CPF is a scheme badly in need of reform..here's why...
#1
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Every time there is criticism of CPF some idiot will come out and say he has a lot of money im CPF. These people have used CPF as a high interest fixed deposit for their own benefit. But the CPF scheme which is a provident scheme is suppose to provide for the retirement of Singaporeans. It has failed to meet its goals with many elderly who need to work when they are old and frail. Worse still, many have fallen into poverty.

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The amount that an elderly gets in Singapore from CPF is only ome third of what Greek pensioners get. Yes Greece is supposed to be a bankrupt country and Singapore a wealthy country. But what is the use of this wealth is we do not treat the elderly to contributed their working lives to Singapore.

It is unconscionable nothing is done in the last 20yrs to address this issue. The PAP solution is to ask elderly to work until the day they die.
Dont forget all of us will reach that point some may be luckier than others but all have to be better taken care off.

What is the use of all these pap candidates who advertise their "humble beginnings" when all they do is fight for their own interest as yes men and women to climb up. They will never change the system for the better.

We have to act now to stop the suffering.
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......
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#2
all new CPF members' should have their accounts kept by major banks............same regulations as CPF board............let the banks take care of the compound interests since banks are creating money out of thin air.............

otherwise, CPF sure game over in our lifetimes..........
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#3
CPF rich but cash poor

O$P$
PRC ktv* hostess once told me "台湾人无情, 香港人无义,新加坡人无稚" dance dance
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#4
Can change this con scheme only after PAP is gone lah. Rolling on the flor laughing
[+] 1 user Likes Notdumb's post
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#5
30-6-2020 10:20 PM
NaPoLeon PorLumPar said:
all new CPF members' should have their accounts kept by major banks............same regulations as CPF board............let the banks take care of the compound interests since banks are creating money out of thin air.............

otherwise, CPF sure game over in our lifetimes..........
CPF lend our money to GIC to invest.

Should investment returns falls or goes negative there is tendency to create another scheme to delay withdrawal.....

This does not favor Singaporeans.
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......
Quote
#6
one thing PSP say is correct, go back to what CPF is first created the Main Objective.
thumbs up $$$$Happy to be Foreveralone because I'm $Rich$$$$ Embarrassed
Researcher in Social Science + Politics
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#7
30-6-2020 9:37 PM
sgbuffett said:
[Image: 8sZT84u.png]
[Image: Q9pRrZP.png]
Every time there is criticism of CPF some idiot will come out and say he has a lot of money im CPF. These people have used CPF as a high interest fixed deposit for their own benefit. But the CPF scheme which is a provident scheme is suppose to provide for the retirement of Singaporeans. It has failed to meet its goals with many elderly who need to work when they are old and frail. Worse still, many have fallen into poverty.

[Image: SnCQL9d.png]

The amount that an elderly gets in Singapore from CPF is only ome third of what Greek pensioners get. Yes Greece is supposed to be a bankrupt country and Singapore a wealthy country. But what is the use of this wealth is we do not treat the elderly to contributed their working lives to Singapore.

It is unconscionable nothing is done in the last 20yrs to address this issue. The PAP solution is to ask elderly to work until the day they die.
Dont forget all of us will reach that point some may be luckier than others but all have to be better taken care off.

What is the use of all these pap candidates who advertise their "humble beginnings" when all they do is fight for their own interest as yes men and women to climb up. They will never change the system for the better.

We have to act now to stop the suffering.

Moron spinning old CPF stale tales

Which has been debunked before

If only this moron has the perseverance to continue with his fast food job

He will be a model fast food CPF ambassador during his old age, like me now

So sad to see a young man waste his life doing nothing useful with his life

When old sure no money to support himself, will need to depend on society to feed him
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#8
1-7-2020 2:40 AM
sgbuffett said:
CPF lend our money to GIC to invest.

Should investment returns falls or goes negative there is tendency to create another scheme to delay withdrawal.....

This does not favor Singaporeans.

Ladies and gentlemen

Beware of moron sgbuffett's lies

https://www.mof.gov.sg/policies/our-nati...bligations

Q26. How are CPF monies invested? What does the Government do with the monies?

CPF monies are invested by the CPF Board (CPFB) in Special Singapore Government Securities (SSGS7) that are issued and guaranteed by the Singapore Government. This arrangement assures that the CPF Board will be able to pay its members all their monies when due, and the interest that it commits to pay on CPF accounts.

This is a solid guarantee. The Singapore Government is one of the few remaining triple-A credit-rated governments in the world. The proceeds from SSGS issuance are invested by the Government via MAS and GIC, just as it invests the proceeds from the market-based Singapore Government Securities (SGS).


No CPF monies go towards government spending. Government borrowings from SGS and SSGS cannot be used to fund expenditures. Under the Government Securities Act (enacted in 1992), the monies raised from SGS and SSGS cannot be spent.

The proceeds from SSGS issuance are pooled with the rest of the Government's funds, such as proceeds from issuing Singapore Government Securities (SGS) in the markets, government surpluses, as well as the receipts from land sales which under our Constitutional rules are accounted for as Past Reserves. The comingled funds are first deposited with MAS as government deposits. MAS converts these funds into foreign assets through the foreign exchange market. A major portion of these assets are of a long-term nature, such as those that provide backing for long-term Government liabilities like SSGS as well as unencumbered assets such as government surpluses and land sales receipts. These assets are ultimately transferred to GIC to be managed over a long investment horizon.

The Government's assets are therefore mainly managed by GIC. GIC is a fund manager, not an owner of the assets. It merely receives funds from Government for long-term management, without regard to the sources of Government funds, e.g. SGS, SSGS, government surpluses. The Government's mandate to GIC is to manage the assets in a single pool, on an unencumbered basis, with the aim of achieving good long-term returns. The Government does not specify to GIC the sources of the assets that are placed with it. The Government also does not specify whether the assets are encumbered or unencumbered, nor state the proportions. (See Q28)

Prior to the formation of GIC, it was the MAS as central bank that managed these assets. The investment of the assets was in keeping with the traditional approach of central banks, with large allocations to liquid, low-risk instruments. After GIC was formed in 1981, the assets were progressively transferred from MAS to GIC for management. This was to enable the assets to be invested in higher risk instruments that could be expected to earn higher returns over the long term.

The SSGS proceeds have not been passed to Temasek for management. Temasek hence does not manage any CPF monies. Temasek manages its own assets, which have accrued mainly from proceeds from sale of its investments and reinvestments of dividends and other cash distributions it receives from its portfolio companies and other investments. Temasek also has its own borrowings and debt financing sources. The Government's relationship with Temasek is that of its sole equity shareholder.

The information above elaborates on that provided at Q2.
[+] 1 user Likes 5354's post
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#9
1-7-2020 6:53 AM
5354 said:
Moron spinning old CPF stale tales

Which has been debunked before

If only this moron has the perseverance to continue with his fast food job

He will be a model fast food CPF ambassador during his old age, like me now

So sad to see a young man waste his life doing nothing useful with his life

When old sure no money to support himself, will need to depend on society to feed him

[Image: pCJ43vo.png]
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#10
30-6-2020 10:29 PM
Notdumb said:
Can change this con scheme only after PAP is gone lah. Rolling on the flor laughing


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