CPF: What Is The Real Truth?

When someone comes to me and shares a conflict or some unpleasant encounter with another party, I try my best to keep an open mind by not concluding based on all that he/she tells me. 

I will, at least maintain that till I have found out the facts from the whole situation and after listening also from the other parties involved. That way I would have a balanced and complete picture in order to make a good and wise judgement or conclusion. 

In regards to the CPF tweaking plans in implementing the complusory annuity for all Singaporeans, most of us have heard a plenty from our government’s side of the story through their our mainstream media. But what about the other side of the story- the people?

Here’s an extract of a comment made from a fellow Singaporean in this blog that should set us to think alittle bit more about what the new CPF plans spell for us ahead.

What is the real truth? You decide…

If I remember well, when I started work as a teenager in 1968, I was told by my boss that 25% of my pay will go to CPF. He will contribute 25%. My boss said, “That’s law, don’t worry. Government guarantees you’ll get it all back when you retire at 55”.

On reaching my retirement goal- age of 55, I was shocked that they have moved the goalposts many times since I started work at 1968. My money wasn’t my money anymore. Yes, there’s Special, Medisave & Retirement Account – SMRA – “You can’t touch these!” A hip hop/rap song?

For those who “catch no ball” about the CPF system and latest Longevity Insurance Scheme, read here>>>