CNA clarifies on what Lim Swee Say said on CPF
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NTUC Secretary-General Lim Swee Say clarifies a Channel NewsAsia report which quoted him on Sunday (June 22).
SINGAPORE: The Secretary-General of the National Trades Union Congress (NTUC), Mr Lim Swee Say, has clarified a Channel NewsAsia report which quoted him on Sunday (June 22).
He has penned the following letter in response:
I refer to the article, "Prepare for retirement 'by using less CPF money when young'" (23 June).
The article para-phrased my comments and wrote, "The best way for Singaporeans to prepare for retirement is to use less of their Central Provident Fund (CPF) money when they are young." It gave the impression that I have urged Singaporeans not to use their CPF monies before retirement for any purpose including housing, healthcare and education for our children.
This is incorrect.
For the record, I made three points about CPF:
Firstly, CPF is your money. Nobody can take away that money from you.
Secondly, your money with CPF is 100% safe and continues to earn risk free interest, even during challenging times like the global financial crisis in 2009.
As the third point was reported out of context, I reproduce the relevant text of my interview here:
"Thirdly, the money is mainly for your retirement purpose. Besides housing, healthcare and education for your children, a very important part of CPF is to cater for retirement. So, for every dollar, if you can defer the use of the dollar, it is better to defer the use of the dollar when you are still young. For example, instead of thinking of whether you can spend your CPF savings at the age of 55, I think we should think about how we should help our Singaporeans remain employed, to continue to earn a good living, a good job and at the same time, to continue to contribute to the CPF. Because the more money you have in your CPF and the longer you defer the use of the CPF, the more you will have for retirement, as all of us are living longer and longer. So, these are the three basic points: firstly, the CPF is your money, no one can take away from you. Secondly, your money is 100% safe. Thirdly, the less you make use of your money when you are young, the more money you will have for retirement."
It is clear in this context that 'young' refers to those who are aged 55 and "less use" of the CPF money refers to the CPF cash withdrawal for purposes other than housing, healthcare and education for the children.
Lim Swee Say
Secretary-General
National Trades Union Congress
- CNA/ly
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We need to be cheaper better faster.
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Somebody posted comments to use zorro's cpf for retirement.
That particular group of people like to take turns to speak stuff which we deem as irrelevant, empty talk. Get so much salary to do this, really waste money.
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Who bully my favorite MP !???
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Originally posted by charlize:
We need to be cheaper better faster.
you in funeral wake business?
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You don't agree with cbf?
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this xia suay guy really talk too much crap already.
"Firstly, CPF is your money. Nobody can take away that money from you."
ah what? if it is, then how come at 55, he/she cannot take his/her money out?
hmm or maybe got hiddn message ah?
"Firstly, CPF is not your money. Nobody except the gov't can take away that money from you."
makes sense. which means CPF = 20% tax, lol.
"Secondly, your money with CPF is 100% safe and continues to earn risk free interest, even during challenging times like the global financial crisis in 2009."
100% safe? risk-free? btw what is 100% safe and risk-free?
banks collapse, at least got up to 50k. but CPF leh?
i think there is nothing for the third one, it is total crap.
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below 55 is young!
im young!
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Originally posted by Hope4singapore:
Who bully my favorite MP !???
Do you own a business? Is your workforce cheap, good & fast? -
if no food to eat now , still have food to keep for next season?
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The more he talks the more discount in trust people give him.
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who can i believe? Myself.
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Originally posted by iveco:
Do you own a business? Is your workforce cheap, good & fast?Someone related does. Usully my favorite MP slogan is cheaper,better and faster & must upgrade upgrade and i follow suit also.Now, I also copy him keeping some ding taitai fung toothpick like he mentioned previously as i dun eat there often,too atas .u nvr know when it will be useful to show ppl i eat there b4.
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wow, elite spotted.
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Originally posted by charlize:
wow, elite spotted.
Who who ?? my favorite MP?
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You atas lar, can eat at atas place and take toothpick.
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Originally posted by SJS6638:
The more he talks the more discount in trust people give him.
i gave him more than 90% off liao
anyway some ministers already have zero or even negative ...
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Originally posted by SMB145B:
i gave him more than 90% off liao
anyway some ministers already have zero or even negative ...
Base on their performance they deserve discount.
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Originally posted by SJS6638:
Base on their performance they deserve discount.
we need more of them in the red.
this xia suay guy really had too much time and wasted a hell lot of time. it does not help in anyway.
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Originally posted by SMB145B:
we need more of them in the red.
this xia suay guy really had too much time and wasted a hell lot of time. it does not help in anyway.
He is one of the many white elephants from that empire. Why daft selfish self centred sinkies refuse to put a stop to give them mandate?
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Originally posted by SJS6638:
He is one of the many white elephants from that empire. Why daft selfish self centred sinkies refuse to put a stop to give them mandate?
btw we are talking about 50-60 white elephants ...
the 60.1% better wake up (i guess about 56%, TJP residents do not get to poll and after the 2 by-elections in Hougang and Punngol which MIB won)
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kar nar sai la all sama sama, better dont go goldheart jewel atria at 313@somerset, years ago went there to buy wedding bands coz gf like it, kar nar sai that old hag in there the oldest staff la no need to see its her loh, walao thought what keep saying we are goldheart very pro, kar nar sai la, very pro and good service then should have more stores mah why only 3 leh. receipt also never hand over to me but to my gf walao real jia sai, service also bad and old school la. then waited so long also never have and called and she kean scolding and shouting by me hahah good for her deserve it. then changed place to another location pick up dont want see her. jia sai
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Originally posted by SMB145B:
btw we are talking about 50-60 white elephants ...
the 60.1% better wake up (i guess about 56%, TJP residents do not get to poll and after the 2 by-elections in Hougang and Punngol which MIB won)
60.1 sigh .... they are small minded, self centred , shortsighted and greedy. They will do it again to vote to give us a hard life. They are hypocrites, daft.
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Originally posted by iveco:
Do you own a business? Is your workforce cheap, good & fast?This one flip flop, prata ........ think he is only a ginnah