Thoughts on CPF and Update Thirteen of Defamation Funds

I was sued by the Singapore prime minister for an article on this blog and have been asked to pay him S$180,000.

Thank you everyone for your support and contributing to the funds for the defamation suit. I am very thankful and grateful for your support. It would have been difficult to do this alone.

As of 10.30am today, I have raised S$27,440.06. S$50 came in over the weekend.

The funds were raised from the POSB bank account and PayPal, and also from customers at my dad’s stall who have been kind enough to support. Also, last Wednesday, a nice lady recognised me on the street and also gave me S$150.

POSB Savings Bank Account 130-23068-7 (Ngerng Yi Ling): S$22,804.70

On Good Friday, a person sent me S$50 via DBS PayLah!

Defamation Suit Funds Raised 28 March 2016.png

This was all the funds that came in since the last update.

My dad sells carrot cake at Block 107 in Ang Mo Kio. Some people had visited my dad’s stall to pass him some contributions.

Some people have also said that they would like to visit my dad’s stall to eat the carrot cake. Just to let you know, he is open on Monday, Tuesday, Thursday and Friday from about 4pm to about 11pm/midnight.

The funds coming in have slowed down. But as long as when there are funds coming in, I will update them on the blog.

CPF Logo.png

Over the weekend, I wrote a post on CPF on my Facebook and thought to share it here:

There are Many Ways to Fix the CPF but There’s a Lack of Political Will

So here’s a thought.

The government now makes Singaporeans pay a huge chunk of our wages – 37% – into CPF, then make us use our CPF to buy housing. When we sell our apartment, we have to pay an interest back.

This is the “accrued interest”. Normally, the government pays an interest on our CPF. But when we take out our CPF to use, the government says since they cannot pay us the interest, we have to pay the interest back. Do you find it weird that the government makes you pay an interest that they should pay?

They say that since you take your CPF out to use, you have lesser CPF to retire on, so they want you to pay the interest back. Shouldn’t it be the government which top up our CPF since they take our CPF to use without returning the interest earned?

But you know, what’s the point? Even if we pay this “accrued interest” back, we still won’t have enough to retire on. For many reasons – depressed wages, low CPF interest, high housing prices etc.

Funny that we pay the highest contribution rate – 37% – in the world for retirement but Singaporeans have one of the least adequate retirement funds in the world.

So, why not this.

Let the government not take so much of our wages into CPF. 37% is excessive. Based on some studies, we might only need to set aside 10% to 15% of our wages to save enough for adequate retirement.

If so, a study should be done to calculate how much wages people should set aside and how much interest they should earn to save enough for retirement. Mind you, we only earn 2.5% to 4% on our CPF. The average pension return globally last year was 6%. So with just 10% to 15% of our wages and a 6% interest, we should be able to save quite well for retirement.

So, let the CPF be just for retirement – what it’s meant to be for anyway. Many economists and academics have proposed this too.

Then with whatever more cash we have left on hand, we can decide to use it to buy an apartment, or to rent one. Or we can invest it in what we want to earn higher interest and be able to save more to buy an apartment – without having to pay an “accrued interest” some more! Our money is our money! No rules by the government and no change of rules without our permission. We are in control.

Then we would have fixed the problem. The CPF will earn enough. We will have cash on hand to decide how we want to use it on our own. The CPF won’t be thrown into housing, to artificially inflate HDB flat prices and with CPF and housing seperate, there’s more transparency.

Good idea?

But they won’t do it, lah. 69.9% voted for them.

And if they reform the system to be more transparent and fair, then where will they get cheap money to invest in GIC and Temasek Holdings?

But CPF is your money, you say? No lah, NMP already say CPF not your money.

69.9% agree. Unless they change their minds lor.

Problem is the government still sees your CPF as their money to invest and to use for infrastructure – just as they took your money to use in the 1970s. And at that time, your CPF was earning a high interest – up to 6.5%. So that’s OK.

But things have changed today. The government shouldn’t have to need the money anymore but they still keep taking to use.

Don’t know is it because they are greedy or what, they then decreased the CPF interest rate to only 2.5% from 1999, so that they can take more to use. And when they take our CPF to let GIC and Temasek Holdings to use, they also don’t tell us.

Old habits die hard, I suppose. But 长江后浪推前浪. You don’t want to wait until you 死在沙滩上. Sometimes we have to move on with the times. Find new ways of doing things. Otherwise, one day, the wheel will stop turning.

There are many ways to fix the current problem. Only whether they want to or not, or dare to.

Problem is the system not only makes Singaporeans scared. It also makes our policymakers and government scared.

How, got hope or not?

Thank You for Your Support for the Fund Raising

As of this morning, a total of $S27,440.06 has been raised. I still have to pay another S$150,000 to the prime minister.

If you would also like to help to defray the costs and damages, you can also fund raise to the bank account at POSB Savings Bank Account 130-23068-7 (Ngerng Yi Ling) or PayPal at Thank you.

The funds coming in have slowed down. But for transparency, I will continue to update on the funds raised and used, on this blog.

Meanwhile, I have also attached my LinkedIn profile here, if it might be of interest.

View Roy Ngerng's profile on LinkedIn

View Roy Ngerng's LinkedIn profile View Roy Ngerng’s profile


Background: In 2014, I was sued by the Singapore prime minister for defamation. The judge ruled in a summary judgment that I have defamed him. I have apologised to the prime minister. I was ordered to pay damages of S$150,000 to him. In a settlement reached with the help of my lawyer Eugene Thuraisingam, I am to pay an additional S$30,000 in costs. In total, including the previous payment that I have made to the costs of the summary judgment (S$29,000) and application for the Queen’s Counsel (S$6,000), I would have paid/will pay S$215,000. 

Last Wednesday, I have paid the first tranche of S$30,000 (of the S$180,000) to the prime minister. From April 1, 2016, for the next 5 years, I have to pay $100 every month. Thereafter, from 2021, I have to pay $1,000 every month until I finish paying.

You can read the previous updates here: [One] [Two] [Three] [Four] [Five] [Six] [Seven] [Eight] [Nine] [Ten] [Eleven] [Twelve]. I would like to thank for reporting about the fund raising. 

You can also read the previous update on the funds raised in 2014 and its usage. I would like to thank The Straits Times for reporting about it. There were also inaccurate online reports that the funds were used to pay overseas trips. This is untrue. You can read more about these in the update here.


  1. common sense

    why don’t the government donate?they got billion billion million million and caring and resilient ministers?

    • common sense

      what i mean was suggesting to ask for donation to childrens cancer society.ask the government to donate.i believe they will be the budget talk they got billions to give away.

  2. jackfruit

    So Roy u managed to beg more than 20k per day..not bad.. so now how much have u gotten ? If exceeded the 180k must say OK ? Spare us Singaporeans OK, we work very hard for our money but if u keep shooting off your mouth and defame people, how to keep on supporting u ah ?

  3. Singapore Citizen Mr. Teo En Ming (Zhang Enming)

    Subtle Denial of Medical Treatment by the Singapore Government for Mr. Teo En Ming (Zhang Enming)



    Mr. Teo En Ming (Zhang Enming)
    Singapore Citizen

  4. Singapore Citizen Mr. Teo En Ming (Zhang Enming)


    Mr. Teo En Ming (Zhang Enming)
    Singapore Citizen


  5. Pingback: Update 15 of Defamation Funds & All-You-Need-to-Know Singapore Statistics | The Heart Truths

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