Wednesday, August 13, 2014

Not Our Money

How Much Interest Must Singaporeans Earn On Our CPF To Be Able To Meet The CPF Minimum Sum?

With a summary judgment hearing set on 18 September, you have to give blogger Roy Ngerng credit for insisting to talk about the CPF. The above is the tile of his latest post which he argued again on the unfairness of the CPF system.

I will leave the argument on the fairness of the CPF to other people and give an advice to all Singaporeans; stop thinking of the CPF as your money!

The Singapore government may argue otherwise but for me, it is very simple. Till I can touch, move and withdraw my money from the CPF, it is not mine. Honestly, I never thought of it as mine to begin with.

I will probably never hit the amount of $155,000 (or the Medisave Minimum Sum of $43,500) unless I don’t buy a house or use the CPF for anything, but so what? You can’t lose something that was never yours right?

Maybe that’s why I’m not as hung up about the CPF Minimum Sum as most people. The government are just keeping me from something that was never mine (or yours) to begin with. 

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