its citizens with handling of their own money.
Sad Sad Sad.
Dunno when it is going to end, I think when they found out
that singaporeans can swallow NEWATER, they can swallow anything thrown at them. But who dares to say anything?
Have anyone has an idea what the list of medical aliments that the medisave can be used for?
Wouldn’t it be more economical to buy an insurance policy that subsidises our treatment than to hog huge savings in the medisave rather than use it for retirement?
It is actually than you have so much in the medisave but you cannot use them and you cannot stop working. Only when you die or dying then you maybe able to tap on those monies. You save for a long period for an possibility that the authority can modify the rules of usage. You may not be able to use the funds for a legitmate disease.
Remember there was this insurance scheme run by CPF and there were families who took 5 years to manage to claim the monies back from CPF despite the deceased being dead for at least 5 years.
The attorney general needed to scold the CPF board for this. after 5 years.
And the “minister of labour” wants us to trust the CPF board with the life scheme.
What a joke.
to KopitiamApek:
It also doesn’t change FPC’s argument that the land sale is to suck up all the liquidity due to the quantitative easing in the early 2000s.
A lot of HK people didn’t know the govt put a cap on the amount of reimbursement for the mini bonds.
They thought our govt is very generous.
57) mon
///////// It also doesn’t change FPC’s argument that the land sale is to suck up all the liquidity due to the quantitative easing in the early 2000s./////
I do not have the info to make an informed comment on that. I was just providing some backdrop on the land use plan.
Heng Ah!!! Lim pei emigrated and chao-law years ago. With my new passport, I have already emptied and taken out all my CPF monies and now living in a big house with wife and son.
And talking about my son who is born in the west, he does not need to do NS. Every few years, I will bring him back to Singapore to remind him what his old man has done to give him a better start in life. LOL……
To all you young and/or capable Singaporeans out there, what are u waiting for? The writing’s on the wall. Do u really want to wait till the day the PAP tells u the kitty is empty before u start planning to leave this island?
to KopitiamApek;
standard pap comment style
61) FPC
Noted your point of view, which is reflection of your black or white world?
60) Observer
Thank you for making this island a little less crowded.
The coffin is a very good picture of what is the final resting place of my CPF. You cant use much when you need it most but you contribute half your life time towards it. CONTRIBUTING your PAY FOREVER C.P.F
i have a question,
National Reserve need two keys to unlock,
CPF logo how come got three?!
O.O
65) mice is nice
Actually all 3 keys can no longer open the lock
The lockset has since been changed to AMS, the card access system thingy you use in hotels, which can be re-programme again and agian and again,
hi KopitiamApek,
“Actually all 3 keys can no longer open the lock
The lockset has since been changed to AMS, the card access system thingy you use in hotels, which can be re-programme again and agian and again,”
which ah loong did it? >.<
to KopitiamApek:
Black or white world, when money is due, money should be paid.
If you don’t fight for your own, don’t regret it when people take your money away.
to KopitiamApek:
I also don’t understand what you are getting at and you ended up with a black and white analogy.
In any case, it is typical speech, that con people pull out to avoid doing the hard work and thinking.
hmm so you get paid from 65 untill you die and the money goes to your next of kin?
TRY ASKING CPF BACK FROM TEMASEK GANGS ?
IT WILL BE EASIER TO ASK A TIGER FOR ITS FURRY SKIN !
The CPF would never be withdrawn and mostly stucked in the cpf account till one passes away. Too much losses and changing regulations and conditions and scheme to lock up our money.
How can anyone expect to get back their money when they are forced into Con-man Private Fund ?
Will con-man making use of law return you money willingly ? Not unless you fight for it !
Since when con-man becomes conscience-stricken ? Oh… and you have con-woman living a life of no regret too !
The money in your cpf statements are just digits to show you people that its still there, get it? don’t you people realised it by now that they keep changing the rules just to keep you people away from withdrawing out your money, there is no more money left anymore, stop dreaming and get real for once!
CPF LIFE scheme is being forced down our throats.
If it is so good, why the need to?
I smell a rat somewhere.
Ponzi scheme in the making I say.