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cpf is my money
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redbean



Joined: 07 Mar 2006
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PostPosted: Wed Aug 13, 2014 9:41 am    Post subject: Reply with quote

When should one stop saving for retirement?
Theoretically one should never stop saving for retirement if one can afford to as no one can tell how long would a person live. For practical purposes, and with statistics available, it is reasonable to say that most people would have died before they hit 90. By 80 probably 80 percent could have died. By 70 very likely 60 percent would have died too. These are just estimates but not too far from realities.
Under normal circumstances, people should start to enjoy their life savings about 10 years before the end of their lives. If not, what is the point of saving for retirement? Leaving it too late would mean not benefitting from their savings or leaving too much money unused when they die. Taking them out too early would likely lead to a depletion of the savings, assuming that the life savings are the only source of fund for retirement. In many cases this is not so and many don’t really need to touch their savings when they have too much money or with family support.
Would it therefore be reasonable for people to start to withdraw from the savings at 60? It used to be 55. Or would it be a practical thing for people to stop saving for retirement after 60? Why continue to stress on your finances and stinge on your expenses to live a bit better by not savings after 60? Those who have a lot of money to save, by all means keep saving.
Is it reasonable for the Govt to force the people to continue to save irrespective of their age? Why are people forced to save at 60, 70, 80 or 100 years? Is the Govt being unreasonable? No such things?
For people who are self employed, who needs to renew their licences, they are required by law to contribute to their Medisave Accounts regardless of how old they are. There is no limitation on the age of the person. As long as the person wants to renew his licence, pay up. 100 year old also have to pay if one happens to be self employed. Why? The Govt said so.
And in the case of people selling their properties that they bought using their CPF savings, regardless of age, they must repay what they took from their CPF savings plus interests. So, if one is 80 and decided to sell his property, if he borrowed $300k from his CPF, he needs to repay this plus the interest, assuming 2.5% for 30 years, or 75% of the loan. The total sum to be put back into his CPF could be $525k. Why would an 80 year old person need to have $525k in his CPF account? It could be a bigger sum, and at an older age.
Why is this happening? No one bothers to think through it? No one bothers to amend thes irregularities? Or the Govt really wants this to be the case?
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redbean



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PostPosted: Thu Aug 14, 2014 8:38 am    Post subject: Reply with quote

CPF savings not enough
‘According to a recent survey by Manulife, only one in 5 Singaporeans feel confident that their CPF savings will be sufficient for them to retire comfortably.
The survey, which was conducted online with over 500 respondents over the last three months, found that almost half (47%) believed that they didn't have enough CPF savings to meet even their basic retirement needs.’ Posted in TheRealSingapore
What to make out of this survey? The first thought, let’s make sure that the 80% would have enough CPF savings when they retired. Let’s help them! One way is to make sure that they save more. If 50% of their income not enough, make them save 60%. This should help. If not, increase to 70%. This should be easy. The second option is spend less, to stop them from buying properties that they cannot afford and at too high a price. This option may be a bit difficult to implement as all of them would swear the properties they are buying are affordable, especially HDB flats. And they will quote the ministers as the authority that HDB properties are affordable. The problem part is that the 80% most probably bought HDB flat and now say they would not have sufficient savings for retirement. Don’t ask me why. The third option, make sure they can only take out their CPF savings 5 years before they are about to die. As an example, if they are to live to 100 years, allow them to take out their savings at 95. Like that sure got enough. But problem is how to know they will expire in 5 years? Maybe can ask god.
Another way to look at this problem is to question what they meant by not enough? Are they thinking of living like a king, a minister, a civil servant or an ex PME? If they are thinking of living like the first 3, then even if they contribute 80% of their income to CPF also not enough. But if they think like living like an ex PME, willing to be taxi drivers until they expire, then whatever they have in their CPF, or don’t have, also got enough. Ex PMEs are more down to earth and would probably downgrade to eat in the hawker centres. They would also be happy to drive their taxis till the last day. So got or no got CPF, never mind as long as they can drive their taxis. Can’t imagine them be cleaners or security guards at 90 years old,
So, looks like the problem is about explanations or is it expectations. Want to eat in restaurant sure not enough. Want to eat in foodcourt maybe enough, maybe not enough. But if happy to eat in hawker centre, sure enough.
So, what is the problem with the survey findings? Want to tell them not enough and then help them by increasing their savings to 60% or 70%? Or want to tell them the hard truth, everything is enough if don’t buy expensive affordable HDB flats and eat in hawker centres? See, no problem right? Or shall I con them by agreeing with them that money not enough so that I can help them, to save more for the future and eat lesser now?
Tiok boh?
PS: I have not told them the secret formula…sell their homes, sure enough.
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redbean



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PostPosted: Wed Aug 20, 2014 10:48 am    Post subject: Reply with quote

CPF – A follow up on 23 August 4pm at Hong Lim Park
Han Hui Hui and Roy Ngerng and company will be at Hong Lim Park again this Sat, 4pm. This will be an interesting session after the impending changes announced by Hsien Loong last Sunday.
What would these champions of the people’s CPF money be saying on the new changes? Find out at Hong Lim.
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redbean



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PostPosted: Thu Aug 21, 2014 8:27 am    Post subject: Reply with quote

CPF – The same logic is applicable both ways

There is this anonymous commentator in my blog that is very persistent with the govt’s version of ‘What if he spent all his savings after withdrawing everything from CPF?’ To this commentator, this is good enough reason for the govt to justify keeping all the retirees’, all not one or two that would squander their money away, money in the CPF and to decide how much and when to let them have some of the money to spend. By posing that question the govt is passing the buck to the people. You are now responsible for coming out with an answer if not it means the govt’s solution is the best, the govt has the right to keep your money.

This kind of ‘yeh mun’ (pronounce in Mandarin) logic is only sound as long as the person using it is in power. And it is a very dangerous logic as it can be apply to all kinds of flimsy situation to the disadvantage of the people. Why should not the same question be posed to the govt? Sure, and the govt will say that is why the govt has to keep the money for the people for their good.

Ok, don’t ask this question. Sure lose if the other side is ‘yeh mun’ type. The govt is so afraid that all the people will spend their life savings and ended up no money for retirement. If the govt can fear the people squandering their miney, can the people likewise fear the govt for squandering away all their money in the CPF? Is this a reasonable fear?

The govt is made up of people, ordinary people that the people elected to represent them in Parliament. If they are not elected, they will be just like you and me, as smart as you and me, or as stupid as you and me. And if we can squander our CPF money away, the same kind of people in the govt can equally do the same notwithstanding some of them may arrogate themselves to be immortals or super talents.

The people have many avenues to squander away their money. Sure, go to Batam, go drinking, go frolicking, go gambling. Does the govt have equal or more opportunities to squander the people’s savings away? I am not saying they will. But they make big decisions, they think big, they have big appetite, they like expensive toys, expensive mega projects, queer pet projects, like winning the World Cup or gold medals, hold big parties and celebrations, go overseas with all kinds of good reasons. And they invest very very big. A wrong decision, wrong timing, or being conned by snake oil sellers, can be very costly.

The people have all the reasons to fear the govt spending away their money too. That is why they are protesting at Hong Lim to want to know what is happening to their money. The people have all the rights to fear the govt as the govt is made up of ordinary men and women, not gods, not immortals, not infallible. They may want to pass the risk to so called foreign talents to manage the money. This is equally, if not more dangerous, as the people hired could turn out to be turkeys.

How much have the govt lost during the Lehman bonds and toxic notes crisis and the global financial crisis? Sure no small peanuts, but more like golden peanuts.

The question is, who should fear who, the govt fearing the people squandering their money or the people fearing the govt squandering away their money? Can the people apply same logic and same solution on the govt, to control the purse of the govt and only allow them limited money to spend just in case?

What do you think?
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redbean



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PostPosted: Tue Aug 26, 2014 8:27 am    Post subject: Reply with quote

CPF – Still didn’t get it
After two protests and a third last week, and a fourth in September, the Govt does not seem to get the message that the CPF is the people’s money and they want it back, not another miserable 20%. The Govt is still thinking that it has the right to take over the management of the people’s life savings, and can do as it pleases.
Why is the Govt adopting this deaf frog attitude and ignoring the people’s cry and risking losing the support of the people? Let me guess. It really does not think there is anything wrong with taking over the people’s life savings. The Govt has the right to do so. Another possible reason is the arrogance that the people cannot do anything about it no matter how wronged and how angry they were. We are the Govt and the people have to live with it, at least until it is booted in the next GE. Of course the Govt does not think so and must believe that the majority of the people would not mind at all.
The third reason is that it is desperate and in need of money despite the claim of having hundreds of billions in the reserve. The persistence to hold on to the people’s money is wrong, but the Govt has no choice. Returning the money to the people at 55 is no go, not an option. Die die it must grab hold to the money. It can ‘no hew’ the people and even alienating a big number of voters. So be it. The situation is dire if the CPF money is returned to the people. It is a case of no choice, no way out.
What could be the real reason behind this aloof and arrogant decision to hold on to the people’s money despite the growing anger is puzzling. Politically it is unsound and unwise, and suicidal. The party cannot afford to take such a high risk at this moment and pretends that it is alright to do so.
What about the stand of the various ministers and MPs? Do they agree that this is an acceptable thing to do, a right thing to do, or an expediency that is a do or die option? Several ex MPs and top civil servants have this habit of saying that they did not agree to some policies when they were in office but only saying it out after leaving office. With the CPF issue a hot potato now, the ministers and MPs do not have the luxury to remain reticent and thinking that they could say their piece when out of office. They are in it, agree to the policy and supporting it, or they are not. By keeping quiet, they are telling the people they are for the policy. They support the withholding of the people’s life savings without the consent of the people, and saying yes when the people are protesting and saying no. This violation of a fundamental principle, that the Govt can unilaterally take hold of the people’s money and do as it likes, under whatever flimsy excuse, is indefensible. There is no good reason, no justifiable reason, to take the people’s money from them.
The next GE would see this principle being put to the test. It would be the main issue in the election with the people voting for or against it. It would be the deciding factor.
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redbean



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PostPosted: Tue Sep 02, 2014 9:44 am    Post subject: Reply with quote

Daft, daft and daft

Don’t Sinkies get it? Everyone has been calling them daft day in and day out and they are so happy about it, or pretending not to know. At 55 years old, got a life time of education, raised a family, some are Ah Kongs and Ah Mahs, some sitting in board meetings as senior management or as CEOs, and they said you are daft. They said you are irresponsible, would squander away your life time savings, and on mei meis. You spent your whole life being a responsible individual, serve your NS to defend your country, they said you cannot be trusted with your life time savings of a few hundred thousand dollars. It would be different if you are in IMH. But no, you are still healthy and employed in very senior and responsible positions in big corporations and institutions.

And the best part, the daft kept quiet and accepted being labelled as daft and irresponsible, and cannot be trusted with their own money by little boys and girls who thought they are really demigods. And these boys and girls are grinning themselves silly at the daft, and laughing all the way to the banks.

And now there are a few boys and girls standing up at Hong Lim trying to defend the pride, honour, dignity and stupidity of the daft. And what did the daft do? They called these boys and girls daft.

And the fake foreigners are flooding into the countries to take up the top jobs, and some daft still thinking they are taking the cheap jobs. And the foreigners are telling the govt or people in MOM they could not find any Sinkies good enough for employment in well paying jobs. And they have to go overseas, especially to their 3rd World villages to hire their Ah Bengs, Ahmads and Aruns to replace our graduates from world ranked universities. And we stupidly keep going back to them to want to hear their explanations and be willingly conned by them, and without knowing that they were telling themselves that these silly people are so easy to be duped.

And to rub salt to the wounds, they brought in fakes to sit on top of our people and order them around and fucking up their careers and lives, and drawing big salaries just to make the Sinkies look daft and believe they are really daft. How’s that for dessert?

And to top it all, we are going to develop our Singaporean core by giving pink ICs to these foreigners and called them Singaporeans to manage us, manage our companies that we built without them, and probably to run our country too in a matter of time.

Why are we so daft and not knowing it? How long are we going to live with this daft reputation and not going to resist it? Anyone passing 55 and not complaining about his CPF money and the reason for not letting him have his money is a daft.
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redbean



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PostPosted: Wed Sep 03, 2014 8:46 am    Post subject: Reply with quote

CPF backed by solid assets
I am just looking at the reasonings given recently that the people have no fear as their CPFs are backed by solid assets of the state. We have land, we have properties, we can also print money, solid like hell. Even if we lose all our CPF money in bad investments, the govt can always find other money to put back or repay the people’s CPF savings. I am not saying that our CPF money has been lost or gambled away. Our CPF money is in SGS bonds, very safe.
This issue crops up because of the reasonings used to assuage the people that they have nothing to worry about. The govt is not broke and have a lot of assets to back up the CPF savings in the reserves, land and properties in the whole island in fact.
So, is the reasoning or logic acceptable? Hypothetically, if a rogue govt and their talented investment managers were to lose the bulk of the reserves/CPF money in the future, they can say, don’t worry, we have a lot of assets that we can sell, liquidate to put back into the CPF, is this assuring?
Money lost is money lost. Taking money from somewhere to cover up the hole means somewhere else has a big hole that needs covering up. If the loss is big, the hole would be just as big. Some big assets must be sold from the pool. This cannot be acceptable.
The reserves/CPF money being managed when lost is lost and digging out money from other pockets cannot be acceptable and not comforting. The money must come from somewhere and when everything is accountable and linked, ultimately the people must pay for it somehow. Yes, the govt has a lot of money, reserves and assets, many times more than the CPF savings. So?
It is just like the public transport system. If it loses money, or more money needed for capital expenditure, or more fines for delays and breakdowns, eventually the commuters will have to pay for them.
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redbean



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PostPosted: Sun Sep 07, 2014 9:54 am    Post subject: Reply with quote

Singaporeans have another stake in this island
It was the govt’s policy to make sure Singaporeans have a stake in this island, at least owning a HDB flat. This was the old govt’s policy. Never mind those Singaporeans that were banned from buying a stake in this city state. Never mind if they have served their NS and still kpkb caused they could not buy a stake in a city state they have pledged and trained to defend. Never mind if foreigners turned new citizens are allowed to buy and have a stake in this island without having to serve NS.
The govt now has created a new stake for all Singaporeans here. The govt is making sure that the citizens will have a lot of money in the CPF, as another stake for them to feel there is something to protect and die for.
Now NS men will have to protect their CPF until their die, maybe 90 or 100 years. The govt has worked it all out to make sure you will always have CPF money, a lot of money, in your CPF account. This is a new stake in addition to your HDB flat.
So for those not allowed to buy HDB flats and claimed that they have no stake in this city state to protect, there you are, now you have a stake in the CPF. You can’t take it all out when you need it at 55, so you better defend it with all your life and not allow anyone to take it away.
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redbean



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PostPosted: Thu Jan 29, 2015 11:10 am    Post subject: Reply with quote

CPF – Silver Brigade beware
When I hit 55, I was informed that my minimum needed to be retained by the CPF was $X. This sum is fixed and would not increase over time or as the years go by. This is quite assuring haven’t decided that leaving a small sum for retirement uses is reasonable, and with half set off by the value of the flat. This does not mean that I agree with the principle that anyone or govt could use the excuse that it is good for you to withhold your savings. This is fundamentally wrong.
Many seniors grudgingly allowed their money to be held in ransom by the CPF and had to squeeze their balls as they have no avenue to fight this policy, at least under this govt. Maybe a change in govt would give them a chance to reverse and get rid of this monstrous logic for good.
Then there was another minimum sum that was not that big then, the Medisave Minimum Sum. I would think that the principle governing retention of the people’s savings in the MS would be the same as the Minimum Sum for the whole savings. This is NOT the case. The MS for the Medisave continues to go up over the years. It does not freeze at the time when a member reaches 55. It keeps growing as and when the CPF choose to be ‘caring’ and decides how much to increase every year.
How can this be the case? Seniors who are still working or self employed would have their contributions transferred to the Medisave MS whenever it is raised. What the shit! Why is this MS allowed to keep increasing over the years? CPF no money? CPF needs more money? Money sucked into this Medisave MS is like entering a dark hole and can be there until one surrenders the IC. It is as good as money not yours except for those who need to use them for approval medical treatments.
I hope all of your can join me to protest against this obnoxious policy of taking our money as and when they like on the pretext of it is good for us. I say bull. Don’t think you can get away with this in the next GE.
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redbean



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PostPosted: Tue Feb 03, 2015 8:36 am    Post subject: Reply with quote

CPF – Why must the people beg for the return of their money?
CPF is the people’s money, a life time of savings. What makes the few elected individuals think they have the right to decide on what to do with the people’s money? Tell us, the people who put their money in the CPF, who are you and what right have you, how clever are you, to keep our money at your fancy, that you know best how much the people can have their money back, and how much to return to the people? WHO ARE YOU? WHAT ARE YOU? Are you God, supernatural, human beans of abnormal intelligence? To me you are just boys and girls who happened to be elected by the blind voters to form the govt. Period. Do not act too smart or smug. You are ordinary like every Sinkie, nothing more, nothing less. Stop behaving and acting like smart asses.
It is high time to stop all the wayang and committees to look into the CPF money and how to keep them and not to return to the people. There is no good reason to keep the money that belongs to the people. Return the money to their rightful owners. It is the right of the people to decide what they want to do with their life savings, to take it all out or to put in the CPF. You just provide the alternatives and the choice is with the owners of the money. No one has the right to dictate to the people on the use of their money. It is NOT your money. Keep your paws away.
I say this to you boys and girls, before you start to think clever, to have bright ideas about other people’s money, ask yourself this question, WHO ARE YOU?
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redbean



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PostPosted: Fri Feb 06, 2015 8:46 am    Post subject: Reply with quote

Medishield Life panacea, now CPF panacea
Or is it Medishield Life panadol, CPF panadol? Another panacea in the making? The committee members are so happy. Hsien Loong is also so happy that he even said the CPF is a good scheme getting gooder, not his exact words. But it is a scheme that is getting betterer and betterer. I can hear champagne bottles popping and corks flying everywhere. A great scheme and a job well done.
Singaporeans are really fortunate to have so many super talents helping to govern the country and to rule them. I am sure the average politicians in the world would not have thought of such great schemes to better the lives of their citizens. The rest of the world must be very envious of Singaporeans and how well their lives are gonna be.
There are so many things to talk and praise about these two great panaceas. I am so excited that I lost the cork of my champagne bottle. It must have flown out of the window. ‘Now where is the cork?’ Just a glimpse of the great stuff in the new approved proposals. How many of you have your salary adjusted for inflation every year? Some may get more with promotions and increments. Only very few did not get any increments. Is there anyone out there where the company gives you a raise to compensate for inflation?
In this proposal, the CPF account holders will have the privilege of their savings being adjusted for inflation so that its value will not be badly affected. There will be a 3% adjustment to the retirement sum, I take this as the minimum sum, to account for inflation and rising household expenditure. Like that it means their income from the CPF when they are eligible to withdraw will always be enough. Whether an account holder gets a raise, no raise, or jobless, he will still have to make up for this 3% adjustment with his CPF savings.
Employers that did not compute an adjustment to the salaries of their employees to account for inflation and rising household expenditure should be put to shame. Maybe this will be the next step the govt will be taking to make it compulsory for employers to do so. What do you think?
I just do not know where to start on this CPF panacea. Let me just touch on those things that were not said, not recommended, but spoken loud and clear by this proposal. One, you are not going to get back your CPF money at 55 that CPF account holders are expecting. And when you get back some, the large portion of your CPF savings would still be stuck in your CPF account. Two, the govt still retains the right to decide how, when and how much of your money you can use. You Do Not have the right to decide on your life savings. Three, many of you may die young, before 55 or 65, sorry, you would not have the pleasure to enjoy your life savings. Four, many of you will leave behind quite a sum of money after you pass on in life in your CPF accounts. And for this, make sure you sign the right form to allow the balance to be taken out in cash by your beneficiaries and not transfer to their CPF accounts unless you so decided. Five, the minimum sums would go up and up, oops, I mean the Medisave Minimum Sum. Six, there will probably be more committees set up to make the CPF even betterer in the future if there is another Roy in Hong Lim.
I am lost for words for the moment. Let me recollect myself and my thoughts before talking about the details and the fine prints. Very tired, really. Am I happy with this new proposal? Or are you happy with this proposal?
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PostPosted: Fri Feb 06, 2015 8:52 am    Post subject: Reply with quote

Phillip Ang – Stand up against PAP’s flawed housing policy
Phillip Ang wrote an article calling for the singles, divorcees and single parents to stand up against the PAP’s flawed housing policies in the TRE. The small issue that I would disagree with Phillip Ang is that Sinkies have this daft habit of being swayed by shifting goal posts. Today someone sells them something for $10, tomorrow the same thing for $100, and the day after for $1,000, the Sinkies will then think $1,000 is acceptable and used it as the new reference point.
The good PAP of the past took the road to the dark side when they changed the housing policy from providing cheap and affordable housing for the people, to give the people a roof over their head, a stake in the country, to paying a ransom for a leased flat that in all counts is owned by the govt. Several unfavourable policies followed suit when the mission was changed.
From affordable housing to market priced housing, to asset enhancement, to not building enough to meet the needs of the people. And now everyone is paying for a hot potato that they believed would only go up in price when the truth is that it would end up worthless at the end of the lease.
And they still did not know why all their life savings are gone? Do I really have to put down the numbers, 1,2 and 3 to show them that all their money that should be sitting in their CPF accounts for retirement has been transferred out because of this change in housing policy?
It is not only the singles, divorcess and the single mothers that should be standing up to this flawed housing policy. Everyone should be standing up to it, for paying for something at so called market prices that made them feel rich when it is just an illusion, a transient thing, with a zero bottom line and the depletion of their life savings.
Can see this or not?
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PostPosted: Tue Feb 10, 2015 8:31 am    Post subject: Reply with quote

CPF – I want to defer my withdrawal to age 90
One of the major recommendations by the CPF Review Committee is to encourage withdrawal of CPF savings to age 70. The assumption is that people live longer and many will live past 85. This is a fair recommendation, not sure about the assumption. If one has 15 more years to live, it is logical and reasonable to hold back CPF withdrawals till age 70 or even more. There is also the assumption that one would be hopping around like a young man/woman and needing all the more to fool around, to enjoy life to the fullest. Those senior seniors would be swinging around instead of sitting in a wheelchair and eating only porridge and nothing else.
To cut the matter short, I would like to delay my withdrawal to age 90, if only someone with the authority and ability to tell me that I will still be living at 100. Anyone out there can to this, can tell with 100% or 99% certainty that I can live that long?
I am quite certain that 30% would probably die at 60, another 30% by 70 and by 80 probably 90% would have gone to the maker. So, what is the point of delaying your withdrawal to 70 or 90 when many would have kicked the bucket by 70?
Yes, tell me that I can live to 100 and I will have to consider keeping my CPF money till 90 before withdrawing. Fair?
As for the statistical truth of more people living to 85 and older, this is a general statement. Maybe the govt can help to fine tune the probabilities. There is no point having a few hundred thousand in your CPF savings when you are dead at 60, 65 or 70. There is no point even if you live for another 5 years with a few hundred thousand in your CPF. There is no point to have a few hundred thousand when you are 80 or 90 when all you can do is to sit in a wheelchair and stare at the walls, and unable to do anything.
So, a fine tuning agency to help the people to determine how long more they will live past 70 would be useful. At least it can narrow down the odds medically. And the oldies can seek a second opinion with the spiritual source or fortune tellers to confirm their life expectancies. With these two data, the probabilities would be higher and more meaningful to leave the money in the CPF and to be able to enjoy the lifetime savings.
Pity would be those who struggled and saved for a lifetime but not able to spend a single cent of their savings. Who is a better god to bet whether a person would live past 70 or would die before that? Perhaps another insurance scheme would come in handy for people to withdraw their money at 55 and place a bet that they would live longer and covered by this over 70 years insurance. At least the seniors could spend their money in their 60s, and if things turn out so bad that they would have another 20 years to go, the insurance could provide for the remaining years in bed or in wheelchair. The sum need not be too high, no need a few hundred thousand except for those who refuse to die and want to live forever.
Good suggestion or not? Can tell me how long would I live?
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redbean



Joined: 07 Mar 2006
Posts: 13856
Location: singapore

PostPosted: Sat Mar 07, 2015 9:09 am    Post subject: Reply with quote

CPF is an idiot proof retirement scheme
I am inspired, truly inspired, by what the leaders in the PAP Women’s Wing said about putting more money into the CPF for the wives. On first impression it sounded silly, and I thought so too, until I put on my thinking cap and realised how brilliant it is. I cannot blame those people who are so angry with all the things that are happening to the CPF Scheme and their money that is being transformed into not their money in many ways. It is a good lesson to learn. Once you put your money into someone else pocket, you might as well forget it.
Let me explain why the suggestion to put more money into the wives CPF accounts and why I called the CPF Scheme an idiot proof scheme make sense. I am sure all of you understand the meaning of idiot proof. It means it is safe even in the hands of an idiot. So, if one is an idiot, put your money in the CPF is absolutely safe. For there is this very caring and clever govt always there to look after your money and make sure it will be there for the rest of your life and with a lot to spare even after you passed away. In other words, your money cannot finish even after you are finished.
Other than the idiots, people that are prone to gamble away their money, people that are irresponsible with their money, stupid people that could easily be conned of their money, or anyone that does not know how to manage his money, the idiot proof CPF Scheme is the safest. Put your money there and it is guaranteed that the money would always be there, paying good interest rates some more.
And don’t forget about putting more money into the wives accounts too as recommended by the PAP Women’s Wing. The money would also be safe there in the wives’ accounts. But before doing that, remember to ask a few questions or the wives will kill you. Check if your wife is an idiot. Check if your wife is a gambler. Check if your wife is irresponsible or careless with money. Check if you can trust your wife if you give her good money in cash. If all the answers are yes and the last answer is no, then put whatever money you want to give to your wife into the CPF. Then you can feel very safe with the money and your wife not squandering it away.
Now you understand why this idiot proof CPF Scheme is an ideal scheme? Over to you wives.
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redbean



Joined: 07 Mar 2006
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Location: singapore

PostPosted: Thu Mar 12, 2015 9:18 am    Post subject: Reply with quote

Chuan Jin planning your retirement with your money
Chuan Jin has come up with a comprehensive plan or several plans for the retirees or impending retirees on how to retire and how much they would need. And your retirement plans and needs would be presented to you by the girl sitting across the table at the CPF, or is it at MOM? She would know exactly your retirement needs that you did not know after spending more than 50 years of your life living and working.
The girl across the table would know of your family background, your savings all over the place, including those under your bed, your children and probably even the number of mistresses you have and the number of children by them. How nice. She must have kept a good track record of your life or is it the CPF?
How many PMEs did not know how to plan their retirement and how much money they need and require the expertise of the girl across the table who met them for the first time in their life? If the girl knows, how come the PMEs did not know?
Actually not like that lah. The girl only knows how much you have in the CPF and how much you can take out and how many options available to you. Initially I thought how come got so clever girl that can help everyone with their retirement plans. With the high level of education of the younger generations, not the lost generations of illiterates, many would be better educated than the girl across the table or know much more than what she knows about retirement needs. No?
Can I plan my own retirement with my own money? Do I need someone else to plan my retirement with my money? Can I have all my money back? Oops, at 55 or 65, the mental faculty is not so good and the thinking also not so clear. Now, is it my money or not my money? Only young girls with a clear mind would know. The oldies and CPF members would not know.
Maybe I should ask Chuan Jin. He must know.
Did anyone ask Chuan Jin to plan their retirement with their money? Did anyone elect a govt to plan their retirement with their money? I know I did not and would not.
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