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29-05-2014, 02:20 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
As I read the numerous threads and posts about the CPF mess that we are in I realised many of us have little ability to frame the key issues and address them. The end result is a confused mess.
Example
The issue is CPF, a central provident fund for one's retirement. Instead we hear posting about how they run their own business, how to invest, making comments about not relying on CPF. When someone ask you about the quality of the latest Mercedes 230. I am sure you are not going to talk about MRT, cheaper to take taxi, or use the bus. This has nothing to do with your investment prowess or how you run your own business.
The key issue are
The poor management of the CPF and the accountability and transparency of the Govt. The central issues are
1) the moving goalposts in relation to the minimum sum and the withdrawal age. In essence what do those who are no longer in employment do to look after themselves until they reach the age of 65.
2) the poor rate of return and the inability to keep up with inflation (rising costs)
3) those parties enriching themselves by treating the CPF as cheap source of investment funds.
There are already 2 PAP (yes, PAP MPs) and 1 NMP who have called for higher rate of return from CPF in parliament yesterday.
Frankly read Roy's blog if you have no idea how to address this.
Pointless telling us how at the age of 2 you started your first business and after the great floods of Bukit Timah in 2010, you lost it all and then re-started and now at the age of 23 you are semi-retired. And then go on to explain what is passive income. These are all helpful and useful but this help the CPF and how it should help society and those that need to rely on it.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?182738-Singaporeans-need-to-shoulder-the-blame-on-CPF&goto=newpost).
As I read the numerous threads and posts about the CPF mess that we are in I realised many of us have little ability to frame the key issues and address them. The end result is a confused mess.
Example
The issue is CPF, a central provident fund for one's retirement. Instead we hear posting about how they run their own business, how to invest, making comments about not relying on CPF. When someone ask you about the quality of the latest Mercedes 230. I am sure you are not going to talk about MRT, cheaper to take taxi, or use the bus. This has nothing to do with your investment prowess or how you run your own business.
The key issue are
The poor management of the CPF and the accountability and transparency of the Govt. The central issues are
1) the moving goalposts in relation to the minimum sum and the withdrawal age. In essence what do those who are no longer in employment do to look after themselves until they reach the age of 65.
2) the poor rate of return and the inability to keep up with inflation (rising costs)
3) those parties enriching themselves by treating the CPF as cheap source of investment funds.
There are already 2 PAP (yes, PAP MPs) and 1 NMP who have called for higher rate of return from CPF in parliament yesterday.
Frankly read Roy's blog if you have no idea how to address this.
Pointless telling us how at the age of 2 you started your first business and after the great floods of Bukit Timah in 2010, you lost it all and then re-started and now at the age of 23 you are semi-retired. And then go on to explain what is passive income. These are all helpful and useful but this help the CPF and how it should help society and those that need to rely on it.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?182738-Singaporeans-need-to-shoulder-the-blame-on-CPF&goto=newpost).