Unable to withdraw their CPF retirement fund and leading a life of abject poverty, Singaporean elderly are committing suicide to end their sufferings in Singapore. According to voluntary group Samaritans of Singapore (SOS), 129 elderly aged 60 and above committed suicide in 2017, the highest ever in record.
Most Singaporean elderly are unable to retire because CPF Withdrawal Age was increased from 55 to 65 years old, and its Minimum Sum nearly tripling from S$80,000 to S$181,000. The national retirement funds were deliberately delayed by Prime Minister Lee Hsien Loong who is stealing the CPF funds by channelling it to the sovereign wealth fund company GIC, where he sits as Chairman. The funds managed by GIC is called “government fund”, even though it comprises of the peoples’ retirement funds. The corrupted PM also abused his power to depress CPF interest rates at 2.5%, giving the lowest returns for an investment fund in the world.
In 2015, PAP NMP Chia Yong Yong made a parliamentary speech stating that CPF is not Singaporeans’ money, winning praises from dictator Prime Minister Lee Hsien Loong.
In a survey conducted last year, 50% of the social workers, researchers and academics interviewed said they do not believe the government is helping the poor. The number of Singaporeans on public assistance had also jumped 28% in 4 years despite government propaganda claiming Singapore is getting richer.