When Retiree Leave Your Money in CPF Bank

Almost every year, there will be a news reported that retirees lost their hard earned money from investment.  Even after Lehman Brothers Minibond saga in 2008, not sure why MAS still allowed Banks to sell unsecured products to those ah gong and ah ma.

Everytime something happend, the scape goat will be the Relationship Manager, but who rent the place to RM.  Most consumers will assume that the product is from the bank and let their guard down.

Anyway, sueing might not help as Banks have sharks lawyer.  Best way if you are a son or daugher, do keep your old papa and mama inform and avoid those RM sharks that greet you with a BIG smile at the bank entrance.

Retiree sues UOB over $1.15m in investment losses

https://www.straitstimes.com/singapore/courts-crime/retiree-sues-uob-over-115m-in-investment-losses