When I receive my CPF statement, I feel so rich….

Not I say one. It’s our NTUC’s secretary-general, Mr Lim Swee Say.

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.”

I would like to once again remind Mr Lim that the Ministers in Singapore are one of the highest paid in the world. In fact, his US$1.06 million annual salary makes George W. Bush’s US$400,000 salary looks like peanuts. No wonder he feels so rich after reading his CPF statement.
And since we are in a recession, maybe it’s time to re-look into our minister’s salary. Especially when one of our minister feels rich after reading his CPF statement.

9 comments

  1. I wonder why he said that he felt rich when he sees his CPF statements. CPF is only paid up to the $4.5k salary. Beyond that no CPF is collected. So for salary of S$ 1,000,000 per annum only S$54,000 is subjected to CPF. So he still takes home $946,000 per annum. Wouldn’t he feel richer looking at this bank accounts instead of his CPF statments?
    Don’t understand.
    Cobalt Paladin´s last blog post..The Financial Hitman

  2. Cobalt Paladin: There are some discrepancies in his statement. We don’t receive CPF statement every month.
    Yeap, I bet he will feel a lot richer when he see his bank statement. But that’s another story.

  3. I have stopped caring about how much they take as long as they don’t screw up. 🙂 Now compare the S$ 3 million to some US$ 2.5 billion dollars of bonus for the 11,000 staff in Lehman Brothers New York – earmarked for that, and now paid by buyer Barclays – that S$ is really peanuts.
    Note, at US$ 2.5 billion each of that 11 staff will get an average of US$ 227000+. And do you think the person clearing the payments, the firewall guy etc will get that amount? In other words, some of the fxxkers who ‘blew up’ Lehman is still gonna get their fat bonus, after they fxxked up. Now, with that in mind, I don’t complain about our ministerial pay anymore… until they screw up.
    xizor2000´s last blog post..Daily Discourse – DBS High Notes 5

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