You have to admit: this whole CPF debacle just seems to get bigger and bigger. Now obviously this isn’t all solely attributable to the LHL vs Roy Ngerng case, although the less informed may choose to think so. Instead, it’s certainly a case where the changes to the Minimum Sum have left many people confused, and even after MP Hri Kumar Nair organised a forum for his constituency, there seemed to be even more questions raised — and even the Straits Times seems to agree.
“Peace of mind”? Where??
No doubt Roy’s run-in with the Prime Minister himself had caused a lot of public attention to be drawn to the “lapses” that seemed to have been evident as early as 2007, as brought up by Lim Swee Say (read story here)
But what made me feel disappointed disgusted was how this 76-year-old lady was treated when she voiced her questions at the very forum Hri Kumar organised, and you can see how she was rudely cut off by the grassroots leaders at the event:
Even more appalling is this response by Fabrications Against the PAP:
THIS IS ABSOLUTELY DISGUSTING.
And if the accusations of FAP (what kind of dumb-ass acronym is that??) being the political Internet Brigade (IP) of the ruling government is true, then I’d say they would have done their political masters a great disservice.
If the PM sues a blogger for trying to damage his reputation, then surely this old lady has every right to seek legal action against what is clearly an invasion of her privacy by the blatant disclosure of where she lives.
So what is the FAP (and hence the PAP?) trying to say: that if I am asset rich and lived in a million-dollar property, then I must necessarily rescind all rights to claiming my CPF monies, even if this amounts to a lot less than what I already possess in my bank account?
Well if that was the underlying message, then the people overseeing the CPF monies of Singaporeans can sod off: don’t forget that the CPF is a significant monthly deduction off the salaries of 99% of Singaporeans– for the ones lucky enough to make millions in a year, be it by means of merit or simply having the good karma and a lifetime membership to the 1% lucky sperm club being born into rich families, the maximum monthly contribution of $5,000, or $60,000 a year is probably small change; but for the rest of us who aren’t lucky to be holding multi-million dollar ministerial jobs or are CEOs of our daddy’s companies, the monthly contribution deduction of 20% of salaries is a sizeable chunk especially for those earning below SGD 3,000 a month.
So rich as this auntie may be, are you telling me she has no right to claim back her CPF monies that she contributed during the course of her adult working life just because she lived in a larger house than the FAP idiot who put up the post? Incidentally, those blokes clearly need to brush up on their English if they’re going to be spamming everyone with their brainless comments, lest we start thinking the ruling party has serious issues with the selection criteria of their league of defenders on the World Wide Web.
Get real: she has every right to do it, and I don’t care if half the Members of Parliament and Cabinet Ministers disagree with me.
And dig this — did it occur to our dear million-dollar MP to at least have one representative from the Central Provident Fund Board to help answer questions? Maybe then, there wouldn’t be “questions and more questions”, to quote the official news media.
In the wake of all this, and I posted this earlier on my FB status:here’s a challenge to the powers-that-may-be from yours truly that I don’t need the government and/or the CPF board to take care of my retirement needs AND STILL BE BETTER OFF than people who remain under the CPF system. In other words I daresay I’m smarter than those clowns entrusted to look after my retirement funds at CPF in terms of growing my own money, so can I kindly rescind my “membership” to CPF henceforth?
Let’s put it this way: if I were to lose everything in the process, so be it, but I doubt very much that will happen. But even if I did, at least I know PRECISELY where I put my money and how I lost it. At least I don’t have to worry about transparency issues.
But if I did succeed in growing a nest egg that is a lot more attractive than the fund managers at CPF, then will how about making lim-peh CEO of the Board? Best thing is, you don’t even have to pay me a million dollars a year to do the job, because if I can’t make a million dollars out of my own effort, then I’m totally hopeless for the role.
How’s that’s for a challenge? Game on? I’ll put all my CPF monies where my mouth is — question is, will you do the same?
Roy Phang
*The writer blogs at http://alphamalesyndrome.wordpress.com/