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Chong Chieng Jen's Blog

Posted by Admin Direktori Blog | Posted on 3:46 PG

Chong Chieng Jen's Blog


Cut GST,not EPF, to boost economy

Posted: 30 Jan 2016 10:26 PM PST


The Government's policy to cut the employee's EPF contribution rate from the existing 11% to 8% is basically using our future savings and income to boost the present dire state of economy. It is sacrificing our retirement protection for the present short-term relief.

To boost our economy, the government should be reducing 3% of the Goods & Services Tax (GST) instead of reducing 3% of the employee's contribution rate.

The reduction of 3% of the contribution rate today will severely affect 80% of the contributors' retirement plan and livelihood, especially those belonging to the middle and lower income group.

According to the report by the CEO of the EPF board in March, 2015, 80% of the contributors will be living at poverty level after retirement.

In his report, he highlight that, there were about 14 million EPF contributors, out of which, 69% will have less than RM50,000 EPF savings upon retirement. Without any extra income, they will finish this savings within 5 years.

In fact, the recommended savings for retirement according to the EPF board is RM196,800, a sum which is sufficient to pay for a meagre monthly expenses of RM800 for a period of 20 years.

Bearing in mind that the poverty income level in Malaysia is RM830 per month. Even with an EPF savings of RM196,800 upon retirement, that contributor will still be living under poverty level for 20 years after retirement.

The shocking fact is that, only 20% of the contributors will have this recommended amount of RM198,600 when they retire while a great majority will have a lot less saving than this amount. And even with this amount, one shall not fall sick if one wish to live for 20 years with RM800 per month.

Under the circumstances, a good government should be thinking about how to increase our retirement savings rather than how to use our savings to save the mess that it has created, using our retirement savings to boost the present economy statistics and figures.

The present policy to reduce the contribution by 3% will be most felt by the lower middle income group when they retire.

In the last two years, the Government is targeting the general public to finance its extravagance and corruption. The following are but some of such policies:
1. when international oil price was high, the people had to buy expensive petrol, but on the other hand, when the international oil price came down by more than 50%, the people are still forced to buy expensive petrol.
2. cut in the subsidy on education for the poor.
3. implementation of Goods & Services Tax (GST), taxing the poor.
4. reducing the EPF contribution rates, using our future income.

These are only some of such policies which have a direct impact on the people. Besides these, there are also some other which are not so visible ones, like the so-called "investment land purchase deals with 1MDB" by some trust fund boards.

At the end of the day, we, the people are paying the debt of mega corruption and the wasteful spending og Barisan Nasional government for the past few decades. The worse is that, despite the people's and the nation's sufferings, such wasteful spending and corruption of the government still continues in the continuous revelation of the scandals affecting the prime minister and the non-transparent allocation to the Prime Minister's Department in our budget allocations.

We call on the government to cut GST by 3% and not to cut the EPF contributor's contribution saving rates by 3%.

政府应降低消费税

Posted: 30 Jan 2016 10:22 PM PST

           
(古晋30日讯)公积金局削减雇员公积金缴交率的政策,根本就是在焚林而猎,只为解决国家眼前的经济困境和统计数字,而不顾员工的长远利益。 若要解救国家整体经济,政府应该做的是削减3%的消费税,而不是削减人民退休存款的缴交率3%。
民主行动党古晋市国会议员兼哥打圣淘沙州议员张健仁指出,日前公积金局所公布的,将雇员公积金缴交率从原本的11%降至8%,将严重影响80%以上工人阶级的退休计划和日后的生活条件。
张氏指出,根据2015年3月公积金局所公布的数字,80%的工人阶级的退休人士,在退休后,将处于贫穷阶级的收入。
公积金局的局长在2015年3月的公布指出,目前共有1400万雇员缴交公积金,当中69%在退休时其公积金的存款将是少过5万令吉,如果他们没有其他收入,他们的退休金在5年之内将用完。
他也指出,公积金局所建议的退休存款数目是19万6800令吉,这笔数目将可支付一个退休人士每月开销800令吉,为时20年。
张氏说,马来西亚目前的贫穷月收入是830令吉。 这也意味着,即使一个人在退休时有19万6800令吉的公积金存款,他若果退休后还会活多20年,他还是需要生活在贫穷收入的水平下。
"目前,只有20%的公积金的会员在退休时,有达到这笔公积金的存款。 其余的80%公积金会员都没有达到这笔存款数目目标。 而且,就算有这笔存款,大家还需谨记的是,在这20年的退休时光,千万不要生病。 医药费再加下去,情况将更糟糕,更不堪设想。"
张健仁表示,11%的公积金缴交率原本就已非常不足以保障大家的退休日子了,更何况,如今再削减3%至8%的缴交率。
"一个好的政府应该是要设想如何增加人民的退休存款,而不是反其道的向这笔退休金动脑筋,用人民的退休金来刺激开销,粉饰经济统计数字。"
他说,根基政府的估计,这削减的3%,将使今年在市场的可使用资金增加80亿令吉,对刺激国家经济有帮助。 但是,这种政策根本就是在焚林而猎、杀鸡取卵,为了解决眼前的宭境,不顾公积金会员将来的死活,而影响最深远的将是中下阶级的一群。
他指出,这一、两年国阵政府的所实行的以下政策,已暴露出令人担忧的国库空虚实况:
1. 石油涨价,要人民买贵油,油价跌了超过50%,但还是要人民买贵油。
2. 削减补贴贫穷人士的教育津贴。
3. 实行消费税,向贫穷人士征税。
4. 减低公积金缴交率,动用退休人士的退休金。
张氏说,这些只是一些有直接影响平民百姓的政策,另外还有许多人民看不到的,如动用一些基金的钱去拯救1马发展公司的所谓"买地投资"。
"归根究底,马来西亚如今的困境,都是国阵政府几十年来的贪污腐败滥权和浪费所导致。如今,人民被逼要还国阵的贪污债。 更甚的是,在如此国难当头的时刻,我们还是继续的看到这些贪污滥权的事件,接二连三的被暴露,而首相署的不透明开支还是再继续着。"
张氏说,如果政府真的要挽救国家经济,它应该是减低消费税3%,而不是减少雇员公积金缴交率3%。

Ubah Machine Tour –Miri

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Date: 1/2/2016

Time:7pm

Venue: R Teh Kopitiam 
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Machine Sarawak Tour - Bintulu

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Date: 31/1/16 (Sunday)

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All are welcomed!

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See you there!

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