I smell roses for too long until bored and must find some amusement to poke fun at those LIARS and BULLSHITTERS!
Why, you just recently got chance to smell roses is it and hence still not bored?
Wait till you smell roses for as long as me then you will know my feeling...........
Wah, you quite old hor. Then mustn't get too worked up leh,,.. take more care of your health..... learn to relax and enjoy life..... find things you like to do.... like travelling, exercising while you still can....
I have always taken time to smell roses since young and still continue to enjoy. Hahahaha.....
Being able to see behind smoke screens and have sharp thinking to realize the "important questions" and things hidden is what keep me sharp as hell even till now..........
Don't relax and smell rose too much without using your brain (like what you are showing now) else you may become senile very fast! Don't say I never warn you! I have seen too many cases of friends becoming like that thinking that they finally can relax and smell roses and then a few years later become senile liao!
Not having sharp thinking is a sign of the start of "senility"............
Agree.... must keep brain sharp. Must also be physically fit. My recent tour to Russia, Wah lao, I saw people 60+ walking so slow. And there were quite a few. Must work the brain but must also work the body. Need to exercise at least 1 hr a day and get a good cardio work out. Don't be a key board warrior too much. Don't get agitated too much also when old. I have seen many people kana stroke, heart attack because they did not exercis. So please do not only focus on brain, go for exercise as well. Don't say I never warn you.....
Oh btw, don't get so upset easily, it is no good for the not so young. If you are not upset (maybe I read too much into your replies), good for you. Remember, good brain is important, but quite useless if not fit.....
Jog if you can, if not go for brisk walk. If cannot, go for slow walk...
Good night.
Envious of you guys. I am still trying to smell roses one day. Just finished today's work.
I agree that exercise is very important and one shouldn't start too late (too old). Yawns... Bedtime.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Man fined for insulting public officer
======================
Chan was previously placed under the MSF-run ComCare scheme, which provides financial aid to needy Singaporeans for fixed terms. The offence arose when he applied for an extension in March last year but did not disclose as required that he had withdrawn $147,538 from his Central Provident Fund (CPF) account on turning 55 in October 2015.
This failure to disclose made him ineligible for an extension and set off a chain of events that led to the July 27, 2016, meeting with Ms Aw, at which he was expected to show documentary proof of how he exhausted all his CPF funds within five months.But at the meeting Chan was uncooperative, kept challenging the two officers and insulted Ms Aw. A CCTV record of the meeting was tendered in evidence.
That's the life expectancy for TODAY la, aiyoh.
Like that for the 1962 cohort, the life expectancy should 60-years + according to the chart. LOL
You mean the life expectancy 30 years later in 2047 is the same as today?
Don't have to take my words for it, you can calculate it from the pricing of CPF Life annuity for the 1962 cohort.
It's just a simple calculation la.
Another instance of looking at data but don't know what it meant.
Sounds good on paper, only that may be he would die 2 years later and the return is -50% (not 4.88%)!
Remember: Actuary is the smartest person in finance (this I agree with Hakuho) - who can ensure that the insurance company they work for will 100% guaranteed make PROFITS! (If no profit they will be SACKED!)
As you said: "That's the life expectancy for TODAY"! For those born in today!
Remember: Actuary is the smartest person in finance (this I agree with Hakuho) - who can ensure that the insurance company they work for will 100% guaranteed make PROFITS! (If no profit they will be SACKED!)
http://www.tablebuilder.singstat.gov...ion?refId=3612
If I interpret correctly, those born in 1960 have life expectancy of 60 plus years.
Now you got it right!
For 1962 birth cohort, most will never live pass 70 years old (for men) and 74 years old (for women), let alone 85 years old!
So, isn't the actuary the smartest finance people who can ensure that their insurance company employer sure make HUGE PROFITS?!
Yah, enjoying!
On a side note, only a very small number of 1962 cohort will live long enough to get a return of 4% p.a. interest or more on their CPF Life after 65 years old (may be <10%?) while the rest majority will get little interest and quite many will get TAXED for dying too early (based on the actuary age of 85 years old)!
So take those who die young to subsidize those who live long long don't want to die, so there are still like 80% profits out of the 4% p.a. interest to make?
Imagine 1M CPF Life members, each must contribute $166,000 to CPF Life at age 55 and would have S$258,000 at age 65 years old,
so 3.2% p.a. of that amount = S$8.256 BILLIONS p.a.!
So, do all these money go into accumulated unpaid surplus of CPF Life or what percentage as management fees and profits for CPF?
Last edited by teddybear; 18-08-17 at 14:54.
No need to think so much.
If short lived why need so much returns? Really not your basah what your children or spouse get. They should settle their own planning.
The CPF life is more of a defence against those who do not have any investments and yet live extraordinary long, in a manner that is responsible and does not affect the taxpayers of tomorrow.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
The Department of Statistics of Singapore is not playing God. It cannot (and unable to) determine the life expectancy of new babies.
The Life Expectancy of a cohort, say 1962, compiled is the mortality profile of ALL age cohorts in that year. The mortality rate is a reflection of the conditions of healthcare, safety & security, education etc prevailing. As these conditions improved over the previous years, the mortality rate declined.
The 1962 cohort has obviously enjoyed the improvement of these conditions, and therefore its life expectancy is NO LONGER according to the mortality profile of 1962.
New babies are but a clean reference point in the statistics that says, should these conditions remained THE SAME IN FUTURE, the babies are EXPECTED to live as long as the mortality profile captured for that year.
I am surprised by the level of ignorance of the some seniors of this forum. LOLOL
Very enlightening..... as in
https://en.m.wikipedia.org/wiki/Life_expectancy
So teddy is wrong?????
Thanks for spending time and effort to highlight the ignorance and shoot down the bullshitter in this forum who is spreading his propaganda. His 10000+ posts in this forum are full of craps and repeating the same allegations and yet he is just ball-less to ask the authorities.
I am also surprised by the state of ignorance (or they are out to spread half-truth?) of some people like Hakuho who tell us that:
"For the 1972 cohort, the actuary acting for CPF Life determines that the life expectancy as 85. He should live AT LEAST until the age 85.
(please don't argue why 85 and not 90 etc, the actuary is one of smartest person in finance so we should trust his data)...."
Come on, only stupid people will believe in the actuary and his data because ask yourself, what is the job of the actuary?
The job of an actuary is really, to make statistical calculations and determine the insurance premiums (with lots of buffer) to ensure that the insurance company employer they work for will make HUGE PROFITS on their insurance scheme (regardless of life annuity scheme, life insurance scheme, endowment scheme etc)!
What if their calculations result in their employer's insurance scheme losing money? This is a no-brainer - they will be SACKED!
Obviously the Department of Statistics cannot predict accurately how many people will die by certain age when they have not died yet! For 1962 cohort, the statistics will continue to be updated but as of now, their average life span, taking into consideration medical advances, people more aware of their diet and leading healthier life style, is only 60+ years old and hence this is not great, not to mention that their statistics have already been exaggerated by trying to take into consideration longer life-span of the younger generation. Since this is the case, why the actuary determines their life expectancy to be 85? Knowing what is the job an actuary, the answer is also no-brainer! Only the stupid and those with hidden agenda will argue otherwise!
You talk so much half-truth as though you are an expert in CPF Life but you still cannot answer my following questions?:
1) What interest rate CPF is paying for unpaid retirement accounts' balance money after you are over 65 years old?
CPF Board's webpage states that CPF pays about 4% p.a. interest for your retirement money.
However, you claimed that CPF pays 0% interest after you are over 65 years old (and in doing so claimed that CPF is lying with those statements!). Is this really so?!
2) What is the accumulated unpaid surplus CPF Life has accumulated now?
3) How much is CPF Board charging as management fees for managing CPF Life?
4) Where is CPF Life's annual financial statements and report?
5) Why CPF Life's payout and Bequest is a range and not a fixed figure? Why they cannot give the fixed figure for that year's cohort since they are paying a fixed figure and not a range? Otherwise how they determine to pay at the high end or the low end of the range? (I would definitely take the lowest figure if given a range in such case just to be conservative).
6) How CPF derives the Bequest and monthly payout amount to pay? (obviously they made many assumptions such as average age that the men and women died etc and what are these?)
Until CPF is transparent about the CPF Life's financial accounts etc, all those talks and claims by Hakuho, chestnut, Amber etc are just EMPTY talk, speculations, blind claims, just like those hearsay and rumours from coffeeshop talk!
This thread has gone into hundreds of pages now, and YET NOBODY can answer my above Questions??????????,
including all those who try to rubbish my statements and my questions, and trying to give bullshit explanations, claims, half-truths all "explained" like never explain because these people either don't use their brains (or they have hidden agenda?), the most critical questions still nobody question and answer, and up to now CPF is not telling......................
It is surprising that even "factually" website is not explaining.
You know, "factually" website seems to be very diligent to act fast on coffeeshop rumours/talks (not based on questions to authorities - because those would have been answered by the authorities). Otherwise I suppose "agents" like Hakuho, minority and laohero would have also informed them about? No????????
Looking forward to their answers (because these would help to dispel all those rumours from coffeeshop talks)!
Some people so sad, search but cannot find.....
Some smell roses until immune, then become bored ladies,
Aiyah, some so frustrated at not finding answers from government and always complain, so sad.
This ladies need to do meditations and yoga.... hahahaha
Come to think of it, lucky I still can smell roses and enjoying life. Heng ah.... hahahaha... better not bother with this pips, hahahaha, just continue to smell my roses. Best don't respond to such people or kana their disease. Hahahaha
Some people think smell roses mean stick their head in the sand and don't think and life will be good........
These are the kind of people who just managed to be able to smell roses..............
They still not experience or know people around who smell roses like them as they do and then very quickly become senile..............
Stupidity as do stupid do.........................
Hahahahahahaha my condolence to your 'friends' . Hahahahaha... may you find happiness and peace and non senile in your life. Hahahahaha... try to smile more... if not got a lot of wrinkles.... very ugly one... very funny, u search for answers cannot find and call yourself smarter???? I am confused. Hahahahaha....
Last edited by chestnut; 20-08-17 at 00:22.
Life without principle - people’s greed and obsession with money .
Some bankers who were in distress as their performance score being at the bottom of the sales team. She/he may lose her job if she/he doesn’t talk their customers into buying a high-risk, high-return investment package to housewife , retiree , low risk investors etc. High-risk , high return investment included equity-linked notes (ELN / FCN etc) , foreign-currency options and accumulative forwards, knock-out daily accumulators, high-yield bonds (Junk bond) and equity options.
They would show the chart the past performance 10% return of that investment product. But they did not highlight the real risk if the mkt turn bad & will drop >30% if it happen. In order to get the investors to buy. She/he would get them to change their investment risk profile from low to higher risk in order to execute the trade.
Banks obsession with Profit & pass on HIGH risk or JUNKs products to GREEDY ignorant investors.
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DBS was selling Leveraged Swiber Bonds to Clients .
“I was simply following the advice of my relationship manager, who never told me much about the company. I just thought, a bank in Singapore, with this much regulation, would not recommend risky investments”. I just signed whatever papers the relationship manager gave me.”
A 34 year young lady Laura also have a problem now. What made her a unique case study is that she is also a banker:
“My banker said DBS could lend me money to invest, so I’m 50 per cent leveraged on Swiber bonds. Now they’ve defaulted, I’m asked to pay the bank $250,000.
Retiree Jeremy Tan, 77, who has sunk in $2.25 million, said, “Many issuers such as AusGroup and Marco Polo Marine are restructuring but Rickmers has proposed the worst deal.”
HAVE TRUST IN OUR CPF system.