Our government is very good at reassuring its citizens.
For certain trade-offs, I get economic stability and a solid infrastructure. Good deal.
In these times, I think a good portion of the citizens feel the jitters from the toxic financial tornados that's tearing global markets apart.
So our NTUC Secretary-General said:
Giving some financial advice at the seminar, Mr Lim said: "Every month, when I receive my CPF statement, I feel so rich and the best part is, I know the CPF money won't run away. CPF will still be around for a long, long time to come... Not only is it earning good interest, my capital is protected."
(Click here to view full article on ChannelNewsAsia.)
Ummm... since when do we get a monthly CPF statement sent to us ah? He must have meant that he checked it online right? RIGHT?
Everytime I look at my CPF statement and its supposedly 'good' interest earned, I have this incredible urge to tear it up and chuck it out of the window. Admittedly, the CPF policies of 'forced savings' are sorta necessary in the early years of nation-building; I can't understand why we can't opt-out now, if the persons opting out meet certain criteria and all.
Some of us view the CPF contributions as a mandatory needless evil that don't do squat for our investment portfolio.
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