Goldbug 6th Gear May 28, 2014 Share May 28, 2014 Newspaper Article - 'A breach of the CPFs fundamental principle' ↡ Advertisement 4 Link to post Share on other sites More sharing options...
Vid Hypersonic May 28, 2014 Share May 28, 2014 Here's one from Dr Tan Cheng Bock https://www.facebook.com/TanChengBock/posts/636216236452915 CPF and beyond.The current heated discussion on CPF boils down to a question of a lack of public trust.Most Singaporeans have high expectations of realising some cash after their retirement. Changes made to the CPF and the constant reminder that they may not have enough disposable income when they grow old, created a sense of insecurity. This is backed by the fact that only half of active CPF account holders have enough to meet the minimum sum requirement. To add to the anxiety, the minimum sum was increased recently resulting in less disposable money for their retirement.Human nature is such. Many live on hope and promises. How did we come to this scenario? CPF was intended to give us comfort in old age but this do not seem to be so now.Questions were asked why CPF investment was not giving us better returns. As answers were not so forth coming, they inferred that probably there was not enough CPF fund to give back and thus the need to retain more in the minimum sum. This may not be the case but nevertheless confidence in the system has been dented.Younger Singaporeans, better educated, and with a more enquiring mind zoomed in on how the CPF money was invested. They raised some pertinent questions like interest rates and want to know where, how and quantum of return from investments but they got same standard answers ( e.g. CPF are invested in Singapore government bonds). This did not satisfy their young minds. They want to know whether GIC and Temasek holdings are also managing the funds. But apparently these questions were not well clarified. This created a suspicion of the government not being transparent and that the government was not revealing the true status of our money in the CPF.As the answers were not forth coming, more pressure was exerted through the new media and some got carried away too far with allegation of wrong doings by the authorities. So the big stick was used.The CPF issue is but one of many such encounters that the government will have to face. It is very challenging and difficult .There will be more such standoffs. But for now, how is the government going to manage this?Will the tough action taken, strengthen the resolve of the young or a more engaging approach be a better way for such encounters in future?How hard the big stick is used will be carefully watched both by Singaporeans and Singapore watchers abroad. 8 Link to post Share on other sites More sharing options...
Watwheels Supersonic May 28, 2014 Share May 28, 2014 Sian. Tak bai cpf. Why nothing on chio bu? 1 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 28, 2014 Share May 28, 2014 Here's one from Dr Tan Cheng Bock https://www.facebook.com/TanChengBock/posts/636216236452915 CPF and beyond. The current heated discussion on CPF boils down to a question of a lack of public trust. Most Singaporeans have high expectations of realising some cash after their retirement. Changes made to the CPF and the constant reminder that they may not have enough disposable income when they grow old, created a sense of insecurity. This is backed by the fact that only half of active CPF account holders have enough to meet the minimum sum requirement. To add to the anxiety, the minimum sum was increased recently resulting in less disposable money for their retirement. Human nature is such. Many live on hope and promises. How did we come to this scenario? CPF was intended to give us comfort in old age but this do not seem to be so now. Questions were asked why CPF investment was not giving us better returns. As answers were not so forth coming, they inferred that probably there was not enough CPF fund to give back and thus the need to retain more in the minimum sum. This may not be the case but nevertheless confidence in the system has been dented. Younger Singaporeans, better educated, and with a more enquiring mind zoomed in on how the CPF money was invested. They raised some pertinent questions like interest rates and want to know where, how and quantum of return from investments but they got same standard answers ( e.g. CPF are invested in Singapore government bonds). This did not satisfy their young minds. They want to know whether GIC and Temasek holdings are also managing the funds. But apparently these questions were not well clarified. This created a suspicion of the government not being transparent and that the government was not revealing the true status of our money in the CPF. As the answers were not forth coming, more pressure was exerted through the new media and some got carried away too far with allegation of wrong doings by the authorities. So the big stick was used. The CPF issue is but one of many such encounters that the government will have to face. It is very challenging and difficult . There will be more such standoffs. But for now, how is the government going to manage this? Will the tough action taken, strengthen the resolve of the young or a more engaging approach be a better way for such encounters in future? How hard the big stick is used will be carefully watched both by Singaporeans and Singapore watchers abroad. Again, lots of questions, but no answers ! Waiting from answers from garmen, but only get more blur in return ! Perhaps, they themselves also don't know the answers Link to post Share on other sites More sharing options...
Mockngbrd Supersonic May 28, 2014 Share May 28, 2014 Piak Pap! Link to post Share on other sites More sharing options...
Vid Hypersonic May 28, 2014 Share May 28, 2014 Again, lots of questions, but no answers ! Waiting from answers from garmen, but only get more blur in return ! Perhaps, they themselves also don't know the answers Of course they know the answers. They just afraid of telling us. Next GE coming leh. 1 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 28, 2014 Share May 28, 2014 Of course they know the answers. They just afraid of telling us. Next GE coming leh. I think they don't know lah, and they haven't even calculated the next year July 2015 MS yet Link to post Share on other sites More sharing options...
Vid Hypersonic May 28, 2014 Share May 28, 2014 I think they don't know lah, and they haven't even calculated the next year July 2015 MS yet Why are we parking our money with them if they don't know anything. Might as well park with me. My interest returns will be 3.6 and 5% respectively. Link to post Share on other sites More sharing options...
Darryn Turbocharged May 28, 2014 Share May 28, 2014 Roy's case going to court....will Ravi be able to question LHL, or does his position preclude this? Link to post Share on other sites More sharing options...
Fcw75 Hypersonic May 28, 2014 Share May 28, 2014 Again, lots of questions, but no answers ! Waiting from answers from garmen, but only get more blur in return ! Perhaps, they themselves also don't know the answers As the saying goes: If you cannot convince, then confuse! 3 Link to post Share on other sites More sharing options...
Kb27 Supersonic May 28, 2014 Share May 28, 2014 Again, lots of questions, but no answers ! Waiting from answers from garmen, but only get more blur in return ! Perhaps, they themselves also don't know the answers The answer my friend is blowin' in the wind http://www.youtube.com/watch?feature=player_detailpage&v=vWwgrjjIMXA 1 Link to post Share on other sites More sharing options...
2BDriver Hypersonic May 28, 2014 Share May 28, 2014 As the saying goes: If you cannot convince, then confuse! As the saying still continue to goes: If you cannot convince, then confuse! If you cannot confuse, then conceal ! 4 Link to post Share on other sites More sharing options...
Pisces69 6th Gear May 28, 2014 Share May 28, 2014 Of course they know the answers. They just afraid of telling us. Next GE coming leh. Looking at how the Cee Pee ef has evolved over time makes me hear alarm bells ringing. Every time the gharmen witholds more n more of our money the alarm bells keep getting louder n louder till now I am almost deaf. 1 Link to post Share on other sites More sharing options...
Pisces69 6th Gear May 28, 2014 Share May 28, 2014 Why are we parking our money with them if they don't know anything. Might as well park with me. My interest returns will be 3.6 and 5% respectively. OK if u register as a bank or finance company n follow the rules accordingly n promise not to withold my deposits with u ever then I wil inform the CPF board to transfer ALL my money with them to your bank/finance co. Once u get the approval from MAS that they wil allow the transfer I wil b one of the first to deposit with u. Link to post Share on other sites More sharing options...
Vid Hypersonic May 28, 2014 Share May 28, 2014 OK if u register as a bank or finance company n follow the rules accordingly n promise not to withold my deposits with u ever then I wil inform the CPF board to transfer ALL my money with them to your bank/finance co. Once u get the approval from MAS that they wil allow the transfer I wil b one of the first to deposit with u. Thank you for your sappork!! Link to post Share on other sites More sharing options...
Pisces69 6th Gear May 28, 2014 Share May 28, 2014 Roy's case going to court....will Ravi be able to question LHL, or does his position preclude this? We wait n see. Last time the old man refused to b cross-examined in open court. IIRC one time he did oblige n was questioned by a QC n end up he was made to look like a proper fool . After that SG do not allow QC anymore. Then we start to have our own SC. Prob cos SC easier for them to control as their license issued locally. Step over the line n your license wil not b renewed. And in the first place only those friendly wil even get a license. What else is new. Link to post Share on other sites More sharing options...
Tiger1 6th Gear May 28, 2014 Share May 28, 2014 If..i mean if...one day, opposition wins the parliment hor....it will be very very interestinng to see many skeletons coming out of the closets. Link to post Share on other sites More sharing options...
Pisces69 6th Gear May 28, 2014 Share May 28, 2014 Thank you for your sappork!! At leat with u I know 99% I wil get to see my money. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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