PV member: Why is CPF board spending public funds to advertise its retirement scheme?

Peoples’ Voice member Kok Meng Cheang shared an experience he had whilst he was at the CPF Board building in Bishan on Friday (27 Dec).

After noticing a large advertisement promoting a retirement for senior citizens, Cheang stopped to take a photo of the advertisement. He questioned: “why [is there] the need for CPF Board to spend public funds to advertise its retirement scheme if it is such a good product?”

Indeed, Cheang’s thoughts were corroborated by a remark from a stranger as he was taking the photo. A gentleman, whom Cheang described as being in his 40s, said: “Uncle, if you believe in this CPF Advertisement, you will be finished.”

The younger gentlemen apparently proceeded to give Cheang a quick brief on why the CPF scheme should not be depended upon by senior citizens. Whilst Cheang did not give any details, he commented that the younger gentleman “meant well”.

After sharing the incident on his Facebook page, Netizens have speculated that the younger gentleman could have been frustrated at the current HDB-CPF nexus.

1) As CPF OA funds can be used to purchase housing, CPF members tend to over-consume housing (i.e. purchase something more expensive than what they could ordinarily afford), thereby driving up property prices and leaving little for retirement.

2) After the value starts to decline as the lease approaches the tail-end, members are left with a property of little value which they will find hard to sell, whilst having little retirement funds available – mainly from the monies in their CPF SA.

Regardless, netizens have expressed that they share the same views as Cheang.

One netizen Tan said: “If the schemes is still so good why people are still collecting card boards and working in coffee shop clearing up table…pls enlighten me…”

Another netizen Low added “Can some kind souls put up the charts from the year cpf inception of Cpf interests to show the different rates in OA MS SA so that citizens can see why is the Cpf interest rates not adjusted to compare the 80s 90s 2000 till 2019. Are we short change….. in our retirement adequacy, yet miws keep adjusting the minimum sums…… without adjusting Cpf interest rates accordingly…..”

What do you think of the current CPF system?


17 Responses to “PV member: Why is CPF board spending public funds to advertise its retirement scheme?”

  • trust pap, die fastest:

    pap states times always article on RA when some sheep ups the amount in RA to maximum.

    but always not even in small prints does same article mention when CPF account RA holder dies at 64.9 years old, the interests earned in RA account from age 55 to age 64.9 vest with RA pool and not to CPF RA account holder.

    so anyone who puts money in RA is gambling on the interests earned.

    imagine same sum in RA is invested in commercial bank. even at 0.5% pa, the interests earned from age 55 to age 64.9 are real money which goes to estate should bank account holder dies at age 64.9.

    but the RA interests in cpf RA account all, ALL, go to the RA pool.

    70% sheep are even ore sheep if they still believe in more money in RA when the action should be to take out even the half now allowed by pledging HDB rental unit which is worth zero at end of lease anyway.

    remember. putting more than half required is a gamble. and no human, including pap master lky can say won’t die at age 64.9. from 55 to 64.9 is almost 10 full years. health wise, from super healthy can be drop dead unhealthy. so why waste interests earned on pap cpf RA pool when it can be retained in estate instead.

    stop believing pap aka stop being sheep.

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  • Michael:

    I think it is good and adequate. You just have to eat less rice and travel less .the most important part is most people living less than age 60 will just can look at their cpf money and say goodbye .cannot touch .sorry to those living a short life .cpf meant for those with life span of 120 or longer .

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  • Peanuts gold tap:

    Is CPF ah Kong’s Money?

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  • Pioneer:

    It is “Cough, Pui & Fxxx”.

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  • Seal the ballot box:

    Why? Because they have at least 70% and no one can stop them

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  • mike:

    Current CPF is:

    1. Overly Complicated financial planning trying to do wonders

    2. Like a 60 year old lady doing botox and face-lift

    3. A good source of funds for mega managers to splurge and play tikum tikum and yet earns big salary package

    4. When all things fails? Just increase minimum sum and retirement age lah… *smirk*

    So funny one…

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  • TruBlu:

    It is most IMMORAL to suck ordinary sgs’ CPF n claiming its caring for the retired when,in truth, the GOVT is scheming way$ to deplete our CPF SAVINGS via MEDICAL,for example, so that the govt does not need to find money to return us.

    This govt is not only greedy,it is uncaring n hypocritical.
    But 70 pct of sinkies are too daft to grasp the truth.

    We need a strong oppo alliance to chane things before all is gone.

    GD Star Rating
  • Harder Truths:

    Good question. The only answer I have is they have loads of money they need to spend as part of their yearly budget and this is just another hare-brained idea from the top management to spend that money – that no-one below them dares to say no to.

    Since the budget increases from year to year, so does your tax as well as goods and services. They do not waste their money – it is your after all. So that’s ok by them.

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  • A Nation Of Dumb Parrots:

    The scheme is befitting of the smart people.
    50 years of voting one party is the track record and intelligence,
    immune to any pain.

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  • Say The Right Things:

    “….One netizen Tan said: “If the schemes is still so good why people are still collecting card boards and working in coffee shop clearing up table…pls enlighten me…” ”

    Nothing wrong with the scheme, it’s because these people didn’t work hard enough to top up their CPFs but choose to spend their money in Batam instead… like the men f**k prostitutes, the women buy expensive bags…

    If they put in all their money, so that the GIC could invest for them, their cpf returns could likely be more…or less better.

    Which other caring government will take your money and invest for you and give you a fixed interest slightly higher than the low bank rate instead?

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  • anonymously:

    CPF scheme would have been an excellent scheme had it not been the case that 80% housing cost can be financed from one’s cpf. This is a gross mistake in policy. I think no more than 30% of one’s retirement funds can be used for anything other than retirement. Its common sense is it not?

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  • patriot of TUMASIK:

    Not their MONEY what!!! so Spend Lah!!!…help to “ENHANCE” their Helicoptor-View leh!!!

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  • "to communicate better":

    //Why is CPF board spending public funds to advertise its retirement scheme?//

    this is what the white idiots and gang may call “to communicate better” the wayang bs ? all these taking care of your retirement (positive sell) is another slow and continuous way to indoctrinate (until it is embedded / hardwired into their braincells for some) the daft sinkies till it becomes acceptable ???

    as humans are more of a visual being (in contrast with other sense perceptions), all these visual cues (print materials, big big celebrative banners showing the happy white idiots, civic advertisements, etc) will have to be created all year round to flood your senses ?

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  • Why Election Agents needed?:

    WHY ??
    Its because the NEW citizens in the 70% gave them the absolute power and so they CAN do that.

    Thanks to Democracy, a Flawed model.

    GD Star Rating
  • My view of Ah Gong's CPF?:

    It’s one hell of a Convoluted Pappy Fiasco arisen from a Conniving Psychological Fiduciary to subjugate Si Gui Kia Sheeple…. Long live the Dienasty.

    GD Star Rating
  • Significance:

    As the PRC Singapore millions supported scholars will say. it is all about oil water! The significance is that pap can bdo whatever, whenever n however they bloody well chooses because of LHY/LWL whistleblwn Compliant Bureaucracy, Indianee’s plp support of career success (?) negates Conflict of interest of having PM’s personal lawyer as the Attorney General n PAP ministerial spouse controlling as Auditor General. trump is like a stupid chicken compared to PAP!

    GD Star Rating
  • Lee Gan Yew:


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