Govt making out life worst than hell, so now u wanna increase cpf payout without increasing interest rate while making a 4 concrete walled called hdb houses damn expensive!!!
When I first bought my 5-room point block HDB flat in 1979, the price was S$30,000 and I paid by my CPF account for 10 years. I sold this flat at S$267,000, paid 20% levy of S$53,400 to HDB (as my second HDB flat was also a new one), leaving me S$213,800 as remaining sales proceeds.
My new Executive Apartment HDB flat cost S$402,000. Using my sales proceeds to offset, I still owed HDB a payable balance of S$188,400, which I paid for 10 years through my CPF account. When I retired at age 62 years, I had hardly any CPF savings for my old age living/survival.
CPF is set up by the government as pension fund for old age when we can no longer work and have to retire. Because of the exorbitant and inflated prices of HDB flats by the government, all or most of our CPF savings monies are locked up and used for the payments of our HDB flats. How much are left in our CPF savings for our so-called pension funds are not much as compared to the huge for life pension funds/free medical services for the government ministers and top civil servants.
I feel that our government ministers and the elites are enjoying their lives at the expense of our poor citizens’ CPF savings for our old age.
Only we can liberate ourselves from our present sufferings, If not, we continue to suffer indefinitely. Come GE 2015/2016, please vote wisely.
monkey think better than MIW