CPF Board (CPFB) has been engaged in propaganda through advertisements, online and print. The sole objective is of course to trap more money in GIC via CPFB.
The government is now so desperate that it has started conducting roadshows, spending hundreds of thousands of tax dollars to achieve its aim.
Isn’t it strange that CPFB has to conduct roadshows to teach members how to put aside more money for retirement after decades of shortfall?
Which country has to perpetually convince working adults to put in ever increasing amounts of money for retirement?
This simple issue has a simple solution:
1. Reduce the percentage allocated to housing in order for retirement funds to earn at least 4% in the Special Account.
2. The government stop stealing, albeit legally, CPF investment returns.
3. Increase CPF interest rates. (pegged to a formula designed by the government to pay low rates of return.)
But the PAP has been avoiding and compounding the issue by tweaking CPF legislations, leading us nowhere. 😦
What is the point of telling members to put in more funds when the majority have already fallen short of the minimum sum?
Are these not attempts to trap more funds in CPFB without addressing the chronic issue of retirement funding shortfall?
CPF members should be very wary of all the ongoing propaganda and don’t be fooled into putting more funds into the CPF black hole.
PAP has in place legislations which keep our CPF trapped until we are dead. Bear in mind that all the promised payouts are subject to change at PAP’s whims. 😦
According to a post by Leong Sze Hian, CPF members who don’t opt out at 65 will only receive monthly payouts at 70. Since there was no prior announcement, this clearly shows how sneaky PAP is.
What if payout gets delayed to 75 or 80?
When PAP ignores the simple solution, doesn’t commonsense tell us that something is terribly amiss with the management of our CPF savings?
Think very carefully, discuss with friends and read up on social media to have an idea of what’s really happening to our CPF. Don’t fall into PAP’s trap. Again. 🙂