Chuan Jin is going to make sure the people have enough for retirement by adjusting the Minimum Sums of the CPF account holders. The few variations that can be expected, contribute more if not enough. Contribute less if got enough. Use less if not enough. If no need to touch the savings when got too much money, can take out more? What is going to happen to those who have a lot of money and do not need their CPF savings, like the multi millionaires and billionaires? Can they withdraw all their CPF savings?
What is going to happen to those who have very little in their CPF savings? Please contribute more. Or please, your CPF not enough, cannot take out or take up lesser to last longer? If got only $10k, will make it last another 30 years! When one does not have enough, either must put in more or take out less right?
The problem here is that the Govt will not be contributing a single cent to make up for those who really need more savings in their CPF. This is not a govt pension scheme and the money is the people’s money. Not enough, top up, don’t expect the Govt to top up for you.
So, how? I think it is better for the Govt not to help. The more the Govt wants to help, the more painful and difficult it will be for those who got money not enough.
Please, please, please don’t help us. Thank you very much. God bless you for your kindness. God will bless you to win the next GE. So no need to do so much. The people can understand your kindness and will vote for you. Just leave the people alone to manage their own few dollars left in their savings. Just return their CPF money to them and the people will pray for you.
Chua Chin Leng AKA RedBean
*The writer blogs at http://mysingaporenews.blogspot.com/