There's been much talk about how when you have to pay the "accrued interest" back into "your CPF", it's still "your money".
Let me explain:
(1) You shouldn't have to put this "accrued money" into the CPF in the first place. Money that you have to sacrifice to put into the CPF means money that you lose which you would have in your hands right now which you would be able to spend if you hadn't put it in.
(2) If you understand how The PAP jacks up prices of the HDB flats because they own it and so they get to do it, you will understand how your HDB mortgage and accrued interests are thus also jacked up. This represents an unnecessary loss of money from your hands, which you would have been able to save and spend if you don't have to pay it to HDB or CPF.
(3) Finally, it you understand how the PAP has made you lent them your money for their investments in Temasek Holdings and GIC to earn up to 16% in interest, while giving you back only 2.5%, you will understand how you are earning very bad returns. In fact, the interest that the PAP doesn't return to you is a tax that they are making you pay to them from your CPF, which means you are losing money from your CPF.
Thus you see this combination of accrued interest and low interests forces money out of your hands into the CPF and since much of it isn't returned to you, it means you have to part with your money, and effectively give it away.
Three very simple concepts. Up to you if you want to see the CPF for what it is or continue holding on to the concepts that the PAP wants to make you believe.
If your CPF is not controlled by the PAP, it can earn a lot more for you and do a lot more. Money that the PAP takes but does not return, when returned, will be able to give you a much better and safer retirement.
Roy Ngerng
*Article first appeared on https://www.facebook.com/sexiespider/posts/10152103554764141?stream_ref=1