Trust in CPF?

[NealKoh]

yeah sure, chao ang mo suggest that garmen raise taxes. when they do that ang mo just run back to his lousy country that he has abandoned. we sinky kena stuck here and pay higher taxes.

if garmen need more money, they could
1. make their much vaunted temasek and gic to improve their contribution
2. cut their salary like the malaysian ministers.

and not just bleed the people dry

Hahaha it’s just how they think, how they were brought up, that the government takes care of everything.
But the flaw in that is in assuming all citizens agree with how the government is spending their cash.
Just imagine our hard earned cash is being spent on refugees and integrating them into the society when we don’t even want them here in the first place.
That’s what’s happening to Europe now. More and more locals are opting to run away like you said, or complain. In Sweden, their girls are getting raped and they are known as the rape capital of Europe because the government just keep quiet and if anyone say anything. They quote racism and throw them in jail. Just imagine your own government throwing you in jail because you voice out against foreigners who are abusing the system. And spending your money to keep them here. It’s nuts.
The last time I was in Europe, which was 2 months ago. Especially the outskirts of Paris, it was like some developing country area. So dirty. So unsafe.

So yeah back to your point, these people like to spread their ideology everywhere. I hope our government doesn’t adopt more of their values because it’s rubbish.
The existing welfare is already good enough. If government must provide for more welfare, our taxes will bound to increase. No thanks that’s why people like us try our best to make the full use of tax relief to pay the least tax.
Why should I pay for someone else’s life decision? Eg. having more kids than they can support on their own - so more grants, in terms of child grants, financial support etc.
not buying insurance or saving up enough for their own healthcare.
Short of the rare cases of hit with terminal illness while working hard to save, majority are just depending on the government for their daily care.

Sorry but my own values don’t align, that’s why I choose to remain in Singapore. Ain’t going to migrate to some western country where I have to pay 40% income tax to fund someone else kid, or immigrant through school.

 

[hwmook]

You can always do it with your own saving. CPF should not be the only money you can invest, right?

CPF is my money so I would like to invest on my own which I am doing now but restricted.

 

[TabascoSauce]

At least allow the citizens to choose whether they can invest on their own using OA. In fact I also lose some of my OA in unit trust last time due to bad financial planning. After all it is still our money, no? If I have a better option to increase my retirement funds than garmen but llst due to garmen policy, is it fair to me?

The govt acc to the general public, not to cheongmanz. The cpf was not designed to benefit the more affluent but to safeguard those who are at the bottom.

 

[cheongmanz]

You can always do it with your own saving. CPF should not be the only money you can invest, right?

Did I say I only use OA and didn't use my cash to invest?

 

[w1rbelw1nd]

How does taking out CPF OA money to invest in stocks take away money or resources from the government? How are the people at the bottom short changed?

The govt acc to the general public, not to cheongmanz. The cpf was not designed to benefit the more affluent but to safeguard those who are at the bottom.

 

[fr33d0m]

CPF is my money so I would like to invest on my own which I am doing now but restricted.

Are you joking? CPF is managed according to the law. You have to change the law to get what you want.

Good luck with that.

 

[Toni90]

Don’t know why people keep complain about CPF. If can invest, can earn then after 20 years should be very rich, why care about some money in CPF. If can not earn, can not invest still want to use CPF then old already how? Collect card box? Ask gov money?

 

[TabascoSauce]

How does taking out CPF OA money to invest in stocks take away money or resources from the government? How are the people at the bottom short changed?

I didn't said it will take resources away from govt. and to and ur question:
Prevent the fund of the person, especially someone who is less investment savvy, from losing all to the stock market?

 

[Soya_Bean]

A policy maker has more to lose (i.e. his personal CPF account and voters), than majority of the citizens.

So i believe they will not attempt to do a suicide move to introduce policy that don't benefit themselves.

After all everyone is only interested in their own interest before others.

As the saying goes, if you can't beat them, join them.

 

[cheongmanz]

Don’t know why people keep complain about CPF. If can invest, can earn then after 20 years should be very rich, why care about some money in CPF. If can not earn, can not invest still want to use CPF then old already how? Collect card box? Ask gov money?

I don't know about you, but I do witness old people collecting cans straight from rubbish bins, selling tissue papers and even begging. Although I do not understand the background why they are doing that, I know for sure that I did not witness that much 20 years ago. How can I trust our so call elite leaders when some can say that old man collecting cardboard is to exercise. Furthermore, the propaganda drama can even show such scene where the actor collecting cardboard claims that he wants to do that to exercise. Looks kinda familiar to my army training last time when you shout "Grenade!!!" Smoke screen form.

 

[cscs3]

Are you joking? CPF is managed according to the law. You have to change the law to get what you want.

Good luck with that.

Many does not understand how CPF work. They only want their money, however, when they spent all. They come to government again say government is suppose to protect them.

For me CPF system is much better then pension scheme.

 

[hwmook]

Are you joking? CPF is managed according to the law. You have to change the law to get what you want.

Good luck with that.

They recently just change the rule of the CPF investment scheme, what's the big deal? They should allow the usage of CPF to purchase ETF.

 

[cscs3]

I don't know about you, but I do witness old people collecting cans straight from rubbish bins, selling tissue papers and even begging. Although I do not understand the background why they are doing that, I know for sure that I did not witness that much 20 years ago. How can I trust our so call elite leaders when some can say that old man collecting cardboard is to exercise. Furthermore, the propaganda drama can even show such scene where the actor collecting cardboard claims that he wants to do that to exercise. Looks kinda familiar to my army training last time when you shout "Grenade!!!" Smoke screen form.

This kind of speech always pop up but one never try to find out why these people ended up collecting cans ....AND fair enough, you sayyou did not understand their background.

One policy cannot fix all problems. I always believe in order to secure you future especially at old age. You have to work hard during young. Do not depend on other and blame others. Otherwise you may end up blaming your parent first!

 

[cscs3]

They recently just change the rule of the CPF investment scheme, what's the big deal? They should allow the usage of CPF to purchase ETF.

Some may start to request CPF should be allowed to buy car, handphone etc.

 

[havetheveryfun]

This kind of speech always pop up but one never try to find out why these people ended up collecting cans ....AND fair enough, you sayyou did not understand their background.

One policy cannot fix all problems. I always believe in order to secure you future especially at old age. You have to work hard during young. Do not depend on other and blame others. Otherwise you may end up blaming your parent first!

its not really about whether these people deserved to be collecting cans and cardboards at their age... its about what the minister said that's alarming.

"Collecting cardboards at their old age is for exercise"
"Serving NS is a privilege"
"Everyone has cars in Singapore. My wife has one, and I have one."
"If everyone travels at the same time, of course the transport infrastructure can't sustain"
"can send your parents to JB nursing home when they are at old age. its much cheaper and affordable."

not word for word but the meaning is something along those lines

 

[hwmook]

Many does not understand how CPF work. They only want their money, however, when they spent all. They come to government again say government is suppose to protect them.

For me CPF system is much better then pension scheme.

I don't want to spend the money in CPF, I want to invest on my own. I do not want to lend my money for 2.5% PA. CPF currently trap $20k in my OA for no good reason and restrict my investment to limited unit trust/stocks.

 

[maple96]

I don't know about you, but I do witness old people collecting cans straight from rubbish bins, selling tissue papers and even begging. Although I do not understand the background why they are doing that, I know for sure that I did not witness that much 20 years ago. How can I trust our so call elite leaders when some can say that old man collecting cardboard is to exercise. Furthermore, the propaganda drama can even show such scene where the actor collecting cardboard claims that he wants to do that to exercise. Looks kinda familiar to my army training last time when you shout "Grenade!!!" Smoke screen form.

Just my observation: why the increase in uncles and aunties selling tissues, begging, collecting cardboards? They just found an easier way to make money, the trend, cardboards got better resale value, aluminium cans got better resale value. There are many reasons why they are doing it, only they will know, we just need to be observant.

 

[hwmook]

Some may start to request CPF should be allowed to buy car, handphone etc.

Investment and spending are 2 different concepts, I don't know what is so hard for you to understand. My CPF OA investment all need to go back to OA and I am not complaining. I want to have the freedom to invest my own CPF OA to get the returns I desire.

 

[hwmook]

Just my observation: why the increase in uncles and aunties selling tissues, begging, collecting cardboards? They just found an easier way to make money, the trend, cardboards got better resale value, aluminium cans got better resale value. There are many reasons why they are doing it, only they will know, we just need to be observant.

I guess you have no knowledge on cardboard, aluminium price. It's so pathetic and is not worth anybody effort to collect.

 

[Perisher]

They recently just change the rule of the CPF investment scheme, what's the big deal? They should allow the usage of CPF to purchase ETF.

Should allow global access of index etf.