If we are prepared to divorce our wife, we can kick our mother in law in the butt. ;p
If we are prepared to renounce our Singapore citizenship, then, we can kick the CPF in the butt. LOL.
That is always an option that disgruntled CPF members who want their CPF funds released in full can consider, some would say.
They say that we cannot have our cake and eat it too. Now, I think Roy et. al. are trying to have their cake and eat it too by pushing for CPF funds to be returned in full to the public without having to give up their Singapore citizenship. Could this happen? It could possibly happen with a change in our country's leadership. For me, it is a scary thought as I feel that the CPF now is more good than bad.
However, I have faith that as long as there is a sensible silent majority, as long as Singapore is a democracy, the system now will most likely stay intact. Crossing fingers.
Writing open letters to the Prime Minister seems to be the thing to do now and AK will also write one saying what AK would do if he were in government.
Dear Prime Minister,
1. Without deviating from the philosophy that is the bedrock of the system, power up the system to provide higher returns. Singapore is a very expensive country to live in and also to retire in. It is about helping CPF members feel more secure about meeting their retirement needs, a hot topic for a while now. Powering up the returns on the first $60K in the OA and SA was something you did before. Now, powering it up a bit more will definitely help.
2. Inject some compassion into the system while staying level headed. There are those who are irresponsible, who had advantages but squandered them. There are also those who suffer through no fault of their own. Applications by these CPF members to tap into their CPF savings could be given consideration.
Allow micro-tapping if it is going to help meet these members' needs in life. Explain to them the consequences of micro-tapping over the longer term and try to find better and socially more responsible solutions to their problems so that they are resolved permanently.
3. Step up efforts to educate the public on how the CPF can work for them. Let them know what they can do to make a secure retirement happen with their CPF savings as a cornerstone of their financial portfolio. It is about the public helping the CPF to help themselves.
Knowledge gives everyone power while the lack of knowledge gives some amongst us power. This will give a new meaning to the phrase "power to the people" which Roy Ngerng et. al. are using now to rally support.
Once financial literacy is widespread amongst the people, then, the people will truly have power over their financial health. Only then, will they be truly powerful.
Constant wide reaching education done well is the most important measure to take and will empower our people.
1. We do a better job than the CPF.
2. Achieving level one financial security.