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13-06-2014, 12:00 PM
An honorable member of the Coffee Shop Has Just Posted the Following:

I could not remember which minister said this. When no one is protesting outside the Parliament House, it means the people are happy or have accepted the new policy. Or if no one is complaining, then the people are supporting the govt policy. Did anyone complain when the minimum sum schemes were introduced? I think no one did. So the Govt must have read the ground saying it was ok, the people supported the policy change.

Now some noises were made against the minimum sum schemes and no one can blame Chuan Jin for saying that this was implemented many years ago and what is happening to day, to raise the minimum sum to $155k, is just a continuation of a policy decision made many years back. And the minimum sums would continue to rise as part of the plan to keep up with inflation to ensure that the people’s savings in their CPF will stay at the value of $120k when it was first decided. Sounds very logical and very correct and very right.

7 Jun in Hong Lim Park has changed something. About 5000 people turned up to support the protest against the minimum sum schemes and several other conditions tied to the CPF scheme. Would this make any difference? Would the Govt accept this as a protest by the people and their unhappiness with the CPF scheme? Oh, the protestors did not march to Parliament House. So got count or no count? Or would 5000 be seen as a drop in the ocean, nothing to worry about? Or would it be a case of too little too late. The decision was made many years back, cannot change anymore.

How would the Govt make of the Return My CPF protest? If it is seen as a small incident, a small anomaly, and all systems go, what would it take to make sure the Govt get the message that the people are unhappy and disagree with the govt policy on the CPF? Would more people turning up at Hong Lim make any difference?

There will be another protest on the same subject on 12 Jul. Could this be the opportune time to reconfirm, double confirm the message so that the Govt understood and do some changes to the CPF scheme? Should the protestors march to Parliament House after the rally in Hong Lim? How many people would be needed to make a difference, 12,000 or 20,000? The Govt will be reading the attendance to decide if the people are with or against the policy.

Or would it need to take a GE to change?

By the look of things, the schemes within the CPF are as good as cast in stone. The minimum sums would be there and would keep on increasing. The withdrawal age will keep on increasing, the premiums for Medishield Life will likely to increase after the initial years, and so would be the premiums for CPF Life to keep up with inflation. And the interest rates of 2.5% and 4% will be the norm with the occasional extra 1%.

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