CPF was "100 per cent safe''

[Lancelot]

http://www.straitstimes.com/news/singapo...y-20140623

Minister in the Prime Minister's Office Lim Swee Say yesterday assured Singaporeans that their money in the Central Provident Fund (CPF) was "100 per cent safe".

While many investments had been lost during the global financial crisis, he pointed out, CPF had still continued to earn interest then.

"(The) money with CPF... was not only safe, but continued to earn risk-free interest," he told reporters on the sidelines of a mock parliamentary debate session for students at The Arts House.
- See more at: http://www.straitstimes.com/news/singapo...FRBZn.dpuf

[specuvestor]

Funny why he use the past tense

Like my post below, getting your CPF money back in SGD is not the issue. When the organisers talk like that, you know they don't really understand the issue.

"And many people don't understand and keep saying they want their money back to know the money is there. Certainly in VB we had discussed many threads on this: you do not need to be afraid of not getting your CPF in SGD back. MAS can print the SGD for you. That is not the issue. Issue is what the SGD is worth ie purchasing power. "
http://www.valuebuddies.com/thread-5216-...l#pid85739

[kagemusha]

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?

[GPD]

Funny why he use the past tense

Like my post below, getting your CPF money back in SGD is not the issue. When the organisers talk like that, you know they don't really understand the issue.

"And many people don't understand and keep saying they want their money back to know the money is there. Certainly in VB we had discussed many threads on this: you do not need to be afraid of not getting your CPF in SGD back. MAS can print the SGD for you. That is not the issue. Issue is what the SGD is worth ie purchasing power. "
http://www.valuebuddies.com/thread-5216-...l#pid85739

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

[GPD]

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.

[weijian]

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.

[DP28]

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..

[valuebuddies]

I think most of the Singaporean are assets (or rather paper) rich. If there is no way to unlock the value in these papers, then you must well write it off. For me, I am still enjoying the benefits of CPF, to pay off my housing loans etc, but for the older generations, probably there is nothing much they can do with their paper money. One day when I lose control over my paper money, I would grumble as well

[Freenasi]

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..

If Sg continues to expand its population then there will be net inflow of money into. Yes, if this continues infinitely there wont be problem. But there comes a day the limit of influx of foreigners working here will not grow anymore. Or if there is a surprise outcome in 2016 then will they start to listen.

[LionFlyer]

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.