In light of the 72 year old man who was forced to become a Grab Driver in his retirement years, and then found out he was supposed to continue to contribute to his MediSave account or his Grab licence would be suspended, the SDP has said that this was the very example of everything that is wrong with the CPF system.
The 72 year old man, Clifford Theseira, recently had his case publicized online, where it transpired that he had withdrawn a total of about S$140,000 over 17 years from his CPF savings since turning 55. he and his wife also has fully paid up their HDB five room flat. However, he still had to supplement his retirement savings, thus he turned to driving a Grab taxi, even at the twilight age. His Medisave account currently has more than $50,000 in it, but yet he is still forced to continue to contribute.
SDP said in a strongly worded statement that “The current system manipulated by the present generation of PAP leaders have turned the scheme into a nightmare for Singaporeans, and Clifford Theseira’s case highlights the problems”. SDP also questioned the PAP's continued claims that citizens will squander their CPF savings and would turn to the government for help, stating that there are no data provided to back up these claims. SDP indicated that many Singaporeans are being penalised for the actions of a few.
And just to drive the nail in the coffin, SDP said that the CPF itself is flawed, as Singaporeans are forced to dip into their CPF to pay off ridiculously high prices for their HDB flats, and when they finally retires, their CPF money will not be enough to help sustain their lifestyle. Again, PAP has failed Singaporeans on so many levels