I am a senior citizen. By right I should be getting all my CPF savings when I reached 55. But they changed the rules and created a Retirement Account and forcibly transferred some of my savings into this Account. I am angry but kept quiet since there is nothing I can do. They wrote the laws and approved whatever laws they decided. Dunno which turkey decided on this. So far no one dares to admit it. Was it discussed and approve in Parliament?
Now they created another account called Medisave Minimum Sum Account. And they forcibly transferred some of my savings into this account. Very unhappy but cannot do anything. The people elected them so they think they can do anything they want.
Now I am getting angrier. If my savings are kept in the Retirement Account, I shall be getting 4% interest rate. I just found out that my savings in the Medisave Minimum Sum only get 2.5% interest. Correct me if I am wrong, but this is in my CPF statement.
Why am I being paid of 1.5% of interest lesser? The CPF suka suka changed the rules and suka suka fixed the interest rates. What, senior citizens all ‘boh tak cheh’ and you can do anything you want ya?
Tell me if this is fair? Letting you keep my savings for as long as you want is already damn ‘pek chek’. Now you created new accounts and pay me lesser interest. You want to bully senior citizens is it?
All my plans to be emperor in Batam or Lijiang got screwed because you refused to return my savings as contracted when I became a member more than 40 years ago. Do I have the right be angry?
Chua Chin Leng AKA RedBean
*The writer blogs at http://mysingaporenews.blogspot.com/