Tag Archives: Ownership

In both cases, the government entities shifted the blame on something else, MOE on the fact that it was a longstanding practice to collect fees if original PSLE result slips are given. For ICA, they indicated that the $10 fee is payable as this would invoke a stronger sense of pride and ownership in a Singaporean identity. And both made it clear that the government had subsidized most of the other costs, so what we pay is just a minimal sum. They dare say this is not about the money.

“CPF is not your money, or is it your money?” is an important question which most CPF members are afraid to ask. Because the truth hurts and so it’s better to just ignore the elephant in the room. But Chia is actually right about her uncertainty of CPF ownership although her arguments were silly at best. And she’s a lawyer. Truth be said, our CPF does not belong to members because it has already been “ring fenced” through legislation for GIC to ‘invest’ in foreign assets. If PAP could forfeit our CPF, it would. And members should not be surprised if CPF interest rate is reduced in the near future.