What is the Central Provident Fund for?

[johnny333]

True words of wisdom. I call it write off. Those who are thinking of retiring on CPF on whatsoever, good luck!

I am getting back my cpf by renting out my pigeonhole legally. Think should be able to get all plus their interest and MY interest in about 7-8 years time. But that is cash and I really feel rich.

I have taken whatever I can out to buy my home. I've also maxed out the investment portion. Although the investments have made loses I'm going to leave them alone rather than letting you know who get her hands on it

 

[johnny333]

interesting point, if there's a change in politics & PAP are not in power, would the new gahmen still keep the CPF going, or change/modify it to another type of fund, maybe one that benefits the poorer? if not what would they do with it or how would they go about returning the monies? you are prudent to have made alternative plans.

I suspect any new gov't would make public the losses incurred under the PAP. Then they can proceed with a clean slate.

I doubt there would enough monies left for everyone & they will probably convert it to some kind of annuity.

 

[chonburifc]

I have taken whatever I can out to buy my home. I've also maxed out the investment portion. Although the investments have made loses I'm going to leave them alone rather than letting you know who get her hands on it

Hahahaha. More wise words. I rather lose my own money MYSELF than allow someone playing blindfolded bacarrat on my behalf. Remember I did make some small investments using special account to support a friend who just became a financial planner. Not too sure of what is the current status but I take it as lost everything liaoz.

 

[winners]

I have taken whatever I can out to buy my home. I've also maxed out the investment portion. Although the investments have made loses I'm going to leave them alone rather than letting you know who get her hands on it

However, you cannot sell your property. Otherwise, the CPF money (+ interests) used for its loan will have to be returned to the CPF and thereafter, they will set aside (locked) for your Minimum Sum. Only those amount in excess of the Minimum Sum can be utilized again.

 

[Jlokta]

interesting point, if there's a change in politics & PAP are not in power, would the new gahmen still keep the CPF going, or change/modify it to another type of fund, maybe one that benefits the poorer? if not what would they do with it or how would they go about returning the monies? you are prudent to have made alternative plans.

I believe the new government should still keep CPF when the 超级白 are no longer in power.

I hope the new government starts looking at all the investments by the GICs & TH. Look at how much $$ are invested using CPF, how much gain and how much losses. Losses they have to put back to CPF (with interest), gains have to profit share.

And, STOP FUCKING SUKA SUKA SHIFT THE MINIMUM SUM AND RETIREMENT AGE.

Only then, can we expect to maybe get our CPF $$ back.

 

[Jlokta]

I have taken whatever I can out to buy my home. I've also maxed out the investment portion. Although the investments have made loses I'm going to leave them alone rather than letting you know who get her hands on it

Do you know that when you want to pay up all your housing loan using CPF, HDB will have to grant approval?

Makes me wonder if the CPF is like my bank account. always $$ not enough have to use credit advance.

 

[ConyuConhee]

aiyah ...... singaporean so rich
look at cpf statement so happy
feel so rich already
let garment safe-keep lah ...
dun cow peh cow bu ....
meanwhile eat shit until the decide
to stop shifting the goal-post
that if ..... if they stop shifting

 

[johnny333]

Do you know that when you want to pay up all your housing loan using CPF, HDB will have to grant approval?

Makes me wonder if the CPF is like my bank account. always $$ not enough have to use credit advance.

I didn't know that but really not surprised.
Dealing with the gov't is like dealing with the devil

I am fortunate that I avoided expensive cars, holidays, etc. So I was able to buy a condo

 

[chonburifc]

Do you know that when you want to pay up all your housing loan using CPF, HDB will have to grant approval?

Makes me wonder if the CPF is like my bank account. always $$ not enough have to use credit advance.

This i confirm and double reconfirm. Need to write a letter to hdb or cpf. Think also need to pay some cash. Almost 10 years liaoz so cannot remember the exact details.

 

[johnny333]

However, you cannot sell your property. Otherwise, the CPF money (+ interests) used for its loan will have to be returned to the CPF and thereafter, they will set aside (locked) for your Minimum Sum. Only those amount in excess of the Minimum Sum can be utilized again.

I will only sell if I intend to trade-in my IC. Then I can take everything out

My parents are staying with me & as long as they are alive I will keep the place.

However I intend to spend more time outside the country in semi-retirement because I don't think Spore is a healthy place. Too much crime in Spore. :(
I also don't want to be a victim of collision with bicycle, truck, bus, Ferrari,... I really dislike the jams & crowds that is so common nowadays.

 

[johnny333]

This i confirm and double reconfirm. Need to write a letter to hdb or cpf. Think also need to pay some cash. Almost 10 years liaoz so cannot remember the exact details.

We all know that the gov't wants ensure they get a cut of the profit you make from selling a HDB flat. It's SOP for the parasite mentality that has set in among the PAP.

Curious to know if anyone has ever been denied permission to sell their unit