CPF: Roy and H3 would concur

In Financial competency, Humour on 01/11/2015 at 6:16 pm

Other people’s money: A financier’s plaything. “The goose that lays golden eggs has been considered a most valuable possession. But even more profitable is the privilege of taking the golden eggs laid by somebody else’s goose. The investment bankers and their associates now enjoy that privilege. They control the people through the people’s own money.” (Louis Brandeis, U.S. Supreme Court justice.)

[Err Substitute the words “PAP administration” for A financier’s plaything and The investment bankers and their associates and you see that the young hooligans of “Free Our CPF” are onto something.

Pension plan: A collection of unpayable corporate promises backed by inadequate funds and managed on the assumption of unrealistic returns.

  1. Nothing surprising. If I’m the govt, I would also do the same thing. And in fact will make it more aggressive with the oncoming silver tsunami. No free lunch. Those turning 55 & 65 in the next 10-20 years will be in for a bloody hard time if they are depending on their CPF.

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