The CPF is no longer our money. Here's how.
(1) Singaporeans part with the largest chunk of our wages to CPF in the world.
(2) The PAP pays the lowest real interest rates on the CPF in the world.
(3) The CPF thus becomes one of the most inadequate retirement funds in the world.
(4) Meanwhile, GIC and Temasek Holdings take the CPF to become the 8th and 9th richest sovereign with funds in the world.
(5) Singaporeans take back on of the lowest returns.
(6) The PAP also jacks up the price of HDB flats, so that we are forced to pay more from our CPF to the mortgage and wipe out our CPF.
(7) The PAP jacks up the prices of HDB flats so that we have to pay high accrued interests. (8) The PAP puts in a high CPF Minimum Sum so that we cannot withdraw our CPF.
I had to share this on my blog. It's written by one of my Facebook friends' Roy.
