CPF

SDP: Current PAP Has Turned CPF Into A Nightmare For Sinkies

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.

Filed Under: 

Elitist Government Uses Assumption That Singaporeans Unable To Take Care Of Own Savings

Elitist Government Uses Assumption That Singaporeans Unable To Take Care Of Own Savings

How do the government come to this conclusion? Is it because they themselves cannot be trusted with their millions in salary? Or is this rule unjustly penalising the average Singaporeans, while the very rich and elite do not need the CPF, because, after all, they are rich, and they have money to burn in their old age.

Filed Under: 

Chan Chun Sing: Govt Realises Businesses Will Face CPF Increase Pressure

Chan Chun Sing: Govt Realises Businesses Will Face CPF Increase Pressure

Trade and Industry Minister and one of the future leaders of the 4G government, Chan Chun Sing, says that the government realises the cost pressure the government themselves are putting on businesses, with the planned increases in the ages for re-employment and retirement, as well as Central Provident Fund (CPF) contribution rates for older workers.

Filed Under: 

CPF SYSTEM ONLY BENEFITS THE RICH?

“If a rich man contributes S$100 to his Central Provident Fund (CPF) account, he could get up to S$22 in income tax relief. In comparison, a person drawing S$3,000 a month would only get S$2 in relief."

Pointing out these extremes in potential savings by different income segments, Singapore University of Social Science economist Walter Theseira said in a forum on Oct 20 that the Republic’s CPF contribution tax relief policy should be reformed to troubleshoot the “regressive nature of CPF contributions”, where those who earn less contribute a greater fraction of their income to society than high earners.

Filed Under: 

Pages

Advertisement
Subscribe to RSS - CPF