Saturday, 12 July 2014

Return Our CPF – MediShield Life

About 1,000 people showed up for Return Our CPF Medishield Life Hong Lim Park rally

More than a month after the Return Our CPF rally on June 7 to protest the increase in the CPF Minimum Sum, some 1,000 people took to Hong Lim Park again on July 12.

This time it is to “demand transparency and accountability from the government on where our CPF monies are going” and why all the CPF talk is sheer humbug. And some other points related to these.

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Hundreds attend protest against CPF and Medishield Life policies
The Return Our CPF (MediShield Life edition) rally held at the Speaker's Corner in Hong Lim Park on July 12, 2014. -- ST PHOTO: NEO XIAOBIN

Hundreds of people gathered at a rally to protest Central Provident Fund(CPF) and MediShield Life policies at Hong Lim Park on Saturday afternoon.

There were eight speakers in all: former presidential candidate Tan Kin Lian, social activist Vincent Wijeysingha bloggers Leong Sze Hian, Ariffin Sha, Han Hui Hui and Roy Ngerng, Reform Party chief Kenneth Jeyaretnam and Singapore Democratic Party treasurer Chong Wai Fung.

The three-hour event, dubbed Return Our CPF, was organised by Ms Han

Protest against CPF, MediShield Life at Hong Lim Park

A protest was held at Hong Lim Park on Saturday afternoon (July 12) against the Central Provident Fund (CPF) system and MediShield Life.

Eight speakers took to the stage, including blogger Roy Ngerng, activist Vincent Wijeysingha, former presidential candidate Tan Kin Lian and Reform Party chief Kenneth Jeyaretnam.

Speakers took issue with the coverage of MediShield


Hundreds gather at Hong Lim Park for #ReturnOurCPF (Medishield Life) protest

Several hundred people gathered at Hong Lim Park on Saturday afternoon for the second “Return Our CPF” protest, a little over a month after the first event.

This time, organisers aimed to highlight “inadequate measures” in Singapore’s healthcare programme, as well as what they said were loopholes in the planned MediShield Life scheme.

Some of the speakers included former presidential candidate Tan Kin Lian, civil rights activist Vincent Wijeysingha, Reform Party secretary-general Kenneth Jeyaretnam, Singapore Democratic Party treasurer Chong Wai Fung, and bloggers Leong Sze Hian, Han Hui Hui and Roy Ngerng.


In June 2014, the enhanced benefits for MediShield Life were announced.

It was stated that there will be substantial increases in benefits for MediShield Life that will cover all Singaporeans for large hospital bills.

At a time when Singapore is ranked as the most expensive place to live in the world, where Singaporeans yet continue to receive the lowest wages among the high-income countries, CPF is akin to an additional tax on our income.

When the savings got too big, people started to get clever

When the savings got too big, people started to get clever ideas, just like the foreigners queuing outside our PM and DPM Finance’s offices asking for financial help. The foreigners know that we have a lot of money to give if they know how and what to say. We have been very generous when they rubbed us the right way.

Now where am I? Oh, the people have a lot of money in their CPF accounts. There is no need to sell HDB flats so cheaply right? The people were rich and could afford to pay more for their flats. Along the way some got carried away and HDB flats were priced to suit the savings of the people. Very affordable indeed! The more the people saved, the higher the HDB prices. The people could afford to pay until nothing left in this affordability game.

This should be a good thing if the people had paid all their savings for the flats, no need to pay them interest or return to them. And even better still, if they sell their flats, they have to pay back to CPF with interest some more, lagi shiok. Then some people had smarter ideas. So much money laid idle in the CPF. Should invest them wisely and get higher returns and profit the balance. Who can disagree with this kind of logic and game plan. Hire the best brains money can buy, sure make money one, if not in the short run, sure make in the long run. Historical data showed that over 20 or 30 years, the returned could be 20 or 30%. Bao chiat one. How to lose money, or how can lose money?