when MLM first appeared, they claim its perfectly legal too,
that it is not a pyramid scheme because there is a product involved
you see, these people are very smart are tweaking the formula to disguise their intent
you are right, CPF is not a ponzi scheme based on the definitions you gave but what if they tweaked the formula somewhat? "promised high returns within a relative short period" will surely be uncovered quickly since such deception is not sustainable for long.
CPF's rates of 2.5% and 4% are quite high considering bank deposits only give 0.05% and bonds give roughly 1% only? If we were to find out, it will only be decades later...... and they kept increasing the retirement age + increasing minimum sum + CPF life annuity which is raising some suspicion don't you think so?
using ponzi scheme or legality doesnt prove anything. CPF isnt related to these in anyway. on a side note, when they ever tweak CPF then it's no longer CPF.
see, u are using a big IF to base ur arguments. like IF i strike toto 1st prize tomorrow. it's not gonna stick.
plz, how can u say CPF rates are high? bank interests rates has been like 3-5% in the 80s-90s. guess u werent born early enuff for that. when we say high returns it usually means snow-balling, not something like 20yrs to double.
CPF started in 1955, u cant be using the rates now to compare. besides, i think CPF rates is more or less the same as insurance. u arent calling insurance plans a ponzi scheme are u?