CPF was "100 per cent safe''

(24-06-2014, 05:29 PM)GPD Wrote: In some countries, they don't allow foreigners to withdraw their CPF/pension fund. They are only allowed to transfer to a CPF-like or another pension fund in their home/next country. I haven't read on CPF to know whether foreigners withdrawing CPF is the above or they simply regained total control of this monies.

And how will this benefit Singapore?

(24-06-2014, 07:58 PM)Zelphon Wrote: Good one..

If war breaks out, I will run..
I am not ashamed to share this...

Unless my family can be kept safe, running away is my 1st priority..
If cannot run away, then fight to survive lor...

C'mon, what is there to defend in this country anyway??

Now is already 60% citizens only...

We do not own any assets in SG anyway.. HDB is not an asset...
I will not risk my life to defend the Good Class Bungalows of the rich and PAP MPs...

At the rate rich millionaires coming into SG and farked up benefits between Foreigners vs Citizens... I really do feel 2nd class in my own country burdened with NS liabilities..

Everywhere I go in SG, I feel outnumbered by foreigners... Only when I serve NS, and attending rallies by opposition, then I am surrounded by Singaporeans...

I have already given up on this country and now I am just trying to save as much as possible in the midst of setting up a family and also planning my exit strategy..

I also stopped viewing CPF as my money long ago...

Like you, I too have looked at CPF the way you do. As of a few years ago my course of action has been similar to yours. Protect my wealth at all costs from any government, look into having assets in other "safe" countries if you haven't yet. And live simply. The lesser things you own, the easier it is for you to pack up and leave when things get more and more unfavourable. There's no such thing as nationalism when you're not part of the ruling class. I don't intend to fool myself into believing this lie.

(23-06-2014, 05:33 PM)LionFlyer Wrote:

(23-06-2014, 04:00 PM)weijian Wrote: Well, the past tense was in context to GFC (which happened in the past). I am pretty sure Mr Lim continues to feel rich when he looks at his CPF statement.

Maximum contribution per month from salary is 1k rite? Even if he makes 200k per month, still 1k contribution.

(24-06-2014, 10:53 PM)izam Wrote:

(24-06-2014, 07:58 PM)Zelphon Wrote: Good one..

If war breaks out, I will run..
I am not ashamed to share this...

Unless my family can be kept safe, running away is my 1st priority..
If cannot run away, then fight to survive lor...

C'mon, what is there to defend in this country anyway??

Now is already 60% citizens only...

We do not own any assets in SG anyway.. HDB is not an asset...
I will not risk my life to defend the Good Class Bungalows of the rich and PAP MPs...

At the rate rich millionaires coming into SG and farked up benefits between Foreigners vs Citizens... I really do feel 2nd class in my own country burdened with NS liabilities..

Everywhere I go in SG, I feel outnumbered by foreigners... Only when I serve NS, and attending rallies by opposition, then I am surrounded by Singaporeans...

I have already given up on this country and now I am just trying to save as much as possible in the midst of setting up a family and also planning my exit strategy..

I also stopped viewing CPF as my money long ago...

Like you, I too have looked at CPF the way you do. As of a few years ago my course of action has been similar to yours. Protect my wealth at all costs from any government, look into having assets in other "safe" countries if you haven't yet. And live simply. The lesser things you own, the easier it is for you to pack up and leave when things get more and more unfavourable. There's no such thing as nationalism when you're not part of the ruling class. I don't intend to fool myself into believing this lie.

Not sure this is just ranting out of frustration on CPF or Foreign intake policies. Looks like we are going for bashing again. Is clear in this forum there are people who do not trust there is money in CPF. So this take us back to the start of the thread.

Btw what makes you think can suka suka leave when country in crisis if you are not Rich and Powerful ? haha.

(24-06-2014, 04:58 PM)CityFarmer Wrote:

(24-06-2014, 04:43 PM)kagemusha Wrote: While foreigners can withdraw all their money out from CPF once they leave Singapore, locals have no recourse.
Is this a perk for foreigners working here?

This is a very common "doubt", and the "clarification" is abundant in Internet, and probably within VB.

Local has the same "perk". Once you decided to leave for good, you can do the same.

I am just glad that you are not in politics. No doubt you will lose your deposit....

There r many FTs/PRs who make good of the policies in cpf, PR scheme, HDB etc that benefit them. This has to be rectified. Having such people exploiting loopholes will deprive local citizens who genuinely need them. Like PRs who rent out hdbs to for rental income. Foreigners able to withdraw all the cpf money is another one. Why should they be given 4%+1% return and yet with the privilege to withdraw at any time?

Also, Most rules here are formulated to ensure people r self-sufficient and they wont spend a penny of the gov. Well that's nothing wrong in terms of financial prudence of the state. That is likely a legacy thinking that poor people jus want to rip off the gov and bankcrupt it. There are many cases where people need assistance and it will not cost much of the gov's resources, being extremely wealthy, to direct help in this area.

(24-06-2014, 09:17 PM)egghead Wrote:

(24-06-2014, 05:29 PM)GPD Wrote: In some countries, they don't allow foreigners to withdraw their CPF/pension fund. They are only allowed to transfer to a CPF-like or another pension fund in their home/next country. I haven't read on CPF to know whether foreigners withdrawing CPF is the above or they simply regained total control of this monies.

And how will this benefit Singapore?

(25-06-2014, 02:42 AM)Freenasi Wrote: Like PRs who rent out hdbs to for rental income.

PRs are no longer allowed to sublet their flats.

(25-06-2014, 02:42 AM)Freenasi Wrote: Foreigners able to withdraw all the cpf money is another one. Why should they be given 4%+1% return and yet with the privilege to withdraw at any time?

There are many SPRs who are probably happier if the government disallow them from contributing into the CPF.

(25-06-2014, 02:42 AM)Freenasi Wrote: Also, Most rules here are formulated to ensure people r self-sufficient and they wont spend a penny of the gov. Well that's nothing wrong in terms of financial prudence of the state. That is likely a legacy thinking that poor people jus want to rip off the gov and bankcrupt it. There are many cases where people need assistance and it will not cost much of the gov's resources, being extremely wealthy, to direct help in this area.

There are many big statements here. What do you define as help? Govt is not helping now - any evidence that you know of? Is it wrong to put a gate before resources are released to people even if they are in need? In some countries you have so much help that a single mother can have multiple kids with different fathers and claim allowance from the government and have more income than a normal worker - that is the kind of help that you will consider suitable?

And how much has the opposition (everyone not just the ones in parliament) said recently about the govt not helping? Have they managed to find anyone to parade before the media and quote their extreme hard luck cases? No? Seriously? I thought many people needed help - that should be easy to find ?

(25-06-2014, 01:30 AM)kagemusha Wrote:

(24-06-2014, 04:58 PM)CityFarmer Wrote:

(24-06-2014, 04:43 PM)kagemusha Wrote: While foreigners can withdraw all their money out from CPF once they leave Singapore, locals have no recourse.
Is this a perk for foreigners working here?

This is a very common "doubt", and the "clarification" is abundant in Internet, and probably within VB.

Local has the same "perk". Once you decided to leave for good, you can do the same.

I am just glad that you are not in politics. No doubt you will lose your deposit....

I am glad too. Once in politic, you need to be "political-correct" on your comment, rather than a direct view.

The same applies to Mr. Gerard Ee's "aggressive" comment after he was no longer the public transport council chairman.

(25-06-2014, 08:00 AM)thefarside Wrote:

(25-06-2014, 02:42 AM)Freenasi Wrote: Like PRs who rent out hdbs to for rental income.

PRs are no longer allowed to sublet their flats.

(25-06-2014, 02:42 AM)Freenasi Wrote: Foreigners able to withdraw all the cpf money is another one. Why should they be given 4%+1% return and yet with the privilege to withdraw at any time?

There are many SPRs who are probably happier if the government disallow them from contributing into the CPF.

(25-06-2014, 02:42 AM)Freenasi Wrote: Also, Most rules here are formulated to ensure people r self-sufficient and they wont spend a penny of the gov. Well that's nothing wrong in terms of financial prudence of the state. That is likely a legacy thinking that poor people jus want to rip off the gov and bankcrupt it. There are many cases where people need assistance and it will not cost much of the gov's resources, being extremely wealthy, to direct help in this area.

There are many big statements here. What do you define as help? Govt is not helping now - any evidence that you know of? Is it wrong to put a gate before resources are released to people even if they are in need? In some countries you have so much help that a single mother can have multiple kids with different fathers and claim allowance from the government and have more income than a normal worker - that is the kind of help that you will consider suitable?

And how much has the opposition (everyone not just the ones in parliament) said recently about the govt not helping? Have they managed to find anyone to parade before the media and quote their extreme hard luck cases? No? Seriously? I thought many people needed help - that should be easy to find ?

On the other hand, Singapore is really very small.
i think our G policy is there should be no homeless people allowed on the street. Not even Fts hoh! If there is, the homeless will soon be in some "homes", like it or not. For FTs of course should be shipped out. We don't operate Soup Kitchen for the homeless on the street. We do operate for the homeless in the house for the homeless.
Singapore is that small and that rich actually.
Some homeless Singaporeans may prefer the freedom of living on the streets. But i think this G's policy is basically correct for we are really very small country and we are that rich. Why allowed homeless people to spoiled our "Land of the Plenty".
Err........Actually i am not so sure about the rights of the group of homeless who prefer to the freedom of living on the street. Though this group will definitely tarnished our image of as "The Land of Plenty".

///////'
In the S’pore version, the payout got deferred and deferred.

“The rule is, jam to-morrow and jam yesterday – but never jam to-day.”
“It must come sometimes to ‘jam to-day’,” Alice objected.
“No, it can’t,” said the Queen. “It’s jam every other day: to-day isn’t any other day, you know.”
“I don’t understand you,” said Alice. “It’s dreadfully confusing!”

(Through the Looking Glass and What Alice Found There)

I'm not shamefully (without permission produce the above from an investment blogger)
How many of us can sympathise with Alice?
i do.

Illustration:

If an exam paper set too many difficult questions, a lot people fail, they will modulate to allow more people to pass.
For normal schools, you cannot set and fail 50% of the students.

Likewise if CPF min sum is set too high, a lot of people cannot meet it, they will need to re-examine the policy.