Another Flawed CPF Policy

From: yansimon52
Subject: Another Flawed policy by PAP govt.

Previously I was referring those flawed polices of the Public Housing
Scheme by HDB.

Today its another flawed policy of CPF.

CPF is now telling us that once you reach 55 yrs old....you must have
at least $80K putin as Retirement fund...the rest that exceed $80 K
then you can draw out as cash for you to spend.

Ok...let say those lower income ppl only with a lifetime CPF saving of
$70K...and need money to spend afterall his own money what?..and
according to CPF new policy....he is not allowed to withdraw the
$70K....from this $70 K..a $30K is alloted as standby for him to buy
HDB flat....anyway $30 K buy what?....if want to buy...bank oso don't
lend...too old oledi la.'
So, the $70K hold by CPF as retirement fund for old age. From there,
CPF will give out $200 to $300 monthly to you until you 'up the
lorry'.

Alamak...when you look at it hor......what can a $200 to $300 do for
you?...knowing that $70K locked by CPF....the money that is your life
saving being locked now. If only got $200 to $300 given by CPF
monthly....Halo might as well forget it la.....better apply for Social
welfare better...cos, social welfare may give out more money than the
$200 to $300 la. So, where is the logics?

4 comments:

  1. as usual...cpf money is our money..but they dun allow us to withdraw and forcefully hold onto it for their investment...but giving the reason for retirement...huh!
    Conclusion....we're the lembu that have to work for the gov.

    ReplyDelete
  2. Or having said that, throw the citizenship back to them and take the money move to somewhere else where they welcome talented foreigners.

    ReplyDelete
  3. New Zealand welcomes us with our CPF money.

    ReplyDelete