OK. Downgrade to studio apartments is also entitled to $20k cash bonus. But all my questions still remains, especially if the eligible age will be kept at 55 in years to come, especially the few years wait for the BTO flat to be ready which means the monetisation/cash bonus starts closer to 60 rather than 55. 3-room flat owners have an extra worry because their flats prices are worth only $300,000 and may fall.
PM Lee wants senior citizens to sell their houses?!
- Thread starter Isogallardo
- Start date
OK. Downgrade to studio apartments is also entitled to $20k cash bonus. But all my questions still remains, especially if the eligible age will be kept at 55 in years to come, especially the few years wait for the BTO flat to be ready which means the monetisation/cash bonus starts closer to 60 rather than 55. 3-room flat owners have an extra worry because their flats prices are worth only $300,000 and may fall.
Robbing the next generation of their inheritance. Great strategy. We need brilliant Gahment like this. Not those sleeping wayang party MPs.
During the National Day rally, PM said they have the OPTION of using schemes to monetise their flat if they want more for retirement. Obviously Oppies love to take things and twist it out of context!
#ndrsg
- Joined
- Feb 26, 2012
- Messages
- 15,733
- Points
- 83
without the seat type?
- Joined
- Jul 25, 2013
- Messages
- 17,813
- Points
- 113
no they dont....theres a limit to how much hard assets they can have,and its 200k i think.
- Joined
- Nov 9, 2010
- Messages
- 80,748
- Points
- 113
They should also do something for private property owners who downgrade to HDB. Currently they have to wait for 30 months after selling private before can apply BTO HDB. If the eligibility for elderly studio is age 55 and need to wait 30 months to apply and then wait another two years to build means 4.5 years after age 55. Very long time to be without a roof over the head. Perhaps sleep on the road. Buying resale HDB is very expensive.
- Joined
- Jul 10, 2008
- Messages
- 65,452
- Points
- 113
The pension is the biggest rip off of all. I'm paying $500 more in taxes weekly before the age of 65 in order to get back $290 a week after.
If you think a system like that is better than the CPF scheme, you must be mad.
- Joined
- Jul 10, 2008
- Messages
- 65,452
- Points
- 113
If they don't own flats they should have a huge pile in their CPF accounts so they can take care of themselves.
- Joined
- Jul 25, 2013
- Messages
- 17,813
- Points
- 113
so where are they going to live?this is not like america where they can live in trailer parks or hobo towns or hippie campsites.
- Joined
- Jul 19, 2011
- Messages
- 27,969
- Points
- 113
$1700 is the median takehome pay ...how much can sinkees have for retirement?
- Joined
- Dec 15, 2012
- Messages
- 2,992
- Points
- 63
House one lives in not considered asset. Aussies can live in a few mil house and still qualify for pension.
- Joined
- Dec 15, 2012
- Messages
- 2,992
- Points
- 63
You should live in sg if u think so negative of NZ. In sg you wont have to pay much taxes if you are self employed. You can also live in tanglin near your parents. Being rich i dont see why you dont live in sg.
- Joined
- Jul 10, 2008
- Messages
- 65,452
- Points
- 113
No trout fishing and not enough off road bike trails or I'd be back in a flash.
- Joined
- Jul 10, 2008
- Messages
- 65,452
- Points
- 113
They can rent from the HDB. Very cheap and very comfortable... electricity, running water, flushing toilet all included.
http://www.hdb.gov.sg/fi10/fi10323p.nsf/w/RentDirectHDBRentDeposit?OpenDocument
Or they can do what I do and that is to rent a room in Bedok South.
- Joined
- Jul 10, 2008
- Messages
- 65,452
- Points
- 113
Since they have not used their CPF for housing, all the money that they would have used to pay their mortgages plus interest should be sitting in their accounts upon retirement.
It will vary from person to person of course. If you're nothing but a bum who has never bothered to earn a living, it goes without saying that you won't have much in your CPF account. You can't blame the PAP for that. It's your own fault.
- Joined
- Jul 25, 2013
- Messages
- 17,813
- Points
- 113
yeah good luck with that.....u have to be crippled or half blind half deaf and half dead before u can even dream of renting one of those flats.
shit u think the government just give away $200 rental flats for nothing?
- Joined
- Jul 25, 2008
- Messages
- 60,986
- Points
- 113
you can share a room in bedok with 2 others, and hump the landlady as quid pro quo for rent payment. it'll be less than $200 per person with fringe benefits.
Similar threads
