Under the CPF Life scheme, it isn’t really all your money now

When the CPF Life was introduced, all the PAP was willing to tell you was that CPF Life payouts are payouts for life. But by now, you already know three things they never told you at that time:

(1) They calculated your payouts to give you payouts until you are 95. Many Singaporeans are angry with this because the life expectancy in Singapore is only until 80 to 85 years, which means that the CPF Singaporeans earn is therefore forfeited.

(2) By now, you also know that payouts start automatically only at age 70. Many Singaporeans are angry with this because the PAP made this the default payout starting age without publicly consulting you first, which means if you don’t know about it, the CPF Singaporeans earn is therefore forfeited.

(3) Singaporeans also found out recently that the interest earned on the CPF Life is not returned to you. Many Singaporeans are angry with this because the PAP never told you your interest will be taken away, which means the CPF Singaporeans earn is therefore forfeited.

Now, let me tell you something else the PAP hid from you: When the CPF was first introduced, the PAP never told you the truth about how it really works.

(i) Do you know why the PAP has found a way not to return the interest earned under CPF Life to you? When they told you about CPF Life, you thought CPF Life is just the way they the payout is called, right – the CPF Life payout? Actually, wrong.

(ii) The CPF Life is a completely new scheme by itself. It is called the CPF Life scheme. And it is a completely new scheme the PAP created in 2015 to channel your CPF into.

(iii) You would know that when you turn 55, your CPF from the Ordinary and Special accounts are channelled into the CPF Retirement Account (RA).

(iv) What they never told you publicly is that, when they created CPF Life, they then channelled your CPF from the Retirement Account into the CPF Life scheme. Do you remember the PAP ever telling you this when they introduced the CPF Life? I don’t remember too.

(v) By moving your CPF away from your own CPF account and moving it into the CPF Life scheme, the PAP was therefore able to say it no longer needs to pay you interest on your CPF. Why?

(vi) First, the CPF is actually a semi-insurance scheme they created. Your CPF savings account is actually your own money, your savings. So whatever you saved and earned in your CPF Retirement Account, you would get to keep.

(vii) But with CPF Life, your CPF Retirement Account is actually moved into this CPF Life scheme. By moving your money out from your own savings account, the PAP can then say that since your CPF is no longer under your own savings account, there is no longer any need to pay you interest on it, because the CPF Life scheme is no longer your own savings account, but a completely separate semi-insurance scheme.

(viii) The interest earned is then risk-pooled and shared. Now, risk-pooling is present in many pension schemes in Europe. But what is different about the CPF Life? First, Singaporeans already have very little CPF savings and second, only the interest is risk-pooled, which means that the payouts are still very low. The idea of risk-pooling is to ensure that what you get back in terms of payouts should be higher and more equal. But this does not really happen much under the CPF Life scheme.

(ix) So, what is the problem? The problem is this: did the PAP ever consult you or ask you for permission to move your CPF from your savings account into an insurance scheme created by them?

(x) Also, did they ask you for permission when they made the default payout age 70 years old, when they calculated your payouts until 95 years old, and when they said they would not returned you your interest earned?

The answer is No, No, No, and No.

Now, what is the benefit to you?

Now, (a) you only get your payouts starting at 70 if you didn’t know you have to apply for it to start earlier, (b) your payouts are extended until age 95, which means you get lesser payouts stretched out over a longer time, and (c) you don’t get your interest back.

But, how does the PAP government benefit?

(A) Now that they don’t have to return you your payout earlier, they can keep the money for investment in GIC and Temasek Holdings for a longer time.

(B) Now that they can extend your payouts and give you lesser payouts over a longer time, they can keep the money for investment in GIC and Temasek Holdings for a long time.

(C) Now that they don’t have to return interest back to you, they can keep the money for investment in GIC and Temasek Holdings.

And you thought the CPF Life benefitted you. How wrong you were.

This is why you can never trust the PAP. This is why you have to remember that no matter what the PAP create, they will always find a way to earn from you. To profit from you. To take your money away to earn for themselves.

The CPF Life scheme was introduced in 2015. It took us 4 years to learn about the real truth about the CPF Life scheme. Why didn’t the PAP bother to tell you the truth about how the CPF Life scheme actually works when it was first introduced?

Why did they have to hide the information from you?

This CPF Life scheme was introduced a year after the massive CPF protests in 2014. The PAP took your anger as a joke. Even with this “solution” they created, they still found a way to earn from you.

No wonder the PAP never told you how the CPF Life payouts are calculated when it was first introduced.

Would they have dared tell you that you won’t get your interest back?

No one knows other than the PAP how the CPF Life payouts are calculated. It is as if they took your money, and decided to do whatever they want with it.

Now, why do they continue to find ways to take your CPF to let GIC and Temasek Holdings earn and profit from you?

In 2014, it took us decades to find out our CPF is actually invested in the GIC and Temasek Holdings.

Now, it has taken us another 4 years to find out our CPF is actually channelled into the CPF Life scheme, with the interest taken away us.

The CPF was actually our savings account. And they changed the law to make us remove all our money from our savings account into their insurance scheme.

And you know what? The CPF was your money. But under CPF Life scheme, the CPF isn’t really all your money now.

The PAP took it to earn. But they never told you. Because you never protested. And because you kept electing them.

The PAP created the anti-fake news law in May this year. But when they told you half-truths about the CPF Life scheme in 2015, you won’t even be able to use this law against them. Because they have exempted themselves from it.

Good luck, Singaporeans.


Roy Ngerng



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26 Responses to “Under the CPF Life scheme, it isn’t really all your money now”

  • patriot of TUMASIK:

    Liars-Cheats and Murderers …all LEEgally INC into your Life of which you PAY & PAY till you no longer exist and that is celebrating time for the Evil LEEgacy and its Cronies…More Money… & What is Wrong with Collecting MORE MONEY!!!

    GD Star Rating
  • Singaporean Kong Come:

    They dare not use the correct n clear words. After sellin your HDB Flat, money go back to your OA n SA. then the vaccum RA “Suck” your money out, lock without interest. This is Y the confine wheelchair b*t*h Chia YY. said CPF is not your mnoey.

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  • Bottomless pool:

    All the interest will go into a bottomless pool. The government is so caring that it must make sure the pool can pay for anyone living till 200 years old.

    When (and if) you reach 95, don’t expect to get much from this bottomless pool. Just like the reserve, the pool will be kept for the future, just not your future.

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  • generate REAL annual report:

    //Many Singaporeans are angry with this because the life expectancy in Singapore is only until 80 to 85 years,//

    life expectancy (expectancy only hor ?) to 80 to 85 years.

    85 years still high lar and it is coming from the national wayang narrative or propaganda machine lar ? just ask the IIIICCCCAAAA to generate REAL annual report (REAL statistics lar not some wayang survey) of every age interval from year age 1 to 100 who pass on in the specific year reported lar.

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  • Harder Truths:

    Citizens on this tiny island are of third-world mentality and prefer a communist government and prefer to work as slaves and bow deeply to FT.

    Everyone knows about CPF, HDB, ERP, Medisave etc. No matter how much you tell them Roy, nothing will change. This is how things are.

    Accept this and prepare for the day this straw hut catches fire. It will not be too long now.

    GD Star Rating
  • We know:

    If they are back after the next GE, Singaporeans who are 55 and below may never get their CPF money in their lifetime. There will be many new schemes to retain your CPF money.

    GD Star Rating
  • SGs still sleeping, real idiot:

    Thank you, Roy, for sharing the good news to 70%. I really feel good that pro pap are still fucking idiots. After screwing from those mother farkers, we still thank them and vote them elected. Funny how 70% Singaporeans are! Admired the Hong Konger for their guts.

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  • Asd:

    I think very good leh let these people help themself to m$ and take your away your $

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  • Cheat and Lies:

    How do you teach your children that “Leaders” are “Cheat and Lies [fake]” EXEMPTED?

    it’s so morally shameful that I don’t know how to describe the principles or rules of right conduct or the distinction between right and wrong; it’s unethical to say the least.

    My whole family has got to hide our faces and pretend we are not from Singaland until one day “Change” arrive,

    GD Star Rating
  • NotMyProblem:

    @Roy; you can explain till the cows come home, or write a thesis on this, those in the MG will not understand nor care about it! They are so happy with $200 dollars in the CPF, but they don’t know that it cannot be used.

    They think they can have cheap medical care but did not know that they can get cheaper in JB. I am a PG, I got my medication from JB, cheaper than in SG after subsidy.

    Just hope that these MG know that CPF is for the PAP not for members.

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  • CPF Suckers:

    The Opposition, among other things, must make this an election issue and ensure that they are dealt with a big blow in the coming election.

    GD Star Rating
  • mad as hell:

    we’ve been f&[email protected]%d over and over again..
    just only finding out about the ‘lost interests’!
    everyone knows this G is a lying and cheating one.
    no better than those of 3rd world places…only here they minus from our bank accounts the leegal way-!
    70% gave them the mandate to do what they like..
    im mad as hell..ive been voting for alternative parties but every GE has been a huge let down.

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  • PseudoPAP a crumbling Facade:

    A great man is different from an eminent one in that he is ready to be the servant of the society…
    So long as you do not achieve social liberty, whatever freedom is provided by the law is of no avail to you…
    Political tyranny is nothing compared to social tyranny, and the (moral) reformer who defies society is a more courageous man than a (opposition) politician who defies Government.

    - B.B. Ambedkar, Constitutional Jurist

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  • opposition dude:

    CPF is now no longer your money as far as I’m concerned. Whatever amount is in your various accounts is just for you to look but never, ever, get 100% of it.

    Which is why it’s better to invest your savings elsewhere. Even a bank’s low interest rate of 1.3% is better than CPF, at least the bank does not say you cannot take out all your money plus the interest earned. You try and take out 100% of your OA you see can or not!

    And the silly older generation with their dead dinosaur thinking still wants to tell me CPF is good! That it will be useful when you retire! HA HA HA!

    By the time I retire if PAP are still running the show I probably won’t even be able to take out 5% of my CPF!

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  • WakeupSG:

    Your CPF money is being sucked away by PAP govt into CPF Life scheme with the nice thought of payout for life. What is the use of having MONEY at age 70 to start enjoy life with disability more or less!

    MY OPTION: I get to enjoy my CPF payout at age 65 & HAVE A LIFE NOW!


    GD Star Rating
  • Bobo:

    If the Foreign SG citizens do not vote wisely, all their future will disappear like bubbles. All are welcomed to join us.

    GD Star Rating
  • oxygen:

    WHERE ARE ALL THE PAPpy IBs? They gone dumb of DIAM DIAM DIAM avoiding PARTICIPATION in this thread serious discourse.


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  • Keff:

    One reason that the govt doesn’t explain things
    is becos they are unable to!! All those scholars
    are unable to break things down into simple language.
    It is not clear whether they themselves understand too.

    And of course there is this “little” problem of
    revealing the Truth, the Whole truth, because….
    heck, no one’s going to be happy if they do,
    as what they are doing does not benefit us.

    Very pathetic that the govt is so scared to explain
    so much of what it does, and that much of what it
    does is highly questionable and does not benefit us.

    GD Star Rating
  • like everything else in SG:

    daylight robbery! daylight robbery! like everything else.
    we yell “HELP” oso no use.
    no one can come to our aid..PAPs control every damn thing in this red dot including the citizens.

    GD Star Rating
  • UniQ:

    This truths should to place online publicly to let everyone knows how people’s hard earned $$ are being taken away without permission and what should be rightfully people’s are also removed without knowledge.

    Please share !!

    I know I will among my staff and frenz.

    GD Star Rating
  • Sunken prens:

    Sporens will not be able to wake up.
    Hopeless case. More hopeless than hk.

    GD Star Rating
  • stupid tan kin lian:

    Thank you, Mr Roy Ngerng.

    We are glad there are very few tan kin lians and many more Mr Roy Ngerngs in 70% sheep island.

    Very glad indeed.

    GD Star Rating
  • the vampires are at it again:

    theyre planning on scrounging
    more from us now..
    read todays news…plan to increase employer & employee cpf contributions, by a big percentage somemore!
    this gov is truly bankrupt in more ways than one!
    i was just asking myself, after reading roy’s article, how else they gonna grab from us.
    and now this!
    after this im sure theyll be touching on cpf withdrawal age etc..
    no end…seems like its their favourite passtime..

    GD Star Rating
  • Singapore Kong Come:

    S’porens will not be able to wake up.Singaporean R Asia sickman. If U take public transport, U can see how many confine to wheel chair. Too old to pick cardbooard,wash toilet, clean Hawker center table.selling Tissue in public n heartland food center. They don’t bother to play their votes again the White regime, they love to play their votes again opposition.I better lari kuat kuat.

    GD Star Rating

    What you cannot hold in your hands is not yours. Unless you have satisfied the minimum sum at age 55, you cannot use it for rainy days (because it not yours).

    GD Star Rating

    like everything else in SG:
    daylight robbery! daylight robbery! like everything else.
    we yell “HELP” oso no use.
    no one can come to our aid..PAPs control every damn thing in this red dot including the citizens.

    Put it in another word, “Legalized SCAM”.

    GD Star Rating

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