I ran a failed business venture, now already paying debts back in instalments
Outstanding 3.7K
Correspondences from CPF was to pay 1684 and the rest by instalment, i do not even have the spare cash to pay the 1.6K, let alone the instalments, as i m the sole breadwinner of the family with 1 dependent.

As i cant afford to buy a home, and have around 80K in the ordinary account I was told that the minimum sum would be removed this year at 55 and that i could choose an annuity, pay out at 67 years old. Principal sum can get at 85years….!!

I was told that after the sum is withdrawn then i can buy flat but at 90K i would be less able to afford bec minimum sum would have been removed. I then requested cpf board to apply for license to beg, since from 55 to 67, i have no salary income or other means of support.

They sent me a curt inhuman letter which i still have, if TOC is interested to post.

I am now seeking for alternative citizenship as my total amt spread across medisave special account etc is about 100K, more than enough to buy a nice property in the US.

Most people want to get out of a system which clearly is out to get as much money out of its citizens. It shakes our confidence regarding our reserves. We cant be a rich country if citizens are continually pressured to Pay And Pay, while Ministers are collecting pensions, million $$ salaries.

So.. did the persons concerned got satisfactory reply from the CPF Board?

Anyone care to share what’s the latest development with regards to the above matter. Any ‘advice’ from CPF board?

A second more global question… is CPF running out of money such that it is trying to recover as much as possible?

Nowadays, hospital visit is classified under various rank for doctors ie junior, senior, consultant etc. Of course to have more subsidize, you cannot choose your doctor, otherwise, classify under private patient, and your bill shoot up 3 times!

Blood sucking rulers of this country, hope the real Tsunami will sink this little red dot, and then see if they can still use our monies! Dont mind dying with them!

They said more good years to come
but actually for themselves!

They said you people are DAFT, why are they still working for daft people?

Dear readers, please carry on adding to the list.

Thanks,

P.S: Also, the paradox thinking of many Singaporeans (government officials) is: If people like Jane have the $$$ to go & stay abroad, they have the $$$ to pay up!

What they do not know is: Many SG girls are also very clever. They know that marriage (to the ‘right’ guy! ;-)) can change their whole life destiny. So people like Jane had, in my opinion, took that way out to escape their destiny in their own homeland.

So if they are abroad because of a marriage which have gone sour & ended in a divorce or something, how can they have the $$ to pay then?

IN my opinion, the CPF (and the government too?) should be sympatetic to ‘woo’ these SG ‘brains’ back to homeland instead of implementing rules & schemes to get $$$ from all Singaporeans without being concerned if they can manage it or not. These overseas Singaporeans are still a part of Singapore. If they can crave for Hawkers’ food overseas, they will crave also to follow the local news at home. So how can they return to their homeland when their own chances of survival is lesser than that of their adopted home somewhere else in the world?

The thing is: with cases like those of Jane’s, she was unable to pay then & also unable to pay now because like what you mentioned, she is a struggling self employed person, then in Singapore & now wherever she is in Europe.

I believe what the CPF wants people like her to do is to pay up the ‘old debts’. Even when CPF changes their scheme now, it won’t help persons like her in her situation. So either ways, she have to pay, regardless of whether she is struggling, or not.

These people doesn’t have a guarantee that all would be well so they postpone their decision to return home & contribute to the society.

I guess this should be (also) what CPF should be concerned about. People like her might be probably one of the best ‘brains’ in SG who has gone abroad because life in homeland is simply too difficult for a self-employed person like her.

So my fellow Singaporeans … Let us unite to see this Change!!! Even those operating the Medisave system in CPF wants the system to CHANGE!!!!

Running a business in Singapore is stress especially when during the economy downturn period.

Since the IR opened this year, many traders have been affected by it. Businesses have not been good since then. The purpose of IR is to bring in revenues to Singapore. And businessmen also needs revenue from business. If business is in bad condition, how is a businessman going to cope with those bills?

I believe every businessmen facing the same problems that are, i.e. landlord increases the rental on next tenancy renewal term created. The high SP monthly bills and others government and organisation bills which could not be defaulted.

Medisave is a nation savings scheme for businessmen who do not have savings.It is good to have a savings for future hospitalization usages.

But, the problem is, if medisave payment keeps increasing every years, then it would be hard for businessmen to cope with. If one cannot afford to pay the amount,the business license could be supsended. Which I think is unfair for businessmen.

If lincese got supsended because of their outstanding medisave balances then their business could not be operated and could affect their income.

CPF board should review the current computation method and enforcement act, to allow businessmen to continue running business and to charge less medisave if business revenue is in negative profits. Since businesses are bad, then where on earth can a businessmen to find money to cope with bills?

I believe that some businessmen have used credit or overdraft money to pay for the bills and in the end, owed bank the outstanding amount.

Therefore, I hope CPF board would consider lowering the monthly medisave contribution for those self-employed guys and upon on reaching a limit of $36,000, may grant businessmen to stop further contribution.

Hopefully, CPF board could do some changes to benefits and offer win-win solution among traders and CPF.

Thank you.

Be merciful