The CPF Minimum Sum (MS)

[lifeafter41]

Just went into the website of CPF and noted on this.

Understand
How much is the Minimum Sum (MS)?

The MS was set at $80,000 in 2003 and is being raised gradually until it reaches $120,000 (in 2003 dollars) in 2015. The MS will be adjusted yearly for inflation.



55th birthday on or after MS
(in 2003 dollars) MS
(after adjustment for inflation)
1 July 2003 $80,000 $80,000
1 July 2004 $84,000 $84,500
1 July 2005 $88,000 $90,000
1 July 2006 $92,000 $94,600
1 July 2007 $96,000 $99,600
1 July 2008 $100,000 $106,000
1 July 2009 $104,000 $117,000
1 July 2010 $108,000 $123,000
1 July 2011 $112,000 $131,000
1 July 2012 $113,000 $139,000
1 July 2013 $115,000 $148,000
1 July 2014 $117,500 $155,000
1 July 2015 $120,000 To be announced

With the assumption of by 2015 the MS is 170K (120k value at 2003 prices)
Since the 120k value at 2003 prices will be reached by 2015, will the interest payable by CPF board be sufficient to offset inflation in the coming years?
Interestingly, 2016, will be the next GE, is it a coincidence that 2015 is the cut off?.

 

[Glaringly]

PAP got themselves shot in the foot.

From 2003 to 2013 the average adjusted for inflation is (148,000-115,000) / 115,000 / 10 = 2.87 %

Verses CPF interest of 2.5%, means our money sitting in CPF is getting smaller.

We got the right to be angry as we are being short changed.

 

[M113tankee]

1 July 2008 $100,000 $106,000
1 July 2009 $104,000 $117,000

2008 to 2009 increase from 106k to 117k. 10% increase . wHy? inflation got so much? or is it 2008 happen to be the year of US subprime crisis.

 

[lifeafter41]

PAP got themselves shot in the foot.

From 2003 to 2013 the average adjusted for inflation is (148,000-115,000) / 115,000 / 10 = 2.87 %

Verses CPF interest of 2.5%, means our money sitting in CPF is getting smaller.

We got the right to be angry as we are being short changed.

If I recall there is something like first 40k or 60k, payable at 4%, thereafter, the rest is at 2.5%.
Not sure how would that square out with the 2.87%

Gut feel is inflation in Singapore much higher, with the prices of food and housing increasing the last 5 years.

 

[soIsee]

So TS thinks whatever the increased inflation rate, PAP should 'top up' for you to enable you to meet your retirement?

Might as well say, your Daddy needs to make up the short fall of funds, for whatever you wanted in your life but could not make it up to the required amount SIMPLY BECOS YOU TURNED OUT TO BE A LOSER IN YOUR LATER STAGES OF YOUR LIFE? LoL

 

[Glaringly]

If I recall there is something like first 40k or 60k, payable at 4%, thereafter, the rest is at 2.5%.
Not sure how would that square out with the 2.87%

Gut feel is inflation in Singapore much higher, with the prices of food and housing increasing the last 5 years.

To begin with, I don't trust the official inflation rate.

In the past 5 years, inflation for basic items like groceries and outside food has rise way beyond the official numbers.

 

[lifeafter41]

To begin with, I don't trust the official inflation rate.

In the past 5 years, inflation for basic items like groceries and outside food has rise way beyond the official numbers.

Yes, that's my thought too.

 

[laksaboy]

To begin with, I don't trust the official inflation rate.

In the past 5 years, inflation for basic items like groceries and outside food has rise way beyond the official numbers.

As I have said before, you can easily fudge the inflation rate just like you fudge employment numbers.

Whatever it takes to make the ruling party look good.

 

[scroobal]

I agree, it does not match reality.

To begin with, I don't trust the official inflation rate.

In the past 5 years, inflation for basic items like groceries and outside food has rise way beyond the official numbers.

 

[Leongsam]

It's such a small amount even after the increase that nobody should be concerned. You can still withdraw the rest.

 

[escher]

Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.
BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.
Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.
Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.

PAP is finished.
The stinking glue and terror that hold PAP together is that old fart smear of shit on sole of shoe LKY. LKY is about to die in days or weeks.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP. Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.
None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.
They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.


WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS
WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN
WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.
AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.
https://www.torproject.org/about/overview.html.en