Quote:
Originally Posted by Unregistered
It's you who are the joker. Of course CPF money is our money. Do you spend everything you earn? CPF is just another form of savings and at 2.5% to 4% interest its a good form of savings.
Having millions in CPF and SRS does matter. I'd rather have my millions in CPF rather than the pittance you have in cash. By maxing out my special account, we get about $40,000 in interest every year. In fact, when I turn 55, unless I can find a higher yielding investment, I will probably leave most of it with CPF. I can take it out anytime after 55 if I need it. Better than the 0.2% I get with DBS.
You are just one of those people who aren't successful and are resentful that the Government keeps some of your money to make sure you are not a burden when you are old. Let me tell you that CPF was designed for people like you, who are mediocre and spend everything they earn. Sorry, but that's the truth. |
I'm sure you're also someone that looks at his or her
CPF statement every month and feel rich like our Zorro Lim.
Obviously if you are as rich as you imply, you wouldn't care if you have millions in your
CPF as you must be cash rich enough to support your family and yourself. However, having our own money locked in this ponzi scheme coupled with the pathetic yield provided by the
CPF board (that is not even enough to combat inflation) is affecting most Singaporean when they could do much better ultilising the money themselves.
The Government should stop tweaking the rules to this whole scam (whenever they make a mistake in our sovereign funds, the losses made by
GIC and Temasak during 08/09 is almost 1/2 of what the world bank estimates as the damages caused during the recent Japan quake. The amount lost can cover the entire Singapore population's
HDB conservancy fees for the next century and somemore. I suspect, the sum may even be able to provide universal free education until university for one entire generation) and let us withdraw the entire amount (including the minimum sum) once we hit 55 when it was first promised to us.