CPF was "100 per cent safe''

[Temperament]

i think as long as the CPF System is intact, many people would like to keep things as it is or afraid to rock the boat. i am afraid too but i am far, far of Zorro's CPF standard, so......

,i know many well to do families with professional sons and daughters will definitely don't want to change "Lee Dynasty" too.
i wonder if Papys lost 2/3 majority, what will happens to our CPF, etc...???

Will there be more transparency? If more transparency, will we find some skeletons in the closets???
All these are very "scary thoughts"?
Anyone with plan B if plan A failed?
Help!!!!

[weijian]

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.

I am not unable to find the historical figures for the ordinary wage ceiling (Currently at 5k). Nonetheless, do note that historically, CPF interest rates and employer/employee's contribution had undergone much changes - It was generally more favorable in the past.

history of CPF interest rates: http://mycpf.cpf.gov.sg/NR/rdonlyres/5C7...stRate.pdf

Contribution from employer/employee: http://www.vandine.com/exhibit1.gif

Zorro should have started working in the mid 1970s (he is 59yrs old this year) and with the power of compounding, i still think he EARNESTLY believes he feels rich when he sees his CPF statement.

[tanjm]

Funny why he use the past tense

Haha! Exactly what I noticed as well. Intentional or unintentional?

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.

Haha you guys are hilarious. But I agree you guys really did read the fine prints well

I guess the creator of bitcoin probably took the idea out of our CPF concept. maybe it is virtual money afterall. Money you will never see..

In that case, I will pay you 50 cents cash for every dollar you have in CPF right now. You just have to give me all of your annuity payments, any excess you have over minimum sum and avoid drawing CPF for housing, medical, and education.

Deal or not?

[touzi]

lol, yeah just not understand the gripes that commoners have....
its not that the money is not safe, is that "I do not get to use the money, when I want to use it, how I want to use it."
What's the point of it being safe got to do with it????
Stay too long inside the ivory tower?

Well perhaps they thought the public screaming to get their CPF out because they thought their CPF is not safe in their hands.

He was responding to a discussion on the allegation of PM misappropriating CPF money. Moreover he said more than that, but ST chose that as the headline.

[Harvest Time]

If he looks at his own bank account, he feel even more rich.

[CityFarmer]

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.

I am not unable to find the historical figures for the ordinary wage ceiling (Currently at 5k). Nonetheless, do note that historically, CPF interest rates and employer/employee's contribution had undergone much changes - It was generally more favorable in the past.

history of CPF interest rates: http://mycpf.cpf.gov.sg/NR/rdonlyres/5C7...stRate.pdf

Contribution from employer/employee: http://www.vandine.com/exhibit1.gif

Zorro should have started working in the mid 1970s (he is 59yrs old this year) and with the power of compounding, i still think he EARNESTLY believes he feels rich when he sees his CPF statement.

IIRC, there was no ceiling for CPF contribution in the old days. I can't remember the actual year the ceiling was implemented, but not decades ago. May be around year 2000?

[Temperament]

i wonder if you are 55 now, no job, no saving, and to boot family commitment (expenses) to meet, what is CPF Board going to say to you?

"Sorry, we can't do anything, we have to follow the rules & regulations. You can only take out all your money when you migrate to another country. If you can't, you can still migrate to the "Next World"."

Is it like that leh?
(Rubber Stamping Parliament's outcome?)

[CityFarmer]

lol, yeah just not understand the gripes that commoners have....
its not that the money is not safe, is that "I do not get to use the money, when I want to use it, how I want to use it."
What's the point of it being safe got to do with it????
Stay too long inside the ivory tower?

Well perhaps they thought the public screaming to get their CPF out because they thought their CPF is not safe in their hands.

He was responding to a discussion on the allegation of PM misappropriating CPF money. Moreover he said more than that, but ST chose that as the headline.

Good point. We should note the context of the comment, before criticising.

[CityFarmer]

If he looks at his own bank account, he feel even more rich.

I reckon if he works in private sector, he should feel richer when he looks at his own bank account.

I can't prove it, but base on similar cases of Mr. George Yeo and Ms. Lim Hwee Hua.

[corydorus]

I realise people has the tendency to gang up with all opposing ideas for the sake of opposing and blurring the lines of objections. Let's focus issue objectively rather than against specific party. We are dealing with life issue here and is not a game of ego or fun.

The very people who you like to try to push to get access to the fund early, are you game enough to up your social responsibility as they will likely needs more later since their CPF has been "routed". Are this people accountable to their own financial well being or living beyond their means ? No doubt there is special exception cases that needs help but should the CPF be the battle ground for this needs ?