Weighing in on Clifford Theseira’s grouses against the CPF system (Part 1)

Last month, netizen Clifford Theseira made a Facebook post which went viral.

In the post, Mr. Theseira claims that the monthly $575 that he receives from his CPF accounts is not enough for him and his wife to live on. He thus started working as a GRAB driver but this ended up in him having to make a contribution to his Medisave of $595 instead as he is now considered “self employed”

Sharing a letter from CPF Board (CPFB), Mr. Theseira said that if he did not pay up, his “[PVDL] licence would be revoked”. He felt that such actions by the CPFB were “gangsterism” as the $60,000 in his CPF accounts were ultimately his money.

The CPFB has since replied via a Facebook post on Sunday (27 Oct), saying that Mr. Theseira had withdrawn “a total of about $140,000 from his CPF since turning 55″ and co-owns a “5-room HDB flat which is fully paid up”.

The CPFB added that “the monthly payout could be more than $1000 a month instead”, had Mr. Theseira not withdrawn the $140,000 earlier.

The CPFB’s remarks that “his monthly payout could be more than $1,000 per month instead” is redundant, misleading, a red herring. CPF monies are for retirement or when you turn 55 and Mr Theseira has the right to withdraw $686 per month to feed himself.

As for his HDB flat, this is something which I am against – that older Singaporeans are expected to sell their homes to feed themselves in old age.This is wrong – a home means something, especially to an older person who may have spent all his or her life in not only the flat, but also in the neighbourhood, and would have made friends there, and so on. Familiarity is valuable to older people.

So, to tell them to sell their flats, their homes, when they are old – at a time when they need to have peace and stability to live their last years – is quite heartless.

So, we come back to the question above all this: Why does someone who has reached 72 still needs to drive Grab to make ends meet? And Mr Theseira is not the only one.

Many Singaporean elderly need to work to make ends meet – we can see them in the foodcourts and coffeeshops, in the public toilets and driving taxis, or picking cardboards. And these are not your young people doing these things for exercise. These are people in their 60s, 70s, and even 80s – people, Singaporeans, who have worked 40, 50 or even 60 years.Why isn’t the country they help build caring for them?

So, let’s not be bureaucratic and play with cold numbers, and miss the main question, the main issue here: When exactly can elderly Singaporeans rest and enjoy their old age, after having worked a lifetime to build this country which the government keeps trumpeting about?

 

Andrew Loh

 

 

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24 Responses to “Weighing in on Clifford Theseira’s grouses against the CPF system (Part 1)”

  • CPF bad boy:

    So CPF basically cannot answer why he needs to pay $595 into Medisave.

    So it throws irrelevant stuffs at people.
    If he didn’t withdraw some money at 55, he could have more now. Isn’t this obvious? If he didn’t buy HDB, he could have a lot more now. If he had tightened his belt for 70 years, he could be very rich now. And so on.

    Please, CPF, stop trying to blame his past. You bad boy. You don’t know enough about his past to blame him for his past. Please apologise.

    Solve his current question.

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  • Singapore Fooled Again n Again:

    Government want to ensure those in the middle income and below and the poor are left with nothing when these citizens kick the buckle. They make sure all your saving and even the whatever money tied to the lessee HDB flat is sucked back by the expensive hospital bills and HDB through various schemes like HDB buy-back part of the lease or forced to sell the bigger 4 or 5 rms flats and move to a 3 or 2 room HDB flat or worse into a studio with 30 years lease that is the final destination of your “Asset Enhancement” fate, that is going to ZERO whichever way you calculate when lease drop towards zero year.

    While at the same time, those living in private properties, be it freehold, 999 years or even 99 years leasehold, can see their assets double or triple every 10 to 20 years leaving them with multiple millions $, if not tens to hundreds of million $

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  • NotMyProblem:

    Remember this people, we Singaporeans are supposed to work until drop dead for the PAP highest paid Ministers and civil servants.

    Remember this, when you go to the poll this GE. It is your fault if PAP ministers cannot get their Millions $.

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  • Harder Truths:

    Very good Andrew. Let the 70% squirm.

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  • RDB:

    Dictators operate like that lah!

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  • Sinkie:

    One reason is the very low interest rates of below-2.5% paid on our Ordinary account balances since 2004, compared to Malaysian EPF’s consistently more-than-6% that Malaysians enjoy, providing cheap funding for . . .

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  • To which Crony it may concern:

    “Capitalism is the astounding belief that the most Wickedest of men will do the most wickedest of things for the greatest good of everyone… Words ought to be a little wild, for they are the assault of thoughts on the Unthinking.”

    - John Maynard Keynes (The Father of Macroeconomics)

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  • CPFB - have a heart!:

    It really sickens me to think that CPFB has the audacity to suggests thatMr Theseira should not have withdrawn with own money at 55 so he can receive a higher payout later in life. Is it possible that part of $140k withdrawn was made to pay off the balance of his HDB mortgage? In any case, its his money so why can’t he withdraw some money after having worked for a lifetime? So he has paid off his HDB .. so what? Can he eat his HDB flat for breakfast, lunch or dinner? His HDB flat is not a ginger breadhouse! And to ask someone to sell their apartment in their twilight years is simply preposperous!

    I am 73 and just as pissed off when I was told that I can only take out $200 a year from my Medisave to pay for my medical consultation. One visit to my specialist doctor in January cost me $150 so after the 2nd visit two weeks later, I am out of pocket. For the remaining 11 months of the year, I have to pay out of pocket when I have $$$$ in my medisave account. What is happening?

    No one wants to get sick and no one enjoys staying in hospitals so that they can make use of their medisave account. Can we expect some understanding and sympathy from this government? After all its our money and we should be able to use it when we get sick.

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  • Kenny:

    Yah!if old keep on working.

    Youngster no job one.

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  • Ggh:

    So Clifford is poor?

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  • KiaSu does KiaSu:

    China throws money at retirees.
    China do not lock up their citizens retirement funds.

    Such a large country can do it but Singapore leh?

    The problem is the majority do not want to help because they are unaffected.

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  • Demand a state pension:

    While CPF is a very important issue, people should not forget that they are entitled to a state pension.

    Look around the world, good countries pay their old folks a reasonable state pension of about $1000 a month, absolutely free of requirements.

    Don’t believe those MIW kbkp no money. The state reserve’s investment income (not the reserve itself) can pay every Singaporean $10,000 a year.

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  • Where Got Enough:

    I am 69 years old man suffering from Diebetes and High Blood Pressure. I can use S$200 for consultation and Medication. One visit to the Doctor will cost me about 100 plus including blood test.

    When I have serious Ezema on my skin I cannot use Medisave as skin problems are not considered as chronic disease. I have to fork out more than S$100 Cash for treatment and medication on each visit.

    Same story when I have knee problem and cannot walk without pain. An MRI Scan will cost me more than S$500 dollars Cash.U cancel the Scan.

    When I have irregular Heart Beat , the Doctor at the Hospital made appointments for me to go through three tests which I have to pay a total S$800 Cash. I avoided the tests.

    Where to get money to pay for all these test as they are not considered chronic diseases ?

    Same story for my eye problems. All require Cash payment.

    I have about thirty thousand in my Medisave but I guess the government is ensuring that I have enough money to pay for my coffin and funeral expenses when I expire.

    Sure I will vote for the PAP government in the coming GE.

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  • lying pap S$m thieving liars:

    Vote pap, get the same problems over and over again.

    Vote OPPO. give them a chance to do right for citizens.

    Why be sheep? In the end, children suffer more.

    Do something for them before up the lorry, by voting OPPO.

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  • Evil, Greedy And Corrupt:

    Vote for PAP, you will have more of the same.

    Minimum spending on society, maximum milking for investment gambling, pay themselves obscenely.
    When gambling money is lost, just go to the sinkie ATM and start milking again.
    Failed policies, you, sinkies take the hit.

    Investment gambling win, they bragged and paid themselves handsomely,
    gambling lost, it’s the trade war and still pay themselves so “little” that they feel ashamed and keep the salaries a secret.

    This is what you had voted for.
    Pigs take all, whenever and whatever, but you die your own business.

    Sinkies should ask themselves what the government is for and why should they be putting up with such nonsense.

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  • NotMyProblem:

    KiaSu does KiaSu:
    China throws money at retirees.
    China do not lock up their citizens retirement funds.

    Such a large country can do it but Singapore leh?

    Example; PRC over the age of 60 years, pay half fare (RMB 0.50) for public transport. Free when over 70-year old.

    Another example; Chinese govt gives subsidy for elderly for heating during winter period. The elderly make use of the subsidy to fly to warmer places and stay with relatives for the winter, still able to have some saving.

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  • expectation as in expectancy:

    //The CPFB’s remarks that “his monthly payout could be more than $1,000 per month instead” is redundant, misleading, a red herring. CPF monies are for retirement or when you turn 55 and Mr Theseira has the right to withdraw $686 per month to feed himself.//

    exactly lar ? like that, if retention money is $300k, then monthly payout could be lagi more hor ? this logic, who does not know ? people want the option of full withdrawal lar ?

    and besides, why would one wants (be forced) to buy some kind of annuity if one does not feel that it is worthwhile based on their white idiotic assumption of so high a life expectancy (expectation as in expectancy is not actual lar ?) ?

    annuity service providers have every interest like the white idiots to put a higher life expectancy to be super conservative on the safe side as they will not want to operate on a ‘loss’ in the whole scheme which includes servicing all the “highly paid” professionals (or wayang professionals ?) running the scheme lar ?

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  • DavidLKSee:

    PAP-inspired Acronyms in Singapore:

    SG = Screwed-up Gabra-men [not Singapore Government]
    MSG = Money-Sucking Govt [not Mono-Sodium Glutamate]
    TCM = Talk-Cock Minister [not Traditional Chinese Medicine]
    PC = Political Clown [not Personal Computer]

    ERP = Everyday Rob People
    COE = “See Hor Yee” [in Hokkien, PAY And PAY until DIE STANDING]
    GST = “Gasak Sampai Teruk” [in Malay, PAY And PAY until DROP DEAD]

    PAP = “Pien Ah Pek” [in Hokkien, Bullshit Our Old Folks they can live into their 90s --- ie as old as that long-dead and deeply-buried "Almighty Singapore Emperor" (you-know-who) --- hence, no need to withdraw their hard-earned CPF savings so early --- so that the "Trauma-sick Princess" (you-know-who) can use more of the people's hard-earned monies to "play tikam-tikam", hor]

    PAP = PAY And PAY
    PUB = PAY Until BANKRUPT
    HDB = High-Debt Bankrupt [BLOODY HELL, HDB new/resale flats so BLOODY COSTLY --- no thanks to that two BLOODY Million-dollar Ministers Mah Bow Tan & Khaw Boon Wan*]

    [ *Malaysian-born Singapore New Citizen who didn't do a single day of full-time National Service !!! Can still be Cabinet Minister ??? WTF !!! ]

    WTF = What The FISH (printable polite version of the other unprintable impolite four-letter F-word that often crop up whenever the clueless/hopeless/useless Obscenely-Overpaid PAP Million-dollar Govt is mentioned)

    PAP = Papa Anak Parti [in Malay, Father & Son Party]
    Papa’s favourite karaoke song: “MY WAY” by Frank Sinatra (ie NO Other Way Allowed, or else you will be sued until your pants [and briefs] drop)
    Anak’s favourite karaoke song: “MONEY, MONEY, MONEY” by ABBA
    Anak’s favourite hawker food: “Mee Siam Mai HUM” (Lee HUM Loong, Mee Siam where got HUM ??? WTF !!!)
    Anak’s favourite Election Slogan: “BUY Votes, FIX Opposition”

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  • DLLM:

    The whole problem is PAP. This party should go, or they need to be **** long ago. It’s overdue.

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  • so troubling:

    read few days ago CPF is holding $200 mil unclaimed monies of cpf account holders.
    heaven only knows how many were in the same predicament as the many old folk who were refused their cpf money when they really needed or wanted it.
    poor souls.
    hope every effort is made to trace them or at least their next of kin.

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  • Birds Of Same Feather:

    KiaSu does KiaSu:
    China throws money at retirees.
    China do not lock up their citizens retirement funds.

    Such a large country can do it but Singapore leh?

    The problem is the majority do not want to help because they are unaffected.

    Stop dreaming, CCP is now fcuked globally, after learning from greedy pigs.
    It is not a good example to compare with China because the CCP learned all the tricks from the Pigs. You should compare with Taiwan instead.
    From the CCP slogans, one could see the changes once CCP started copying from old fcuk.【老共养老口号】
    1985年,“计划生育好,政府来养老”;
    1995年,“计划生育好,政府帮养老”;
    2005年,“养老不能全靠政府”;
    2012年,“推迟退休好,自己来养老”。
    2013年“以房养老”
    所谓老年人住房反向抵押养老保险,就是以房养老,老人把已经付清贷款的房子,抵押给保险公司等金融机构,金融机构通过数据统计和精算,综合考虑房主的年龄、预期寿命、房产若干年后的价值等因素,定期发给房主一定数额的养老金。房主去世后,房产出售用于归还贷款,其升值部分归金融机构所有。
    辛辛苦苦,累死累活,省吃俭用到了晚年才买的房子,有谁会同意这“以房养老”?
    看到有个网友说了这么一句口号:“退休就死好,不用来养老。”

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  • Birds Of Same Feather:

    KiaSu does KiaSu:
    China throws money at retirees.
    China do not lock up their citizens retirement funds.

    Such a large country can do it but Singapore leh?

    The problem is the majority do not want to help because they are unaffected.

    ..

    Stop dreaming, CCP is now fcuked globally, after learning from greedy pigs.
    It is not a good example to compare with China because the CCP learned all the tricks from the Pigs. You should compare with Taiwan instead.
    From the CCP slogans, one could see the changes once CCP started copying from old fcuk.【老共养老口号】
    1985年,“计划生育好,政府来养老”;
    1995年,“计划生育好,政府帮养老”;
    2005年,“养老不能全靠政府”;
    2012年,“推迟退休好,自己来养老”。
    2013年“以房养老”
    所谓老年人住房反向抵押养老保险,就是以房养老,老人把已经付清贷款的房子,抵押给保险公司等金融机构,金融机构通过数据统计和精算,综合考虑房主的年龄、预期寿命、房产若干年后的价值等因素,定期发给房主一定数额的养老金。房主去世后,房产出售用于归还贷款,其升值部分归金融机构所有。
    辛辛苦苦,累死累活,省吃俭用到了晚年才买的房子,有谁会同意这“以房养老”?
    看到有个网友说了这么一句口号:“退休就死好,不用来养老。”

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  • CPF Their Money:

    Give them back their CPF money.Let them be responsible for it.
    They are old enough to be your father or even grandfather.
    No need to tell them what to do…with their own money.

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  • George:

    Tan CJ is in Marine Parade GRC because of Tan Choo Leng (aka Mrs Goh Chok Tong), VOTE HIM OUT !!!

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