12 Oct '11, 2am

Why do we have a CPF system that is broken down? Here is the answer:...

Many years ago, I was proud of our Central Provident Fund system. It was simple and good for the people. It allowed them to accumulate their savings for old age. Later, it was used to purchase a HDB flat at an affordable price. The CPF system started to be changed, for the worse, after 1985. Many changes were introduced that had negative impact on the scheme and produced worst outcome for the citizens. Today, I can only say that our CPF scheme is complicated, convoluted, confusing and is not producing the right outcome. I will be writing on what the changes that I like to see in our CPF scheme, that will make it good for the people, and for the Government. I want to say something about why things had turned out to be so bad for the CPF. The people who manage the CPF, i.e. the Ministry of Manpower (and its predecessor ministry) and the policy planners (i.e. the scholars) we...

Full article: http://tankinlian.blogspot.com/2011/10/cpf-my-views.html

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