Tan chuan-jin: I am 'optimistic' that young s'poreans can reach cpf minimum sum

[h=1]TAN CHUAN-JIN: I AM 'OPTIMISTIC' THAT YOUNG S'POREANS CAN REACH CPF MINIMUM SUM[/h]
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8 Jul 2014 - 7:59pm





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Speaking about CPF in Parliament, Minister for Manpower, Tan Chuan-Jin said that the government is "optimistic" that younger Singaporeans will be able to meet the CPF Minimum Sum for when they turn 55.

He had earlier emphasised that it would be "irresponsible" for the government not to raise the minimum sum regularly.

This, he justified was because life expectancies are getting longer and so our retirement years are changing. Coupled with inflation, these issues mean that we can no longer just hold onto old rules.

Mr Tan explained that wages in Singapore have been increasing and the labour force participation rate is also increasing so more and more Singaporeans are working for higher pay.

This can help them to achieve the minimum sum in their CPF accounts even if it is increased each year.

Mr Tan emphasised that the CPF minimum sum is cohort based so that raising minimum sum does not impact those of previous cohorts who have already turned 55. Those who are already older than 55 only had to meet the minimum sums that were set for their years.

One area of concern is that Tan Chuan-Jin has described the government as "optimistic" when saying that young Singaporeans will be able to meet their minimum sums.
Those who are "optimistic" tend to believe in the possibility of the desirable outcome even if the probability of achieving that is low.

Does this imply that many Singaporeans may struggle to meet minimum sum but the government will just happily continue to believe and 'hope' that Singaporeans will be able to meet it?

How much is his pay as compared to a common man on the street?

yeah give this man a tiger !:oIo:

Talk also need to use brain. What did he base his optimism on?

He think everyone's as highly paid as him?

Scrooball (clone) said:

Talk also need to use brain. What did he base his optimism on?

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His prediction is based on secretive assumptions.

He's actually saying that he doesn't feel optimistic that some elderly Sinkies can reach CPF minimum sum.

Ah Tan, I am not only optimistic of your incompetence, but I also can confirm it.

He didn't ask people to kee chiu just like his comrade-in-arm

Tan Chuan Jin never use brain when he talks. Did he pass his PSLE?

last figures were 70% not hitting it I think. Is money going to rain from the sky? Or salaries will double?

Any idiot can easily accumulate twice the minimum sum if they plan their finances prudently.

Leongsam said:

Any idiot can easily accumulate twice the minimum sum if they plan their finances prudently.

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including old cleaner woman who lost $400k of her savings to strangers. if an old uneducated woman with a low-paying job can save that much, anyone can. her savings would still be safe if she kept it with the cpf. :p

Leongsam said:

Any idiot can easily accumulate twice the minimum sum if they plan their finances prudently.

Click to expand...

Boss I have lots respect for you one. But when you say any idiot like if implying yourself I feel hurt becos you choose money to insult yourself

Unless TCJ knows the targeted amount to meet, which could be $1 million, on what basis is he optimistic that young Singaporeans can meet?

Scrooball (clone) said:

Tan Chuan Jin never use brain when he talks. Did he pass his PSLE?

Click to expand...

His Ministry is currently sending all employers to jail. Who is going to pay the worker?

minimum sum can go up by 5-6% every year

but the 2.5% interest rate has stayed at 2.5% for how many years already?

We ordinary citizens are sick of your smoke bombs and ever changing goalposts and therefore absolutely not optimistic !

Give us back all OUR hard-earned CPF at age 55 NOWWWW as per past practice!!!

It is OUR rightful money from years of toiling !!:oIo:

So many graduates are jobless nowadays.

So many foreign "talents" steal away sinkie jobs.

For those jobless they dont even know when will be their next meal.

Wat the hell is TCJ opitimistic about?

When one lives in an ivory tower, one can afford to be so optimistic! This MIW earns millions of $ for being a mediocre salesman/spokesman for the ruling party. Who is he to make such broad assumptions? Incredibly naive.

Scrooball (clone) said:

Tan Chuan Jin never use brain when he talks. Did he pass his PSLE?

Click to expand...

How to use his brain when he never had one, to start with.
His vocabulary was limited, until the time he left the army:

"Yes Sir"
"No Sir"
"How high sir" when he was asked to jump.

He thought he was smart to say things like...the Minimum Sum figure affected only to the respective co-horts.
It is such a basic tenet that he thought the rest of us are fools not to understand that when HE is the village idiot.

'Optimistic' is the word to describe the people queuing at 4D outlets. CPF holders need more than just the word from you.