Will Most Singaporeans Earn Enough in Order to Save Enough to Retire?

Roy Ngerng Yi Ling and Leong Sze Hian

At the IPS Forum on CPF and Retirement Adequacy two weeks ago, the Manpower Minister said that, “So when we talk about shifting goalposts, I would say that it’s not about shifting goalposts, I would say the game has changed. The pension system game has changed.”

The Manpower Minister went on to describe what he considers are the parameters for designing the CPF system:

  1. Frequency of work
  2. Wages
  3. Contribution rates
  4. Rates of return
  5. Withdrawals
  6. Draw Down age
  7. Payout quantum

From what the other speakers had discussed at the forum, other parameters should also be included, indeed so since the a large part of the CPF has now been apportioned for housing (55% of CPF Ordinary Account goes into paying for housing loans) and healthcare (21% of CPF contribution goes into Medisave) as well, and the inflation of these items would need to be taken into account:

  1. Housing costs
  2. Healthcare costs
  3. Inflation

The Manpower Minister also showed the following chart of how the CPF works:

Annex - How our CPF works-page-001

Now, this is a chart that retirement planning advisors commonly show to clients, to explain retirement planning.

Why Didn’t the Government Reveal How Much a Person Needs to Earn in Wages and CPF Interest Rates to Meet the CPF Minimum Sum of $155,000?

But note something that is different between what the government has shown, and what typically retirement planning advisors may show.

There are some things that the government seems to have omitted from showing in the chart:

  • How much would a Singaporean be required to save every month to be able to save $155,000 (or the CPF Minimum Sum) after 30 years?
  • How much interest should the savings earn every year to accumulate $155,000 after 30 years?
  • If the CPF would accumulate $155,000 by age 55, how much would it accumulate by age 65, when the CPF payouts starts?

Without this information, how would Singaporeans know whether we are reasonably earning enough in wages and the CPF interest rates, to be able to save enough to meet the CPF Minimum Sum of $155,000?

A Singaporean Today Would Need to Have at Least $234,500 (or a Quarter of a Million) inside the CPF to Have Enough to Retire On

There is also some very crucial information that the government seems to have omitted from mentioning.

First, not only does a person have to meet the CPF Minimum Sum, before he/she is able to withdraw the any excess monies out, a person would also have to also meet the Medisave Minimum Sum (with effect from 1 January 2013). The Medisave Minimum Sum is $43,500, so in total, a person would need to have at least $198,500 inside the CPF at age 55.

Slide1

Second, the Manpower Minister had previously revealed earlier last month that, “Among members who turned 55 years old over the past five years and had used CPF monies to purchase HDB flats, an average of 55% of their OA savings had been withdrawn to finance their flats at age 55.” This means that Singaporeans spend a substantial amount of our CPF (or more than an estimated 30% of our CPF) into paying for housing loans. (And for a higher income earner and someone who purchases a private property, they would be using as much as more than an estimated 60% of their CPF to pay for housing loans.)

Now, this $155,000 CPF Minimum Sum is what a Singaporean who started working 30 years ago would have to meet. So, if we assume a couple had bought a HDB flat about 30 years ago, a flat would cost about $25,000 in 1984. If the couple had used the CPF to pay for their housing mortgage, they would have to pay about $36,000 to pay for the housing mortgage. And in order for a person to have the full CPF Minimum Sum of $155,000 in cash for retirement, a person would need to have an additional $36,000 inside the CPF which had been spent for housing.

In total, today, a Singaporean at aged 55 would have to save a minimum of $234,500 ($198,500 + $36,000) inside the CPF, before he/she would be able to withdraw any access funds from the CPF, and be able to have enough for retirement. Note that “enough” refers to the government’s calculation of the CPF Minimum Sum of $155,000 that would let a person receive a monthly payout of about $1,200 from age 65 for life, or what the government estimates as enough for the basic living of a lower-middle income household.

Slide2

A Singaporean Aged 55 Today Would Need to Have Earned $700 in 1984 to Earn Enough to Retire Today

As such, if we look at this $234,500 that a person would minimally need to save inside the CPF, how much would a person need to earn every month?

This would mean that a Singaporean would need to have earned at least a constant $700* in 1984 at a CPF interest of about 5% every year (averaged out over past 30 years), in order to be able to save $234,500 inside the CPF!

(*Note: For simplicity in illustrating the conceptual issues of our CPF system, salaries have been assumed to be the same throughout, considering that for the last 15 years or so, real wages have hardly grown, CPF contribution rates start to decline from age 50, there is a CPF contribution ceiling, 30 per cent of households spend more than what they earn, job losses and pay cuts, etc.)

Slide3

In 1984, the median wage would be about $1,300, which means that the majority of Singaporeans should have earned enough over the past 30 years to meet the CPF Minimum Sum today!

In view of the above, it then begs the question – if most Singaporeans should be able to save enough, why is it that the government has revealed that 50% of ‘active’ CPF members would not be able to meet the CPF Minimum Sum, even after pledging their property?

And if we look at how many of ‘all’ Singaporeans who are able to meet the combined Minimum Sums of $198,000 fully in cash, only about 15 per cent, or 1 in 7 Singaporeans who reached 55 last year would be able to do so! How come 85% of Singaporeans won’t be able to save enough? What happened along the way?

Slide4

Singaporeans Cannot Save Enough to Retire Because of Escalating Housing Prices, Rising Costs and Unemployment 

Why is it that the majority of Singaporeans cannot retire, even though it looks like they should be able to! Well, in order to be able to retire with enough, a person would need to be constantly employed for the whole duration of his/her working life and never lose a job.

Also, if someone has upgraded his/her HDB flat (instead of staying in the 1984 $25,000 flat illustrated above) to the highest-priced public housing in the world today, lost his/her job, had substantial pay cuts, became self-employed, failed in business, became home-bound for various reasons, fell sick or had an accident and had to stay home in the long term, etc, then this would have meant depleting or having less CPF savings.

Indeed, the dramatic increases in flat prices have a large part to play in explaining how Singaporeans are not able to save enough today. In fact, between 1981 and 1988, four-room flat prices rose by an average of only 2.5% per year, but between 1988 and 1992, prices increased dramatically by an average of 12% every year!” In fact, since 2008 to last year, resale flat prices have grown by 9.1%, land costs have grown by an even higher 18.2%! But incomes have only grown by 5.3%.

Slide5

Slide6

Indeed, in 1999, The Straits Times had reported that Associate Professor Linda Low had said that, “The CPF is slave to so many schemes, it cannot serve all its masters simultaneously.” She also “cited the Government’s decision to allow money in the Special Account to be used to finance mortgages earlier this year as her “greatest disappointment”, (as) implicit in that decision, she notes, was that housing, not retirement, took priority.” And today, we finally see the side-effects of the misplaced priorities.

A Singaporean Aged 25 Today Would Need to Earn $4,000 to Be Able to Earn Enough to Retire in 2044: Majority of Singaporeans Would Not Be Able to Retire

But what if we look at the present cohort of Singaporeans aged 25 who are just starting work?

If we look at how much the CPF Minimum Sum has been growing on average since the mid-1990s, the CPF Minimum Sum would have grown to $365,000 in 30 years’ time in 2044. The Medisave Minimum Sum would have grown to $133,500.

Slide7

If we assume that a Singaporean couple buys a flat for the average $300,000 price today, they would have to spend about $200,000 each to pay for the mortgage.

So, in total, a person would need to minimally have $698,500 in his/her CPF in 2044 to be able to have enough to retire on!

Slide8

And if you work backwards, this means that a person would need to earn a starting pay of at least about $4,000 at the current CPF interest rates to be able to have enough to retire!

Slide9

However, today, more than 60% earn even lesser than $4,000! This means that the majority of Singaporeans today wouldn’t be able to save enough to retire at all!

Slide10

Did the Government Increase the CPF Minimum Sum, with the Knowledge that the Majority of Singaporeans Won’t Be Able to Meet It?

So, if you really look at it, these are the things that the government hasn’t told you. For the majority of Singaporeans aged 55 today, they simply couldn’t save enough to be able to retire today. For the Singaporeans who expect to reach 55 in 30 years’ time, we are also not being paid enough to be able to retire!

So, the government might create a fanciful chart on how the CPF works and increase the CPF Minimum Sum to $155,000, but this is with the knowing that the majority of Singaporeans wouldn’t be able to meet the CPF Minimum Sum and wouldn’t be able to save enough to retire anyway!

Which begs the question which we have asked repeatedly – why did the government create and increase a CPF Minimum Sum, knowing full well that Singaporeans wouldn’t be able to save enough to meet this minimum sum?

Roy Ngerng: Will the Government Increase Wages and the CPF Interest Rates, and Moderate Housing Prices, to Grow Our CPF?

As such, Roy Ngerng had then asked the Manpower Minister the following questions at the forum:

Minister, you have also pointed out that the parameters for the CPF’s accumulation is the frequency of work wages, contribution rates, rates of returns, withdrawals, Draw Down age and payout quantum.

Thus far, the government has increased the CPF contribution rates and asked Singaporeans to work longer to increase the Draw Down age.

However, at a time where wages and the CPF interest rates have grown much slower than the CPF Minimum Sum and where the National Development Minister Khaw Boon Wah had admitted that the government controls the construction program and the prices of HDB flats, will the government consider:

  1. Implementing a minimum wage and increase wages in tandem with the CPF Minimum Sum?
  2. Increase the CPF interest rates in tandem with the CPF Minimum Sum?
  3. Moderate housing prices

to ensure that Singaporeans will be able to truly accumulate wealth in our CPF?

However, these questions were arguably, not answered.

(1) Will Singaporeans Be Able to Save More in the CPF if We Do Not Pay for Land Costs for the HDB Flats?

But let’s just look at these for a moment.

Now, today, for HDB flat prices, land costs take up as much as 60% of prices (Note: However, the Managing Director of Building Technology and City Management, Surbana International Consultants Pte Ltd, had highlighted in his presentation at a World Bank Anchor City Innovations Seminar Series in Washington, D.C. on 7 October 2010, that, “Land Cost (is) not factored into the Sale Price of (an) Apartment (HDB)”). What if Singaporeans pay only for the construction costs, and not for the land since we do not own the land and also, since after the lease of 99 years, the flats would be reduced to having zero value and would be returned to the HDB? This would mean that a person would only need to pay about $80,000 for housing, and not the $200,000 that we would need to pay.

This would reduce what a person needs to save inside the CPF to $578,500.

Slide11

(2) Will Singaporeans Be Able to Meet the CPF Minimum Sum if the CPF Minimum Sum Did Not Increase at Such an Extravagant Rate?

Then, what if the CPF and Medisave Minimum Sum did not increase as dramatically as they have today? What if they had only increased as fast as the average inflation rate of 3%?

If so, the CPF and Medisave Minimum Sum might be only grow to a total of $400,000. And when including for what a person would need to spend for housing, a person would need to save only $480,000.

Slide12

(3) Will Singaporeans Be Able to Save More in the CPF if the CPF Interest Rates are Increased?

But finally, what if we the CPF interest rates are increased? Currently, Singaporeans only earn a 2.5% to 4% interest rate on our CPF (and additional 1% on the first $60,000). The average pension return among developed countries is around 6%.

If the CPF interest rates are increased to 6%, Singaporeans would be able to grow the CPF at a much faster rate, which also means that a Singaporean would need to only earn a starting pay of $1,500 and be able to save enough inside the CPF.

And this is actually quite doable!

Slide13

Singaporeans Would Be Able to Save Enough to Retire If There is a Minimum Wage of $1,500, the CPF Interest Rates are Increased to 6% and Housing Prices are Pegged to Construction Costs

Thus Roy Ngerng had asked the Manpower Minister if the government could increase wages and the CPF interest rates in tandem with the CPF Minimum Sum and to moderate housing prices, in order to enable Singaporeans to be able to retire.

And indeed, when we look at the exercise that we had just gone through, Indeed, if we are able to:

  • Implement a minimum wage of at least $1,500 (currently more than 110,000 residents work full-time for less than $1,000, about 400,000 work full and part-time for less than $1,200 and about 600,000 work full-time and part-time for less than $1,500)
  • Increase the CPF interest rates to 6%
  • Reduce the rate of increase of the CPF Minimum Sum to inflation level
  • Remove land costs from HDB flat prices

then it does look like we have a plan!

We do have a solution to ensuring that Singaporeans would be able to retire adequately!

The majority of Singaporeans would be able to save enough in the CPF and be able to retire!

Slide14

What the Government is Only Willing to Do Now to “Grow” the CPF

Thus far, among the parameters brought up by the Manpower Minister (as highlighted earlier in this article), the government has only been willing to do the following to “grow” the CPF:

  1. Increase the frequency of work: ask Singaporeans to work longer (Singaporeans already work the longest work week hours in the world)
  2. Increase the CPF Contribution Rates: Ask Singaporeans to pay more from our wages into CPF – 37%
  3. Increase the Draw Down age to 65: Retirement age may be increased to 67
  4. Reduce the withdrawal amount: Lengthen the CPF withdrawal period to for life
  5. Reduce the payout quantum: Reduce CPF payouts to be paid over a longer period

But the government has not been willing to take bolder action on the larger reforms required to enable Singaporeans to save enough in the CPF.

One reason could be that increasing wages, the CPF interest rates and removing land costs from HDB flat prices seem to be bigger ticket items, whereas the current “solutions” by the government involve only tweaks to the system.

Slide15

Why the Government Would Take Some Actions to “Grow” the CPF But Not Others?

But here’s another way to look at it.

If you look at the different parameters highlighted in this article, you can broadly categorise them into two groups.

Group A: Real Ways to Grow the CPF by Injecting Funds into CPF – To be truly able to grow the CPF, the government should take the following actions, because this will allow the CPF to actually grow, through a stronger external injection of funds, or by reducing the usage of funds for non-retirement related purposes:

  • Increase wages
  • Increase the CPF interest rates
  • Reduce housing prices

Group B: Grow the CPF by Extending Duration of Labour and Extracting More from Wages – The following actions would enable more CPF to accumulate by asking a worker to work longer, and extracting more of his/her wage into CPF. But note what else it does – it allows the CPF to “grow” without additional fund injection from the government but places the burden on the worker instead (note: the government currently does not spend any money on our CPF system, as essentially all the contributions are made by the people, and contributions exceed withdrawals every year by a wide margin:

  • Increase the CPF contribution rates (again on stagnating real wages and CPF interest rates)
  • Increase the frequency of work by asking Singaporeans to work longer (while still paying stagnating real wages and CPF interest rates)
  • Increase the retirement age

Group C: “Grow” the CPF by Slowing-down Outflow of CPF – Finally, the following actions would prevent the extraction of retirement funds by Singaporeans, thereby delaying the withdrawal rate and thus allowing the CPF to be depleted slower. But these actions do not actually grow the CPF, instead they only slowdown the outflow of the CPF. Again, note what else it does – it allows more of our CPF monies to be stuck inside the CPF, which can be used at the government’s disposal (such as for investment in the GIC – with the excess returns kept by the government and never returned to CPF members):

  • Increase the CPF and Medisave Minimum Sum
  • Increase the years for withdrawals
  • Reduce the payout quantum

Now, of Groups A, B and C, which actions have the government taken?

It is clear that the government has only been willing to adopt actions in Groups B and C but has failed to address Group A actions. And in doing so, it is clear that the government would rather shift the burden towards Singaporeans to grow the CPF by extending our labour years, instead of the government taking on the responsibility by actually injecting at least some funds (instead of spending nothing on the CPF system) or increasing the CPF interest rates.

Slide16

But more importantly, the government’s actions in Group C is what may be most unacceptable.

Perhaps the following will give you a clearer picture. Since the mid-1990s, the government has kept increasing the CPF Minimum Sum, knowing full well that the average net CPF balance that Singaporeans have would never be enough to meet the CPF Minimum Sum! In fact, it has only become more and more difficult for Singaporeans.

CPF Minimum Sum Grows Faster Than the CPF Itself@Facebook

Once you are able to understand this, you will understand why the government has adopted only several measures to “grow” the CPF, but not other more effective ones (of increasing wages and the CPF interest rates). The current measures – most importantly, Group C actions – prevent the government from having to spend some money or increase CPF interest rates to grow Singaporeans’ CPF and shifts the burden onto Singaporeans by forcing Singaporeans to work longer and to part with more of their wages into CPF, while keeping their CPF stuck inside for longer and longer periods.

And not only that, the CPF that gets stuck enables the government to have a ready pool of CPF that is kept aside for their investments (in the GIC).

A truly effective solution would be to increase wages and the CPF interest rates, and reduce housing prices, to allow Singaporeans’ CPF to actually grow. But this policy does not seem to be in the sights of the government. Why would the government not be interested in doing this, when this is the clearest solution to the growing of the CPF monies?

Why would the government instead keep increasing the CPF Minimum Sum, knowing full well that the CPF monies wouldn’t be able to grow and catch up with the minimum sum? Why is the government doing this to keep our CPF stuck inside? For what?

The Solutions to Grow Singaporeans’ CPF are Clear But is There Political Will to Do It?

So, you see, the solutions are there. We have worked it out for you step-by-step:

  • Increase wages and implement a minimum wage
  • Increase CPF interest rates
  • Peg housing prices gradually to construction costs

These solutions would have the immediate effect of ensuring that Singaporeans would be able to save enough to retire. The current piecemeal measures do not allow the CPF to grow with sufficient efficacy.

Again, as we have said many times, the question isn’t about whether there are solutions, but whether there is political will to do it.

There is a glaring problem when the government’s so-called solutions are aimed at increasing the money they can get hold off by keeping the CPF stuck inside, but not by actually growing the wealth of Singaporeans to enable Singaporeans to save enough to retire.

When that happens, you have to question the government.

Indeed, it is outrageous that the government would not consider solutions to actually increase our CPF monies itself, but would instead increase the CPF Minimum Sum, which forces more of our CPF monies to be “trapped” inside.

3rd Edition Of The #ReturnOurCPF Event: Why Singaporeans Cannot Retire Because Of The HDB

It is time Singaporeans stop taking this sitting down. The solutions are there, and in the government doesn’t have the integrity to act on these solutions, then it is time we show them we mean business.

On 9 August, there will be a National Day Protest, and on 23 August, there will be the third edition of the #ReturnOurCPF event. In the first edition on June 7, it was revealed to you many facts that the government has finally admitted to – how they are using our CPF to invest in the GIC. In the second edition on 12 July, we exposed further facts about the estimated number of Singaporeans who were not able to meet the CPF Minimum Sum.

Join us at the third edition as we reveal even more glaring facts about how our CPF is being used by the HDB and for housing, and find out why Singaporeans are not able to retire adequately, because of the HDB. We cannot let up on this fight for answers and for transparency. Our lives are being held in a sense, at hostage, by the government’s lack of transparency and accountability. We must continue to fight for answers, in order to allow our lives to be protected.

You can join the Facebook event page here.

Also, Roy Ngerng’s first court hearing will be held on 18 September 2014, at 10.00am. It will be a full-day hearing.

Return Our CPF 3 Poster Part 2

Return Our CPF 3 Poster Part 2 chinese

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46 comments

    • landragon123

      We are slave to ourselves and saviors to our land and LEE KUAN YEW is slave to Singapore for he give all he have in his body and mind and very soon his SOUL? Long Live Lee Kuan Yew, for when a person is afraid to die, he won’t die so easily and he was saved twice that I heard from rumours, A bullet miss him and someone else took it for him and last year, his pacer stopped but saved in time??? Sorry if I AM wrong for my ears maybe got waxes and many of them?

      • Reply to landragon 123

        “LEE KUAN YEW is slave to Singapore …”

        Lee Kuan Yew may have served Singapore.
        But did he serve Singaporeans?
        Singapore and Singaporeans are not the same thing.
        “Singapore” is the “Singapore reserves.”

        You want proof?
        “You are at the heart of all of our policies. You are the reason why my key men and I entered politics… and we want Singapore to do well so Singaporeans can do well”. Lee Hsien Loong
        – First Singapore or the “Singapore Reserves” must do well.
        – Then by magic of trickle down economics …. Singaporeans can do well.

        I say:
        “We want Singaporeans to do well. So the Singapore reserves can do well.”

      • landragon123

        A PM serve a country but will help the people. How can a PM serve everyone. As long as his policies are right it have served US. The 55 take cares of the Thugs and ISA take care of unworthy oppositions this was wrong sometime but was good to make us stable. A stable country is a strong country in everyway. The CPF was right until his “SICK ” son tweeted it until it is a SIN now.

  1. Alan

    Wow! Another long post that’s filled with lies n repeated rubbish from whatever u have previously. Seem to be useless even when u pulled the fake n crappy Leong into this.

    U can only rely on the surrounding dogs to bark away the truth Prata! Just Hope that u feed them more the shit they are chewing now!

    Lies are Still lies regardless how fancifully u package it. Be forewarn…u time is near!

      • Where are Chris & Oracle ??

        Chris & Oracle are spending quality time with my female dog at a chalet.

      • Deaf Frog's Toothpick

        @ Xmen

        what makes u think that The Oracle, Chris & Alan are different persons?

        on the internet, a name is just an avatar,

        for those who appoint themselves to be Thought Police, it is easy and useful to operate multiple avatars on the internet, when a particular avatar is no longer able to maintain credibility, it will be temporarily cold stored.

      • Alan

        At least all of us stick to just one name when we comment and can be identified easily.

        Look at the various name called among Roy’s dogs when they tried to bark back!

        Probably reflected well on what kind of people supporting him n who he is perhaps!

        And a big joke for him wanting to be interviewed for NMP!

        What a shame!

      • Deaf Frog's Toothpick

        @Alan

        you have not shown any intention to discuss the issues regarding CPF and u r quick to anger.

        fear leads to anger. anger leads to hate. hate leads to suffering.

        there is much fear in you, i hope u do not bring suffering to our nation.

    • masha

      You cannot even point out a single lie. Your accusations ring hollow. Name calling would get you to nowhere. As a rationale moderate, your words can only make me more inclined to believe what Roy has written. Comparatively, he got more credibility than you.

      • Alan

        The Oracle and Chris had rebuked him point by point so u can refer to their posting. Did u ever ask yourself Why he keep repeating and repeating all over again n again even countless flaws had been pointed out?

        And also curious why u people are willing to be his lapdog even u know every credible opposition are shunning away from him?

        He is confusing or convincing u?

      • we want roy

        So what if he repeats? So what if his argument has flaws? I don’t care if he repeats and he has flaws. He is pointing out things that we are entitled to, that is more CPF, and minimum wage. Every Singaporean is entitled to a good life. That’s what the government must give me and family.

        Roy might not have solutions. He might sound like he is complaining. But he is calling out what 99.9% wants.

      • masha

        Alan, their poor attempt at misleading the people are exposed in the responses from those who rebuked Oracle and Chris. If repetition helps bring across a point, why not. Since you have not pointed out any flaws in Roy’s argument but can only defer to other people, then it shows that you are barking for the sake of barking. Any credible proposition will shun away from you too.

      • Alan

        @deaf frog whatever

        What is there to discuss with u people? U are here to ridicule anyone who try to rebuke that liar! The whole pack of rabies infested just pound n chew on anyone without regard if they make sense or not!

        I had seen the Oracle n Chris trying to make u people understand the whole issue but u dogs just refuse to understand what he said n discussed decently.

        So don’t give me the crap about discussion. You K9 don’t deserve it.

      • Francis

        @ALAN, KNNCBB, FARCK U, UNDERSTAND? IF YOU NOT HAPPY, THEN FARCK OFF, THIS IS NOT YOUR BLOODY BLOG. ROY HAS BEEN KIND TO LET YOU SCRIBBLE SHIIT HERE. IF I WERE HIM, I WOULD TRACK DOWN YOUR IP AND DIG YOU OUT FROM YOUR RATHOLE, MUTHERFURCKER CCB.

      • Deaf Frog's Toothpick

        @ Alan

        your comments beautifully captures your hatred and anger like a well taken photograph.

        i hope this is not a strategy to bait others to have an insult war with the objective of corrupting the whole comment section with large amounts of deadwood.

    • LKY's grandson Alan

      Hi LKY’s grandson Alan,
      you just rant, you summarize an rogue PAP ‘s figure, you always remind us of the time is near, do you mean LKY’s deadline is near ? cheers a new era is coming .

      • Alan

        @we want roy

        Entitlement?

        U dogs can be housed in SPCA where your lodging n food can be taken care of. They even clear your shit n bath for you and family too!

        U can also bunk with the Institute of Mental disabled which is exactly like what u behaved. They will also take care of u in every aspect too.

        Lucky u!

      • Alan

        @deaf frog whatever

        See? Told u! See how the rabies affected your pet Francis brain n stinking his mouth?

        U want to discuss u can do it decently with Oracle or Chris! I don’t have the patience to entertain your dogs!

      • Alan

        Masha,

        Discussion for I see it is always accompanied with facts and proofs.

        What I’ve seen is only someone trying to explain the analogy while the other just replied with emotional rant! Just like a mother trying to soothe a stomping kid in the mall. I WANT MY CPF N I DON’T CARE!!!!

        Then u have avatar or moniker or whatever starting to insult them!

        U can find this shit in other blogs and all Prata supporters are alike. So it show what kind of people he attract.

  2. Just a thought

    Other than waiting for the next general election, which probably they will cheat on, is there other legal ways the people can do right now to knock out the current arrogant and couldn’t-care-less greedy and economically-centred ministers?

  3. Looking for great achievements of Lee Kuan Yew

    寻找李光耀的丰功伟绩
    Looking for great achievements of Lee Kuan Yew
    曾经8频道的专题片报道, 李光耀全家人围在一起吃鱼,那条鱼凌晨从日本国的海上刚被捕捉上来, 立刻被安排搭新航头等舱, 来到了李光耀一家的餐桌上。

    一位贫苦了70年的老人看见李光耀吃一条鱼的成本是 25,000.00SGD,这一条鱼等于是一个老人7年的全部生计。

    老人很生气,虽然见不到李光耀本人,行动党成汉通议员变成了老人发泄不满的牺牲品。李光耀随后下令把老人抓起来, 送进监狱,鞭打N下,让老人终身住在监狱里自己为死去而负责。

    8频道继续报道,李光耀做了心脏搭桥手术,效果非常好,好到将生命再生。几千家一辈子也没有被福利过的老人们,他们的心脏眼看就要奄奄一息,当然也想做这种手术,想活得久一点, 可是,需要一大笔钱,他们没有钱, 他们的子女也没有钱,李光耀总是说他从政不是为了钱, 到底国家的钱去了哪里,去了日本的鱼那里,去了李光耀的心脏里, 去了建造很多关起来70岁老人的监狱里 ……

    Once, channel 8 broadcast a documentary, Lee Kuan Yew’s family get together to eat fish, the fish just captured in the sea from Japan in the early morning , and immediately arranged to take SQ first class, came to the Lee Kuan Yew’s dining table.

    One suffered miserable life for 70-year old man, he saw a fish Lee ate it cost singapore currency at 25,000.00 SGD, a fish cost an equal of this 70 years old man’s seven-year livelihoods.

    Old man ( Ong Kah Chua ) are very angry, although he could not get chance to vent his dissatisfaction against Lee Kuan Yew, thus, DAP MP Seng Han Thong became the only victim . then, Lee Kuan Yew arrested the old man , sent to prison, whipping the old man, the 70 old man’s lifetime in jail and paid his own responsibility for his death in prison.

    channel 8 continued to report, Lee Kuan Yew made ​​an heart bypass surgery, the effect is very good, good enough to be life-regeneration.

    hundreds of thousands elderly those whole life never has been welfare, Their heart is nearly dying, of course, want to do this surgery, would like to live longer, However, It need a lot of money, elderly have no money, elder’s children had no money, too.

    Lee Kuan Yew always said he engaged politics not for the money,
    in the end, our state’s welfare gone to where ?

    the state’s money went to Japanese ‘s fish there, the state’s money went to repair the heart of Lee Kuan Yew , went to build up many jails like prisoner above 70 years old man till his die ……

    • landragon123

      Swallow your words if you said LKY did not do good for Singapore? We are talking but his 3 STARS General Son and not the man who build up Singapore until his SON took over and destroyed it. No this not one man that everyone love and also that everybody hate. I love Singapore in LKY days and many will agrees with me accept those FROGS in the Well who just look down and saw water only. If there have look up and saw the SKY, their minds will wake up and think, thinks very carefully, what is RIGHT and what is WRONG. If a person can not judge it, he in not worth to be HUMAN and need to be Humane .

      Why I AM saying destroyed it, for the AG have already reported 5 lapses and many more will comes out of it, like MOH, MOM, MND, LTA, MOT………………how many more just wait and SEE

      • landragon123

        It Should be many BODIES no brains and that is the present PAP government doing everything Wrong and the only rights is their PAY are still the same. 5 lapses already confirmed and how many more before the year 2014 ends?
        Since A11have no Brains, who to ask the questions for their rice bowl is more important and if there said something wrong like LKY, he was SACKED and is now an MP but still gets all the guards at his prison and the bodyguard escorts.

  4. Power to the people

    Power To The People

    Power to the people, right on,

    Say you want a better homeland
    we get on right away
    Well you get on your feet
    And out on the street

    Singing power to the people
    Power to the people, right on

    A million workers working for nothing
    You better give ’em what they really own
    We got to put you down
    When we come into Istana

    Singing power to the people
    we gotta ask you Prime Minister
    How do you treat our brothers
    Wish he be super strong
    live to tell you a suffocating Singapore

    Singing power to the people
    Oh well, power to the people
    Yeah, power to the people
    Power to the people, right on
    Power to the people
    Now, now, now, now

  5. Constructive Dismissal of PAP

    I consider Roy’s blog as part of a process of “constructive dismissal” of the PAP government by Singaporeans.
    What is “constructive dismissal”?
    Reference:
    Straits Times, 15 August 2014, page B3.
    “No right to claim extra if ‘forced’ to resign: Court”

  6. Orafix

    Government needs the help of religion to govern well.
    “Render to Caesar the things that are Caesar’s ”
    And they have religious support on their side.

    Sin’s religion keeps you on the path of righteousness.

  7. Nike

    The PAP is in huge trouble. If they don’t start increasing more and more new citizens through the back door, they will face a huge malcontent in the next general election. What is interesting is that the PAP is still clueless.

      • we love Hui Hui

        Jim,
        no matter people comes from where,
        no matter WHO is new or WHO is old
        no matter Han Hui Hui or you Ms. Jim
        the matter she younger than you,
        the matter you older than her
        She is the sun in the morning 8 -9 o’clock
        You are the sunset in the evening 18 o’clock
        她 Han Hui hui 是早上8-9点钟的太阳
        你是旁晚 7-8点钟日落的夕阳

      • 要怪就怪你们的李光耀

        你们的杨邦孝法官也是来自马来西亚的吉隆坡嘛, 杨邦孝大法官在英国读书时和李光耀是同窗。所以李光耀为委任杨为新加坡大法官,李光耀曾经在国会里透露,他当年是用杨的笔记去考试才得到甲等。很明显,你们新加坡的法院喜欢用一些马来西亚的密友和李光系密切的人做法官, 来伤害自己新加坡人, 请这位Jim女士不要再误解我们马来西亚华人。要怪就怪你们的李光耀。

  8. Jim

    In the above article, Roy summarize what the government can do:
    Group A: Real Ways to Grow the CPF by Injecting Funds into CPF – To be truly able to grow the CPF, the government should take the following actions, because this will allow the CPF to actually grow, through a stronger external injection of funds, or by reducing the usage of funds for non-retirement related purposes:

    Group B: Grow the CPF by Extending Duration of Labour and Extracting More from Wages –
    Group C: “Grow” the CPF by Slowing-down Outflow of CPF –
    He asked :
    Now, of Groups A, B and C, which actions have the government taken?
    But strangely he strongly proposed a solution D instead of looking at ways to grow the CPF, what the PM is going to talk about tonight.
    WHAT IS GROUP D

    RETURN OUR CPF – full stop.

    • 华校生

      比起人家小女孩慧慧的智慧,你比较像隔壁的老妈子, 完全不务正业, 没有独特的思想, 讲话毫无水准, 喜欢疯传八卦,人家来自哪里不重要, 重要的是人家是新加坡人。按照你的逻辑,原籍来自马来西亚中部的黎嘉才(Lai Kew Chai),当初都根本不配被推上法官位置,曾有一个时期传说,他是当新加坡大法官人选之一。由于黎氏与李家上上下下均有来往,尤其是和李家二公子李显扬准将家人交往甚密,每星期惯例有轮流聚餐活动。

      不晓得你是怎么在政府里面混饭吃的 。

      不过, 这个黎嘉才法官由于专门提李光耀一家人做出气筒, 他错判并伤害了很多人,作过违背良心的法官,所以他收到天谴, 他已经死了, 只有65岁。

      这说明,李光耀借刀杀人的手法,其实害到原本无辜的法官,本来法官与受害者毫无瓜葛, 后来被老天爷惩罚,让他患病, 早早死掉, 本来这个死应该轮到李光耀。李光耀一家到处告人,不仅害到人民, 也害到法官, 现在的法官很为难。

      如果打死都要帮李光耀的儿子, 就将受到天谴,
      如果不帮的话,就将没有法官做。没有巨款拿回家

  9. Sam

    The problem is that Lee Kuan Yew said on television that he himself has no any in religious, He said he did not believe in God, think about it, A complete no faith person, How would be a good person to love his people ?
    that tyrant who has put himself as God, He is an extremely cold-blooded tyrant, his time has finished.

    • The Holy God

      Lee Kuan Yew believes in himself.
      His bible is “Hard Truths”.
      And the “Hard Truths” contains all the sacred cows that will never be slaughtered by a PAP government.
      Example:
      1. HDB flats are subsidized and very affordable.
      2. and etc….

  10. Pingback: Lee Hsien Loong at the National Day Rally 2014: Are the CPF Announcements Good Enough? | The Heart Truths
  11. Book&Sword

    LKY created Sin. He is widely known as the Father of Sin. Goh likens the gov to parents. Now is the Son approved? Or be wasted every Sunday?

  12. teoenming

    Singapore Minister Mentor Lee Kuan Yew and Prime Minister Lee Hsien Loong Want Teo En Ming Dead

    Singapore Minister Mentor Lee Kuan Yew and Prime Minister Lee Hsien Loong want Teo En Ming dead. Lee Kuan Yew and Lee Hsien Loong want Teo En Ming to die young. I am only 36 years old. I do not want to die young. I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!!

    In fact, I want to live forever!!!
    In fact, I want to live forever!!!
    In fact, I want to live forever!!!
    In fact, I want to live forever!!!
    In fact, I want to live forever!!!

    Teo En Ming has filed an official complaint against the Singapore Government at the United Nations Human Rights Council Branch and the International Criminal Court. Read the letter here:

    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************

    Teo En Ming’s Open Letter (Plea for Medical Help/Assistance) to World Leaders dated 27 Aug 2010. Read the letter here:

    http://lists.mcs.anl.gov/pipermail/mpich-discuss/2010-August/007811.html

    Mr. Teo En Ming (Zhang Enming)
    Singapore Citizen
    Republic of Singapore
    14 Jan 2015 Wednesday

  13. Pingback: The Truth about the CPF Advisory Panel’s Recommendations: PAP Never Wanted to Increase Our CPF at All | The Heart Truths

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