include("cmp.php");

Implement planned increase in senior workers’ CPF contribution rate

I totally disagree with Heng Chee How’s call on the government to implement its planned increase in senior workers’ CPF contribution rate without delay. Let me explain.

The C19 pandemic has resulted in thousands upon thousands of companies in Singapore severly hit and even more workers were put on shorter work week and massive unemployment descended upon us.

The government’s thinking was by the scheduled CPF increase date, the pandemic might have subsided, situations improved and Singapore has turned the corner. I ask, after one year later, has C19 pandemic subsided and the situations in Singapore stabilised and safe? The answer is obvious and with growing trepidation.

Internationally, the situation in many countries are getting worse, new strains are mutating with a vengeance, we are importing new cases into Singapore everyday, community spreads are reappearing and new strains have reached our shores…

For many companies, their Job Support Scheme are coming to an end which means that the government’s help with their wage bills in order to help them keep their staff is ending and they will be bearing their full wage bill burden going forward.

Too many companies in the F&B sector, the retail sector, the aviation and related industries, the MICE industry and last but not least, the construction and related industries etc are fighting for their survival on a daily basis.

Heng Chee How shouldn’t be just a book-smart idiot full of youthful enthusiasm but totally divorced from business hardships, business harshness and business realities.

If companies in those industries that I have mentioned cannot survive and as a result, workers lost their jobs, any increase in workers CPF contributions will be totally meaningless and will go up in smoke as well.
The labour unions and the pap government shouldn’t be too shortsighted and greedy on this issue.

A further delay of another year will be much less impactful for workers’ CPF balance but it can make a world of difference to struggling businesses to recover, recuperate and rejuvenate and come back even stronger in everybody’s interest or they could die a premature death.

I support increasing senior workers’ CPF contributions over time given that people are living longer and the cost of living is ever increasing but the timing of its implementation can spell the survival or bye-bye to those thousands upon thousands of businesses and even more thousands upon thousands of our citizens and their livelihoods.

Don’t ever kill the hen that can give us golden eggs too early with our union leaders’ and government’s greed and short sightedness. Don’t.

You have been warned!

Think.

 

Simon Lim

 

 

yyy
SPONSORED ADVERTISEMENT
Loading...

26 Responses to “Implement planned increase in senior workers’ CPF contribution rate”

  • PAP CLOSE DOWN:

    In this terrible economic dire straits? CPF bor lui or pok kai liao?

    GD Star Rating
    loading...
  • Harder Truths:

    This is in-line with the regime policy of making locals jobless. No foreign employer is going to waste money on old locals when the millions of FT pouring in from their own countries will do very well.

    Either that or the locals will have to cut pay to meet the prior contribution rate. Sooner or later the local will be replaced, CPF or not.

    This is regime/FT win-win, while for locals it is lose-lose.

    GD Star Rating
    loading...
  • oxygen:

    TEXTBOOK GENIUS VARIETY always got textbook formula-driven solution to ALL PROBLEMS, sundry, BUT EITHER DOES NOT WORK of desired outcome or, worse still, failed in shattered dreams of fiction castle-building.

    The world out there is NOT A FORMULA or even a complex cobweb of engineering formulae.

    Don’t believe me?

    Just ask a CLEVER spider how does it weave a beautiful cobweb of deceit, the answer inevitable must come back to me is this – I DON’T KNOW!!!

    GD Star Rating
    loading...
  • No mercy sgov:

    Its like kicking someone when he is already fallen down.
    They really have no mercy.
    They all have more than enough due to their mil$ salaries plus plus…so they can never feel the hardships of the rest who are already struggling in these times.
    Why cant they make a big sacrifice for once?
    Heartless is the word.

    GD Star Rating
    loading...
  • Tremendous:

    The chiefs need villagers to top up the provident fund accounts badly to quickly cover up their sovereign fund losses which they used villagers’ money for.

    GD Star Rating
    loading...
  • Youtube Premium Anti Virus:

    Youtube Premium.
    Anti Virus.

    Mask wear U-turn.

    What am i saying?
    Youtube Created the Problem of Ads bombarding viewers.
    These ads brought in billions.

    Youtube Created a Solution for viewers for the problem they created by offering Youtube Premium at a cost.
    Heads they win, tails you lose.

    Virus created.
    Anti Virus.

    Lower cpf for elderly.
    Now U-turn.
    So what is wrong ? Both right or both wrong or either one policy was right?

    If policies can be u-turn without someone taking the hit for the mistake, then is that not the perfect job especially when its world highest paid for the position?

    GD Star Rating
    loading...
  • Singaporeans R Free Riders:

    Dear Simon,
    You said “……….any increase in workers CPF contributions will be totally meaningless and will go up in smoke as well.”
    ==========================================================
    You are right…thanks for agreeing with us PAP.

    We must not increase Singaporeans CPF.
    Singaporeans only take, take and take but never give back.

    Never give back Singaporeans must be , betterer, fasterer.

    GE2024.PAP.Guarantee.Win.HuatAgain
    Majullah $PAP$ $PAP$ Huat$ Huat$ Huat$
    Lazy Singaporeans must be Cheaper, Better, Faster

    GD Star Rating
    loading...
  • Singaporeans R Free Riders:

    Dear Simon,
    You said “……….any increase in workers CPF contributions will be totally meaningless and will go up in smoke as well.”
    ==========================================================
    You are right…thanks for agreeing with us PAP.

    We must not increase Singaporeans CPF.
    Singaporeans only take, take and take but never give back.

    Never give back Singaporeans must be cheaperer, betterer, fasterer.

    GE2024.PAP.Guarantee.Win.HuatAgain
    Majullah $PAP$ $PAP$ Huat$ Huat$ Huat$
    Lazy Singaporeans must be Cheaper, Better, Faster

    GD Star Rating
    loading...
  • Dio leh Luo Mo:

    All usually all sound and fury, but no substance. Very robust indeed. Ends with a warning. Warn who? Say it out loud and clear.

    Before you open your cb mouth to moralise and preach, learn how to look further than your nose.

    There is no need to worry about how business owners are going survival if the G is going to increase the contribution CPF rate of workers.

    You presumed the contribution rate of employers towards workers CPF will rise in sympathy with the workers rate of contribution in equal amount if at all.

    CB, the faster and the more often you open your mouth the more you do the senior workers in by supporting the G call to increase their CPF contribution rate.

    GD Star Rating
    loading...
  • TEMUSIK PATRIOT:

    “What is WRONG with collecting MORE MONEY” unquote Lie Con-YOU… a lifestyle to keep and Dices to ROLL leh!!!…a FOOL and his money are soon Parted…Mehhhh!!! bleats the sheep Yes Sir we are FOOLS!!!

    GD Star Rating
    loading...
  • Tracey Ching:

    Simple Simon, what the hell, do you know? The garment want to collect more $$$. The Govt is very stingy in supporting the lower middle class Singaporean’s. The Govt prefer to lose more money in foreign investment. As I have posted a few months ago about the fraud committed by Luckin, a China coffee company, mirroring Starbucks. Well, the company had just declared bankruptcy. And the Singapore Govt via GIC is a substantial shareholder. This time one wonder how much multi millions are lost???

    GD Star Rating
    loading...
  • NotMyProblem:

    “….. choice to make that contribution and continue to save for their retirement adequacy”.

    If that was the reason, this Minister Heng should recommend that the government increases the interest rate of CPF.

    GD Star Rating
    loading...
  • opposition dude:

    Since the pandemic doesn’t seem to be receding worldwide I guess businesses will have to face reality once the handouts are gone. Wouldn’t be surprised if a good number fold in the months ahead and PAP comes up with more courses to “retrain” and “reskill” locals.

    PAP isn’t stupid enough to keep handing out money to keep businesses afloat and so they will only be looking out for their own businesses. Less competition for a smaller pool of customers would be good for PAP’s own businesses. One thing they can do is to hire more locals for their own businesses but this government has long given up on us liao.

    GD Star Rating
    loading...
  • PAP anti virus:

    Same with PAP.
    Increase population.
    Water less for everyone.
    Raise price of water.

    They create the problem and they charge people more to lessen the problem.

    Youtube Premium Anti Virus: What am i saying?
    Youtube Created the Problem of Ads bombarding viewers.
    These ads brought in billions.

    Youtube Created a Solution for viewers for the problem they created by offering Youtube Premium at a cost.
    Heads they win, tails you lose.

    GD Star Rating
    loading...
  • xoxo:

    As expected.
    Suck more into MEDISHIT eventually.
    What else except Collect more money from peasants?

    What a bunch of blood-suckers!

    GD Star Rating
    loading...
  • xoxo:

    $queezing from the poor sgs is as easy as $quandering on the RICH by the rich ministers.
    No second blink of the eye,loot $100 Billion and if need more,will loot more!!!

    All ministers like Heng money(chee) How shud declare networths.

    See if they still talk crap$?

    YOU MUST BE FILTHY RICH BY NOW,MR HENG?
    Since you appointed till now,how *LOONG* has it been?

    You must ama$$ed quite a HUUUUGE $UM ?

    GD Star Rating
    loading...
  • xoxo:

    Who are the UGLY $IN-kaporean$?

    The filthy rich ministers like this one counts among them!

    Greed is *F-UGLY*,is it not?
    Minister,many jobless sgs n retirees need help but you burden them more,why?

    Your pay no enough,is it???

    Want more $$$?
    Go n become private sector CEO.
    BTW,When Kee Chiu was NTUC SG,he says NTUC FAT-price is like a SOCIAL ENTERPRISE?
    BUT HOW COME CEO GETS PAID LIKE PRIVATE ENTERPRI$E?

    IF NTUC IS SOCIAL ENTERPRISE,WHY CEO NOT PAID LIKE SOCIAL ENTERPRISE CEOs instead?

    Hypici$y is so rampant amongst our greedy elite$!

    GD Star Rating
    loading...
  • xoxo:

    In $in City,there are * $atanic Ver$es*.
    Examples: *Whats wrong with collecting more money*.
    So,* Work till you drop dead*?
    And,*Get off our elites’ faces…*.
    You die,your business.

    Chant and repeat…

    GD Star Rating
    loading...
  • Stupidity AGAIN:

    With foreigners exempted from CPF increasing senior workers CPF contribution will make them even MORE UNCOMPETITIVE. This will make it more difficult for older workers to get /retain jobs.

    GD Star Rating
    loading...
  • A waste of time:

    Straits Times: Over 80% of Singaporeans see the need to re-skill – this man (David Teo) is helping workers level up

    Re-skilling and/or training is a waste of time as long as foreign workers are exempted from CPF. They will ALWAYS be a “cheaper” (no CPF) foreigner with the same (or even more) skills. Employers will ALWAYS find a way to get them the necessary visa to work in Singapore. Private sector people are ALWAYS smarter then civil servants and PAP politicians. That is why Singaporeans are in shit.

    GD Star Rating
    loading...
  • Fickshit:

    With the present situation, the PAP govt should allows those above 60 to withdraw at least 40% of the RA foe these senior citizens to make end meets.

    These super-high salary civil servants are drawing super high salary from our CPF account and the reserve. If they still hold on to the RA account for these old folks. I hope the next election or the younger generation will over-throw them.

    GD Star Rating
    loading...
  • LHL is a FAILURE:

    Straits Times: Real household incomes decline for first time in more than 10 years

    Moreover, since LHL became PM price of HDB flats MORE THAN DOUBLED with stagnant wages further “draining” the retirement savings (CPF) of Singaporean into a basically DEPRECIATING (to ZERO because of the 99-year lease). LHL also allowed the massive influx of “cheap” (no CPF) foreign workers depressing local wages, pushing up prices and loss of job of Singaporeans to foreigners. LHL (and PAP) screwed Singaporeans big-time.

    LHL just like his father ruthless autocrat LKY and his predecessor Woody Goh failed Singaporeans. That is why after 5+ decades Singaporeans still do NOT have First World wages and standard of living. They only have First World COST of living with STAGNANT wages (if they still have a job) while LHL (and other PAP office holders and senior SPINELESS civil servants are paid millions each year.

    GD Star Rating
    loading...
  • GKY failed AGAIN:

    Straits Times: 5 doses of Covid-19 vaccine given to S’pore National Eye Centre worker due to human error

    Another fiasco under Health Minister GKY’s watch. He failed so many times I lost count. But he is still around. Why? It proves the lack of accountability in the public sector under PAP.

    Setting up a system that eliminates the risk of using undiluted vaccine is not “rocket science”. Senior civil servants likely too busy counting the big money they are paid to focus on doing their jobs properly.

    Millions of people have been vaccinated using the Pfizer vaccine. This must be the first time undiluted vaccine was used. Another “first” for Singapore.

    GD Star Rating
    loading...
  • What about free-rider Ivan Lim:

    It is almost 7 months since the last GE. PAP said it would “come back” to the Ivan Lim saga. Many Singaporeans are still waiting.

    Must not forget that Lawrence Wong said the PAP selection process is “thorough and robust” when “nasty” Ivan Lim was called out. PM LHL also added that he “has confidence” in the selection process. PAP did not defend Ivan Lim. HSK “threw him under the bus” instead of defending him. He was asked to defend himself but decided to withdraw.

    PAP knows it cannot justify what Ivan Lim’s selection. That is why it has not revisited the issue. They cannot say anything “new” to defend its selection (and Ivan Lim) because it should have been disclosed when his candidacy was challenged. Anything “new” was determined after he was selected to run proving the PAP selection was NOT “thorough and robust” as claimed by Lawrence Wong.

    GD Star Rating
    loading...
  • Billy ma:

    This PAP dude has to say something & anything to let his bosses know that he’s still around.

    The same with every other PAP dude.
    They just need to shoot their mouth off once in awhile to mark their attendance.

    HENG will be giving his 2021 budget soon.
    If he fails to bring sufficient relief to Singaporeans, he may just be voted out in GE2024 before he gets to sit on the PM chair.

    The Trust & confident level on PAP is probably at its lowest.

    Unfortunately, signs & noises from PAP have yet to level up.
    So this low may continues to go further south.

    Sad

    GD Star Rating
    loading...
  • Singapore (true blue) First!:

    “I want my children to understand the world, but not just because the world is fascinating and the human mind is curious. I want them to understand it so that they will be positioned to make it a better place …. It’s not how smart you are that matters; what really counts is how you are smart.”

    - Howard Gardner, Multiple Intelligence Theory

    GD Star Rating
    loading...

Leave a Reply

 characters available


Scroll Down For More Interesting Stuff


Member Services
Self-SupportMembers LoginSelf-Support
Sponsored Advertisement
Search On TR Emeritus
Sponsored Advertisement
Announcement
Advertisements
Visitors Statistic
Latest Statistic

UA-67043412-1