Minimum sum spin: People who can meet minimum sum increased

[theDoors]

Title : Percentage of CPF members meeting Minimum Sum on the rise: Tharman
By :
Date : 05 March 2012 1703 hrs (SST)
URL : Percentage of CPF members meeting Minimum Sum on the rise Tharman - Channel NewsAsia


SINGAPORE: The percentage of active CPF members who meet their Minimum Sum at age 55 has been improving over the years, from 36 per cent in 2007 to 45 per cent in 2011.

Speaking in Parliament, Deputy Prime Minister and Manpower Minister, Tharman Shanmugaratnam said this will improve with each successive cohort, as educational profiles improve and lifetime incomes rise.

Fewer S'pore citizenship, permanent residency granted report - Channel NewsAsia

Another issue for the government involves the CPF minimum sum requirement, where S$123,000 must be set aside for retirement.

In 2009, only 49 per cent of workers were able to meet the requirement upon reaching 55 years old.

This raises concerns over the ability of the elderly to depend on themselves in retirement, and the potential need for more support from the government.

Prof Yeung said: "Older people rely a lot on their children to support them. And now a large proportion of people don't even get married or have children. So that means they are going to need to accumulate enough on their own, or the government will have to increase their support to the elderly population."

The report looked at six broad areas, including sustainable economic growth and building a cohesive society.

There are plans to publish the report every two years.

- CNA/al

Mainstream media is spinning again.

2009 49% were able to meet minimum sum
2011 45% were able to meet minimum sum

The number of people who CANNOT meet minimum sum INCREASED.

 

[batman1]

Who is the scheming bastard who started the minimum sum scheme ?
Come on,when u are 55 yo retired age we CPF members still don't know what to do with our CPF money ?
It is better that we CPF members use our CPF money than let Ho Jinx lost our CPF money in overseas investments !
Scrap the stupid minimum sum scheme !!!
What if CPF members are sick,poor or jobless betweem 55 yo and 65 yo and need money for daily survival ???
When u cannot even keep your stomach full NOW,they want to talk about monthly withdrawal in the FUTURE ???
Putting the cart before the horse ???
KNNCCB to PAP !!!

 

[Bigfuck]

Who is the scheming bastard who started the minimum sum scheme ?
Come on,when u are 55 yo retired age we CPF members still don't know what to do with our CPF money ?
KNNCCB to PAP !!!

The deceased Toh Chin Chye raised that statement in Parliament in 1984 - do not tell me how to spend my money. FYI, SA was created 1977. After that PAP got creative to add another account. The main reason should be attributed to the running out of ideas after our brilliant PAP subjected us to a technical recession in 1985 by taxing employers with CPF till 25%. BTW, interest rates in from 1974 to 1986 were 6.5%. 50% contribution by 1985. Wah lao. I feel so cheated.

 

[zhihau]

Mainstream media is spinning again.

bro,
me think raw figures beats percentages anytime
next thing to ask, these figures got include the PRs or not?

 

[Bigfuck]

bro,
me think raw figures beats percentages anytime
next thing to ask, these figures got include the PRs or not?

Raw is war as brothers from the other bandit mountain forum will tell you

 

[zhihau]

Raw is war as brothers from the other bandit mountain forum will tell you

raw is war indeed, then we find out who are the survivors, the locals or the PRs

 

[djent]

Now Spinning - People who can meet Minimum Sum increased

Later Spin - Minimum Sum to be increased

 

[po2wq]

... The number of people who CANNOT meet minimum sum INCREASED.

who is dat minimum sum? ...

sum hot chick? ...

y dey make it dat so many folks cant get a date wif her? ...

 

[KuanTi01]

This damn minimum sum keeps getting maximised. The ceiling keeps going up and up while our health keeps gong downhill; our salaries,personal wealth and standard of living stagnates and our quality of life becomes minimised. Yeah man, who's the evil schemer/originator of this evil scheme? If a national referendum is held, I dare say the likely % voting against will be in the high 90s!

 

[freedalas]

This damn minimum sum keeps getting maximised. The ceiling keeps going up and up while our health keeps gong downhill; our salaries,personal wealth and standard of living stagnates and our quality of life becomes minimised. Yeah man, who's the evil schemer/originator of this evil scheme? If a national referendum is held, I dare say the likely % voting against will be in the high 90s!

It's heartening to note that whenever the PAP announced anything on CPF, fellow forummers are quick to come here to discredit it. They are doing a great service to all S'poreans to highlight the PAP lies.

To anyone reading this, please remember. Any CPF scheme designed by the PAP is not with the people's interest in mind. It's PAP interest that they are trying to further. The schemes are cleverly disguised as if to benefit the people. But nothing is further from the truth. PAP's whole purpose is to keep our CPF monies as long as possible with them as they are the cheapest source of funds for GIC and Temasek to gamble with. And recently, they lost so many billions that all the more they need our CPF monies and that's why they are coming out even more schemes at a faster pace to retain our monies for the longest possible. So please remember, when it comes to our CPF monies, never, never, never trust the PAP.

 

[NoNewsGood]

Who is the scheming bastard who started the minimum sum scheme ?
Come on,when u are 55 yo retired age we CPF members still don't know what to do with our CPF money ?It is better that we

Many 55 yo and above men got conned by PRCMM and lost every cent. Hard truth.

 

[rusty]

Fucking bastards, why CPF was never an issue during election?

 

[wMulew]

Many 55 yo and above men got conned by PRCMM and lost every cent. Hard truth.

It's those fucking losers who use their dicks to think that coz us to have to get back the moneyh in installments instead of 1 shot

 

[wMulew]

Mainstream media is spinning again.

2009 49% were able to meet minimum sum
2011 45% were able to meet minimum sum

The number of people who CANNOT meet minimum sum INCREASED.

U damn 1 kind. Purposely left out this part

He said among those starting work now, about 70 to 80 per cent should be able to attain the current level set for the Minimum Sum in cash, by the time they retired, adjusted for inflation, even after they have withdrawn money for a home.

 

[keling is shit]

U damn 1 kind. Purposely left out this part

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1187085/1/.html

you go and read the original report 1st then say. pap deliberately witheld that info. that info about more ppl actually not meeting cpf minimim sum is added in by some forummer who noticed the pap lie.

 

[Narong Wongwan]

This damn minimum sum keeps getting maximised. The ceiling keeps going up and up while our health keeps gong downhill; our salaries,personal wealth and standard of living stagnates and our quality of life becomes minimised. Yeah man, who's the evil schemer/originator of this evil scheme? If a national referendum is held, I dare say the likely % voting against will be in the high 90s!

If 60.1% of sinkies grew a pair no need for national referendum....kick the MIWs out and change back to 55 years old withdrawal.....but by then maybe too late liao....

 

[Narong Wongwan]

Who is the scheming bastard who started the minimum sum scheme ?
Come on,when u are 55 yo retired age we CPF members still don't know what to do with our CPF money ?
It is better that we CPF members use our CPF money than let Ho Jinx lost our CPF money in overseas investments !
Scrap the stupid minimum sum scheme !!!
What if CPF members are sick,poor or jobless betweem 55 yo and 65 yo and need money for daily survival ???
When u cannot even keep your stomach full NOW,they want to talk about monthly withdrawal in the FUTURE ???
Putting the cart before the horse ???
KNNCCB to PAP !!!

KNNCCB more to the 60.1%....fuck those cheebye kias

 

[wwabbit]

Fucking bastards, why CPF was never an issue during election?

Every country has a pension/social welfare scheme, ours is the CPF. It's a necessary evil and the government has to balance taxing and providing pensions. In politics, it's generally something that candidates all over the world steer away from because it's damn near impossible to find a better solution that will satisfy the needs of the system without getting into long drawn debates that voters don't really understand anything about.

 

[wMulew]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1187085/1/.html

you go and read the original report 1st then say. pap deliberately witheld that info. that info about more ppl actually not meeting cpf minimim sum is added in by some forummer who noticed the pap lie.

This is expected coz they are pushing up the min sum till $120K(2003 money). It will be done annually until it reach the target in 2013.

http://mycpf.cpf.gov.sg/CPF/my-cpf/reach-55/Reach55-2.htm

Obviously those started out before that scheme will struggle but there is a need to raise that amt since they found the previous amt to be insufficient. The real test will be seen after 2013 when the adjustment stops and see if the number of pple who can meet the min sum will go up

It's the same reason why we don't get money back monthly over 20 years instead of everything at once. Because the old dudes in the past screwed us. Something needs to be done for them or U can continue to leave them to rot once they collect their money.

The CPF needs to evolve as the population needs change.

 

[yahoo55]

This damn minimum sum keeps getting maximised. The ceiling keeps going up and up while our health keeps gong downhill; our salaries,personal wealth and standard of living stagnates and our quality of life becomes minimised. Yeah man, who's the evil schemer/originator of this evil scheme? If a national referendum is held, I dare say the likely % voting against will be in the high 90s!

As the population ages, you can expect many more adjustments from PAP to make it even more difficult to get your CPF money. The minimum sum and withdrawal age will continue to rise in the coming years. CPF is PAP's manipulation tool to avoid spending any Govt money on old age pensions for citizens.