We ask the Chief Executive of the Ministry of Social Justice Brendan Boyle to stop deducting money from the New Zealand superannuation payments of Singaporean permanent residents.
Why is this important?
The Singapore CPF savings fund is not a pension fund, it is private citizens’ personal savings. Thousands of Kiwis have worked in Singapore and collected their tax-free CPF savings.
However, Singaporean Permanent Residents of New Zealand have their CPF savings taxed 100% because the Chief Executive of the Ministry of Social Justice ruled that the monthly refund of one’s own CPF savings, “can be seen as a periodic allowance”. So the New Zealand government confiscates 100% of the amount refunded monthly to Singaporeans by the Singapore government through the superannuation due to them.
This is an appeal to all decent, fair-minded folk, especially those who worked in Singapore and collected their tax-free CPF savings.
The Singapore government refunds all CPF savings of foreigners except to its own citizens. John Key collected his tax-free CPF savings when he left Singapore after working in Merrill-Lynch Singapore.
Whereas the Singapore government refunds to Singaporeans in monthly instalments, the New Zealand government, under National, takes them outright, the personal savings of Singaporeans, which are not state-funded at all.
How can all other nationalities collect their CPF Savings from the Singapore CPF Board, but a Singaporean national’s monthly contributions CPF savings is taxed 100% by the Ministry of Social Development?
Please give your support by signing this petition.
Also please read the following and view the video to understand this discrimination by this Chief Executive http://www.scoop.co.nz/stories/PO1611/S00025/private-pension-blunder.htm