I'll try to keep this post short and let people reflect on the following photo from The Alternative View.
The commentator Mr Chun Yi is a PAP Fanboy, who's doing his level best to educate us on Govt CPF policies. I have 1 question for Mr Ng: Were you born stupid or did you have to work on it?
You can visit his FB page, and perhaps befriend him and give some basic education on worker's rights and protection. He's clearly suffering from some form of cerebral disorder, perhaps the location of his brain matter has descended to his nether regions.
Just to recap, CPF money is and always remains as the holder's monies. If you draw a $1,000 salary and get a deduction of $200 plus and employer contribution of $200 (40%), it does not mean that your employer is 'donating' that $200 to you. It's the law, in order words he's supposed to be paying you $1200 in total, but the sums deducted is for you to save for your retirement. Employers MUST make a contribution in lieu of whatever taxation waivers and the legal condition to operate a business.
The Govt holds on to this monies and invests it and as such MUST pay interest, because if we didn't entrust it with them, we could have taken it and invested or saved it elsewhere. The issue of managing or using it for housing, education or whatever is secondary. We are not obliged to use it, unfortunately because of runaway costs, we have no alternative but to.
I worry for Singaporeans if the majority share Mr Ng's mindset or are convincing themselves in the same way he has convinced himself. It's said a fool and his money are soon parted, in Mr Ng's case, a fool and his folly are seldom parted.
Anyhow Hamtam
*The author blogs at http://anyhowhantam.blogspot.sg