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Retiree Wears Placard Claiming S$238,800 from His CPF Savings “Gone with the Wind” Because of Bank

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This lao uncle was seen wearing a placard outside a bank at Raffles Place, apparently angry that his savings meant for retirement were “gone with the wind”.

The retiree was seen on his one-man protest at 11am last Friday (8 Feb).

According to the words on his placard, his wife who is also a retiree used to work at a bank, and convinced him to invest S$250,000 with the bank.

The man claims he withdrew his CPF savings and topped up additional cash from his personal savings to make the investment.

But, according to him, the bank lost his money and he was left with only S$11,000 from that investment.

As written on his placard:

“My loving wife is very, very sad. What should I do now?”

Shortly after, a staff from the bank said that the man was approached and that the bank will handle all his queries regarding his investment fairly.

 

 

1 Comment

1 Comment

  1. Roger Lim

    February 11, 2019 at 9:15 pm

    It will be the same for some if the oppies got their way to have the CPF withdrawn at age 55. Where their CPF which is meant for their retirement would “go down the drain”. And then they become destitutes later on in their older age.

    Then what? Govt has to look after them? Or else they will end up collecting cardboards?

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