The truth why we dont receive all our CPF at 55.

[psy83]

Govt and OUR DEAR LOVER lky says that this is due to the fact that Sinkies like going to Batam every weekend and will spend all their money there within a month and will start asking society to care of him or worst his entire family or Sinkies going to geylang and being manipulated into giving their entire savings to PRC meimeis ... So can we blame this group of individuals? For causing the govt to hold our money. There is only 2million++++ Near 3million who i believe are locally born, It seems like this small family has to eat the shit created by others... Or is it.. Or is there a deeper reason that our $$ is being kept from us?

 

[tanwahtiu]

Someone said to me we can forget your CPF monies. Cheng hu will cheng your money and this really happen today.

This is the reason why. there are >50,000 babies born in 1954, 60,000 born in '57 there were 50,000 babies born in '58, 60,000 born in '59. If each one has >$100,000 in CPF and at 55 PAP will have to pay >$6B every year. The baby boomers are aging and allot to pay? Why pay? Better to cheng than pay!

Govt and OUR DEAR LOVER lky says that this is due to the fact that Sinkies like going to Batam every weekend and will spend all their money there within a month and will start asking society to care of him or worst his entire family or Sinkies going to geylang and being manipulated into giving their entire savings to PRC meimeis ... So can we blame this group of individuals? For causing the govt to hold our money. There is only 2million++++ Near 3million who i believe are locally born, It seems like this small family has to eat the shit created by others... Or is it.. Or is there a deeper reason that our $$ is being kept from us?

 

[bryanlim1972]

Govt and OUR DEAR LOVER lky says that this is due to the fact that Sinkies like going to Batam every weekend and will spend all their money there within a month and will start asking society to care of him or worst his entire family or Sinkies going to geylang and being manipulated into giving their entire savings to PRC meimeis ... So can we blame this group of individuals? For causing the govt to hold our money. There is only 2million++++ Near 3million who i believe are locally born, It seems like this small family has to eat the shit created by others... Or is it.. Or is there a deeper reason that our $$ is being kept from us?

that is the common excuse used by nanny state singapore to hold back CPF monies. every now and then, ST will run articles of uncles blowing their savings on wine women and song.

the deeper reasons will only be known by the cabinet. their constant silence on this matter is quite telling - perhaps they already know the truth and do not want to face up to it.

 

[batman1]

CPF Life provides an annuity from age 62 or 65,which means that a member's funds are locked up for 7 to 10 years from the CPF withdrawal age of 55.The financial needs of CPF members at age 55 differ.Some may have enough savings and will not need their CPF funds immediately,while others would need some additional income to supplement their insufficient savings.The CPF Board advises members to undertake financial planning and take up investment or savings plans according to their financial needs.But CPF Life forces a member to wait between 7 and 10 years without considering his financial needs at age 55.Perhaps CPF Life should provide the choice of an immediate or a deferred annuity.This would meet a person's financial needs better than at present.

 

[Narong Wongwan]

Malaysians can withdraw their EPF from 50 years old....

 

[scroobal]

There is an element of truth about squandering the total sum after a single withdrawal. But it more to secure the medical bills, hdb installment payments, and reduce public assistance from the govt. it is now a escrow account for the govt and nothing to do with welfare. If this was properly planned this would not have happened.

 

[zhihau]

There is an element of truth about squandering the total sum after a single withdrawal

bro,
you reap what you sow, that's the truth in life
if those folks can't plan and squander their wealth, they ought to pay the consequences, meanwhile, return us our rights to deal with our own money :*::*::*:

 

[po2wq]

Malaysians can withdraw their EPF from 50 years old....

oni if dey balik kampung n never return 2 work in sg ...

 

[batman1]

bro,
you reap what you sow, that's the truth in life
if those folks can't plan and squander their wealth, they ought to pay the consequences, meanwhile, return us our rights to deal with our own money :*::*::*:

There's a breach of contract by the PAP against the CPF members .New clauses,terms and conditions have been added to the original contract by the PAP to restrict CPF withdrawal by CPF members such as Withdrawal age at 55 extended to 62 or 65,Lump sum withdrawal amended to monthly payout,etc

 

[leetahbar]

the newest reason now is that sgporeans are living longer as if everyone is like lau lee. one sneeze and the best medical attention would be at his beckon.

 

[johnny333]

oni if dey balik kampung n never return 2 work in sg ...

How many Malaysians do you know who are still working in Spore after their 50's

Malaysians can buy a house in Malaysia for less than RM$100,000 & have low daily costs. If they have been working in Spore consistently for years they can retire comfortably. If not, why bother working in Spore

 

[KNNBCCB]

 

[po2wq]

How many Malaysians do you know who are still working in Spore after their 50's ...

dose who un4tunately married sinkies 1 ... n dose who stay in jb ...

 

[johnny333]

dose who un4tunately married sinkies 1 ... n dose who stay in jb ...

Even if married to a local I bet they would consider staying in Malaysia if they could take out their CPF. If they invest the $$ in a home not only is it more spacious than a HDB pigeon hole but it would potentially appreciate in value. With the low interest rate given by the CPF, you are actually losing out.

Not only would staying in Malaysia be cheaper but they could also rent out their place in Spore. Same goes for those staying in JB.

It's simple dollar & sense logic for a malaysian to stay in Malaysia, especially if they are"older" since it will be hard for them to find a decent paying job in Spore.

 

[halsey02]

There is an element of truth about squandering the total sum after a single withdrawal. But it more to secure the medical bills, hdb installment payments, and reduce public assistance from the govt. it is now a escrow account for the govt and nothing to do with welfare. If this was properly planned this would not have happened.

This is my blood, sweat & tears money, wether I splurge the entire sum on a woman so ugly or old or whatever, that is my entire life working for that money. In other words, any government should not be holding back their citizens hard earn money, it is their perogative to spend it anyway they like.

If we have stupid elderly people who want to donate their money to whomever woman out there, PRC, Pinay etc...it is their business. At 55, I want my money. Period.!

 

[Doubblur]

The truth I think is not that they lost so such much that they don't have the money. The truth I think is they want to keep us old men like puppies on leash. :oIo:

 

[po2wq]

... At 55, I want my money. Period.!

msian epf very goot 1 ... interest higher (6% or mor) ... got gif dividends 1 sum mor ... u can take moni out 2 buy haus ... if u sel ur haus later, no nid 2 put back ... u can take all out wen ur reach retirement age (tunk iz 55) ... den, after dunno how o, dey try 2 force u 2 take out ur epf moni by not giving u interest any mor ...

 

[Cruxx]

There's a breach of contract by the PAP against the CPF members .New clauses,terms and conditions have been added to the original contract by the PAP to restrict CPF withdrawal by CPF members such as Withdrawal age at 55 extended to 62 or 65,Lump sum withdrawal amended to monthly payout,etc

And what can you do about it? Nothing

 

[johnny333]

If we have stupid elderly people who want to donate their money to whomever woman out there, PRC, Pinay etc...it is their business. At 55, I want my money. Period.!

Unfortunately Sporeans are forced to give the money to a foolish, silly, woman who has publicly stated that she has no regrets :(

 

[tonychat]

And what can you do about it? Nothing

Why are you copying my style of replying. Go get your own style, stop behaving like a prc.