View Full Version : CPF board raises its minimum sum to $155k
princess_morbucks
08-05-14, 10:47
http://www.businesstimes.com.sg/breaking-news/singapore/singapore-raises-cpf-minimum-sum-meet-retirement-needs-20140508
The Ministry of Manpower (MOM) and CPF Board jointly announced on Thursday that the CPF Minimum Sum has been increased to S$155,000 to account for inflation.
This will apply to CPF members who turn 55 between July 1 this year and June 30 next year.
This will be set aside in their Retirement Account using savings from their Special, and then Ordinary Accounts.
The minimum sum for members who turn 55 before July 1 this year remains unchanged.
Thermofisher
08-05-14, 10:54
OMG!!!:(
10char
princess_morbucks
08-05-14, 11:04
http://www.todayonline.com/singapore/cpf-minimum-sum-rise-s155k-july
SINGAPORE — The CPF Minimum Sum will rise to S$155,000 on July 1 next month, the CPF Board and the Ministry of Manpower announced in a statement today (May 8).
This new Minimum Sum will apply to CPF members who turn 55 between 1 July 2014 and 30 June 2015.
The statement added that the Minimum Sum increases over time to account for inflation in order to maintain its real value.
The Medisave Minimum Sum will also be raised to S$43,500 from S$40,500, while the Medisave Contribution Ceiling will be increased correspondingly to S$48,500, from S$45,500.
thomastansb
08-05-14, 11:06
Moving goal post. This minimum sum sucks. Everyone dies.
thomastansb
08-05-14, 11:08
Worse than ponzi.
You have a choice in ponzi. You can choose not to invest.
ponzi..........
But with that sum at age 55years, CPF Life pays $1200 per mth for life which is more than 9% "interest" pa...a pretty good deal, isn't it?
Someone must be burning another big hole some where ... olam ? Watson ? Hpt ?
They lose we suffer. They make, we also suffer.. ;-(
But with that sum at age 55years, CPF Life pays $1200 per mth for life which is more than 9% "interest" pa...a pretty good deal, isn't it?
Depends on how long you live. If return IC 5 years after payout, at most get 45% back.
But with that sum at age 55years, CPF Life pays $1200 per mth for life which is more than 9% "interest" pa...a pretty good deal, isn't it?
The payout only start from one's 65 birthday onwards. So still got 10yrs no payout :D
MS increased this year at 4.7%.
Medisave Ceiling increased at 5.5%.
Altogether lock up $6000 more in CPF before you can use to service property. More woes...
thomastansb
08-05-14, 12:31
You get back the remaining 55%. So ok la. But we should be able to choose what we want to use the money for.
Depends on how long you live. If return IC 5 years after payout, at most get 45% back.
MS increased this year at 4.7%.
Medisave Ceiling increased at 5.5%.
Altogether lock up $6000 more in CPF before you can use to service property. More woes...
Sorry error in calculations. Medisave Ceiling is increased at 6.6%. Total lockup is $6500 more.
$1200 pm is already more than the min wage and without kids to feed and raise!
So why still need to raise min sum? :rolleyes:
Or are they telling us that min wage of $1000 pm is grossly insufficient to survive in Singapore? :beats-me-man:
But with that sum at age 55years, CPF Life pays $1200 per mth for life which is more than 9% "interest" pa...a pretty good deal, isn't it?
This is grossly unfair.. democracy is let us choose how much to put in annuity since they said is so good... byvthe way... all the ministers do NOT subscribe to this annuiry scheme as they are pensionable. .
cpf min sum is another scheme for them to get cheap $ to gamble at our expense. :-(
ponzi..........
There are still a lot of people in love with CPF and it's OA, SRS, SA etc etc.
Got people put more money into the SA and SRS voluntarily too and some max out the account for the tax savings and retirement planning.
I can never understand why. But I guess they have full faith in the system.
This is grossly unfair.. democracy is let us choose how much to put in annuity since they said is so good... byvthe way... all the ministers do NOT subscribe to this annuiry scheme as they are pensionable. .
cpf min sum is another scheme for them to get cheap $ to gamble at our expense. :-(
This is another sacred cow that needs to be slaughtered.
If I understand it correctly, Pension was designed to recognise the effort of civil servants for their contribution to the country during a time when they were not pay the MARKET Rate of the Top 5-10%(is it?) of the private sector. This was also another way for them to do the right thing to be able to earn that pension during retirement.
With the implementation of pegging administrative service and ministers to the top tier of private market pay, I don't see how pension can still be allowed.
phantom_opera
08-05-14, 17:54
$1200 pm is already more than the min wage and without kids to feed and raise!
So why still need to raise min sum? :rolleyes:
Or are they telling us that min wage of $1000 pm is grossly insufficient to survive in Singapore? :beats-me-man:
good one !!
I suggest they have an option to let us be Temasek / GIC shareholder ... :p
e.g. 30% min sum at age 55 invest in Temasek, 20% GIC, the rest annuity, based on NAV of course (they can keep it secret ... 10y later sell also secret), for 10y our super investors Temasek and GIC should be able to make something like 10%pa right?
ha ha ha ha
phantom_opera
08-05-14, 17:55
There are still a lot of people in love with CPF and it's OA, SRS, SA etc etc.
Got people put more money into the SA and SRS voluntarily too and some max out the account for the tax savings and retirement planning.
I can never understand why. But I guess they have full faith in the system.
because avg GDP growth is going to be much much much lower than 4% in the next 20y
Glad I have the option of not having CPF contributions in my job so that my money is not locked up...
But govt will prob say to detractors that the regular increase in minimum sum is to offset inflation...
if I remember correctly 50% of min sum can be pledge with property. so effectively ordinary acct only need 75K.
There are still a lot of people in love with CPF and it's OA, SRS, SA etc etc.
Got people put more money into the SA and SRS voluntarily too and some max out the account for the tax savings and retirement planning.
I can never understand why. But I guess they have full faith in the system.
I stand by SRS. Its a very useful too.
if I remember correctly 50% of min sum can be pledge with property. so effectively ordinary acct only need 75K.
Yes, only half minimum sum needed and it can be from SA plus OA so one can just transfer money into SA from OA for it to earn 4% to help keep up with the minimum sum increase. Can then use OA for property etc if SA is enough as anyway, SA cannot be touched till retirement.
So will they increase the min wage for cleaners, security guards etc EVERY YEAR to offset inflation? :beats-me-man:
Glad I have the option of not having CPF contributions in my job so that my money is not locked up...
But govt will prob say to detractors that the regular increase in minimum sum is to offset inflation...
Do you have medisave?
In addition to the min sum of $155,000 from OA & SA, most (if not all) there is still another $45,000 stuck in medisave which you can't take out, that makes the total $200,000 per person stuck in CPF that they can't take out..............
Assuming we have 4 MILLION adults with CPF accounts, each $200,000, that will make the total stuck there = $800,000,000,000 or $800 BILLIONS! :scared-1:
Glad I have the option of not having CPF contributions in my job so that my money is not locked up...
But govt will prob say to detractors that the regular increase in minimum sum is to offset inflation...
princess_morbucks
09-05-14, 13:07
Do you have medisave?
In addition to the min sum of $155,000 from OA & SA, most (if not all) there is still another $45,000 stuck in medisave which you can't take out, that makes the total $200,000 per person stuck in CPF that they can't take out..............
Assuming we have 4 MILLION adults with CPF accounts, each $200,000, that will make the total stuck there = $800,000,000,000 or $800 BILLIONS! :scared-1:
I believe she has medisave.
Medisave contribution is mandatory for self employed.
Do you have medisave?
In addition to the min sum of $155,000 from OA & SA, most (if not all) there is still another $45,000 stuck in medisave which you can't take out, that makes the total $200,000 per person stuck in CPF that they can't take out..............
Assuming we have 4 MILLION adults with CPF accounts, each $200,000, that will make the total stuck there = $800,000,000,000 or $800 BILLIONS! :scared-1:
Some believe that CPF is a Ponzi scheme and that the recent sharp increase in minimum sum is to compensate for investment losses as Temasek, our reserves and CPF are not very clearly distinguished and may be the same thing.
Some believe that CPF is a Ponzi scheme and that the recent sharp increase in minimum sum is to compensate for investment losses as Temasek, our reserves and CPF are not very clearly distinguished and may be the same thing.
Fact and figure please, lot of believe everywhere don't be one of them.
Do you believe Bank create money.
Can't really say this way without evidence and facts.
However, it is surprising that with $155,000 + $45,000 = $200,000 person, isn't it enough for some old man/lady to survive for 20 years? Why need to keep increasing min sum for retirement account and medisave account?
If not enough, then how can min wage of $1000 per month be enough for an adult who have to raise children and support old parents? :scared-1:
Some believe that CPF is a Ponzi scheme and that the recent sharp increase in minimum sum is to compensate for investment losses as Temasek, our reserves and CPF are not very clearly distinguished and may be the same thing.
Can't really say this way without evidence and facts.
However, it is surprising that with $155,000 + $45,000 = $200,000 person, isn't it enough for some old man/lady to survive for 20 years? Why need to keep increasing min sum for retirement account and medisave account?
If not enough, then how can min wage of $1000 per month be enough for an adult who have to raise children and support old parents? :scared-1:
Actually, in Sg, with inflation and if no children and no savings, may not be enough.
CPF min sum $200k still not enough means min wage also way too low? :scared-1:
Think they should peg CPF min sum increase to min wage increase to be more consistent in their policy??????????????????? :p
Actually, if you exclude housing and you don't need to support anybody else except yourself, $1000 per month for food and basic necessity is actually enough. It is not enough because of GST (which is expect to keep increasing and hence $1000 per month that is enough now become grossly insufficient 20 years down the road)? :scared-3:
Actually, in Sg, with inflation and if no children and no savings, may not be enough.
http://www.condosingapore.com/forums/showthread.php?t=17656
May last year also cpf increase.
http://www.condosingapore.com/forums/showpost.php?p=396267&postcount=71
My view on working versus non-working age.
I find this govt is chicken, dont want to have difficult conversation with the citizens, I prefer straight talk 1st gen pap govt.
I read this somewhere and I agree.
Cpf is a ponzi. But a bigger myth is you can retire for years without any economic output.
You can save money.
But u cannot save goods, u cannot save energy, you cannot save services now so thar u can spend later.
Last time, in agricultural society, u can retire only if ur children can support. If children cannot support, u either continue to work or die.
Nowadays, peopls want to retire early and use their pension/cpf to exchange their paper money for real goods, real energy and real services.
this can work for a while if population is increasing.
but the current demographics (ferility 1.2) will ensure th sooner rather later, there will be more non-productive retirees than productive young.
Using farming again, last time, 2 adults can grow enough rice to feed themselves, 2 aged and 2 kids.
with declining fertility and aging sociery, the same 2 adults are supposed to grow enough rice to feed 4 aged peopel and 1 kid.
When theere is no surplus rice, the 2 working adults will tell the 4 old people, there is not enough to feed you, your money/cpf is not good. Either the 4 retirees work to grow rice (end of retirement) or they died,
The real problem facing singapore is the demographics, the declining birth rate and aging society. We singaporeans are sowing the seeds of our own destruction.
Unless you can store electricity, food, services now so that u can consume later, u need to depend on the working people to provide electricity, food, services in the future.
When resouces are scarce, less young, more old, you can safely bet ur cpf money is not evr going to be enough, you continue to work or u die.,
ur claims to cpf are simply not good.
You can save money.
but u cannot live on money.
u need to convert these money for goods and services.
Govt is printing infinite money, but they cannot print goods snd services.
So when there is not enough young to provide goods and services for themselves, not to mention the retirees. The young will tell the elderly, your money is no good.
Gtow ur own food
what will u exchanges with me for this sack of tice.
People live longer. Demand for goods and services are higher.
less young, supplier of goods and services are lesser.
What haapens when demand > supply?
Price up.
Ageing society is one reason why ur cpf min sum is being raised.
Woman, do ur NS duty. 2 kids in 2 years :)
One more thing, last people take care of own parent retirees.
using cpf as a collective pension scheme, the decreasing number of youth is expected to take care of OTHER peoples' s parents????
phantom_opera
09-05-14, 16:04
u can hedge future energy price hike
u can go to Malaysia buy some oil palm lands ... no need to do anything just outsource to someone to manage
if in the future oil price is 10x of now, your oil palm land / production will huat 20x :2cents:
I guess this is what Jim Roger is talking about ... in the future bankers will work for farmers (resource owners)
back to the min sum, the amount (155k) is so small to the upper middle class & the rich that it is not worth talking about .. in fact some happily do voluntary contribution to get some tax rebate, treating it like a 20y bond
Japan GPIF return only 2% ... but inflation is zero ... :)
frankly transfering 75K from Ordinary and 45K in Special acct to a retirement acct and get paid for life is a good deal.
sine the 1st 75K most people pledge their HDB home as collateral.
If the payment $1200 pm from CPF life then 8 yrs take back. after that are all upside. ok what?
For those who never plan mis plan this will be a life save. for those who did this is a extra pocket $.
if I remember correctly 50% of min sum can be pledge with property. so effectively ordinary acct only need 75K.
Be careful!
If you have S$155K in your CPF OA+SA, ALL of them will be locked up when you reach 55. (OK, you can withdraw S$5k.)
https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/wdl_cal2.asp
If you have less than S$155K, your property will be locked up as well (CPF Board will have the first claim.)
Thanks,
Richard
You need to have more than S$155K + S$$43.5K = S$198.5K
in order to withdraw cash.
https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/wdl_assumption.asp
Patrickstar
09-05-14, 23:01
singaporeans paying for pty using cpf is the most stupid thing. I don't think they know that the accrued interest works against them coz they are effectively paying their own interest n the govt can save money.
singaporeans paying for pty using cpf is the most stupid thing. I don't think they know that the accrued interest works against them coz they are effectively paying their own interest n the govt can save money.
Just asking. If you never sell the property, how would the accrued interest affect you?
Fact and figure please, lot of believe everywhere don't be one of them.
Do you believe Bank create money.
Someone in HWZ quoted Dr Toh Chin Chye as saying the CPF is basically a loan to our govt. Another had a source from govt website as saying GIC liabilities to CPF. So I believe the abnormal high rate of increase of minimum sum exceeding the inflation rate is to compensate for the billions in losses by GIC.
Each of us $200k struck im cpf.. tat a lot lot of $$ for swf to lose. Thinky grandmother or monkeys can manage those funds better. Disappointed tat not a single mp make noise on rationale n inflation claims etc. . Sigh....
Each of us $200k struck im cpf.. tat a lot lot of $$ for swf to lose. Thinky grandmother or monkeys can manage those funds better. Disappointed tat not a single mp make noise on rationale n inflation claims etc. . Sigh....
And is the CPF Life payout even guaranteed. Some say it is not...thank God I do not have CPF contributions now...better to depend on ourselve for our retirement...
I have 2 MP friends, one is Janil, my senior when I did Paeds and the other Sim Ann , my GEP classmate and supposedly one of the brains behind operation open FT floodgate. But with the PAP whip, how to ask them to raise it up?
1. Does employer contribute to CPF???
2. Does it mean additional amount to you???
3. Can you encash it out through rental??? - if you scared... Hahaha
4. At the same time you scared you lose out on interest:confused:
5. Can you use the amount to pay for properties???
6. Can you use the amount for shares investment??
NorthernStar
10-05-14, 07:06
Someone in HWZ quoted Dr Toh Chin Chye as saying the CPF is basically a loan to our govt. Another had a source from govt website as saying GIC liabilities to CPF. So I believe the abnormal high rate of increase of minimum sum exceeding the inflation rate is to compensate for the billions in losses by GIC.
quite surprise that ppl actually don know the cpf increase was planed since 2003 and will last till 2015.
http://mycpf.cpf.gov.sg/Members/CPFSchemes/MinimumSumScheme.htm
Be careful!
If you have S$155K in your CPF OA+SA, ALL of them will be locked up when you reach 55. (OK, you can withdraw S$5k.)
https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/wdl_cal2.asp
If you have less than S$155K, your property will be locked up as well (CPF Board will have the first claim.)
Thanks,
Richard
well 75K in OA acct and 75K pledge from own prop which is my roof which have no intention to sell and 45K from SA acct. so infact is 75K + 45K right? and with a drawn down of 1200pm. 8yrs is all it takes to take back and the rest of the years are upside.
quite surprise that ppl actually don know the cpf increase was planed since 2003 and will last till 2015.
http://mycpf.cpf.gov.sg/Members/CPFSchemes/MinimumSumScheme.htm
But if you look carefully at the figures, there was a sharp increment to 11k from about 5k in 2009 and to about 8k after 2009. I do not believe it is totally an inflation adjustment only.
The drawdown age is also increasing and dunno what it will be by my age and I am sure after 2015 the minimum sum will only increase and prob by more now with CPF Life. The payout is also not guaranteed but depends on the boards's undisclosed calculation methods right?
The CPF has slow lost many people's trust like what Dr Toh Chin Chye said. Even my own family members losing their trust though used to be staunch PAP supporters.
Even Lim Swee Say was quoted as saying CPF if still around in one of his speeches.
Essentially, it is a 20% " tax" on yr income this system which is used to partly to fund yrs and others retirement.
i think if you take the 75k pledge amount out then the drawn down 1200pm will also be reduced accordingly. I am not too sure how it works but I did enquire at cpf earlier.
SA is very hardworking.. been visiting her ward every now n then trying to feel the ground etc.. hope she will be more like lily neo or tancb instead of following the line.
during the mtp session, one of my friend went to see her with some problems. Was told she tried but followed up was rather lacking.... so.. no comments. ... ;-)
i think if you take the 75k pledge amount out then the drawn down 1200pm will also be reduced accordingly. I am not too sure how it works but I did enquire at cpf earlier.
This is an important point to note.
Many will also not be able to meet the minimum sum at this rate. Even a friend of mine is lamenting that she has difficulty even without buying any property.
CPF Life is a carrot by PAP as elections are coming....with the way they introduce changes yearly at a mind boggling rate that it is difficult even for me to keep up what more the elderly...we must really think carefully who we vote. After WP is given more seats, there have been positive changes. I believe too much money is at stake.
SA is very hardworking.. been visiting her ward every now n then trying to feel the ground etc.. hope she will be more like lily neo or tancb instead of following the line.
during the mtp session, one of my friend went to see her with some problems. Was told she tried but followed up was rather lacking.... so.. no comments. ... ;-)
She is a President Scholar. When we were young, we used to joke she will be a future PM if Singapore and now she is rising fast.
https://sg.finance.yahoo.com/news/ever-cpf-money-cpf-raises-160000190.html
Coming from finance / banking industry, I must say CPF is one of the best systems designed. I can see many laymen not understanding the benefits of it, but I find it hard to comprehend so many well educated ppl in this forum disputing the merits of it.
Think CPF contribution as a tax but in the form of a loan to gov. And you can borrow against this loan to fund your property and even stocks investment (when you "use your CPF money" you are just doing this). Your CPF fund is a bit like perp bond issued to gov where gov is obliged to deliver you a 2.5% or 4% return.
Minimum sum and etc is inevitable and will raise every year , especially to suit CPF Life, where your loan to gov truly become perp bond. Gov is buying the whole population an annuity plan, much much better than individual insurance companies cheating individuals with their annuity offerings. Gov is taking on this liability for you.
I dun wish to sound like a PAP "fan". Strictly from commercial perspective, this CPF system is the best system we can get from PAP, it ranks higher than HDB in my opinion. The other flip side of this system is that the gov has a stable and cheap funding ( yes cheap funding) from all of us. This actually ensures the gov can have a healthy operating fiscal environment, that does not subject to mkt risk. This is very important for a city state. All we have is a trust from the market. S$ is worth this much because market believe we dun have a deficit problem.
And structurally speaking, how to take care of retirement, our CPF system is much better than others. Western world is basically doing borrowing more and more now to balloon the current budget, and therefore increase future liabilities. That is now proven to be not sustainable. Ours is not perfect, but it is a better approach. At least it is self running. It ensures the majority of the ppl (I.e., who has a decent job over his life) can have a decent retirement. And it instills the concept that you are still responsible for your own retirement.
Many say "I can do it better myself". Sure, but you are obliged to help others by pooling your 20%. This is what this SG passport means. That also means it will not get as high as return as you would do it yourself, but you help to make this country to have a better deal on the population , and the fiscal position, which in turn ensures your password and S$ worth something.
Many poor old folks just hate the idea "I can't take CPF after x yrs". but I know many of them who take the money, and splurge on KTV chinameimeis. To them, this is LIFE for them, for once to indulge. Whatever after, "who cares, somehow gov will take care of me"
But if you look carefully at the figures, there was a sharp increment to 11k from about 5k in 2009 and to about 8k after 2009. I do not believe it is totally an inflation adjustment only.
The drawdown age is also increasing and dunno what it will be by my age and I am sure after 2015 the minimum sum will only increase and prob by more now with CPF Life. The payout is also not guaranteed but depends on the boards's undisclosed calculation methods right?
The CPF has slow lost many people's trust like what Dr Toh Chin Chye said. Even my own family members losing their trust though used to be staunch PAP supporters.
Even Lim Swee Say was quoted as saying CPF if still around in one of his speeches.
Essentially, it is a 20% " tax" on yr income this system which is used to partly to fund yrs and others retirement.
the other option is pay a flat 45% tax to fund other people retirement too. and I think there are many speculation on where the $ go or increase. but to be fair people expectation on retirement will only continue to grow.
if I remember correctly 50% of min sum can be pledge with property. so effectively ordinary acct only need 75K.
I have received a letter from the CPF Board. Min sum set aside is $148k, to be transferred to RA. It never pledge with my property leh, how to pledge it?
The amount that allowed me to withdraw is so little that is just enough for my family's tour.:sleep:
I have received a letter from the CPF Board. Min sum set aside is $148k, to be transferred to RA. It never pledge with my property leh, how to pledge it?
give them a call...
http://mycpf.cpf.gov.sg/NR/rdonlyres/BE34B9AE-9766-415E-B931-9BCA9525313A/0/MSSPropertyPledge.pdf
$1200 pm is already more than the min wage and without kids to feed and raise!
So why still need to raise min sum? :rolleyes:
Or are they telling us that min wage of $1000 pm is grossly insufficient to survive in Singapore? :beats-me-man:
If I remember correctly, was it mentioned earlier that a person with $1000 income can afford to buy a HDB flat?
give them a call...
http://mycpf.cpf.gov.sg/NR/rdonlyres/BE34B9AE-9766-415E-B931-9BCA9525313A/0/MSSPropertyPledge.pdf
Thanks, as it mentioned, it will pledge automatically but why mine is not pledged, funny leh.:confused:
Thanks, as it mentioned, it will pledge automatically but why mine is not pledged, funny leh.:confused:
I believe it is only pledged if you do not have enough money in your cpf to meet the MS.
I have received a letter from the CPF Board. Min sum set aside is $148k, to be transferred to RA. It never pledge with my property leh, how to pledge it?
Mine was at $139k :D
did not pledged property also as mostly paid by cash
Many say "I can do it better myself". Sure, but you are obliged to help others by pooling your 20%. This is what this SG passport means. That also means it will not get as high as return as you would do it yourself, but you help to make this country to have a better deal on the population , and the fiscal position, which in turn ensures your password and S$ worth something.
Many poor old folks just hate the idea "I can't take CPF after x yrs". but I know many of them who take the money, and splurge on KTV chinameimeis. To them, this is LIFE for them, for once to indulge. Whatever after, "who cares, somehow gov will take care of me"
For those who know how to manage their money, of course they hope to withdraw because money generate money, maybe even better than CPF interest rate.
For those who do not know how to manage their money, it is better to leave it in the CPF board so that when these group of people get older, there is still some allowance in hand.
But it is human nature that people want to see the money in their hands, because most people can't see the high interest that CPF Board is giving. Maybe allow people have a choice, either to draw out their interest monthly, half-yearly or yearly or leave the interest in the CPF Board to earn extra interest, just like putting a fixed deposit in the bank, draw out the interest and renew the principle amt or renew the interest + principle amt.
Mine was at $139k :D
did not pledged property also as mostly paid by cash
You mean your min sum is $139k, so you are earlier than me:ashamed1: Do you think CPF Board will increase our min sum later on? Actually I only used $100k+ from my CPF plus some cash to pay my ppty, my spouse pay the rest:D
NorthernStar
10-05-14, 12:04
But if you look carefully at the figures, there was a sharp increment to 11k from about 5k in 2009 and to about 8k after 2009. I do not believe it is totally an inflation adjustment only.
The drawdown age is also increasing and dunno what it will be by my age and I am sure after 2015 the minimum sum will only increase and prob by more now with CPF Life. The payout is also not guaranteed but depends on the boards's undisclosed calculation methods right?
The CPF has slow lost many people's trust like what Dr Toh Chin Chye said. Even my own family members losing their trust though used to be staunch PAP supporters.
Even Lim Swee Say was quoted as saying CPF if still around in one of his speeches.
Essentially, it is a 20% " tax" on yr income this system which is used to partly to fund yrs and others retirement.
http://www.indexmundi.com/singapore/inflation_rate_(consumer_prices).html
it is very easy to find inflation rate thru these years. inflation in 2008 was reported 6.6%. if u multiply $106k cum the intended increase of 4000 with 6.6%, u should get the figure of ~117k.
Agree 105%
:cheers1::cheers1::cheers1:
Coming from finance / banking industry, I must say CPF is one of the best systems designed. I can see many laymen not understanding the benefits of it, but I find it hard to comprehend so many well educated ppl in this forum disputing the merits of it.
Think CPF contribution as a tax but in the form of a loan to gov. And you can borrow against this loan to fund your property and even stocks investment (when you "use your CPF money" you are just doing this). Your CPF fund is a bit like perp bond issued to gov where gov is obliged to deliver you a 2.5% or 4% return.
Minimum sum and etc is inevitable and will raise every year , especially to suit CPF Life, where your loan to gov truly become perp bond. Gov is buying the whole population an annuity plan, much much better than individual insurance companies cheating individuals with their annuity offerings. Gov is taking on this liability for you.
I dun wish to sound like a PAP "fan". Strictly from commercial perspective, this CPF system is the best system we can get from PAP, it ranks higher than HDB in my opinion. The other flip side of this system is that the gov has a stable and cheap funding ( yes cheap funding) from all of us. This actually ensures the gov can have a healthy operating fiscal environment, that does not subject to mkt risk. This is very important for a city state. All we have is a trust from the market. S$ is worth this much because market believe we dun have a deficit problem.
You mean your min sum is $139k or you are allowed to withdraw $139k? Actually I only used $100k+ from my CPF plus some cash to pay my ppty, my spouse pay the rest:D
My MS then was at $139K
recently sold 1 property in Nusa Jaya area
recalling funds to go for 1 last Hooray(property) in Singapore :D
My MS then was at $139K
recently sold 1 property in Nusa Jaya area
recalling funds to go for 1 last Hooray(property) in Singapore :D
Just went panorama.... Considering it and most likely will place a cheque... Hahahahaha
Just went panorama.... Considering it and most likely will place a cheque... Hahahahaha
Bro
I am waiting
will be my last purchase as loan draw down period getting shorter
(preferably a 4bedder for own stay)
NorthernStar
10-05-14, 12:16
'like' amk's view on CPF.
imo, CPF is cater for overall population for the interests of the country. if i think i can generate 10% return, i withdraw it..what hapen if i failed on saving my retirement fund? can gov ignore these so called smart people who eventually failed? it will still back to a social problem to the country.
Bro
I am waiting
will be my last purchase as loan draw down period getting shorter
(preferably a 4bedder for own stay)
Bro, you will realized the pot getting bigger from the rental....
Always maximize loan tenure for investment props as can write down on tax...
Wish u good luck bro....:D
Now we r still comfortable with the amt as it was set in 2003 80k adjusted for inflation till 2015 for a few hundred a mth payout and BEFORE CPF Life is conceived. Now with CPF Life, rest assure it will increase much much much more in the years to come after the elections. Many will not be able to meet it and will have to downgrade to studio flats and work till death as payout amt is not even guaranteed is it?
To be fair, have to admit that CPF system in its current form is better the Western system............. :cheers4:
And structurally speaking, how to take care of retirement, our CPF system is much better than others. Western world is basically doing borrowing more and more now to balloon the current budget, and therefore increase future liabilities. That is now proven to be not sustainable. Ours is not perfect, but it is a better approach. At least it is self running. It ensures the majority of the ppl (I.e., who has a decent job over his life) can have a decent retirement. And it instills the concept that you are still responsible for your own retirement.
Many say "I can do it better myself". Sure, but you are obliged to help others by pooling your 20%. This is what this SG passport means. That also means it will not get as high as return as you would do it yourself, but you help to make this country to have a better deal on the population , and the fiscal position, which in turn ensures your password and S$ worth something.
Many poor old folks just hate the idea "I can't take CPF after x yrs". but I know many of them who take the money, and splurge on KTV chinameimeis. To them, this is LIFE for them, for once to indulge. Whatever after, "who cares, somehow gov will take care of me"
Now we r still comfortable with the amt as it was set in 2003 80k adjusted for inflation till 2015 for a few hundred a mth payout and BEFORE CPF Life is conceived. Now with CPF Life, rest assure it will increase much much much more in the years to come after the elections. Many will not be able to meet it and will have to downgrade to studio flats and work till death as payout amt is not even guaranteed is it?
Which other country has a better system????
I am not saying it is a bad system but I believe it can be tweaked as it favours the rich over the poor. There is no minimum wage for them and they have yo contribute 20% which is a disproportionate amt leaving them with very little takehome pay. Most here in this forum are quite well to do but how about the less fortunate Singaporeans. I think Sg is still too pro rich and the poor is just left to work till they die which is not what s first world country should be imo. They toiled to build up Sg and still have to work in their old age...I really pity them.
I am not saying it is a bad system but I believe it can be tweaked as it favours the rich over the poor. There is no minimum wage for them and they have yo contribute 20% which is a disproportionate amt leaving them with very little takehome pay. Most here in this forum are quite well to do but how about the less fortunate Singaporeans. I think Sg is still too pro rich and the poor is just left to work till they die which is not what s first world country should be imo. They toiled to build up Sg and still have to work in their old age...I really pity them.
Again, which first world system is better then ours????
The only way out is to tax @ > 40%.
The employer also pay leh....:cheers1:
i read cpf buy sgs bonds.
yet cpf rates to cpf holders are higher than the income received from sgs bonds.
the shortfall to cpf comes from where?
i am wondering why govt cannot increase the CPF rates to match inflation in addition to increasing the minimum sum.
if you raise retirement age, then wouldnt you need less cpf ?
to take it further, if you eliminate retirement, work until die, then you wouldn't need cpf at all.
also there is no demographic problem or ageing problem, since the only dependents left are the young and not the aged.
....They toiled to build up Sg and still have to work in their old age...I really pity them.
somebodies has to pay for the doubling of your salary :)
i read cpf buy sgs bonds.
yet cpf rates to cpf holders are higher than the income received from sgs bonds.
the shortfall to cpf comes from where?
i am wondering why govt cannot increase the CPF rates to match inflation in addition to increasing the minimum sum.
if you raise retirement age, then wouldnt you need less cpf ?
to take it further, if you eliminate retirement, work until die, then you wouldn't need cpf at all.
also there is no demographic problem or ageing problem, since the only dependents left are the young and not the aged.
Not everyone is blessed to be able to work till 67... Health issues come into play...
Look at indo, once you above 60, there are many young ones waiting in line wanting your job.... The jobless rate is so high...
somebodies has to pay for the doubling of your salary :)
No lah, actually salary did not double...as I cannot work such long hrs only 25% or so increase lah...I was a bit overly exuberant...
No lah, actually salary did not double...as I cannot work such long hrs only 25% or so increase lah...I was a bit overly exuberant...
ot: lucky didnt upgrade the landed
ot: lucky didnt upgrade the landed
Yes...and I think we should too much focus on property too...safer to diversify a bit....
Not everyone is blessed to be able to work till 67... Health issues come into play...
Look at indo, once you above 60, there are many young ones waiting in line wanting your job.... The jobless rate is so high...
retirement funds are claims on the working population.
when there is surplus output, the working population will accept your money/claims in exchange for their labour output.
in an ageing society, if there is still surplus output, then retirees are still fine.
if no surplus output, well, i dont think nobody's cpf will be enough for retirement.
this put in a new perspective to the story of the couple bringing the grandma to the mountains and left her to die.
when i was 6yo, i was told that was an unfilial act and i think badly of the couple.
now that i am 18+ (still young), i realise that it is an act of survival. there is no surplus output (rice) to feed the grandma. it is work or die.
retirement funds are claims on the working population.
when there is surplus output, the working population will accept your money/claims in exchange for their labour output.
in an ageing society, if there is still surplus output, then retirees are still fine.
if no surplus output, well, i dont think nobody's cpf will be enough for retirement.
this put in a new perspective to the story of the couple bringing the grandma to the mountains and left her to die.
when i was 6yo, i was told that was an unfilial act and i think badly of the couple.
now that i am 18+ (still young), i realise that it is an act of survival. there is no surplus output (rice) to feed the grandma. it is work or die.
Wah, you so young surfing condosingapore ah...no wonder your nick is hopeful....
retirement funds are claims on the working population.
when there is surplus output, the working population will accept your money/claims in exchange for their labour output.
in an ageing society, if there is still surplus output, then retirees are still fine.
if no surplus output, well, i dont think nobody's cpf will be enough for retirement.
this put in a new perspective to the story of the couple bringing the grandma to the mountains and left her to die.
when i was 6yo, i was told that was an unfilial act and i think badly of the couple.
now that i am 18+ (still young), i realise that it is an act of survival. there is no surplus output (rice) to feed the grandma. it is work or die.
In life, we cannot be too judgmental....
Life is about which side of the fence you are in.... People tend to view it from their own perspective....
When a poor man has a major illness, he will want to die and not drag his family down with financial burden...
When a rich man has a major illness, he expects the best doctor,etc... To cure as he still has a wonderful life ahead...
A poor man is not afraid of death, it only shortens his hardship....
A rich man is afraid of death, why??? You know why...
:rolleyes:
....
A rich man is afraid of death, why??? You know why...
:rolleyes:
the potbelly or the bulging pockets full of money will get stuck and cannot fit through the eye?
$155,000 min sum is a lot of money! Enough should be enough & they should not increase it anymore! (Not to forget another $45,000 in Medisave!)
I am not saying it is a bad system but I believe it can be tweaked as it favours the rich over the poor. There is no minimum wage for them and they have yo contribute 20% which is a disproportionate amt leaving them with very little takehome pay. Most here in this forum are quite well to do but how about the less fortunate Singaporeans. I think Sg is still too pro rich and the poor is just left to work till they die which is not what s first world country should be imo. They toiled to build up Sg and still have to work in their old age...I really pity them.
$155,000 min sum is a lot of money! Enough should be enough & they should not increase it anymore! (Not to forget another $45,000 in Medisave!)
They will definitely increase it after the election if no significant opposition voted in to cater for the CPF Life increased payout and for lifetime.
CPF Life to me is just another election carrot. Whether it can really be fulfilled in future, there is no gaurantee...
And if there is not enough money, the 20% can be increased and employer's contribution decreased right?
$155,000 min sum is a lot of money! Enough should be enough & they should not increase it anymore! (Not to forget another 45,000 in Medisave!)
Even if they decide not to increase it anymore, by pegging to 2003 levels, assuming 3% inflation, it will be 280,000 in 2035. Assuming 4% inflation, the sum is 340,000.
I hope I have not calculated wrongly.
Be very prepared...
We should fight for a fairer system. The FT they let in are taking our our jobs slowly and new citizens do not have to serve NS. Sooner or later, the FT new citizen will be voted in parliament and then what happens? As it is there is anger over what PM Lee recently said about foreigners being part of Sg and anger over the fact they do not serve NS. What r our sons protecting? The foreigners can just run away in times of war even if PR or so called new citizens. So much anger that 5 17 year olds allegedly did the graffetti on a HDB block cursing the garment....it is time to decide on our future soon and I hope we think carefully.
So next time if Govt says we have a low inflation rate of 2 or 3%, keep very still and don't go around complaining that kopi and noodle prices go up so much (more than 10%) why the reported inflation is so low.
You should instead ask them to report even lower inflation rates as the cost of laptops and electronic goods going down.
We should fight for a fairer system. The FT they let in are taking our our jobs slowly and new citizens do not have to serve NS. Sooner or later, the FT new citizen will be voted in parliament and then what happens? As it is there is anger over what PM Lee recently said about foreigners being part of Sg and anger over the fact they do not serve NS. What r our sons protecting? The foreigners can just run away in times of war even if PR or so called new citizens. So much anger that 5 17 year olds allegedly did the graffetti on a HDB block cursing the garment....it is time to decide on our future soon and I hope we think carefully.
Mummy, your forgot your GEP math?
To the government, it is a steal to let the FT in. Have u you ever calculated how much the government have to pay to bring up her own talents from a baby, including cost for childcare, primary to tertiary education, healthcare, etc. What's more, the FTs are taken in to inject more vigor to the economy due to the low birth rate of locals so that more opportunities can be created.
Maybe, you just change to the position of the country where the FT emigrate, you will understand. Do these countries gain or lose? if they lose, there surely be some others gaining, right?
Mummy, your forgot your GEP math?
To the government, it is a steal to let the FT in. Have u you ever calculated how much the government have to pay to bring up her own talents from a baby, including cost for childcare, primary to tertiary education, healthcare, etc. What's more, the FTs are taken in to inject more vigor to the economy due to the low birth rate of locals so that more opportunities can be created.
Maybe, you just change to the position of the country where the FT emigrate, you will understand. Do these countries gain or lose? if they lose, there surely be some others gaining, right?
Mummy should learn from Taiwan, you know why Taiwan students occupy Legislature
http://america.aljazeera.com/content/ajam/articles/2014/3/19/-taiwan-studentsoccupylegislatureoverchinatradedeal/_jcr_content/mainpar/adaptiveimage/src.adapt.480.low.jpg
Mummy, your forgot your GEP math?
To the government, it is a steal to let the FT in. Have u you ever calculated how much the government have to pay to bring up her own talents from a baby, including cost for childcare, primary to tertiary education, healthcare, etc. What's more, the FTs are taken in to inject more vigor to the economy due to the low birth rate of locals so that more opportunities can be created.
Maybe, you just change to the position of the country where the FT emigrate, you will understand. Do these countries gain or lose? if they lose, there surely be some others gaining, right?
I do not understand why we have to grow our population so much and such a fast rate. Why is even a low birthrate a problem sometimes if the elderly are working till they die. Why are we not focused on quality of life when we are already so rich. Why keep growing the reserves only to let foreigners enjoy it in the future probably. Why do we need to be the best in the world to survive when other small countries do not. If in yhen end we are one of the unhappiest people in the world.
I do not understand why we have to grow our population so much and such a fast rate. Why is even a low birthrate a problem sometimes if the elderly are working till they die. Why are we not focused on quality of life when we are already so rich. Why keep growing the reserves only to let foreigners enjoy it in the future probably. Why do we need to be the best in the world to survive when other small countries do not. If in yhen end we are one of the unhappiest people in the world.
For a start, there will be more CPF accounts and MS to keep in our reserves. Numerous other benefits that many forummers here can advice.
Many other reasons.
For a start, there will be more CPF accounts and MS to keep in our reserves. Numerous other benefits that many forummers here can advice.
Many other reasons.
The low end FW like domestic helpers and construction workers and the rich business owners I can understand but the PMETs who take away our jobs I do not understand why we need so many of them until so many Sg are retrenched in their 40s and 50s.
Rental income they generate I understand but still it is not a sustainable policy to keep increasing our population so I hope our government comes up with a new gameplan soon...
The low end FW like domestic helpers and construction workers and the rich business owners I can understand but the PMETs who take away our jobs I do not understand why we need so many of them until so many Sg are retrenched in their 40s and 50s.
Rental income they generate I understand but still it is not a sustainable policy to keep increasing our population so I hope our government comes up with a new gameplan soon...
Rumors after a while become facts.... Where are your stats to substantiate your statements?????
"so many of them until so many Sg are retrenched in their 40s and 50s"
http://www.mom.gov.sg/newsroom/Pages/PressReleasesDetail.aspx?listid=523
Just went panorama.... Considering it and most likely will place a cheque... Hahahahaha
You all don't mind to pay for the ABSD? Actually I thought of selling off my current house and get another one but don't know which location to get and also because of ABSD that hold me back.:banghead:
Bro
I am waiting
will be my last purchase as loan draw down period getting shorter
(preferably a 4bedder for own stay)
You want to buy a 4 bedder? I still thought of getting a smaller one for our old aged, to save the cleaning process at home.:p
You all don't mind to pay for the ABSD? Actually I thought of selling off my current house and get another one but don't know which location to get and also because of ABSD that hold me back.:banghead:
I mind :D:D:D:D:D
Agent coming to my house tonite to collect cheque.... This one ballot to choose unit... Price quite reasonable leh.... Finishing also quite swee leh...
Now developer lose money, people still don't buy:confused::confused::confused::confused:
But when developer make money, people complain and also don't buy leh....
Very cheem leh....
This one if price drop also won't lose so much money leh...
You want to buy a 4 bedder? I still thought of getting a smaller one for our old aged, to save the cleaning process at home.:p
Do consider a big living room to accommodate reunion dinners and also the grandchildren to run around...:D
I think Simi still young and kids also young...
You want to buy a 4 bedder? I still thought of getting a smaller one for our old aged, to save the cleaning process at home.:p
have 2 and 3 bedroom
4 bedroom only one missing from my portfolio :D :ashamed1:
Many people rent out big one and stay in small one
I opposite :)
Rumors after a while become facts.... Where are your stats to substantiate your statements?????
"so many of them until so many Sg are retrenched in their 40s and 50s"
http://www.mom.gov.sg/newsroom/Pages/PressReleasesDetail.aspx?listid=523
Learnt a phrase today. Something like - whoever claims he can predict the future lies, even when he is telling the truth. Very insightful.
Rumors after a while become facts.... Where are your stats to substantiate your statements?????
"so many of them until so many Sg are retrenched in their 40s and 50s"
http://www.mom.gov.sg/newsroom/Pages/PressReleasesDetail.aspx?listid=523
Anecdotal evidence from my job as GP. I have seen patients retrenched and had to pass so many foreigners doing preemployment check up. More than 50% to even more at some clinics of my patients are foreigners ....you cannot deny they are competing with us for jobs especially the Filipinos right? I have worked with them in the public sector and now even see them in the private sector so my job security is also begining to feel threathened...it is only a matter of time before they depress my salary and take away my job....that is why I had to have a plan B and all should also plan for that....
I mind :D:D:D:D:D
Agent coming to my house tonite to collect cheque.... This one ballot to choose unit... Price quite reasonable leh.... Finishing also quite swee leh...
Now developer lose money, people still don't buy:confused::confused::confused::confused:
But when developer make money, people complain and also don't buy leh....
Very cheem leh....
This one if price drop also won't lose so much money leh...
Bro
Congratulations !!!
How many bedroom type if you do not mind disclosing ? :D
Anecdotal evidence from my job as GP. I have seen patients retrenched and had to pass so many foreigners doing preemployment check up. More than 50% to even more at some clinics of my patients are foreigners ....you cannot deny they are competing with us for jobs especially the Filipinos right? I have worked with them in the public sector and now even see them in the private sector so my job security is also begining to feel threathened...it is only a matter of time before they depress my salary and take away my job....that is why I had to have a plan B and all should also plan for that....
This topic is sensitive. I can only say, the net effect on you is good overall for our workforce.
1. You work harder or smarter knowing that the rice bowl is not golden.
2. If you indeed embark on plan B, it will ultimately help a little in alleviating the congestion and the high prices locally.
Anecdotal evidence from my job as GP. I have seen patients retrenched and had to pass so many foreigners doing preemployment check up. More than 50% to even more at some clinics of my patients are foreigners ....you cannot deny they are competing with us for jobs especially the Filipinos right? I have worked with them in the public sector and now even see them in the private sector so my job security is also begining to feel threathened...it is only a matter of time before they depress my salary and take away my job....that is why I had to have a plan B and all should also plan for that....
The people who are retrenched will visit the doctor because they are suffering from 'depression, anxiety, etc...' they have difficulty sleeping... The rite person they should meet is psychiatrist.... But there is a fear of being branded 'crazy'... Because we have not move to that level yet....
Why do you need to feel threaten.... This is the world we live in.... Is it easy for a nurse to move to Australia or London???? Why??? Would this country embrace them or shunt them???
Supply/demand.... It has been like this all along...
Were their many ang moh MDs in the past???? After we have learnt the ropes, this MNCs replaced the ang mohs with local MDs... Rite??? If you are up to rev, you will be wanted... What is the value proposition to the employer is the key....
Cheers
:cheers1::cheers1:
Bro
Congratulations !!!
How many bedroom type if you do not mind disclosing ? :D
They delay the ballot to 23rd may.... Because not many can get in principle approval for loan... HAHAHAHAHAHAHAHA
For me, I do not have any 1 or 2 bedders... Mine are all 3 & 4 bedders...
The best ROI is actually 2 and 1 bedders... I got stuck in the past... Hahahahahaha....
Getting 2 bedder... So now I can choose between a 2bedder or 3 bedder to retire in when my kids all married off...
They delay the ballot to 23rd may.... Because not many can get in principle approval for loan... HAHAHAHAHAHAHAHA
For me, I do not have any 1 or 2 bedders... Mine are all 3 & 4 bedders...
The best ROI is actually 2 and 1 bedders... I got stuck in the past... Hahahahahaha....
Getting 2 bedder... So now I can choose between a 2bedder or 3 bedder to retire in when my kids all married off...
Congrats bro Chestnut. You announce here later suddenly got 20 more cheques join ballot for 2BR.
Congrats bro Chestnut. You announce here later suddenly got 20 more cheques join ballot for 2BR.
I believe "if it is yours, it's yours"... No problem one... There will be other projects which developer must drop price... You all need to do more homework on those slow moving condos .... Hahahahaha
I tried hillford also didn't get, so no problem lar... If others get, I happy for them lor... With a positive attitude, life will be a lot better and happier... SMILE
:D:D:D:D:D:D:D:D:D:D:D
I believe "if it is yours, it's yours"... No problem one... There will be other projects which developer must drop price... You all need to do more homework on those slow moving condos .... Hahahahaha
I tried hillford also didn't get, so no problem lar... If others get, I happy for them lor... With a positive attitude, life will be a lot better and happier... SMILE
:D:D:D:D:D:D:D:D:D:D:D
Yah same here. Happy for those who get what they aim for and work hard for it. Best of luck!
Mummy, your forgot your GEP math?
To the government, it is a steal to let the FT in. Have u you ever calculated how much the government have to pay to bring up her own talents from a baby, including cost for childcare, primary to tertiary education, healthcare, etc. What's more, the FTs are taken in to inject more vigor to the economy due to the low birth rate of locals so that more opportunities can be created.
Maybe, you just change to the position of the country where the FT emigrate, you will understand. Do these countries gain or lose? if they lose, there surely be some others gaining, right?
Agree with your logic +++ and amk post.. very good
Mummy, your forgot your GEP math?
To the government, it is a steal to let the FT in. Have u you ever calculated how much the government have to pay to bring up her own talents from a baby, including cost for childcare, primary to tertiary education, healthcare, etc. What's more, the FTs are taken in to inject more vigor to the economy due to the low birth rate of locals so that more opportunities can be created.
Maybe, you just change to the position of the country where the FT emigrate, you will understand. Do these countries gain or lose? if they lose, there surely be some others gaining, right?
these are short-term solutions for a long-term problem.
declining birth-rate and an ageing society.
"Lessons to be learnt for small states from Crimea annexation, says PM Lee". dont know whether PM lee is stupid, or toeing the west's line or just to frighten singaporeans to support f-35 purchases .
a short history of a tropical island.
this island used to be a fishing village populated by brown-skin.
Uncontrolled immigration led to brown-skin being a minority and changes from brown-skin core to a yellow-skin core. thus, this island is permanently loss to mother state due to shift in racial population. immigrants has now become the rulers.
the govt of this island is well aware of the the problem and its history.
brown-skin has higher birth rate than yellow-skin. if nothing is done, while in a few decades, the brown-skin will have higher population than yellow-skin.
so this govt turns to importing selectively, namely dark-skin and yellow-skin. yellow-skin is because the core is already yellow-skin and dark-skin because the current dark-skin periphery is only a small %.
likewise for neighbouring country up north of the island.
yellow-skin emigration and lower birth rate will lead to declining population leading to loss of political power of yellow-skin.
(if increasing the population to boost growth is the only factor, then it doesnt matter whether cat is black or white, instead only selective color cats are being allowed in the island).
immigration and bringing foreigners are short-term solutions for a long-term problem, which is declining birth-rate and an ageing society.
the nation's identity will change.
but is that such a bad thing?
What are the other alternatives????
It is indeed a conundrum... Hahahahaha
http://www.oecd.org/dev/asia-pacific/Singapore.pdf
http://krisageneve.files.wordpress.com/2011/02/terauds-e762-paper.pdf
Aging population, natural resources, human talent, GDP growth, political suicide, cohesive society, etc...
:confused::confused::confused:
To do the job, you need a calling of sorts.
It's easy to shoot down a proposition/solution to the issue....
It's difficult to come out with the ideal solution....
Hahahahahaha
No solution is ideal, democracy and communism, both have their issues, but which is better???? Even the animals in 'animal farm' got confused.....
:cheers1::cheers1:
these are short-term solutions for a long-term problem.
declining birth-rate and an ageing society.
"Lessons to be learnt for small states from Crimea annexation, says PM Lee". dont know whether PM lee is stupid, or toeing the west's line or just to frighten singaporeans to support f-35 purchases .
a short history of a tropical island.
this island used to be a fishing village populated by brown-skin.
Uncontrolled immigration led to brown-skin being a minority and changes from brown-skin core to a yellow-skin core. thus, this island is permanently loss to mother state due to shift in racial population. immigrants has now become the rulers.
the govt of this island is well aware of the the problem and its history.
brown-skin has higher birth rate than yellow-skin. if nothing is done, while in a few decades, the brown-skin will have higher population than yellow-skin.
so this govt turns to importing selectively, namely dark-skin and yellow-skin. yellow-skin is because the core is already yellow-skin and dark-skin because the current dark-skin periphery is only a small %.
likewise for neighbouring country up north of the island.
yellow-skin emigration and lower birth rate will lead to declining population leading to loss of political power of yellow-skin.
(if increasing the population to boost growth is the only factor, then it doesnt matter whether cat is black or white, instead only selective color cats are being allowed in the island).
immigration and bringing foreigners are short-term solutions for a long-term problem, which is declining birth-rate and an ageing society.
the nation's identity will change.
but is that such a bad thing?
What are the other alternatives????
It is indeed a conundrum... Hahahahaha
http://www.oecd.org/dev/asia-pacific/Singapore.pdf
http://krisageneve.files.wordpress.com/2011/02/terauds-e762-paper.pdf
Aging population, natural resources, human talent, GDP growth, political suicide, cohesive society, etc...
:confused::confused::confused:
To do the job, you need a calling of sorts.
It's easy to shoot down a proposition/solution to the issue....
It's difficult to come out with the ideal solution....
Hahahahahaha
No solution is ideal, democracy and communism, both have their issues, but which is better???? Even the animals in 'animal farm' got confused.....
:cheers1::cheers1:
govt is discriminating against singles for hdb.
govt CAN discriminate for family with babies.
discriminating against singles is not the same as discriminating for families.
and more baby bonus will do the trick to boost birth, thank you.
(of course the govt fear is more brown than yellow babies).
when you want something done, you throw resources at the problem and not piecemeal measures.
if $90m for youth olympics not enough, spend another $100m, if not enough, then another $110 until a total of $300m for youth olympics.
it is the same for infrastructure projects, not enough to finish the project, throw more resources until projects are completed
the current govt is not serious in tackling the problem. just like you, why think so much? the next generaton of govt will take care of it and it is the next generation that will face the problems.
i made enough now to last 3 generations, thank you.
and the problem is not ageing society, the problem is ageing society not working.
has anybody explain yet why CPF is not earning higher rates to match inflation?
and it is also easy to hahahahaha.
i agree that's all most want to do, sit on fences, make money and hahahahaha :)
Very simple, gov cannot afford to pay more on CPF funds. Otherwise it is not a cheap funding anymore.
In fact, the socalled minimum sum is also the maximum sum, that gov can promise to pay a decent annuity. If I volunteer to pay 1mil into cpy life, you get dramatically lower return. Only amt up to minimum sum gets a decent annuity.
govt is discriminating against singles for hdb.
govt CAN discriminate for family with babies.
discriminating against singles is not the same as discriminating for families.
and more baby bonus will do the trick to boost birth, thank you.
(of course the govt fear is more brown than yellow babies).
when you want something done, you throw resources at the problem and not piecemeal measures.
if $90m for youth olympics not enough, spend another $100m, if not enough, then another $110 until a total of $300m for youth olympics.
it is the same for infrastructure projects, not enough to finish the project, throw more resources until projects are completed
the current govt is not serious in tackling the problem. just like you, why think so much? the next generaton of govt will take care of it and it is the next generation that will face the problems.
i made enough now to last 3 generations, thank you.
and the problem is not ageing society, the problem is ageing society not working.
has anybody explain yet why CPF is not earning higher rates to match inflation?
and it is also easy to hahahahaha.
i agree that's all most want to do, sit on fences, make money and hahahahaha :)
http://nydailyrecord.com/files/2012/08/facebook-like.gif
Not everyone can be a priest, general, business man, politician, singer... You need talent😃
U are gifted👍
govt is discriminating against singles for hdb.
govt CAN discriminate for family with babies.
discriminating against singles is not the same as discriminating for families.
and more baby bonus will do the trick to boost birth, thank you.
(of course the govt fear is more brown than yellow babies).
when you want something done, you throw resources at the problem and not piecemeal measures.
if $90m for youth olympics not enough, spend another $100m, if not enough, then another $110 until a total of $300m for youth olympics.
it is the same for infrastructure projects, not enough to finish the project, throw more resources until projects are completed
the current govt is not serious in tackling the problem. just like you, why think so much? the next generaton of govt will take care of it and it is the next generation that will face the problems.
i made enough now to last 3 generations, thank you.
and the problem is not ageing society, the problem is ageing society not working.
has anybody explain yet why CPF is not earning higher rates to match inflation?
and it is also easy to hahahahaha.
i agree that's all most want to do, sit on fences, make money and hahahahaha :)
When u have better standard of living, u have less babies...
When you live in village like indonesia where there is not much entertainment, what is the past time???
Not everything can be solved with money... Hahahaha
Very simple, gov cannot afford to pay more on CPF funds. Otherwise it is not a cheap funding anymore.
In fact, the socalled minimum sum is also the maximum sum, that gov can promise to pay a decent annuity. If I volunteer to pay 1mil into cpy life, you get dramatically lower return. Only amt up to minimum sum gets a decent annuity.
then it is not a matter of affordability is it?
it is a matter of whether govt want to pay more or dont want to pay more.
can be sum up like this right?
if govt wants to pay more for cpf, less profits to the SWFs and more to cpf holders.
if govt pay less, more profits to the SWFs and less to cpf holders.
when funds are cheap, it is easier to meet the cost of borrowing and they dont have to work so hard.
when the mortgage is set at 1%, the bar is set so low that practically any property you buy will have positive cash flow.
when mortgage is set at 4%, then investor really have to work harder to find property that will have positive cash flow.
also, in general, when funds are cheap, would you say the chances for malinvestment is higher?
When u have better standard of living, u have less babies...
When you live in village like indonesia where there is not much entertainment, what is the past time???
Not everything can be solved with money... Hahahaha
http://wiki.openstreetmap.org/w/images/thumb/f/fb/Yes_check.svg/600px-Yes_check.svg.png
When u have better standard of living, u have less babies...
When you live in village like indonesia where there is not much entertainment, what is the past time???
Not everything can be solved with money... Hahahaha
it cannot solve but it can nudge some to make the move.
it cannot solve but it can nudge some to make the move.
Bro, agree... But the cost of bringing up a kid in developed country is so high... The incentive is a fraction of the cost of bring up a kid. As we become more educated, we begin to choose what is beneficial...
Of cost giving incentive is better than nothing:D
Bro, agree... But the cost of bringing up a kid in developed country is so high... The incentive is a fraction of the cost of bring up a kid. As we become more educated, we begin to choose what is beneficial...
Of cost giving incentive is better than nothing:D
Ok, every 2 children can cancel 1 property count in the computation of ABSD.
What are the other alternatives????
It is indeed a conundrum... Hahahahaha
http://www.oecd.org/dev/asia-pacific/Singapore.pdf
http://krisageneve.files.wordpress.com/2011/02/terauds-e762-paper.pdf
Aging population, natural resources, human talent, GDP growth, political suicide, cohesive society, etc...
:confused::confused::confused:
To do the job, you need a calling of sorts.
It's easy to shoot down a proposition/solution to the issue....
It's difficult to come out with the ideal solution....
Hahahahahaha
No solution is ideal, democracy and communism, both have their issues, but which is better???? Even the animals in 'animal farm' got confused.....
:cheers1::cheers1:
critics have easy job. just criticise. no solution. coming up with a solution is the toughest job.
Ok, every 2 children can cancel 1 property count in the computation of ABSD.
lucky draw free D9,10,11 condo for lucky couple. but min quota per year must be hit to activate draw. macham a Groupon lucky draw model. booleh?
critics have easy job. just criticise. no solution. coming up with a solution is the toughest job.
which measures is stronger in magnitude?
the measure to stop at 2?
the measure to have 3 or more?
opposition have come up with solutions, unfortunately pap dont want to "listen", they poo-poo the idea and they wait for some time before implementing the ideas.
critics have easy job. just criticise. no solution. coming up with a solution is the toughest job.
dear minority, u seems to be 100% pro-pap person.
can you share with us whether u have any issues with the govt so far?
dear minority, u seems to be 100% pro-pap person.
can you share with us whether u have any issues with the govt so far?
I think we have to acknowledge that there no such thing as a 'perfect gov'. If there is please let me know I want to stay there.
Very simple, gov cannot afford to pay more on CPF funds. Otherwise it is not a cheap funding anymore.
In fact, the socalled minimum sum is also the maximum sum, that gov can promise to pay a decent annuity. If I volunteer to pay 1mil into cpy life, you get dramatically lower return. Only amt up to minimum sum gets a decent annuity.
is cpf considered as liabilities to the govt?
is reserve considered as assets to the govt?
if like that, then of course, the govt dont want to a high rate of return to the cpf, do they?
minimised liabilities and maximised assets.
actually what is to prevent the CPF board from starting their own investment fund?
what is to stop CPF from headhunting HoChing and friends from TH to start running the CPF funds? They are that good, from losses in citibank to become super-duper profits from citibank shares.
dont the CPF board have enough confidence in HC and friends? :rolleyes:
if CPF board no confidence, they should be fired. HC have a good track record,achieving 15% returns annually over the years, instead of the miserly 2.5 / 4% returns by investing in SGS, SGSS bonds.
who want 15% return on CPF, kee-chiu.
who want HC to head CPF investment fund, kee-chiu.
why does CPF need to buy SGS and SSGS, is it because the law say so?
so from this law, the govt set up a middle-man company to give only 2.5 / 4% back to the CPF and to let the govt skim whatever excess profit they make.
lets say TH and GIC lose money, how is the singapore govt to pay back the interest and principal back to CPF? and what is meant by guarantee?
got no money, how to guarantee
rymccondo77
11-05-14, 17:39
is cpf considered as liabilities to the govt?
is reserve considered as assets to the govt?
if like that, then of course, the govt dont want to a high rate of return to the cpf, do they?
minimised liabilities and maximised assets.
actually what is to prevent the CPF board from starting their own investment fund?
what is to stop CPF from headhunting HoChing and friends from TH to start running the CPF funds? They are that good, from losses in citibank to become super-duper profits from citibank shares.
dont the CPF board have enough confidence in HC and friends? :rolleyes:
if CPF board no confidence, they should be fired. HC have a good track record,achieving 15% returns annually over the years, instead of the miserly 2.5 / 4% returns by investing in SGS, SGSS bonds.
who want 15% return on CPF, kee-chiu.
who want HC to head CPF investment fund, kee-chiu.
why does CPF need to buy SGS and SSGS, is it because the law say so?
so from this law, the govt set up a middle-man company to give only 2.5 / 4% back to the CPF and to let the govt skim whatever excess profit they make.
lets say TH and GIC lose money, how is the singapore govt to pay back the interest and principal back to CPF? and what is meant by guarantee?
got no money, how to guarantee
I kee chiu for 15% return on CPF ....... BUT high return means high risk!!!
dear minority, u seems to be 100% pro-pap person.
can you share with us whether u have any issues with the govt so far?
Dear hopeful, u seems to be 100% pro WP person. Can u share with us whether u have any issues with WP so far?
Dear hopeful, u seems to be 100% pro WP person. Can u share with us whether u have any issues with WP so far?
since there is no such thing as a 'perfect gov' including the pap gov, it is only natural there will be views not 100% pro pap. Does not mean having these views mean 100% pro WP or opposition.
are u 100% pro pap?
I kee chiu for 15% return on CPF ....... BUT high return means high risk!!!
if managed by anybody else, it means high risk to get that 15% return.
but if CPF funds managed by HC and friends, guaranteed 15%, definitely no risk, confirm and double chopped.
you dont know our HC is among the most powerful man in the world meh?
I think we have to acknowledge that there no such thing as a 'perfect gov'. If there is please let me know I want to stay there.
sure, the current government job is perfect.
high salary, no need to take responsibility for mistakes.
any mistake, cost overrun "just move on".
compared this to south korean pm resigning over ferry sinking.
wtf has ferry sinking go to do with him?
so i think there are already perfect govt job in singapore. high salary, no need to take responsibility.
see you in 2016 :)
Dear hopeful, u seems to be 100% pro WP person. Can u share with us whether u have any issues with WP so far?
actually i am pro-pap :o, paiseh to disappoint you.
but that doesnt mean i am a 100% unquestioning follower.
you have already read my issues with PAP :)
wtf, a regulator head joining the industry he is regulating, in this case Far east.
Marc Boey - The group director of land sales and administration at URA plays an important policymaking role for the Singapore property sector and reports directly to URA's chief executive officer.
the shit is legal (since no CPIB), but it still stinks.
rymccondo77
11-05-14, 19:10
if managed by anybody else, it means high risk to get that 15% return.
but if CPF funds managed by HC and friends, guaranteed 15%, definitely no risk, confirm and double chopped.
you dont know our HC is among the most powerful man in the world meh?
Ha ha - HC doesn't control the world :D
sure, the current government job is perfect.
high salary, no need to take responsibility for mistakes.
any mistake, cost overrun "just move on".
compared this to south korean pm resigning over ferry sinking.
wtf has ferry sinking go to do with him?
so i think there are already perfect govt job in singapore. high salary, no need to take responsibility.
see you in 2016 :)
Agree that there should be more accountability from the people responsible for investing and managing tax payors' money.
When billions are lost in investments by GIC, are revenue from COEs and stamp duties from ABSD and SSD not used to make up the losses so are we not the ones having to pay for their mistakes?
When so much money is involved ie our reserves, checks and balances and accountability should be demanded. Power corrupts and absolute power corrupts absolutely. This is what was taught to me when young and has stuck in my head.
Agree that there should be more accountability from the people responsible for investing and managing tax payors' money.
When billions are lost in investments by GIC, are revenue from COEs and stamp duties from ABSD and SSD not used to make up the losses so are we not the ones having to pay for their mistakes?
When so much money is involved ie our reserves, checks and balances and accountability should be demanded. Power corrupts and absolute power corrupts absolutely. This is what was taught to me when young and has stuck in my head.
Put yourself in their shoe, remember to remove your shoe.
Do you want the whole world to know what we have and what we don't.
I think we have to acknowledge that there no such thing as a 'perfect gov'. If there is please let me know I want to stay there.
If have let me know too!
dear minority, u seems to be 100% pro-pap person.
can you share with us whether u have any issues with the govt so far?
u seems to be a 100% anti establishment person. do you have any solution? U so quick to jump to conclusion I am pro PAP?? base on what? base on the fact I dont agree with your assumption?
Thats such narrowed mindness . 1st to blame and critic but no solution. so typical.
Bro, agree... But the cost of bringing up a kid in developed country is so high... The incentive is a fraction of the cost of bring up a kid. As we become more educated, we begin to choose what is beneficial...
Of cost giving incentive is better than nothing:D
Cost is high coz the parents expectations are also high. but its a develop society problem.
Unless the parents want to all go back to farming... ;)
dear minority, u seems to be 100% pro-pap person.
can you share with us whether u have any issues with the govt so far?
btw. I am not going to critic some for sake of critic. If I dont see a better solution. There are always things that can be improved. it will never be perfect. If u can find me 1 pls tell us. all here. I believe many people will be waiting for u to tell us.
sure, the current government job is perfect.
high salary, no need to take responsibility for mistakes.
any mistake, cost overrun "just move on".
compared this to south korean pm resigning over ferry sinking.
wtf has ferry sinking go to do with him?
so i think there are already perfect govt job in singapore. high salary, no need to take responsibility.
see you in 2016 :)
lol! like the president is GOD?
Agree that there should be more accountability from the people responsible for investing and managing tax payors' money.
When billions are lost in investments by GIC, are revenue from COEs and stamp duties from ABSD and SSD not used to make up the losses so are we not the ones having to pay for their mistakes?
When so much money is involved ie our reserves, checks and balances and accountability should be demanded. Power corrupts and absolute power corrupts absolutely. This is what was taught to me when young and has stuck in my head.
I am sure our neighbours are also waiting for us to open books to they can learn from us or attack us too.
Typical excuses as though knowing how much we have means they can attack us? :rolleyes:
In the very least, we have the right to know where the CPF monies go to..........
I remember Singapore had a president who wanted to know Singapore country total assets but he died without achieving his aim, and he is the PRESIDENT! So, who knows Singapore total assets?........... :simmering:
I am sure our neighbours are also waiting for us to open books to they can learn from us or attack us too.
this minority must be an old fool brainwashed by the garment, better off moving to north korea lol
Typical excuses as though knowing how much we have means they can attack us? :rolleyes:
In the very least, we have the right to know where the CPF monies go to..........
I remember Singapore had a president who wanted to know Singapore country total assets but he died without achieving his aim, and he is the PRESIDENT! So, who knows Singapore total assets?........... :simmering:
oh maybe you should open all ur books to us now? how abt that for a start?
The problem here now is that the minimum sum is going to get much higher in future with CPF Life and many Sg will not be able to meet it and prob end up selling their flats and working till they die. Who is going to help them. I see people in their 70s coming for preemployment check ups and some have children too and it is because money no enough. Can we keep relying on increasing the working population CPF contribution and high COE prices etc to fund their retirement? Can we not use our reserves partly for that or more of our annual budget surplus? Is the strength of our currency dependent on our big reserves and why do we need to have such a strong currency until neighbours flood in and compete with us for jobs. I believe our currency cannot keep going up relative to others, they are many pros but we must also consider the cons. Do the ministers deserve such high salary when many are expected to work till they die?
The garment expects the old to cash out and retire in Iskandar too or downgrade to studio apartments that is why resale HDB prices are still kept high. This is happening for the older generation who have worked to build Sg but may not be for our generation. I would caution against depending on our property solely for our retirement as it may be risky in yhe future.
The problem here now is that the minimum sum is going to get much higher in future with CPF Life and many Sg will not be able to meet it and prob end up selling their flats and working till they die. Who is going to help them. I see people in their 70s coming for preemployment check ups and some have children too and it is because money no enough. Can we keep relying on increasing the working population CPF contribution and high COE prices etc to fund their retirement? Can we not use our reserves partly for that or more of our annual budget surplus? Is the strength of our currency dependent on our big reserves and why do we need to have such a strong currency until neighbours flood in and compete with us for jobs. I believe our currency cannot keep going up relative to others, they are many pros but we must also consider the cons. Do the ministers deserve such high salary when many are expected to work till they die?
The garment expects the old to cash out and retire in Iskandar too or downgrade to studio apartments that is why resale HDB prices are still kept high. This is happening for the older generation who have worked to build Sg but may not be for our generation. I would caution against depending on our property solely for our retirement as it may be risky in yhe future.
Look at situations at developed countries for your answers... Study what is happening to their cost of living, housing, aging population, etc.. and you will find similarities...
A person determines his/her destiny....
Optimist or pessimist????
Look at KL, check out what people they are hiring at food shops??? D u think Malaysians??????
;);)
Look at situations at developed countries for your answers... Study what is happening to their cost of living, housing, aging population, etc.. and you will find similarities...
A person determines his/her destiny....
Optimist or pessimist????
Look at KL, check out what people they are hiring at food shops??? D u think Malaysians??????
;);)
I guess the rich like you are usually proPAP and do not really care about the poor...
Allthepies
12-05-14, 07:53
If everybody truly really want to help the poor, when you spotted 1 on the street, please approach him/her and gives him/her your helping hand... dont push the blame away and says only rich in pocket can help the poor... the only people who can help the poor is those rich in kindness...
The rest are just arguing for the poor for the sake of arguing or gaining recognition...
If everybody truly really want to help the poor, when you spotted 1 on the street, please approach him/her and gives him/her your helping hand... dont push the blame away and says only rich in pocket can help the poor... the only people who can help the poor is those rich in kindness...
The rest are just arguing for the poor for the sake of arguing or gaining recognition...
I do help the poor by regular donations and sometimes after a hard day's work, give S$10 to a tissue peddlar.
What is wrong with discussion about something that concerns everyone. The rich should be taxed more and the poor less is that wrong? Or r all who surf this forum rich so allergic to such talk? Sg is too capitalistic a society and everyone just worships and chase after money. America was like that and it has fallen in power now, Sg should learn from their mistakes and not be overly capitalistic and more socialistic.
Why can't the government waive GST for basic necessities like rice, oil and milk powder? Do you know in Phillippines, a can of milk powder costs S$15 according to my helper while in Sg it is S$65 and even Malaysia S$40. If I am feeling the pinch from basic necessities , I cannot imagine how much more so the lower income.
Allthepies
12-05-14, 08:21
I do help the poor by regular donations and sometimes after a hard day's work, give S$10 to a tissue peddlar.
good job! :cheers1:
we can do more by convincing our friends and families to do their part too.. we need more people from the ground up to spread kindness and happiness...
good job:cheers1:
princess_morbucks
12-05-14, 08:22
http://mycpf.cpf.gov.sg/CPF/News/News-Release/N_8May2014.htm
http://mycpf.cpf.gov.sg/NR/rdonlyres/F0EF8855-3D50-4AFB-95CD-70D198E77C9A/0/press8May2014_1.JPG
I guess the rich like you are usually proPAP and do not really care about the poor...
The rich pay most of the tax. No subsidy.
princess_morbucks
12-05-14, 08:25
At present, I assume we can use half of the minumum sum to pay for 2nd or subsequent properties?
However upon reaching 55 years old, when the minimum sum is transferred to the RA, can we still use half of that minimum sum to pay for 2nd or subsequentproperties?
I guess the rich like you are usually proPAP and do not really care about the poor...
I am not rich... I am not pro pap... Hahahaha
My question to you.. If govt helps all the poor, will the poor work harder???
When your kids are older and working, will you help them all the way??? Which has deeper roots, parents or pap??? If your kids complain that salary of 4k not enough and want you to give them allowance of 2k, will you????
Now if the kid is handicapped, that is a different situation.
We are sharing our views but u simply determine my stand from my views???
If the not so fortunate, can they upgrade and do something about it???
Which country takes care of all the unfortunate???
There will be classes in the future, even present and past. True???
I did not come from a well to do family, neither did you?
Did u progress??? Should you be happy with your progression??? How many more are less fortunate then you??? Were you given an opportunity???
Food for thought:)
At present, I assume we can use half of the minumum sum to pay for 2nd or subsequent properties?
However upon reaching 55 years old, when the minimum sum is transferred to the RA, can we still use half of that minimum sum to pay for 2nd or subsequentproperties?
:confused:
Don't know but I know getting loan is tough and you need cash, lots of it;)
The problem here now is that the minimum sum is going to get much higher in future with CPF Life and many Sg will not be able to meet it and prob end up selling their flats and working till they die. Who is going to help them. I see people in their 70s coming for preemployment check ups and some have children too and it is because money no enough. Can we keep relying on increasing the working population CPF contribution and high COE prices etc to fund their retirement? Can we not use our reserves partly for that or more of our annual budget surplus? Is the strength of our currency dependent on our big reserves and why do we need to have such a strong currency until neighbours flood in and compete with us for jobs. I believe our currency cannot keep going up relative to others, they are many pros but we must also consider the cons. Do the ministers deserve such high salary when many are expected to work till they die?
The garment expects the old to cash out and retire in Iskandar too or downgrade to studio apartments that is why resale HDB prices are still kept high. This is happening for the older generation who have worked to build Sg but may not be for our generation. I would caution against depending on our property solely for our retirement as it may be risky in yhe future.
the questions that should be asked:
1) why cpf buy sgs & sgss at low rate instead of starting its own investment fund.
2) if cpf has manage 15% annually, there would be no need for using reserves etc.
3) is it better to have fixed 2.5% / 4 % or variable 10% - 20%. ?
4) why need a middle-man company to skim off excess profits?
if you notice the patterns, there are middle-man companies for sleigh-of-hands accounting practices, so that they can transfer here, can transfer there, swap here, there everywhere until even the good educated folks here are confused as to where the money goes to:
some examples i can think of:
1) $2 company to manage Town councils software
2) hdb losing money every year
so the question you should be asking
1) why cpf buy sgs & sgss at low rate instead of starting its own investment fund ?
instead of asking whether reserves can be used or annual budget surplus.
this is the sleight-of-hand trick because the govt will say reserves is for strong currency, etc and that will sound logical to you and the general public.
if the govt want to build reserves, why dont they borrow at commercial rates and excess profits then go to singapore reserves?
instead what they are doing to "steal" from cpf members by giving such low rates and increasing minimum sum and giving the proceeds of the "theft" to reserves.
Even the medicine you prescribed is much cheaper at the neighbouring countries. Well, the policy of teaching them to fish is still better than giving them fish. Unfortunately, with the rising cost, Garment has started to giving out fishes. This is the start of the problem as they will be asking for more fishes. This can be dangerous if it becomes political strategy. :)
I do help the poor by regular donations and sometimes after a hard day's work, give S$10 to a tissue peddlar.
What is wrong with discussion about something that concerns everyone. The rich should be taxed more and the poor less is that wrong? Or r all who surf this forum rich so allergic to such talk? Sg is too capitalistic a society and everyone just worships and chase after money. America was like that and it has fallen in power now, Sg should learn from their mistakes and not be overly capitalistic and more socialistic.
Why can't the government waive GST for basic necessities like rice, oil and milk powder? Do you know in Phillippines, a can of milk powder costs S$15 according to my helper while in Sg it is S$65 and even Malaysia S$40. If I am feeling the pinch from basic necessities , I cannot imagine how much more so the lower income.
I am not rich... I am not pro pap... Hahahaha
My question to you.. If govt helps all the poor, will the poor work harder???
When your kids are older and working, will you help them all the way??? Which has deeper roots, parents or pap??? If your kids complain that salary of 4k not enough and want you to give them allowance of 2k, will you????
Now if the kid is handicapped, that is a different situation.
We are sharing our views but u simply determine my stand from my views???
If the not so fortunate, can they upgrade and do something about it???
Which country takes care of all the unfortunate???
There will be classes in the future, even present and past. True???
I did not come from a well to do family, neither did you?
Did u progress??? Should you be happy with your progression??? How many more are less fortunate then you??? Were you given an opportunity???
Food for thought:)
No offense intended....know the system is pretty good now but we should still ask questions and seek to make it better as we have acknowledged that no system is perfect. That is what the garment is doing also, coming up with changes so frequently...
Change for the better is good but not for the worst. :scared-3: Ministers these days do not seem to have thought through thoroughly before implementing their policies. Too much political mix in their policies.
No offense intended....know the system is pretty good now but we should still ask questions and seek to make it better as we have acknowledged that no system is perfect. That is what the garment is doing also, coming up with changes so frequently...
princess_morbucks
12-05-14, 09:37
I checked the CPF website.
No change with reagrds to using the CPF for property loan :
http://mycpf.cpf.gov.sg/CPF/my-cpf/buy-house/BH5.htm
Multiple property purchase
If you already own a property (HDB flat or private property) bought with your CPF savings and wish to buy another property with CPF savings from 1 July 2006, you will be able to do so after setting the prescribed Minimum Sum as follows:
If you are below 55 years old, you are required to set aside half of the prevailing Minimum Sum in your Ordinary and Special Accounts (including the amount used for investment).
If you are 55 years and above, you are required to set aside the required Minimum Sum Cash Component in your CPF Retirement Account.
The maximum amount of CPF you can use for the second and subsequent properties is:
the VL for properties with a remaining lease of at least 60 years; or
A percentage of the VL for properties with a remaining lease of less than 60 years but at least 30 years.
Change for the better is good but not for the worst. :scared-3: Ministers these days do not seem to have thought through thoroughly before implementing their policies. Too much political mix in their policies.
Asking the lost sheeps for direction :scared-3:
Change for the better is good but not for the worst. :scared-3: Ministers these days do not seem to have thought through thoroughly before implementing their policies. Too much political mix in their policies.
bro, bo pian..... If they dont listen to the woes of the people, they will lose more seats, then lagi worst....
I personally feel the complains from the people are also good... why??? can you imagine if we did not kpkb, how many foreigners will there be today???? I really cannot imagine so many foreigners in our country... Of course if they allow more foreigners in, I will buy more properties like crazy !!!! But that would be for financial gains but I will not enjoy staying in Singapore.. So there is no perfect solution... I am happy with less foreigners coming... must be adaptive....:D:D:D
No offense intended....know the system is pretty good now but we should still ask questions and seek to make it better as we have acknowledged that no system is perfect. That is what the garment is doing also, coming up with changes so frequently...
Sis, no offence taken.... What I am saying is no policy administered will please everyone... What we need to do is see how such policies affect us and what we need to do to make our lives better... bitching about the policies will not get us anywhere... if they change the policies to suit us, of course better... but most of the time, it doesnt happen... and if it does, it is a bonus... We need to take care of ourselves first, as we are not that rich leh....;)
To change the policies, you will need to gather support from the ground, but we are so diverse and many people have so many different views... so to get it changed will take a long time... second option, get into the system and voice the concerns directly to the policy makers (that you need to have a calling)... so while waiting, why not do something about it rather then make life miserable and waiting for changes from someone... why not make the change...
Make the change
http://www.azlyrics.com/lyrics/michaeljackson/maninthemirror.html
The problem here now is that the minimum sum is going to get much higher in future with CPF Life and many Sg will not be able to meet it and prob end up selling their flats and working till they die. Who is going to help them. I see people in their 70s coming for preemployment check ups and some have children too and it is because money no enough. Can we keep relying on increasing the working population CPF contribution and high COE prices etc to fund their retirement? Can we not use our reserves partly for that or more of our annual budget surplus? Is the strength of our currency dependent on our big reserves and why do we need to have such a strong currency until neighbours flood in and compete with us for jobs. I believe our currency cannot keep going up relative to others, they are many pros but we must also consider the cons. Do the ministers deserve such high salary when many are expected to work till they die?
The garment expects the old to cash out and retire in Iskandar too or downgrade to studio apartments that is why resale HDB prices are still kept high. This is happening for the older generation who have worked to build Sg but may not be for our generation. I would caution against depending on our property solely for our retirement as it may be risky in yhe future.
why do they have to sell their HDB?
I guess the rich like you are usually proPAP and do not really care about the poor...
Rich paying a lot more taxes though.
:confused:
Don't know but I know getting loan is tough and you need cash, lots of it;)
If u have sufficient in the SA acct then the OA can call be use for 2nd prop. i.e. 145K in SA.
Even the medicine you prescribed is much cheaper at the neighbouring countries. Well, the policy of teaching them to fish is still better than giving them fish. Unfortunately, with the rising cost, Garment has started to giving out fishes. This is the start of the problem as they will be asking for more fishes. This can be dangerous if it becomes political strategy. :)
unfortunately many want easy way out. The longer run to survive people need to learn to fish coz fish from the sky are not infinite.
No offense intended....know the system is pretty good now but we should still ask questions and seek to make it better as we have acknowledged that no system is perfect. That is what the garment is doing also, coming up with changes so frequently...
Well like all things someone gotta pay. the system works in a balance mode. something got to pay for something got to give.
Housing and Transport will still be the main focus of the coming election with healthcare still a big? :)
bro, bo pian..... If they dont listen to the woes of the people, they will lose more seats, then lagi worst....
I personally feel the complains from the people are also good... why??? can you imagine if we did not kpkb, how many foreigners will there be today???? I really cannot imagine so many foreigners in our country... Of course if they allow more foreigners in, I will buy more properties like crazy !!!! But that would be for financial gains but I will not enjoy staying in Singapore.. So there is no perfect solution... I am happy with less foreigners coming... must be adaptive....:D:D:D
Is it wise to use CPF for second property? :confused:
If u have sufficient in the SA acct then the OA can call be use for 2nd prop. i.e. 145K in SA.
Even the medicine you prescribed is much cheaper at the neighbouring countries. Well, the policy of teaching them to fish is still better than giving them fish. Unfortunately, with the rising cost, Garment has started to giving out fishes. This is the start of the problem as they will be asking for more fishes. This can be dangerous if it becomes political strategy. :)
asking for cpf higher rates is asking for fishes?
if cpf rates have been higher rates, would we need for ever increasing mininum sum?
would people ever asked to get from reserves?
Albert Einstein once said that if he had an hour to solve a problem and his life depended on the solution, he’d spend the first 55 minutes determining the proper question to ask. “For once I know the proper question, I could solve the problem in less than five minutes,” he explained.
please ask the right question.
Is it wise to use CPF for second property? :confused:
It depends on many factors :
age, goal, ability to make more money with cash vs cpf, risk appetite, etc... the list goes on... It becomes cheem when you do not know what you want and can do.....:D:D:D:D
Minimum sum is a good scheme. it makes individual responsible for their own retirement. Do you want to end up gov funding retirements for all retirees? This means more tax!
Some people are not asking question but just wait...
asking for cpf higher rates is asking for fishes?
if cpf rates have been higher rates, would we need for ever increasing mininum sum?
would people ever asked to get from reserves?
Albert Einstein once said that if he had an hour to solve a problem and his life depended on the solution, he’d spend the first 55 minutes determining the proper question to ask. “For once I know the proper question, I could solve the problem in less than five minutes,” he explained.
please ask the right question.
why do they have to sell their HDB?
If they don't have children to stay with and cannot afford the MS by then, do they not have to downgrade and sell to get the MS and the payout?
Is it wise to use CPF for second property? :confused:
Yeah, may not be...should not depend on rental too much...sum is too big...if want to get rental income, safer to buy reits as cash outlay and risk is lower, returns may even be higher...
If they don't have children to stay with and cannot afford the MS by then, do they not have to downgrade and sell to get the MS and the payout?
rent out a room or 2....
sell and move to JB...
take JB as an extension of Singapore...
If the farmer's crop does not yield, he needs to hunt for animals.... or he can keep chickens for eggs.... or he can go fishing.... Look for options that suit the individual... Does he expect the government to help him??? If 10% farmers are in dire straits, should government help??? If 80% of farmers in dire straits, should government help???
Should government invest in better agriculture methods and impart to the farmers???
What should government do???
Minimum sum is a good scheme. it makes individual responsible for their own retirement. Do you want to end up gov funding retirements for all retirees? This means more tax!
It is good but why the inflation used is not core inflation which is low? Someone mentioned inflation rate of 6% + in 2009 to explain the sudden hike from 5k increase to 11k increase. Why should they take into account housing and car induced inflation for retirees?
rent out a room or 2....
sell and move to JB...
take JB as an extension of Singapore...
If the farmer's crop does not yield, he needs to hunt for animals.... or he can keep chickens for eggs.... or he can go fishing.... Look for options that suit the individual... Does he expect the government to help him??? If 10% farmers are in dire straits, should government help??? If 80% of farmers in dire straits, should government help???
Should government invest in better agriculture methods and impart to the farmers???
What should government do???
Government should help all its citizens not just a percentage that ensures they get voted in. Then they are just power hungry...
If u have sufficient in the SA acct then the OA can call be use for 2nd prop. i.e. 145K in SA.
How old are you? Remember the MS will increase with CPF Life and Medisave also increase with Medishield Life and drawdown age and retirement age is being pushed back more and more. I think at this rate, by my time MS will be several hundred thousand!!
Government should help all its citizens not just a percentage that ensures they get voted in. Then they are just power hungry...
Which countries' political party will not say sweet nothing to buy votes???
you wish is idealistic.... it is not realistic... it does not exist??? They need to get voted in first...
Look at communistic country, do you think everyone is equal???? Did chairman mao ride in a car???? did he do physical work like the rest??? equal rites?? but people also get arrested??? why???
Make the most of life, no one but yourself will help you... sad to tgell you this??? See you studied hard to become a doctor - your own effort or someone else??? did some of your friends not make it????
Sad but true.. and the truth hurts like crazy !!!!
... I think at this rate, by my time MS will be several hundred thousand!!
why are you so fixated about increasing size of minimum sum ?? you know this amount is meant for your annuity (CPF Life), this would have otherwise been a tax that you simply paid, and have no claim upon.
and for 150k you get an annuity paying 1200 a month, this is a very fair deal. You dun believe, go out and ask for a quote for your self. Also dun forget the underwriter is the gov, real 0 credit risk. AIA, Prudential ? they almost failed in 2009.
You have to remember the purpose of this minimum sum. It's not meant for you to take out and splurge. Gov is indeed babysitting the population. By the time you retire, this sum indeed goes to several hundred k, it also means the monthly payout will be higher, which will be most likely due to inflation.
why are you so fixated about increasing size of minimum sum ?? you know this amount is meant for your annuity (CPF Life), this would have otherwise been a tax that you simply paid, and have no claim upon.
and for 150k you get an annuity paying 1200 a month, this is a very fair deal. You dun believe, go out and ask for a quote for your self. Also dun forget the underwriter is the gov, real 0 credit risk. AIA, Prudential ? they almost failed in 2009.
You have to remember the purpose of this minimum sum. It's not meant for you to take out and splurge. Gov is indeed babysitting the population. By the time you retire, this sum indeed goes to several hundred k, it also means the monthly payout will be higher, which will be most likely due to inflation.
But is the payout guaranteed? I would not mind so much if it were...
But is the payout guaranteed? I would not mind so much if it were...
it is "guaranteed" , insurance companies style. In fact, better than insurance companies, as the gov is the underwriter, who even has political reasons to deliver. (prime example: why CPF is paying 2.5% whereas no bank can pay >1% today)
it is "guaranteed" , insurance companies style. In fact, better than insurance companies, as the gov is the underwriter, who even has political reasons to deliver. (prime example: why CPF is paying 2.5% whereas no bank can pay >1% today)
Ok...have pm Sim Ann about my concerns but she seldom reads her facebook...hopefully it gets addressed if not have to get her no.
The inflation should be core inflation which is about 2% and not the inflation counting housing and cars since retirees do not need that...
....
and for 150k you get an annuity paying 1200 a month, this is a very fair deal. You dun believe, go out and ask for a quote for your self. Also dun forget the underwriter is the gov, real 0 credit risk. AIA, Prudential ? they almost failed in 2009.
.....
dont scare people until like that :)
SGS / SGSS of course 0 credit risk since it is denominated in S$.
UST also 0 credit risk since it is denominated in US$.
however, one fed / treasurer once said something to the effect, "the UST will always be redeemed, except i dont know what the value of dollar in the future" :)
if due to inflation, minimum sum is hundreds of thousands in the future lets say 2030, what value of would $1200 in 2030 for the current folks retiring in 2014. would the payout in 2030 be increased to match the the purchasing power in 2014?
2.5% versus FD by banks.
both are bad choices, although one is worse than the other. both doesnt beat inflation.
is cpf "force" to buy only SGS, SGSS bonds?
why can't cpf invest directly? for additional safety, ask HC and friends manage the fund :p
How old are you? Remember the MS will increase with CPF Life and Medisave also increase with Medishield Life and drawdown age and retirement age is being pushed back more and more. I think at this rate, by my time MS will be several hundred thousand!!
why would I worry? if my property continue to stay stable and increase with inflation 50% is covered with that and is inflation hedged.
u worry too much. to me the CFP is a security tax I am paying. its a shared risk with the other singaporeans.
Its a policy do you think without that CPF policy the employer would have paid their portion to us as income?
Also then it would mean i have pay direct taxation at high % . whats the point paying so high tax that other people who don't work will benefit from me slogging?. I rater not.
if after 30-40 years of working life, u only have 75k to invest, u better leave it in cpf....
if after 30-40 years of working life, u only have 75k to invest, u better leave it in cpf....
so simple logic but so very true...
if after 30-40 years of working life, u only have 75k to invest, u better leave it in cpf....
Agree with that...
why would I worry? if my property continue to stay stable and increase with inflation 50% is covered with that and is inflation hedged.
u worry too much. to me the CFP is a security tax I am paying. its a shared risk with the other singaporeans.
Its a policy do you think without that CPF policy the employer would have paid their portion to us as income?
Also then it would mean i have pay direct taxation at high % . whats the point paying so high tax that other people who don't work will benefit from me slogging?. I rater not.
If half the MS is from your property, the payout will not be 1200 right? If it still is then very good deal...can someone clarify?
So far have not use money from CPF to buy private property also don't know how much I have inside, only need to find out when needed else better don't go and waste time remember what you have inside, maybe mine is too little (44k) to remember. Ask my wife to transfer some to her account she also not interested.
dont scare people until like that :)
SGS / SGSS of course 0 credit risk since it is denominated in S$.
UST also 0 credit risk since it is denominated in US$.
however, one fed / treasurer once said something to the effect, "the UST will always be redeemed, except i dont know what the value of dollar in the future" :)
you didn't get the drift.
AIA , Prudential, Tokio Marine etc can all fail as commercial entities, well before you talk about S$ or US$ fails (which is sovereign risk).
In 2009, AIG already failed if not because of US bailout. Just imagine if there were no bailout, all your AIG/AIA insurance policies will be worth what ?
Similarly in 2009, Prudential almost failed. It has to borrow money loan shark style, paying 10%. (btw I took the risk and joined as the lender.)
Now we are facing gov as counterparty, that is the highest guarantee you can ever get. This is the only annuity worth getting, from government.
Of course if SG as a country fails, everything fails too, including CPF Life. That is why we must ensure SG does not fail. The current CPF system relieves the gov of most of the retirement welfare spending by design. This effectively makes this government very "difficult" to balloon its future liabilities, and that matters. A gov having no debt immediately gets its currency recognized as worth something. For now, all this government should do and must do, is to ensure our economy can still remain relevant for the next 100yrs, and find ways to remain relevant. This is the most important thing our gov should do. Not how to spend money to buy this and that welfare to make people happy.
Recall in Parliament, some MP ask.. this cpf life is not guaranteed hor... payout per mth also can change hor... so what so gd if govt cannot guarantee and giving us poor returns ? If only our cpf can keep up with their increase in min sum each yr cuting inflation of 5-6%. Then should pay us better rates rite?
What can you expect when GST is raised to help the poor?
Seems like GST is no longer useful to help the poor and hence we have min wages for the workers now! Seem like copying the Western countries all along the way from GST to min wages etc And then saying the Western countries ways are wrong? :o
May be time to remove GST since it can't help the poor and yet causing super high inflation now in Singapore which actually directly hit the poor the hardest? :p
I do help the poor by regular donations and sometimes after a hard day's work, give S$10 to a tissue peddlar.
What is wrong with discussion about something that concerns everyone. The rich should be taxed more and the poor less is that wrong? Or r all who surf this forum rich so allergic to such talk? Sg is too capitalistic a society and everyone just worships and chase after money. America was like that and it has fallen in power now, Sg should learn from their mistakes and not be overly capitalistic and more socialistic.
Why can't the government waive GST for basic necessities like rice, oil and milk powder? Do you know in Phillippines, a can of milk powder costs S$15 according to my helper while in Sg it is S$65 and even Malaysia S$40. If I am feeling the pinch from basic necessities , I cannot imagine how much more so the lower income.
What can you expect when GST is raised to help the poor?
Seems like GST is no longer useful to help the poor and hence we have min wages for the workers now! Seem like copying the Western countries all along the way from GST to min wages etc And then saying the Western countries ways are wrong? :o
May be time to remove GST since it can't help the poor and yet causing super high inflation now in Singapore which actually directly hit the poor the hardest? :p
They should remove GST for basic necessities like rice, oil, flour, milk,petrol etc like Malaysia. Why should these be taxed?
The joke I heard is that as long as you are breathing in Singapore and regardless of whether you are 1 day old or 100 years old, you need to pay GST taxes so that the rich and high income people can cut income taxes from 30% to 20%... :(
The biggest joke of all in Singapore is that you better die than need long term medication and care (unless you are rich) that is why there is GST on medicine and medical care when these are exempt in other countries!
They should remove GST for basic necessities like rice, oil, flour, milk,petrol etc like Malaysia. Why should these be taxed?
The joke I heard is that as long as you are breathing in Singapore and regardless of whether you are 1 day old or 100 years old, you need to pay GST taxes so that the rich and high income people can cut income taxes from 30% to 20%... :(
The biggest joke of all in Singapore is that you better die than need long term medication and care (unless you are rich) that is why there is GST on medicine and medical care when these are exempt in other countries!
Agree with you...that is why if I get cancer next time and it is advanced, I would rather die and go Heaven earlier than burden my family if money no enough...
Why should there be GST on basic healthcare...we should open our eyes and compare with other countries....we should not be unquestioning sheep lead by our noses to God knows where...
actually i am pro-pap :o, paiseh to disappoint you.
but that doesnt mean i am a 100% unquestioning follower.
you have already read my issues with PAP :)
wtf, a regulator head joining the industry he is regulating, in this case Far east.
Marc Boey - The group director of land sales and administration at URA plays an important policymaking role for the Singapore property sector and reports directly to URA's chief executive officer.
the shit is legal (since no CPIB), but it still stinks.
Some time when human have too much power for too long, slowly they start to think that They are not human anymore. Than They start to behave not like human anymore. Since God not human so God can become the player and God also become the Judge. When that start to happen then that is the sign that some one already cross the line.
I am sure our neighbours are also waiting for us to open books to they can learn from us or attack us too. What make you think like that. Please do not play high moral to yourself and then the rest of neighbors country is demon country.
What can you expect when GST is raised to help the poor?
Seems like GST is no longer useful to help the poor and hence we have min wages for the workers now! Seem like copying the Western countries all along the way from GST to min wages etc And then saying the Western countries ways are wrong? :o
May be time to remove GST since it can't help the poor and yet causing super high inflation now in Singapore which actually directly hit the poor the hardest? :p
WAHHH AHHA HHAH HAHH GST BS AGAIN?? u like a record player.!:doh::doh::doh:
They should remove GST for basic necessities like rice, oil, flour, milk,petrol etc like Malaysia. Why should these be taxed?
sure impose 45% tax on u ok? include ur overseas assests too. make it american style.
The joke I heard is that as long as you are breathing in Singapore and regardless of whether you are 1 day old or 100 years old, you need to pay GST taxes so that the rich and high income people can cut income taxes from 30% to 20%... :(
The biggest joke of all in Singapore is that you better die than need long term medication and care (unless you are rich) that is why there is GST on medicine and medical care when these are exempt in other countries!
u are the biggest joke lah. everyday GST, GST GST. dream of a island without tax . where things are free and no people.. opps.. there is!!!! a island without anything but u on it?
They should remove GST for basic necessities like rice, oil, flour, milk,petrol etc like Malaysia. Why should these be taxed?
oppss Malaysia have GST coming too... If we are like malaysia should be also have the same CRIME RATES like malaysia too?
FACT SINGAPORE IS NOT MALAYSIA.
oppss Malaysia have GST coming too... If we are like malaysia should be also have the same CRIME RATES like malaysia too?
FACT SINGAPORE IS NOT MALAYSIA.
Yes coming but basic necessities will be gst exempt.
Sgp r going over the causeway to buy all kinds of things to save costs until they have to disallow bringing certain things over like even burgers. Apparently, if caught have to eat it up or throw it away but cannot bring back...
i made enough now to last 3 generations, thank you.
Your above statement intrigue me to do some searching and this was what I found.... There are a lot more... Too lazy to read and post....
http://globaleconomicanalysis.blogspot.sg/2009/02/wealth-does-not-pass-three-generations.html
http://mindfuels.net/wealth-requires-effort/
http://randomthoughtsandguns.blogspot.sg/2014/04/why-inheritence-taxes-are-nothing-but.html
The issue is the 3rd gen whereby the 1st gen is not around to teach the 3rd gen... Maybe you can do video and pass to your 3rd gen...
For me, I only take care of the 2nd gen enough liao
:cheers1::cheers1::cheers1::cheers1:
Agree with you...that is why if I get cancer next time and it is advanced, I would rather die and go Heaven earlier than burden my family if money no enough...
Why should there be GST on basic healthcare...we should open our eyes and compare with other countries....we should not be unquestioning sheep lead by our noses to God knows where...
Which stage then it becomes expensive and how LNG it takes to die from that stage???.
What can you expect from a idiot like that? :eek:
What make you think like that. Please do not play high moral to yourself and then the rest of neighbors country is demon country.
If you have S$160K in your CPF SA, it will be self funded.
For the first S$60K, it earns 5% interests: $60K * 5% = $3K
For the rest S$100K, it earns 4% interests: $100K * 4% = $4K
So total interests are $3K+$S4k = S$7k
Enough to cover the S$7K increase.
Cheers!
Your above statement intrigue me to do some searching and this was what I found.... There are a lot more... Too lazy to read and post....
....
The issue is the 3rd gen whereby the 1st gen is not around to teach the 3rd gen... Maybe you can do video and pass to your 3rd gen...
For me, I only take care of the 2nd gen enough liao
:cheers1::cheers1::cheers1::cheers1:
out of sight, out of mind.
given the late marriages and late childbirths, i will get to see only grandchildren and not great grandchildren. probably i will die when the grandchildren are in their teens.
it is sad if wealth only last 2 generation, the grandfather see the little grandchildren live in poverty.
if wealth can last 3 generation, then i wont get to see the little great-grandchildren live in poverty, so no need to bother about little great-grandchildren so much.
out-of-sight, out-of mind.
out of sight, out of mind.
given the late marriages and late childbirths, i will get to see only grandchildren and not great grandchildren. probably i will die when the grandchildren are in their teens.
it is sad if wealth only last 2 generation, the grandfather see the little grandchildren live in poverty.
if wealth can last 3 generation, then i wont get to see the little great-grandchildren live in poverty, so no need to bother about little great-grandchildren so much.
out-of-sight, out-of mind.
Just remember to love oneself first lar.....
:cheers1::cheers1::cheers1:
"Greatest Love Of All"
I believe the children are our future
Teach them well and let them lead the way
Show them all the beauty they possess inside
Give them a sense of pride to make it easier
Let the children's laughter remind us how we used to be
Everybody's searching for a hero
People need someone to look up to
I never found anyone who fulfilled my needs
A lonely place to be
And so I learned to depend on me
[Chorus:]
I decided long ago, never to walk in anyone's shadows
If I fail, if I succeed
At least I'll live as I believe
No matter what they take from me
They can't take away my dignity
Because the greatest love of all
Is happening to me
I found the greatest love of all
Inside of me
The greatest love of all
Is easy to achieve
Learning to love yourself
It is the greatest love of all
I believe the children are our future
Teach them well and let them lead the way
Show them all the beauty they possess inside
Give them a sense of pride to make it easier
Let the children's laughter remind us how we used to be
[Chorus]
And if, by chance, that special place
That you've been dreaming of
Leads you to a lonely place
Find your strength in love
http://mycpf.cpf.gov.sg/Employers/Gen-Info/cpf-Contri/ContriRa.htm
For young employees without much CPF SA Balances, it can be a big problem.
The contribution cap is S$5K, and 6-8% goes into SA. That is S$5K * 8% = S$400 per month.
So each year, the contribution is S$400 x13 = S$5.2K
Cannot even catch up with the S$7K increases.
In other words, they may NEVER be able to meet MS with their SA.
The current one-size-fit-all MS has to be changed:
1. Each individual has different retirement requirements: S$1.2K is beyond lots of people can afford. (Well, most of the forumers here have no problem to get S$160K self-funding SA)
2. A better formula will be percentage of each individual's SA Balance will be MS. For example, 50% - 60% of SA Balance will be MS.
Thanks,
Which stage then it becomes expensive and how LNG it takes to die from that stage???.
Gen the higher the stage the poorer the prognosis. Some cancers are less aggressive like prostate cancer usually get when old but die from old age prob so a less scary cancer to get...some are aggressive...
Go for fecal occult blood and reg cxr and tumour marker screening. Commonest are colon and lung cancer...check yr hep b status and get vaccinated if promiscuous esp as sex transmitted and increases risk of aggressive liver ca.
with medisave usage in malaysia...use it for cost savings...it is a good thing...
Gen the higher the stage the poorer the prognosis. Some cancers are less aggressive like prostate cancer usually get when old but die from old age prob so a less scary cancer to get...some are aggressive...
Go for fecal occult blood and reg cxr and tumour marker screening. Commonest are colon and lung cancer...check yr hep b status and get vaccinated if promiscuous esp as sex transmitted and increases risk of aggressive liver ca.
with medisave usage in malaysia...use it for cost savings...it is a good thing...
Colon cancer is the no 1 killer now... I do colonoscopy every 5 years....
But medisave/shield etc... Should take care of it leh... This part, my wifey take care... I only take care of growing the money pot... Stirring it like a wizard. Hahahahaha
Ok... Here's the link
http://www.tcc.sg/medisave.html
Btw, do you trust Malaysia's healthcare????
I don't trust indonesia healthcare... My biz partner in indo was told by doctor in indo that he was fine... He decided to play save and flew to Singapore to meet specialist... The specialist told him to do immediate ops if not will be fatal... He always comes Singapore for check-up. He doesnt trust Indonesia doctors...
My Malaysian friend also don't trust Malaysian medical...
Interested to hear your opinion.
:)
Colon cancer is the no 1 killer now... I do colonoscopy every 5 years....
But medisave/shield etc... Should take care of it leh... This part, my wifey take care... I only take care of growing the money pot... Stirring it like a wizard. Hahahahaha
Since got money, I would do tumour marker screening once a year if older than 50 yrs old.
Since got money, I would do tumour marker screening once a year if older than 50 yrs old.
Even tumor marker got so many type... They will do the common ones...
Life so funny, young use health to buy wealth, old use wealth to buy health...
When young, no money to eat. When old, got money but cannot eat... Hahahaha
Btw, I am below 50 :cheers1::cheers1::cheers1:
Colon cancer is the no 1 killer now... I do colonoscopy every 5 years....
But medisave/shield etc... Should take care of it leh... This part, my wifey take care... I only take care of growing the money pot... Stirring it like a wizard. Hahahahaha
Ok... Here's the link
http://www.tcc.sg/medisave.html
Btw, do you trust Malaysia's healthcare????
I don't trust indonesia healthcare... My biz partner in indo was told by doctor in indo that he was fine... He decided to play save and flew to Singapore to meet specialist... The specialist told him to do immediate ops if not will be fatal... He always comes Singapore for check-up. He doesnt trust Indonesia doctors...
My Malaysian friend also don't trust Malaysian medical...
Interested to hear your opinion.
:)
Actually not very sure...my cousin came to sg for nephrotic syndrome treatment but 1 uncle was quite critically ill but was treated well I think liver cirrhosis and godpa had colon cancer and treated....at low costs...
Actually not very sure...my cousin came to sg for nephrotic syndrome treatment but 1 uncle was quite critically ill but was treated well I think liver cirrhosis and godpa had colon cancer and treated....at low costs...
Ok..... Thanks...
Me sticking with Singapore medical....
I think another good medical place is Bangkok.... Promoted as medical destination... Their facilities quite good...and price also good...
But again, I am sticking to Singapore medical...
Ok..... Thanks...
Me sticking with Singapore medical....
I think another good medical place is Bangkok.... Promoted as medical destination... Their facilities quite good...and price also good...
But again, I am sticking to Singapore medical...
Good for me and my medical friends then....:)
Good for me and my medical friends then....:)
Oh I no problem.... When I see specialist, first question is always : insurance paying???? And you know what happens liao. Hahahahaha
Ok..... Thanks...
Me sticking with Singapore medical....
I think another good medical place is Bangkok.... Promoted as medical destination... Their facilities quite good...and price also good...
But again, I am sticking to Singapore medical...
Remember to check yr bp, cholesterol and sugar yrly too if above 40 years old. Risk factors for heart attacks and stroke...
Yes coming but basic necessities will be gst exempt.
Sgp r going over the causeway to buy all kinds of things to save costs until they have to disallow bringing certain things over like even burgers. Apparently, if caught have to eat it up or throw it away but cannot bring back...
i wonder how is that policed. unless goverment sell direct. can factors the increase in to it. but dont pay goverment any GST. the sellers of provisions Huat ah!
i wonder how is that policed. unless goverment sell direct. can factors the increase in to it. but dont pay goverment any GST. the sellers of provisions Huat ah!
Vaguely remember reading something about it before but cannot recall...
But now customs jam quite bad because have to check for things forbidden to bring back to Sg...quite a long list of things so be careful if doing grocery shopping across causeway if not sayang have to throw away or confiscated....
What is wrong with discussion about something that concerns everyone. The rich should be taxed more and the poor less is that wrong? Or r all who surf this forum rich so allergic to such talk? Sg is too capitalistic a society and everyone just worships and chase after money. America was like that and it has fallen in power now, Sg should learn from their mistakes and not be overly capitalistic and more socialistic.
Well look at the bright side,the Gov realized that those days of easy money from property have made some Singaporeans lazy and non-productive people to society, they don't work just sit at home waiting for capital gains and rent cheques ... So the Gov has taken some steps to clamp down on home prices and rents ... and if vacancy rates spike and prices drop significantly, it may make these lazy people to get a job instead, thereby increasing the local workforce and CPF contributions ...
Well look at the bright side,the Gov realized that those days of easy money from property have made some Singaporeans lazy and non-productive people to society, they don't work just sit at home waiting for capital gains and rent cheques ... So the Gov has taken some steps to clamp down on home prices and rents ... and if vacancy rates spike and prices drop significantly, it may make these lazy people to get a job instead, thereby increasing the local workforce and CPF contributions ...
huh, govt is the biggest landowner and biggest landlord.
if price drop significantly, then the psf at govt land sales presumably drop.
so how do you reconcile your statement with the above "facts".
Well look at the bright side,the Gov realized that those days of easy money from property have made some Singaporeans lazy and non-productive people to society, they don't work just sit at home waiting for capital gains and rent cheques ... So the Gov has taken some steps to clamp down on home prices and rents ... and if vacancy rates spike and prices drop significantly, it may make these lazy people to get a job instead, thereby increasing the local workforce and CPF contributions ...
Is the strength of our currency just dependent on cheap loans from cpf...sometimes I wonder why we need to spend so much money on infrastructure like HSR even as it compromises security too and will take business away from SIA and overcrowd Sg....is all this building partly to prop up the economic figures just to show good growth in construction industry where jobs mostly go to FW anyway and the money from the taxpayors....wish there was more consultation with the people for the population white paper of 6.9 million...
Can the government convince the people the benefits of growing the population to 6.9mil. What benefits do we get? What are the tradeoffs and is it worth it...they should list it out clearly for the electorate to understand...now many are not convinced like me...
Is the strength of our currency just dependent on cheap loans from cpf...sometimes I wonder why we need to spend so much money on infrastructure like HSR even as it compromises security too and will take business away from SIA and overcrowd Sg....is all this building partly to prop up the economic figures just to show good growth in construction industry where jobs mostly go to FW anyway and the money from the taxpayors....wish there was more consultation with the people for the population white paper of 6.9 million...
Can the government convince the people the benefits of growing the population to 6.9mil. What benefits do we get? What are the tradeoffs and is it worth it...they should list it out clearly for the electorate to understand...now many are not convinced like me...
Because you are train to save life, not in economic, business, politic and defense.
Can the government convince the people the benefits of growing the population to 6.9mil. Learn from Japan http://qz.com/162788/japan-is-rapidly-losing-population-and-half-the-world-is-about-to-join-it/, read the white paper http://population.sg/.
Because you are train to save life, not in economic, business, politic and defense.
Can the government convince the people the benefits of growing the population to 6.9mil. Learn from Japan, read the white paper.
how can you say people like that?
you yourself are trained as airforce technician, not in economic, business, politic and defense.
and when 6.9mil is reached in 2030, and still birth rate 1.2 ?
what then? another population white paper for 10m?
huh, govt is the biggest landowner and biggest landlord.
if price drop significantly, then the psf at govt land sales presumably drop.
so how do you reconcile your statement with the above "facts".
The Gov had already sold so much land that there is an impending oversupply. According to URA, developers still have over 30000 unsold units. Vacancy rates have been increasing and developers have been making lower land bids.
The Gov will still be getting increase revenue from higher property taxes on investment properties and property taxes for vacant properties, and Gov may also get additional revenue from developers for QC extension charges.
how can you say people like that?
you yourself are trained as airforce technician, not in economic, business, politic and defense.
and when 6.9mil is reached in 2030, and still birth rate 1.2 ?
what then? another population white paper for 10m?
Which part is not the truth? I am still learning about economic, business, politic and defense but not french.
Because you are train to save life, not in economic, business, politic and defense.
Can the government convince the people the benefits of growing the population to 6.9mil. Learn from Japan, read the white paper http://population.sg/.
and what are you trained in, may i ask? such a condescending tone u have there.
when the experts and top brains in the govt cannot even convince themselves the benefits and solve the problems of overcrowding this island, i wonder how a lay person like you can do better, lol.
Which part is not the truth? I am still learning about economic, business, politic and defense but not french.
you are dismissive of mummy's legitimate views and concerns because of she is not trained in the economic, business, politic and defense.
i am holding a mirror. you are also not trained in the economic, business, politic and defense.
and the question what then after 2030? another increase to 8million in 2040?
you are dismissive of mummy's legitimate views and concerns because of she is not trained in the economic, business, politic and defense.
i am holding a mirror. you are also not trained in the economic, business, politic and defense.
and the question what then after 2030? another increase to 8million in 2040?
First you look at the problem, then you find a solution, when you are on the way and find the solution is no good you look for a better solution. Doing nothing is not the solution.
Is the strength of our currency just dependent on cheap loans from cpf...sometimes I wonder why we need to spend so much money on infrastructure like HSR even as it compromises security too and will take business away from SIA and overcrowd Sg....is all this building partly to prop up the economic figures just to show good growth in construction industry where jobs mostly go to FW anyway and the money from the taxpayors....wish there was more consultation with the people for the population white paper of 6.9 million...
Can the government convince the people the benefits of growing the population to 6.9mil. What benefits do we get? What are the tradeoffs and is it worth it...they should list it out clearly for the electorate to understand...now many are not convinced like me...
I'm against 6.9M, it would be severe overcrowding from housing to public transport to hospitals etc ... Singapore is already the most densely populated country in the world after Monaco.
At 6.9M, Singapore's population density will be 9700 people per sq km ! At 6.9M, Singaporeans will be a minority in our own country !
I'm against 6.9M, it would be severe overcrowding from housing to public transport to hospitals etc ... Singapore is already the most densely populated country in the world after Monaco.
At 6.9M, Singapore's population density will be 9700 people per sq km ! At 6.9M, Singaporeans will be a minority in our own country !
So what is your solution.
and what are you trained in, may i ask? such a condescending tone u have there.
when the experts and top brains in the govt cannot even convince themselves the benefits and solve the problems of overcrowding this island, i wonder how a lay person like you can do better, lol.
You can be train in economic and still don't understand what is money.
First you look at the problem, then you find a solution, when you are on the way and find the solution is no good you look for a better solution. Doing nothing is not the solution.
problem is easy to identify. ageing society and declining birth rate?
solution is increasing birth rate.
how does singapore reclaimed land? does it use buckets of sand or bargeloads of sand.
how does singapore build jld? does it build 1 building this year, see no effect, then build another building 10 years, see no effect, then another 10 years later again?
or does it build lots of buildings in short space of time?
I'm against 6.9M, it would be severe overcrowding from housing to public transport to hospitals etc ... Singapore is already the most densely populated country in the world after Monaco.
At 6.9M, Singapore's population density will be 9700 people per sq km ! At 6.9M, Singaporeans will be a minority in our own country !
As much as I am not for the increase, the question is what is the effect of aging population??? See what happened to Japan. What if other countries overtake us??? What other resources do we have other than manpower??? Do you have faith in the govt??? Do you have faith with Singapore, moving forward???
I do not have answers... But I do take precaution....
So what is your solution.
Solution is to moving overseas like you ?
I'm against 6.9M, it would be severe overcrowding from housing to public transport to hospitals etc ... Singapore is already the most densely populated country in the world after Monaco.
At 6.9M, Singapore's population density will be 9700 people per sq km ! At 6.9M, Singaporeans will be a minority in our own country !
I agree with you...I am against it too...
sometimes also dun understand why we need so many confusing and almost parallel mrt lines...hope our soil structure takes it and no man made disaster like Nicoll Highway collapse or tunnel collapse...already seeing sinkholes in the road is it not a warning sign of over construction?
problem is easy to identify. ageing society and declining birth rate?
solution is increasing birth rate.
how does singapore reclaimed land? does it use buckets of sand or bargeloads of sand.
how does singapore build jld? does it build 1 building this year, see no effect, then build another building 10 years, see no effect, then another 10 years later again?
or does it build lots of buildings in short space of time?
Just give us free university education and childcare subsidies and I guarantee birthrate will shoot up instead of spending so much money building and tearing down and building again...uni fees are so high competing with retirement funds...that is the main reason why I do not want more kids...
I agree with you...I am against it too...
sometimes also dun understand why we need so many confusing and almost parallel mrt lines...hope our soil structure takes it and no man made disaster like Nicoll Highway collapse or tunnel collapse...already seeing sinkholes in the road is it not a warning sign of over construction?
Mummy you are good, now you go into Pedology.
Just give us free university education and childcare subsidies and I guarantee birthrate will shoot up instead of spending so much money building and tearing down and building again...uni fees are so high competing with retirement funds...that is the main reason why I do not want more kids...
Do you know how many gradate completed their study in China have a year.
What you said is really true for those REITs and their bosses, including MapleTree, CMA, CMT, etc? :scared-1:
It is a pity that no serious action has been taken to rein in the escalating commercial rents, which have resulted in businesses passing all such costs to consumers and high inflation in Singapore! :banghead:
Well look at the bright side,the Gov realized that those days of easy money from property have made some Singaporeans lazy and non-productive people to society, they don't work just sit at home waiting for capital gains and rent cheques ... So the Gov has taken some steps to clamp down on home prices and rents ... and if vacancy rates spike and prices drop significantly, it may make these lazy people to get a job instead, thereby increasing the local workforce and CPF contributions ...
You can be train in economic and still don't understand what is money.
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