Comments on: CPF Life: Money May Not Be Enough (Singapore Edition)

By: Bridget Lew

Bridget Lew — Fri, 09 Oct 2009 17:52:32 +0000

I am usually so trusting of our government (so stupid lah) until it came to this day (eureka) I have been cheated of my money by a bunch of crooks in white shirts!!!! I protest against those who abuse and exploit grannies like me!

By: shocked

shocked — Fri, 07 Aug 2009 03:51:24 +0000

*sigh* just take it as taxes when you are paying cpf… else, quickly exhaust it with housing. that way, you won’t have to worry so much about insolvency.

By: XS

XS — Tue, 28 Jul 2009 04:36:41 +0000

Thank you for this.. I think this is a good related article everyone should check out too: STOP THE WAYANG, just return us our CPF! – http://www.sgpolitics.net/?p=3433

By: LP

LP — Sat, 25 Jul 2009 15:25:48 +0000

Hi PG,

Heng ah, lucky i odd jobs laborar, noe no engrish, so no cpf gahmen cannot take my manee!

By: The Singapore Daily » Blog Archive » Weekly Roundup: Week 30

The Singapore Daily » Blog Archive » Weekly Roundup: Week 30 — Sat, 25 Jul 2009 02:50:08 +0000

[...] “..it appears that the Government is able to legally STOP paying you out of YOUR [CPF] savings accumulated from YOUR hardwork and locked by a portion of YOUR MINIMUM SUM CPF balances if the Lifelong Income Fund is insolvent.” Panzer [...]

By: Panzer

Panzer — Thu, 23 Jul 2009 13:22:45 +0000

It’s indeed scary for the Government to compulsorily lock up OUR savings and deny us access to it via Minimum Sum Scheme until draw-down age of 65 (or whatever the prevailing CPF withdrawal age becomes).

After which, a portion of our Minimum Sum will be used to fund the annuity that kicks in after 85, in case we outlive our CPF MS payouts after 20 years.

Now while gahmen locked up the non-refundable portion to pay for the annuity (that kicks in after 85), they have given themselves the flexibility to not honour that that payment if the Lifelong Income Fund (that funds your payouts from age 85 and beyond) is insolvent.

I think that is unacceptable because if the insolvency is caused by the Govt or the CPF due to incompetence, gross negligence or neglect, we will suffer the consequences that CPF Life is “No Enough”!

By: theoppressed

theoppressed — Thu, 23 Jul 2009 02:26:25 +0000

very good! now cpf can transfer the billions of losses to this CPF Life fund, and then declare it insolvent, and no need to pay to members.

one good way of accounting away losses.

By: Barbie[Girl]

Barbie[Girl] — Wed, 22 Jul 2009 02:44:37 +0000

hmmm… how does this differ from stealing?

By: Russell

Russell — Wed, 22 Jul 2009 01:54:19 +0000

Insolvency can very well happen.

Look at all shocking things that happened over the past 2 years. Sub-prime, Lehman Bros, AIG, Losses of Temasek, GIC, MAS, Town Councils, etc.

By: Andre

Andre — Tue, 21 Jul 2009 14:22:44 +0000

Yes, your post is very true. However, i feel that not many people out there realized this harsh truth. Have you started any retirement planning? Andre’s last blog post..Finance: House Brands Vs Store Brands