The Truth about the CPF Advisory Panel’s Recommendations: PAP Never Wanted to Increase Our CPF at All

The recommendations from the CPF Advisory Panel are a sham.

But you most probably knew it anyway. I will share my interpretation here. This article might be a bit long. If we agree that the CPF is the most important thing that the PAP government needs to answer to, then we need to make sense of these “recommendations” so that you will know what the PAP is really doing.

After you go through the article, please take part in the poll at the end of the article on what you think about the recommendations from the CPF Advisory Panel.

Background: Singaporeans Want to Change the CPF because We Cannot Save Enough to Retire

Before we continue, let’s revisit the background again. First, the CPF of Singaporeans is the least adequate pension fund in the world, according to the OECD, which explains why many of our elderly Singaporeans are unable to retire today. Second, the CPF has the lowest returns among all pension funds in the world as well. Third, Singaporeans have to pay the most out of our wages into CPF or social security in the world – Singaporeans have to pay 37% of our wages into the CPF.

So, here is what it is. The PAP government businessmen makes Singaporeans pay the highest proportion out of our wages in the world into the CPF, so by right we should be able to save the highest pension funds in the world as well too, right? But why is this not happening?

Here’s why. First, the CPF earns the lowest returns in the world and so the CPF grows the most slowly of all the pension fund systems in the world. Second, Singaporeans have to pay for the most expensive public housing in the world – we actually use 55% of our CPF Ordinary Account to pay for the housing mortgage, as such this depletes a large proportion of our pension funds. Finally, the PAP businessmen have been taking Singaporeans’ CPF to give the GIC and Temasek Holdings to invest and because of this, the GIC and Temasek Holdings take away a large amount of our CPF earnings. The PAP businessmen refused to admit to this and even denied that they took our CPF to invest in the GIC in 2001, 2006 and 2007. They only finally admitted that they took our CPF to invest in May last year, after they sued me and were forced to admit to the truth. But even then, the PAP businessmen continued to deny that they have ever taken our CPF to invest in the Temasek Holdings when it has been proven that they have. Today, the GIC earns an annualised 6% returns and Temasek Holdings earn an annualised 16% since inception but the PAP businessmen only return 2.5% to 4% back to our CPF, or an average of between 3% to 4%. You can see that we are losing as much as half of our CPF.

So, this is the background – the reason why Singaporeans are not able to earn enough inside our CPF is because the PAP businessmen have been taking Singaporeans’ CPF to give to the GIC and Temasek Holdings to earn but have not been giving back the full returns. In fact, because the PAP businessmen has been taking Singaporeans’ CPF to earn, the GIC and Temasek Holdings today rank as the top 10 sovereign wealth funds in the world, but Singaporeans have the least adequate retirement funds with the lowest returns in the world.

No surprises how this happened – the PAP businessmen has been siphoning off Singaporeans’ CPF to enrich themselves legally.

Solutions: To Grow the CPF, a Responsible Government would have Increased Wages, Reduce CPF Interest Rates and Reduce Housing Prices

Now that we have established the background, let us ask – how then should the CPF be changed?

If we follow the explanation above, then the solutions to increase the CPF are clear.

First, increase the CPF interest rates to at least the level that the GIC is earning, or 6%. Second, reduce housing prices (by pegging flat prices to near construction costs).

In addition, the one reason why Singaporeans’ CPF have not been growing is also because the real wages of Singaporeans have remained stagnant or even declined for the past 20 years. Today, 30% of Singaporeans are not able to earn enough to even spend on basic necessities and have to spend 105% to 151% of what they earn. What this means is that already a significant portion of Singaporeans are not paid enough to survive, so whatever they set aside for CPF will not be enough for retirement as well. As such, the third solution to increasing the CPF would be to increase the wages of Singaporeans.

As it is, because both wages and the CPF interest rates have been growing much slower than inflation, this means the real value of our CPF is actually declining.

Thus as Leong Sze Hian and I have written about this last year, to truly increase the CPF, we need to:

  1. Increase wages by implementing a minimum wage of at least $1,500
  2. Increase CPF interest rates to 6%
  3. Remove land costs from HDB flats to reduce housing prices, so that lesser CPF will need to be paid to housing loans

Slide1

So far, so good.

Now, let’s take a look at the recommendations by the CPF Advisory Panel and see if they satisfy these solutions.

Before I proceed, I am going to use a cup of tea to illustrate the next part of the story.

Imagine that your cup of tea is only half-full now – the tea represents your CPF. Currently, we do not have enough tea inside the cup and do not have enough in our CPF to retire on. To have enough to retire on, we will need to fill up the cup with more tea, and so we need to increase wages, increase the CPF interest rates and reduce housing prices, so that we can fill the cup with more tea.

Preferably what we want is for the tea to be filled up to the brim so that we will have enough CPF to retire on.

Slide2

The CPF Advisory Panel Changed the Name of the “CPF Minimum Sum” but Singaporeans will Still Not Have Enough to Retire On

Now, let’s look at the CPF Advisory Panel’s recommendations.

The panel said that it will rename the “CPF Minimum Sum” to “Retirement Sum”. This “Retirement Sum” comprises three levels: Basic, Full and Enhanced. If someone is able to meet the Basic Retirement Sum of $80,500, he/she would get a payout of $650 to $700. If someone is able to meet the Full Retirement Sum of $161,000 or twice the Basic Sum, he/she would get a payout of $1,200 to $1,300. If someone is able to meet the Enhanced Retirement Sum of $241,500 or three times the Basic Sum, he/she would get a payout of $1,750 to $1,900.

But you see, nothing changes. The “Full Retirement Sum” is basically the current CPF Minimum Sum dressed up in a new name. The “Basic Retirement Sum” is basically what happens when people currently pledge their property to meet half the CPF Minimum Sum – no change again. Thus there is nothing new about the “Retirement Sum” except for a name change.

The only new thing is the “Enhanced Retirement Sum” of $241,500 which as many Singaporeans have observed, only means that the PAP businessmen want to trap more of your CPF inside the CPF.

Bur more importantly, regardless of which “Retirement Sums” you come under, it is not these “Sums” that matter. What really matters is whether you have enough CPF inside to meet these “Sums” in order to receive the payouts.

What we need to realise is that these “Retirement Sums” are only “levels” that the PAP businessmen want to keep Singaporeans’ CPF inside. If you cannot meet these “Retirement Sums”, the PAP businessmen do not mention at all how they will help to increase Singaporeans’ CPF to meet these “Retirement Sums”. Your CPF will still be trapped inside.

So, if you do not have the amount of CPF to meet the “Retirement Sums”, then you cannot receive the level of payouts.

What is so different about this as compared to the old system? Nothing.

Let’s use the cup of tea for illustration.

You see, what the PAP businessmen have done is this – they are now saying that they will give you three cups – a Basic, Full and Enhanced cup, or small, medium, large.

But you see, the amount of tea you have inside the cup is still the same – it doesn’t change.

But what were Singaporeans asking the government to do? Singaporeans wanted the government to increase the amount of tea in the cup. Instead, the PAP businessmen have refused to increase the tea but only provided different cups. Then, what’s the use?

Slide3

Then so what? So what if the PAP businessmen now tell us that we can have three different cups, or “Retirement Sums”? It doesn’t matter. Even if we go under the Enhanced Retirement Sum of $241,500, if we only have $60,000 inside our CPF, we would still be able to withdraw only about $550 every month to use and not the $1,900 proclaimed.

In short, the “Retirement Sums” do not change a thing – in effect, what the PAP businessmen has done is to simply have three levels of the CPF Minimum Sums and Singaporeans will still not be able to meet the Minimum Sum anyway – nothing changes.

The PAP businessmen are not going to and to not want to help you earn more CPF.

You see, I have previously estimated that 73.5% of Singaporeans have less than $77,500 inside our CPF. Thus even with the “Basic Retirement Sum” of $80,500, it still does not change a thing. Previously, 73.5% of Singaporeans cannot meet half the CPF Minimum Sum. Now, 73.5% still cannot meet the “Basic Retirement Sum”. And nearly 90% still won’t be able to meet the “Full Retirement Sum”.

Singaporeans are still not able to withdraw enough to use.

Do you also remember that prime minister Lee Hsien Loong had said in the National Day Rally last year that, “Beyond (increasing the CPF Minimum Sum to $161,000), I do not see the need for any more major increases in the (Minimum Sum)” but the CPF Advisory Panel is now saying that the Basic Retirement Sum will be increased every year by 3% from 2017 to 2020. If already 73.5% cannot even meet this Basic Retirement Sum, then if the PAP businessmen keep increasing this Retirement Sum, doesn’t this mean that more Singaporeans will not be able to meet this Retirement Sum and will still have their CPF trapped inside.

Previously, it was also estimated that only 11.5% of Singaporeans have more than $155,000 inside their CPF. Then how many Singaporeans would have enough inside their CPF to meet the “Enhanced Retirement Sum” of $241,500? Most likely less than 5%, or only the most well-to-do. This means that the large proportion of Singaporeans will still not benefit.

A Government which Really Wants to Help Singaporeans will Help Increase Our CPF

But back to our cup of tea.

You see, all these “Retirement Sums”, by it Basic, Full or Enhanced are all useless.

If a government truly wants to increase the CPF of Singaporeans, it will not give you different cups but yet only pour the same amount of tea into the cups. If a government really want to help you, it will pour more tea into your cup.

And what is the way that will allow you to have more tea? As we have said, it is to increase your wages, increase the CPF interest rates and reduce housing prices.

Slide4

But the PAP businessmen do not want to do this.

The PAP Businessmen Do Not Want to Help Grow Singaporeans’ CPF but Want to Make Our Family Members Pay More

Yet the PAP businessmen said that if you want to increase your tea, sure you can do so – ask your spouse or family member to pour the tea from their cups into your cup. They are asking Singaporeans to top up the CPF of their family members.

First, 30% of Singaporeans already do not earn enough and have to spend more than what they earn, even on basic necessities. Also, the next 30% of Singaporeans only earn enough to pay for basic necessities and nothing else. So, you can see that at least 60% of Singaporeans barely earn enough to make ends meet and can barely save. Essentially, the majority of Singaporeans would have to work for the rest of their lives and never be able to retire.

And what are the PAP businessmen asking Singaporeans to do? To top up the CPF of their family members.  But where at least 60% of Singaporeans already have difficulty even saving enough inside their own CPF and around 75% of Singaporeans cannot even meet the “Basic Retirement Sum”, then how exactly are Singaporeans even able to have the excess money to top up their family members’ CPF?

Again, so let’s go back to the cup of tea.

When we said that we want more tea to be poured into our cups, we are not asking for another family member of ours to do so because either way, all of us inside the family will still not have enough tea inside our cup, no matter how we move it around.

Slide9

Already, the PAP businessmen has taken a lot of our tea and poured into the GIC and Temasek Holdings cups, or teapots. What we are saying is for the government to pour the tea from the GIC and Temasek Holdings pots back into our cups – by returning the interest earned on our CPF back to us.

Slide5

But the PAP businessmen do not want to do this.

A Just Government would Return the Money They Took from Singaporeans Back and Increase Our Wages

The problem now is that Singaporeans already do not earn enough wages so a responsible government would increase our wages. However, the PAP businessmen have instead ignored the low wages that Singaporeans are earning – one of the lowest among the developed countries, mind you. But the PAP businessmen have the cheek to ask low-income and lower-middle income Singaporeans to stretch the little money they have and share it with one another by topping up each other’s CPF, while the PAP businessmen continue to take Singaporeans’ money to earn for themselves.

Rightfully, a responsible and just government would return the money taken from the people back to the people, right? But not the PAP businessmen – they only want to take Singaporeans’ money to earn. Giving back your money means lesser for them, why would they want to do that?

Yet Mr Lee still had the cheek to say that, “How much you need in retirement depends on how much you have been earning, depends on your family circumstances,” when he was asked to comment on the CPF Advisory Panel’s recommendations. If Mr Lee would so much as to acknowledge that whether Singaporeans will have enough to retire on depends how much we earn, then he would know that Singaporeans do not earn enough wages and that the government should rightfully increase the wages of Singaporeans. But the PAP businessmen refuse to do so.

Also, Mr Lee would acknowledge that whether Singaporeans are able to save enough for retirement depends on our “family circumstances”, then he would know that a significant portion of Singaporeans lead difficult lives and would have difficulties topping up their family members’ CPF, then why would the PAP businessmen not return the money that GIC and Temasek Holdings have taken from Singaporeans’ CPF back to us? The PAP businessmen simply do not want to do so.

The PAP Businessmen Do Not Want to Increase Our CPF and Do Not Want to Let Us Take Out Our CPF

Not only that, Singaporeans have been asking the government to return their CPF to them when they reach 55 years old.

The PAP businessmen said, you want you money returned? Fine, we will do so. But we will only return 20% of your CPF and we will only return it to you when you are 65 years old.

But what’s the problem? You see, already half of Singaporeans do not even have $55,000 inside their CPF. After withdrawing 20% of their CPF, half of Singaporeans would have less than $44,000 inside their CPF. This means that with what is left inside, half of Singaporeans would only be able to receive less than $400 in payouts every month.

Again, what then should the solution have been?

Back to the cup of tea, if wages and CPF interest rates are increased and housing prices are reduced, there would be more tea inside our cups, right?

As I had written before, because the PAP businessmen takes our CPF to earn in the GIC and Temasek Holdings, Singaporeans are losing as much as half of their CPF. The average Singaporean will actually lose between $750,000 to $3 million of their CPF.

Now, if Singaporeans are able to rightfully get back their CPF and what is earned, the average Singaporean would be able to save as much as nearly $2 million inside their CPF. If you take into perspective that Singaporeans are already paying 37% of our wages into the CPF, this amount is not far-fetched. In fact, this is pretty much how much we should be actually be able to save inside our CPF.

Then, why is it that more than half of Singaporeans do not even have $55,000 inside their CPF today?

Even if Singaporeans have $1 million inside their CPF, you can even let a person take out 50% or 80% of their CPF and they would still have enough to take out in monthly payouts and be able to retire adequately.

Then, what is the problem here?

If the tea in our cup is properly filled, we would have enough to be able to both withdraw in lump sum when we want to retire and still have enough in monthly payouts for the rest of our lives – we already pay 37% of our wages into the CPF, so we should have saved a lot of CPF by the time we want to retire.

Slide6

And if the experience of other countries follow through, when the CPF interest rates are high, Singaporeans would in fact want to keep the CPF inside our accounts to let our CPF earn interest and grow.

But it is in fact that because CPF interest rates are so low today – and the lowest in the world, which is why Singaporeans cannot earn enough on our CPF and would rather take our CPF out so that our CPF will not get trapped inside.

The PAP Businessmen Still Want to Trap Singaporeans’ CPF Inside

When you put everything together, you will realise that the PAP businessmen still want to trap Singaporeans’ CPF inside for their own use. First, the PAP businessmen refused to increase wages and the CPF interest rates, or reduce housing prices – in other words, the PAP businessmen do not want your CPF to grow. Next, the PAP businessmen do not want to return to Singaporeans the money they took from us, instead they want poor Singaporeans to take from whatever meagre savings they have to pay for their family members – the PAP businessmen wants to keep taking Singaporeans’ monies to earn and does not want to return it. Finally, the PAP businessmen is only allowing Singaporeans to withdraw 20% lump sum from their CPF, and only at 65 years old, so after taking away Singaporeans’ CPF and leaving very little for Singaporeans, the PAP businessmen still want to prevent us from taking our CPF out so that they can keep our CPF inside for themselves.

Singaporeans, as I have said many times, Singapore no longer has a government. The PAP businessmen are raiding our CPF to let themselves get richer, while Singaporeans have to suffer.

The CPF Advisory Panel Pretends to Change the CPF but Nothing Changes

So, do you see now that the recommendations from the CPF Advisory Panel is pretty much useless and is in fact, a sham?

If the above was confusing, all you need to know is this – currently our cup of tea is only half-filled, we do not have enough inside our CPF to retire on.

What a responsible government should have done is to pour back the tea that they have taken from our CPF into our cups so that our cups will be filled with enough tea and we would have enough to retire on.

Instead, what the PAP businessmen have decided to do is to give us bigger cups without putting back the tea. They hope that when they give us bigger cups, they can make us believe that there is more tea. But you can see for yourselves whether there is more tea or not.

Clearly, what this means is that we still won’t have enough tea, or CPF to retire on.

Slide7

There is no point in giving bigger cups when there isn’t more tea, or to help Singaporeans have more tea.

In fact, by giving Singaporeans bigger cups and then telling Singaporeans that if there is not enough tea, we won’t be able to drink it still, this still means that our CPF will still continue to be trapped inside the CPF.

And as mentioned, the only way that the tea will be returned, and for our CPF to be returned, is to increase our wages, the CPF interest rates and to reduce housing prices so that we do not pay so much from our CPF into housing loans.

But the PAP businessmen do not want to do this.

Instead, Mr Lee chooses to turn a blind eye to Singaporeans and said, “In fact, even today, quite a number of people leave their money in their CPF instead of withdrawing it all when it comes to their withdrawal age. They don’t get a lot of publicity, and they don’t jump around at Hong Lim Green, but they quietly know that this is a good deal.

However, what Mr Lee said does not sync with reality. A Blackbox survey showed that 51% of Singaporeans thought that the CPF is unfair and only 37% thought it is fair and of the low and middle-income, 60% felt that the CPF is unfair.

The PAP Businessmen Still Want to Take Singaporeans’ CPF to Earn for Themselves

What can you surmise from this whole “exercise” by the PAP businessmen to “enhance” the CPF? It is another “wayang”, as many Singaporeans have put.

You see, the PAP businessmen never meant to increase your CPF at all. Why should they? If they increase your CPF, they would have lesser money to use for GIC and Temasek Holdings. Why should they let you have the money when they can take it for themselves?

We all know it was all along a sideshow and that the PAP would never increase our CPF. Some of us might have held on to some semblance of hope but I hope that what the PAP businessmen have done this time round have shown very clearly to you that they will not change and never meant to change the CPF to protect the interests of Singaporeans at all.

For the PAP businessmen, their monetary interests and their want for profit will always be more important than Singaporeans, if it is not clear by now.

The PAP businessmen still wants to keep your CPF stuck inside for them to use, they still want to depress wages to profit, they still want to keep the CPF interest rates low to let them earn the excess returns and they still want to keep housing prices high to earn from them.

This is How the PAP Businessmen Wanted to Trick You into Believing that They Want to “Enhance” Your CPF

Before I end off, let me show you what tricks the PAP had tried to use to “convince” you that they are trying to “enhance” the CPF.

When most people first read about the recommendations, they remarked that the recommendations were “complicated”. This is the PAP’s first trick – make the recommendations look so complicated that Singaporeans will believe that the CPF is being enhanced.

Second, the PAP said that they will give higher payouts of $1,750 to $1,900 if someone goes under the “Enhanced Retirement Sum”. A casual glance at this will make people believe that they will be able to get higher CPF payouts. But the PAP businessmen know that only the richest 5% among them will be able to get this payout. 73.5% of Singaporeans cannot even meet the Basic Retirement Sum and will not even be get monthly payouts of $650. 90% cannot even meet the Full Retirement Sum (or previously known as the CPF Minimum Sum).

Third, the PAP changed the name of the CPF Minimum Sum. Many Singaporeans have become very angry with the CPF Minimum Sum. The PAP businessmen hoped that by having a brand name change to the “Retirement Sum”, it can work in two ways. First, they would have hoped that people will forget about the bad reputation that the CPF Minimum Sum has and second, they would have hoped that the change would be so confusing that people will forget about how lousy the CPF Minimum Sum/Retirement Sum is. Well, don’t let the PAP get away easy on this one.

Slide8

By using these tactics, the PAP businessmen believed that they can choose not to increase the CPF and hope to get away with it. Well, will you let the PAP get away with this?

You see, the PAP knows that they need to increase wages and return the interest earned that they took from our CPF, in order to grow the CPF. The PAP also knows that they need to reduce housing prices as well (and housing prices are in their control because National Development Minister Khaw Boon Wan had said that the government controls the housing programme and sets the prices).

But the PAP businessmen won’t do it. They still want to continue making money off Singaporeans.

The CPF Advisory Panel’s Recommendations can Trap Singaporeans Further

But what is worse is not that the PAP still does not want to increase the CPF of Singaporeans. What is worse is how even in the new “recommendations”, there are minefields that can potentially trap Singaporeans.

First, if someone chooses to go on the Enhance Retirement Sum, in the belief that they would be able to get higher payouts, but if they still do not have enough inside their CPF, this means that they whole CPF savings become completely stuck inside the CPF. Second, if someone agrees to defer the Payout Eligibility Age (previously known as the Draw Down Age) to 70 years old, or to only start receiving payouts at 70, this means that their CPF will be stuck inside for a longer time and if they pass away before 70, then they would never have been able to withdraw their CPF.

The PAP Businessmen Still Refused to Answer the Real Questions about the CPF

At the end of the day, after all the sideshow, the PAP businessmen still evaded answering the real questions.

Singaporeans have been asking the PAP businessmen to release the full reports of the GIC and Temasek Holdings, so that we can see for ourselves what the PAP businessmen are taking our CPF to use.

The PAP kept saying that the government does not interfere in the GIC and the GIC claims that it does not know if it uses Singaporeans’ CPF to invest. However, the PAP ministers, ex-ministers and members of parliament are also the GIC’s board of directors, as such it is impossible that the PAP businessmen do not meddle in the GIC and the GIC cannot feign ignorance about not knowing that it uses Singaporeans’ CPF. The PAP businessmen have still not dealt with this clear conflict of interest and continued to pretend that this issue does not exist.

Finally, the PAP businessmen still has not answered how they have kept changing the CPF system to suit their own needs and why they stopped telling Singaporeans how our CPF is being invested by them, until forced to do so after they sued me last year. I have also exposed how the PAP has kept changing the information on the government websites after I managed to trace information on these websites on how our CPF was really invested in the GIC and Temasek Holdings.

Slide10

Should we allow businessmen from the PAP to meddle in our national affairs and take Singaporeans’ CPF monies to use as if it is their own money? Should we let businessmen take control over our money while not explaining to Singaporeans how they have siphoned it away to use?

The PAP Businessmen will Never Help Singaporeans, It is Time to Help Ourselves

You know, you really have to ask yourself if the PAP wants to help you at all.

It is really easy to increase the CPF if a sincere and responsible government truly wants to – implement a minimum wage and increase wages, return and increase the CPF interest rates and reduce housing prices, so that all in, our CPF will grow.

Why did the government not want to do this – and not even do a single one of these solutions?

Instead, why have the PAP businessmen choose to come out with recommendations that are so complicated to confuse Singaporeans? It is clear that the PAP simply does not want Singaporeans’ CPF to grow, isn’t it? And all they are hoping to do is that by making the CPF even more complicated and by giving the illusion that you might be able to get more from your CPF, that they can trick you to believe that they are trying to “enhance” the CPF, by actually doing nothing.

The PAP businessmen want to continue to earn money off your CPF. Your CPF is cheap money for them.

Well, question is, will you let the PAP businessmen trick you again? Will you let them pull wool over your eyes yet again?

It is clear that the PAP businessmen do not want to help Singaporeans. The PAP businessmen do not want to increase the CPF and they do not want to protect Singaporeans. The PAP businessmen are only interested to continue to confuse Singaporeans further, so that they can make off with Singaporeans’ money to earn for themselves.

Question now is, will you let the PAP businessmen get away with this?

The PAP businessmen have hijacked government to allow themselves to make use of your labour to let themselves get rich, by letting you remain poor and have such squeezed lives. Will you continue to let them?

Or will you do what is right to protect yourself? You gave them a chance to fix the CPF but they have not done so. Instead, they tried to trick you to make you believe that they want to help.

But they only want to continue making money off you.

Well, it’s up to you now. I have never voted for the PAP and I am now even more determined to vote them out of government. I am also pretty sure that more than 50% of Singaporeans, or even 60% of Singaporeans today are very angry with the PAP, if you chart the trends.

Then, let’s make the next general election worth our while. Let’s vote the PAP out and bring in a new government, so that Singaporeans can once again be protected.

It’s all in your hands now. Protect our children. Protect our future.

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36 comments

  1. 把老招牌送下台

    PAP錯在哪裡 ?為什麼非下台不可 ?

    1。 討論CPF出路的會議裡面,除了几个官僚,沒有一個普通的人民代表,你們終究不把人民放在眼裡,人民在你們那裡沒有一份。 国人的每天应该吃几碗饭,不该由官僚决定,也不该政府决定, 应该由人民自己决定。在国人55以后,PAP必须无条件地退还我们的CPF 。谴责用对待囚犯的方法继续扣押我们的公积金, 这和限制上国人厕所一样,横行霸道. 不可饶恕 .

    2。追求名利,排名第一,至少要與國人分享的態度,而不是唯我獨霸,自己獨吞。過去50年,你們幾個人獨吞了。

    3。 你們每一個獎盃,都是建立在一批在死亡線上掙扎的無數鮮活生命, 是靠摧残成千上万的国人牺牲,自杀, 破产,残废,无家可归, 走投无路等代价换来的。這個獎拿到了手,也是血腥的。

    4。你们骗取人们的公积金CPF血汗钱,移花接木,偷梁换柱,送给淡马锡,让总理老婆从山鸡变凤凰, 月薪从几千元到排名世界第一有钱人。与比尔盖茨平起平坐, 并接二连三地自己跑到国外去给自己买奖杯 。 玷污了新加坡廉洁的招牌 .

    5。 你们要最有錢。所以不讀書,不听意见,不自我提升,不跟进时代的需要,完全不理睬國人的诉求, 伤透了国人的心 。你们把大楼放在那里,眼看浇花的园丁都一一死去,你们无动于衷。冷血执政。因为你的意思是, 再用死去国人的钱,到国外再买一个人进来, 死去一个,买进一个 ? 你们不认识柴米油盐几个字,没有良知道德底线。

    6。 国人可以去YouTube看他的录像带, PAP的李光耀在当年大选中扬言要为给国人基本福利而战,他赢得了民选。 但过去50年证实这是个骗局。

    7。 你们用一张嘴巴,在国会里为自己的贪得无厌, 向人民乞讨千万薪水福利的时候,老实的新加坡人民协助您如愿以偿。 但是, 你们一家三代曾在英国读书,深知英国福利制度对国民生计的保护, 都不愿意学习他们的1% 来善待国人, 你们对国人的吝啬,不配受到国人的尊重, 更不配拿取国人的天价薪水血汗钱. 你们与臭名昭著的缅甸独裁排名不分先后。

    8。所以, 當人們排隊向國會議員求助的心理狀態是極其負面的,過程如乞討,因此,你们的在位, 是矮化国人的过程。本来一个国家给人民的福利,是系统地按照每月户口,电子银行发放口粮,而不该通过乞讨或投诉产生。

    ……

    徐顺全博士,刘程强先生,林瑞莲女士,Leong Sze Hiang 先生 等, 将是新加坡人民当之无愧的领袖团队, 他们从人民中走来,认知国人的疾苦,代表人民的意愿,他們會向人們彎腰, 聆聽意見,照顧老人,發展外交, 穩定經濟,解決就業, 挽救家園。

    新加坡人民隆重地推选他们, 为国牺牲与家人团聚的时间, 是人民需要的领袖。他们上任后,軍隊,警察,財政部,國防部,等等一切国家机器属于国家所有,不會改變。

  2. William

    This cup analogy is very easy to understand even for old people. I hope opposition party can print out your article on CPF and send to every Singaporean out there. We need a total change of govt.

  3. 把老招牌送下台

    1. 徐順全(Dr. Chee Soon Juan,1962年-)
    1990年從美國喬治亞大學取得哲學博士學位,參與政治前為神經心理學家。並且在新加坡國立大學心理系任教。新加坡民主黨秘書長。

    2001年,指控總理李光耀隱瞞國會,向印尼前總統蘇哈托提供總值一佰七拾億新幣貸款。而後被控告誹謗。法院判決徐順全需賠償李光耀五十萬新元 。

    2006年4月徐順全因為“无准证演讲”而被罚款五千新元,至同年11月因未能缴付罚款,而与另外两名民主党成员一同被判入狱五星期。根据民主党发表的文章,徐在狱中出现晕眩、作呕、难以入睡等症状,引起了外界认为徐遭下毒的揣测。在公布徐的健康状况四天后,新加坡官方称徐的待遇“与其他囚犯一样”,并指民主党的言论“毫无根据、恶意抹黑新加坡监狱名声的”。12月3日,医生验出徐的尿液带血,徐随后被送往樟宜综合医院接受治疗。

    2006年, 因為無力繳納五十萬新元的賠償金,而被法院宣告破產 。
    2008年5月,因為06年的選舉中人民黨在其黨報上指控李光耀政府涉入NKF醜聞,而與李光耀在法庭上辯論,最後法院判決徐順全跟他妹妹徐淑真以及民主黨須共同賠償李光耀父子倆人共61萬新元。

    ——————- 徐順全博士單槍匹馬, 與獨裁作戰, 被稱譽為新加坡的曼德拉。一位不屈不饒的新加坡男人 。

    2. 刘程强先生(Low Thia Khiang, 1956年-),畢業於新加坡南洋大学,是新加坡工人党 的秘书长,祖籍廣東潮州。他自1991年以来便是新加坡国会后港单选区的国会议员。刘程强已婚,并育有二男一女。

    在2001年,刘程强取代了惹耶勒南,成为工人党的秘书长。连续四次击败执政党人民行动党的候选人。

    2011年刘程强轉戰鄰近後港區的阿裕尼集選區,成功擊敗現任外交部長楊榮文的團隊,成功奪取了新加坡史上第一個由反對黨獲得的集選區。
    ———————-刘程强先生, 他沒有背景, 一步一個腳印。是兄長, 也是領袖,有團結民眾的凝聚力。

    3. 林瑞蓮( Sylvia Lim Swee Lien , 1965年-)是新加坡工人党的党主席,也是本屆国会阿裕尼集选区的「国会議員」。畢業於新加坡國立大學法律系,1989年在倫敦大學獲得法律碩士學位,1991年加入新加坡警察部隊擔任警官,之后于淡马锡理工学院担任法律學讲师,同时负责商学院的部分事务。 2011年新加坡大選,林瑞蓮與秘書長劉程強等人參選阿裕尼集選區,成功擊敗時任外交部長楊榮文率領的人民行動黨團隊,創下新加坡史上首次由反對黨獲得集選區議席的紀錄。当选议员后,林瑞莲辞去讲师的工作,加入刘彼得律师事务所。

    ————– 林瑞莲女士, 她不但有專業的法律資格, 更重要的是她誠實正直的優良品德, 是新加坡人民的典範。

    推舉他們當選領袖,為新加坡人民的福祉做出貢獻.

  4. patrick

    business govt. I feel cpf is savings to buy pap products and services. the big ticket items are education, hdb and medical. they are everywhere from cradle to grave, kk, schools, university, smrt, singtel, SP, ntuc, SIA and finally end up with Fairprice Funeral. hdb is priced on ‘affordability’, not on cost+. a hdb unit may cost 100k to build and since you have 500k in cpf, its likely priced at 495k.

  5. An ordinary Singaporean

    “Solutions: To Grow the CPF, a Responsible Government would have Increased Wages, Reduce CPF Interest Rates and Reduce Housing Prices”
    Just a slight correction: Do u mean increase CPF Interest Rates and not Reduce?
    WELL WRITTEN EXPOSITION, I LIKE!

  6. Jonah Lim

    Your articles always have so many assumptions, weak justifications and exaggerations. Please ask your friends with at least a Finance degree to know that the CPF system makes much sense. Of course, don’t ask your Uncle Leong, I’ve traced his background and all his Master degrees are not the “real” Master degrees LOL

  7. An overseas Singaporeans

    check background ? even check his eight generations of ancestors, we don’t care.

    as long as he did not divert our cpf into his wife ‘s pocket . the rest aspect are secondary, not influence to our people respect him. we only see he stand there for us and serve for our people . he is a good man.

    those who got our vote but do nothing , even with a millions certificate , never help us. So what use is it ?

  8. ONLY MINOR TWITCHES FOR RICH

    Looking at the review, there are practically no significant changes to the CPF system. The CPF monies for the poor and little remain untouchable. You dont need a panel of academic intellects to think of such ideas, even a high school graduate can do a better job. Just vote them all out, and you will get back all your money immediately.

    • Harry

      “You dont need a panel of academic intellects to think of such ideas, even a high school graduate can do a better job.”

      Precisely. But they are there to complicate things so that they can justify their loaded brains to the masses.

  9. LKY is a liar

    thanks Roy for analysis,

    let’s reviewed that following speech recorded by Lee Kuan Yew,

    1. ” what’s about our privileges, first the welfare, the survival of the people. the the democracy launched and process.”

    2. ” the same law also apply to me. ”

    after read above, review his ruling 50 years, diametrically contrary:

    1. Not only never share half cents welfare to Singaporeans , but also occupy our own hard earned money till we die .
    2. he and his son together sued Singaporeans for 27 times, and won all cases, how is possible ?

    It is proved that he is not mentor , but a professional liar .

  10. SIMPLE

    Let examine the Dutch Pension Funds
    – Low interest rates hit big Dutch pension funds yet again
    Four of the five big Dutch pension funds do not have enough money to meet government requirements, the funds themselves said on Friday.
    Pension funds are required to have a coverage ratio of over 104%, meaning their assets slightly outstrip their pension obligations.
    Engineering fund PME, which has 630,000 members, saw its ratio fall to 102.6%. Chairman Franswillem Briët said European central bank policy is making the position of pension funds worse. ‘Keeping interest rates deliberately low is stopping pension funds’ financial recovery,’ he told nu.nl. ‘I can be happy with our annual return of 17.8% yet it is still not enough.’

    Return rate – 17.8%
    yet cannot meet obligation

    WHY? Whether it preform depends on the market environment. Members have to be responsible for its performance. It is not guarantee by the Dutch government.

    Read more at DutchNews.nl: Low interest rates hit big Dutch pension funds yet again http://www.dutchnews.nl/news/archives/2015/01/low-interest-rates-hit-big-dutch-pension-funds-yet-again.php/

  11. SIMPLE

    “The PAP businessmen are raiding our CPF to let themselves get richer, while Singaporeans have to suffer.”

    Statement like the above is not helpful in your suit. Only my opinion.
    Just like most of your article, its yr opinion feel free to disagree and throw them to the dustbin.

  12. Pingback: Daily SG: 6 Feb 2015 | The Singapore Daily
  13. Pingback: The $29,000 has been Paid to Lee Hsien Loong’s Lawyers from Drew & Napier | The Heart Truths
  14. President Teo En Ming, Federation of the Universe

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

    Minister Mentor Lee Kuan Yew and Prime Minister Lee Hsien Loong of Singapore 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!!! I want to be an immortal!!!

    In fact, I want to live forever!!! I want to be an immortal!!!

    In fact, I want to live forever!!! I want to be an immortal!!!

    In fact, I want to live forever!!! I want to be an immortal!!!

    In fact, I want to live forever!!! I want to be an immortal!!!

    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:

    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    =========================================================================
    =========================================================================

    Mr. Teo En Ming’s Open Letter (Plea for Medical Help/Assistance) to World Leaders dated 27 August 2010. The letter dated 27 August 2010 is the most recent letter! 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
    7th Feb 2015 Saturday Singapore Time

  15. President Teo En Ming, Federation of the Universe

    Press Conference by Prominent Singapore Human Rights Lawyer M Ravi on Contesting the Upcoming General Elections Against Prime Minister Lee Hsien Loong in Ang Mo Kio GRC on 6 Feb 2015 Friday. Mr M Ravi also alleges that Roy Ngerng Yi Ling has the intention to flee Singapore and abscond with the donations and shares his views on the recent Thaipusam saga.

    Filming by Teo En Ming (Zhang Enming)

  16. Pingback: Overwhelming Support For CPF Flexibility
  17. President Teo En Ming, Federation of the Universe

    Dear Fabrications About The PAP and other Facebook Users,

    Roy Ngerng Yi Ling DID NOT flee Singapore and abscond with the donated money. There is very clearly a mis-understanding between M Ravi and Roy Ngerng, as explained to me by Leslie Chew and various quarters. We are trying to patch things up between M Ravi and Roy Ngerng. We sincerely hope M Ravi and Roy Ngerng could still remain as friends. The Singapore Government is apparently trying to sow discord between M Ravi and Roy Ngerng. Please delete and stop circulating my video. This video is my intellectual property, I filmed it and it cannot be used without my express permission. Again, I request you to delete and stop circulating my video as soon as possible. I have also taken down my Original Youtube video. Thank you very much.

    Yours sincerely,

    Teo En Ming (Zhang Enming)
    Singapore Citizen

  18. President Teo En Ming, Federation of the Universe

    [YOUTUBE VIDEO] Launch of the Singapore Democratic Party Economic Policy Paper by Dr. Chee Soon Juan on 7 Feb 2015 Saturday

    Dear Citizens of the World,

    I have just completed uploading my video coverage of the presentation by Dr. Chee Soon Juan to Youtube at 6:25 PM SGT. Video rendering on my Intel Core i5 4430 desktop computer took a solid 4 hours for a 2 hr video. Youtube may take another 10 hours to process my video before it becomes online. Please wait patiently for my Youtube video. The presentation by Dr. Chee Soon Juan started at 2:00 PM SGT on 7 Feb 2015 Sat. I was late for the presentation by 45 minutes due to another important matter that I had taken up. I am very very sorry for being late.

    Filmed by Teo En Ming (Zhang Enming)
    Singapore Citizen
    8 Feb 2015 Sunday

    COPYRIGHT NOTICE:

    COPYRIGHT © 2015 TEO EN MING (ZHANG ENMING)
    SINGAPORE +65-9117-5902

  19. teoenming3

    Dear National Heart Centre Singapore, Dr. Lim Tiong Keng, Dr. Jack
    Tan, Changi General Hospital, Tan Tock Seng Hospital, Singapore General
    Hospital, United Nations Human Rights Council, UN Special Rapporteur on
    Torture, United Nations Human Rights Treaty Bodies, Doctors without
    Borders, Reporters without Borders, Human Rights Watch, the
    International Criminal Court, European Court of Human Rights, Court of
    Justice of the European Union, General Court of the European Union, and
    Wong Siew Wah @ Pinnacle Credit Services Pte Ltd,

    FILE NO: PA9104228
    BILL NO: H114056756D0001

    Could you tell Dr. Lim Tiong Keng at the National Heart Centre
    Singapore that I want to do a FULL Chest MRI to find out the cause of my
    intermittent mild chest pain? My intermittent mild chest pain is
    occurring randomly. On some days, I may not notice the chest pain at
    all. However, on other days, my intermittent mild chest pain may occur
    more frequently. The location of the intermittent mild chest pain is
    somewhere near the center of the chest and slightly offset to the left.
    There was a sudden onset of intermittent mild chest pain since 2nd
    October 2014, which is almost six months already. I am still considering
    a 2nd CT coronary angiogram as I fear it may cause CANCER. I have
    already went through two CT scans in the past. The first one is a CT
    coronary angiogram done at Mount Elizabeth Hospital in Singapore in
    November 2011. Everything was NORMAL. Zero percent stenosis and zero
    calcium score in all tests. Perfect health report card!!! The second one
    is a CT brain scan without contrast agent done at Tan Tock Seng Hospital
    in Singapore recently. It was also NORMAL. Hence I have only done two CT
    scans so far. I am afraid to do another CT coronary angiogram as it may
    cause CANCER. Computed Tomography (CT) scans involve large amounts of
    harmful ionizing radiation.

    Very recently (December 2014 I think) my 24-hour electrocardiogram
    Holter test and Cardiac MRI done at National Heart Center Singapore
    were also normal. But Dr. Lim Tiong Keng said that he cannot confirm
    whether I have blockages/narrowing in the coronary arteries without
    another CT coronary angiogram. Should I do another CT coronary
    angiogram in the view that it may cause cancer? Dr Lim Tiong Keng also
    told me that my cholesterol and triglycerides levels are very high. I
    took the cholesterol-lowering medicine atorvastatin every day without
    fail and it has brought my cholesterol and triglycerides levels under
    control.

    I have sudden onset of intermittent mild chest pain since early
    October 2014, which is almost six months already. I have been to
    hospital emergency departments in Singapore NUMEROUS times (I LOST COUNT
    ALREADY) complaining about intermittent mild chest pain but the
    emergency doctors in Singapore always tell me that my simple blood test
    and simple ECG are normal and they always sent me home without further
    investigations. The emergency doctors in Singapore are not interested in
    investigating the cause of my intermittent mild chest pain at all. They
    conveniently say it is a-typical chest pain and probably due to
    muscular-skeletal pain rather than coronary heart disease. All the
    Singapore doctors I have seen are not doing anything about my
    intermittent mild chest pain at all. A few Singapore doctors even wanted
    to prescribe me PANADOL/PARACETAMOL for my intermittent mild chest pain.
    What good is Panadol/Paracetamol in treating heart disease, if it is
    indeed heart disease which I am suffering from? These Singapore doctors
    simply don’t want to solve the ROOT CAUSE of my intermittent mild chest
    pain. How can Panadol treat heart disease? For God’s sake, it is for treating headaches and fevers
    only!!!

    I should be prescribed anticoagulants, also called blood thinners;
    aspirin and other anticlotting medicines; ACE inhibitors; beta blockers;
    calcium channel blockers; nitroglycerin; glycoprotein IIb-IIIa; statins;
    and fish oil and other supplements high in omega-3 fatty acids instead.

    If there are narrowed coronary arteries in my body, I should undergo
    angioplasty, stenting, and coronary artery bypass grafting (CABG).

    I have mentioned before a lot of times that I am being persecuted,
    targeted, blacklisted, and condemned by the Singapore Government for
    ***UNWITTINGLY*** offending Minister Mentor LEE KUAN YEW and Prime
    Minister LEE HSIEN LOONG in the year 2007 and 2009.

    Yes, I have access to health care in Singapore. The doctors in
    Singapore are willing to see me. Because I have been unemployed for
    more than one year, I get free medical consultation and free medical
    examination, all paid for by the Singapore Government.

    BUT all the Singapore doctors I have seen CONSISTENTLY REFUSE to
    certify/diagnose that I have coronary heart disease. So do I have
    heart disease or not? Having intermittent mild chest pain for five
    months or more is almost a sure sign that I have narrowing of the
    coronary arteries (angina). By refusing to certify that I have heart
    disease, the doctors in Singapore can avoid giving me the correct
    treatment for my medical condition. So the doctors in Singapore are
    willing to see me but give me the wrong diagnosis (that is,
    muscular-skeletal pain in the chest) and give me the wrong treatment
    (Panadol for chest pain!!!!!)

    *****FROM THE WAY I SEE IT, IT IS A ((SUBTLE)) DENIAL OF MEDICAL
    TREATMENT BY THE SINGAPORE GOVERNMENT. I HAVE BEEN MARGINALISED.*****
    VERY VERY SUBTLE INDEED.

    I DO NOT WANT TO DROP DEAD SUDDENLY. I DO NOT WANT TO DIE YOUNG. I AM
    ONLY 36 YEARS OLD. Come 5 March 2015, I will be 37 years old.

    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.

    It is known that the marine creature Jellyfish is biologically
    immortal. It simply refuses to die. If jellyfish can be biologically
    immortal, why can’t human beings be immortal as well? It is certainly
    not impossible and far-fetched to say that human beings will become
    biologically immortal in the near future. Who knows? Anything in the
    Universe is possible. As a scientist, you need to have an open mind.

    I ALSO WANT TO BE AN IMMORTAL LIKE THE JELLYFISH AND LIVE FOREVER!

    I ALSO WANT TO BE AN IMMORTAL LIKE THE JELLYFISH AND LIVE FOREVER!

    I ALSO WANT TO BE AN IMMORTAL LIKE THE JELLYFISH AND LIVE FOREVER!

    I ALSO WANT TO BE AN IMMORTAL LIKE THE JELLYFISH AND LIVE FOREVER!

    I ALSO WANT TO BE AN IMMORTAL LIKE THE JELLYFISH AND LIVE FOREVER!

    Please transmit my entire letter to Dr. Lim Tiong Keng and ask his
    secretary to call me to fix an appointment for Full Chest MRI. I would
    also like to consult Dr. Jack Tan at the National Heart Center Singapore
    as well. Dr. Jack Tan has been recommended to me by Pius Gilbert Louis,
    who is also targeted by the Singapore Government and the Secret Police
    in Singapore. Gilbert Louis says that the Secret Police in Singapore is trying to kill him. He has suffered five heart attacks and survived. He suspects that the Secret Police in Singapore has tainted his food with poison, which causes him to suffer heart attacks.

    I have visited the emergency departments in public hospitals in
    Singapore many many many times but no medical professional gives a
    damn about my intermittent mild chest pain. They simply don’t care. The
    doctors I have seen in Singapore don’t bother investigating the real
    cause of my intermittent mild chest pain. I am always discharged by the
    emergency doctors who always say that my blood test and ECG are normal.
    The American National Institute of Health website has already stated
    that chest pain is one of the symptoms of heart disease. It is also
    COMMON SENSE that if you have chest pain for a prolonged period of time
    like several months, it is very likely to be due to heart
    disease. I WONDER WHY THE DOCTORS IN SINGAPORE DON’T HAVE COMMON SENSE?
    What is holding the doctors in Singapore back from certifying
    that I have coronary heart disease? Did Prime Minister Lee Hsien Loong
    and Minister Mentor Lee Kuan Yew gave a call to all the doctors in
    Singapore telling them not to save my life??? Were all the doctors in
    Singapore warned, threatened, or bribed by the Singapore Government not
    to save my life?

    I have a very strong belief that Prime Minister Lee Hsien Loong and
    Minister Lee Kuan Yew want me to be very complacent about my health and
    they want me to die young.

    I have a very strong belief that Prime Minister Lee Hsien Loong and
    Minister Lee Kuan Yew want me to be very complacent about my health and
    they want me to die young.

    I have a very strong belief that Prime Minister Lee Hsien Loong and
    Minister Lee Kuan Yew want me to be very complacent about my health and
    they want me to die young.

    I have a very strong belief that Prime Minister Lee Hsien Loong and
    Minister Lee Kuan Yew want me to be very complacent about my health and
    they want me to die young.

    I have a very strong belief that Prime Minister Lee Hsien Loong and
    Minister Lee Kuan Yew want me to be very complacent about my health and
    they want me to die young.

    They can live to a ripe old age but I can’t? By the way, both of my parents are already over 70 years old.

    Thank you very much for your kind attention.

    I am looking forward to your prompt reply.

    Yours sincerely,

    Mr. Teo En Ming (Zhang Enming)
    Singapore Citizen
    Mobile: +65 9117 5902
    Fax: +65 6725 0731
    Republic of Singapore
    3 March 2015

  20. Pingback: 20150704 PAP outrageous, not Roy’s allegations about CPF | likedatosocanmeh

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