Tag Archives: CPF Board

The CPF is supposed to be the safest place for everyone to store their money. So safe that even we can’t take our own money out. Yet this netter’s CPF account was emptied. Posting on reddit, this netter said that all their voluntary CPF contributions were suddenly deducted from their …

Like most insurance schemes, the collected ElderShield premiums will not be sitting idly. The premiums will be invested until the need arise for it to be used as monthly payouts should a claims be made. Leong Sze Hian therefore asked if the $3.3 billion figure included the accumulated interest on the investment returns from the excess premiums to claims? As these figures were not made transparent to the public, Leong Sze Hian guessed if the accumulated surpluses will be about $4 billion?

The CPF member, who was at the centre of this storm, shall remain named as Ms Sua here, although the CPF Board did not feel it was wrong to give out her full name. In fact, not only was Ms Sua shamed by having her name exposed, the CPF deemed it right to publish her entire name, medical details, and financial well-being was which was happily shared with the nation on their FB page after she complained about the CPF Board.

My question then is: Why did the CPF not make an effort to contact her after 1998 when she didn’t respond to it on getting monthly payment? Or in 2012 when it didn’t hear from her after she queried? One wonders how many old people – Ms Yap is single – are in the same state. Maybe more effort should have been taken? Or would this be too much effort?