The Ministry of Manpower (MOM) has responded to the previous expose article on the CPF: https://thehearttruths.com/2014/04/02/truth-exposed-the-dirty-cpf-hdb-scheme-to-trick-singaporeans/
(You can watch the video of this article here: https://thehearttruths.com/2014/04/09/video-the-dirty-cpf-hdb-scheme-to-trick-singaporeans/)
The MOM conveniently side-stepped these issues:
(1) When you sell the property after 30 years, the so-called “profits” will still be lesser than the accrued interest. And if you have to put the profits back, that means all the money in cash that go out of your hands. This is money that you cannot use, because can you take your CPF out? Effectively, are you actually earning from the sale of your property? The PAP might say your property is your investment to earn from, but with the accrued interest, do you think they actually want you to earn?
(2) The MOM has conveniently chosen to side-stepped the issue of why the CPF Minimum Sum had to grow by more than 10% in some years when inflation was only growing by 1%. Why did they force Singaporeans to keep more in the CPF Minimum Sum when inflation grew by much lesser? Why did the PAP want Singaporeans to retain more than what is necessary, to trap our CPF in?
(3) Also, if the MOM is so concerned about inflation, then why does the PAP only give 2.5% on the CPF, when this is barely enough to cover for inflation, and in some years, is lesser than inflation, which means that the real value of our CPF is actually diminished?
If the PAP is really concerned, then the PAP should start doing what is right first – pay Singaporeans higher interest rates. Otherwise, the PAP’s double-standards stance (finally) only exposes their hypocrisy behind how they want to pay little for Singaporeans and make Singaporeans pay more for them.
The MOM has responded because they know they have to – they have no choice. We’ve forced them to. But this response is neither relevant nor answer the specific questions. The PAP continues to want to hide the truth and not admit to Singaporeans what they have used our CPF for.
Why are Singaporeans forced to forfeit our CPF to the PAP? Why are they choosing to hide information of “OUR” CPF from Singaporeans?
Because the PAP has chosen not to properly response, we can see once and for all that there is something they are trying to hide and our CPF is being played around with by them.
What is the PAP trying to hide?
You can read their response here:
See the illustration of their response here: