DON'T SHORT CHANGE US ON THE CPF PARTIAL RESTORATION

As expected the partial restoration of the CPF was lauded with much praise and greeted by exuberant jublilation by the NTUC. The NTUC said that the goverment has "kept faith with workers". But have they really. The fine print shows it: The full 4% restoration will go into the special account of those over 36, the very people who need this money to make their mortage payments. These are the people who are probably most in debt with school going children, car payments and other household and family committments. Many of these people are probabaly topping up their mortgage payments with cash or are rapidly depleting their ordinary account balances. They need the relief that this extra 4% will bring in having to make less cash outlays and reducing the rate of depletion.

It is the ultimate insult to the hardworking people of Singapore and an outrage that when ministers increased their salaries, most of this flowed directly into their pockets. Why did they not direct it to a special account for their retirement instead.? But when the CPF is only partially restored, this measely 4% is whisked away from under our noses to a special acocunt which we cannot touch, not even to pay for the roofs over our heads.

I think the goverment owes the people of Singapore an explanation. All this partial restoration has done is increase the burden on the employer without any real benefit for the employee. The biggest beneficiary is again the goverment. Most of this restoration contributed by the employer will now sit in the CPF and will increase the already large coffers of cheap funds for use by the goverment to pay ridiculous multi billion compensation amounts to telcos and other soon to be privatised utility companies who have already been making billions from the people of Singapore.

Lets not short change the people of Singapore. They paid their dues during the crisis. Its time that we are paid our dues, fairly and squarely.

FUND BOOST WITH STRINGS ATTACHED COMES UP SHORT

As expected the partial restoration of the CPF was lauded with much praise and greeted by exuberant jublilation by the NTUC. The NTUC said that the goverment has "kept faith with workers". But have they really. The fine print shows it: The full 4% restoration will go into the special account of those over 36, the very people probably most in debt with school going children, car payments and other household and family committments. Many of these people are probabaly topping up their mortgage payments with cash or are rapidly depleting their ordinary account balances rapidly. They need the relief that the extra 4% pont restoration will bring in- having to make fewer cash outlays and reducing the rate of depletion.

When the CPF is only partially restored, this measely 4% is whisked away from under our noses to a special acocunt which we cannot touch, not even to pay for the roofs over our heads.

I think the goverment owes the people of Singapore an explanation. All this partial restoration has done is increase the burden on the employer without any real benefit for the employee.

Lets not short change the people of Singapore. They paid their dues during the crisis. Its time that we are paid our dues, fairly and squarely.