Historical EPF vs CPF since 1955

[ChaoPappyPoodle]

If the SGD was weak, everything would cost more... petrol, transport, electronics, power, gas etc.

You live in Lalaland. Regardless of the strength of the SGD prices here have always moved upwards. The PAPzis are either in a state of earning supernomal profits when the SGD is high or normal profits when the SGD is low.

 

[johnny333]

and cheaper too....US is a fat country....i heard they sell 50 piece chicken mcnuggets there for like $15.

In the US If you go to the Supermarkets, it is common to see people buying cart loads of groceries filled to the brim. Sometimes they even need 2 to 3 carts. There are many large sized bulk items like big sized soup cans, milk cartons, large bags of chips, macnuggets, .... are a common sight in the US.

 

[frenchbriefs]

I don't know what you are arguing...???...that's just entrepreneurship... same thing you can use your strong sing to go to thai pratunam, china yiwu or even through Alibaba, buy in bulk & earn in btw....use your brain & earn more $$ in Singapore...you rather be a communist state, every week give you your rice & vege ration?

so everytime i want to buy something i have to go to alibaba or some other stupid website?and have it flown or shipped?and wait days?what if i want some fucking fried chicken now?tell me alibaba where got sell?

 

[johnny333]

)....which resulted in extreme obesity....

The point is that food is cheaper there. You will of course find many obese americans but if one is sensible you can spend less on food.

Compared to Spore where the higher rentals & GST is driving food costs up

 

[Leongsam]

Many here would agree that Spore is a great place if you are a foreigner but a liability if you are a Sporean.
As a citizen your are disadvantaged by NS, reservist commitments & locked up CPF.

As a citizen, I never felt disadvantaged by NS as I took it as an opportunity to take a break from a hectic schedule and to catch up with friends who were also too busy to meet up during the rest of the year.

CPF wasn't locked up either. It could be used to purchase property which resulted in capital gains which could be withdrawn.

 

[johnny333]

As a citizen, I never felt disadvantaged by NS as I took it as an opportunity to take a break from a hectic schedule and to catch up with friends who were also too busy to meet up during the rest of the year.

CPF wasn't locked up either. It could be used to purchase property which resulted in capital gains which could be withdrawn.

When I did my NS I didn't feel disadvantage BUT that was decades ago when a Spore citizenship meant something.

Now that any Tom, Dick & Harry is allowed to work here & can enjoy ALL the benefits that citizens enjoy. So what is the point of being a "Spore" citizen

 

[Leongsam]

When I did my NS I didn't feel disadvantage BUT that was decades ago when a Spore citizenship meant something.

Now that any Tom, Dick & Harry is allowed to work here & can enjoy ALL the benefits that citizens enjoy. So what is the point of being a "Spore" citizen

As a Singaporean, you have all the advantages that foreigners enjoy plus more!

 

[Papsmearer]

different economies but 2.5% is really a joke....at least between 1987 1998 u could tell the interest rates were real and adjusted to performance....something went terribly wrong in 1999.

i presume thats also when the immigration woes started.

Nothing when wrong. Interest rate on CPF was dropped to 1% around 1994 because the PAP had to discourage people from leaving their money in CPF. They wanted people to take out the money to buy HDB flats which were coincidentally increased in price by a large margin at the same time. If the rates were 6.5%, who would take it out to buy flats?

 

[quartz28]

so everytime i want to buy something i have to go to alibaba or some other stupid website?and have it flown or shipped?and wait days?what if i want some fucking fried chicken now?tell me alibaba where got sell?

Point is...be creative, take advantage of higher Purchasing power to earn more....so you can pay for your fucking chicken with no concerns....

 

[Papsmearer]

If interest rates are a reflection of how well a country is doing, then Argentina, currently averaging 18% interest, is doing far better than Switzerland which pays 0% interest.

Ukraine is looking good too at 22%.

In the early 80s during the infamous reign of Robert Muldoon, the NZD interest rate was a whopping 24%. NZD term deposit accounts were advertised daily in the shitty times. A know more than a handful of people who succumbed to greed and took the plunge with their precious savings believing they'd get windfall returns. Not a single one made a cent. They all lost big time from exchange rate depreciation.

The naivete of you guys is simply amazing. Small wonder the PAP has to hold your hands through the passage of life.

The interest rate was high because of inflation, stupid. When inflation died, the rates dropped back down. If u don't understand this, take a course in econs, u fucking retard.

 

[quartz28]

The point is that food is cheaper there. You will of course find many obese americans but if one is sensible you can spend less on food.

Compared to Spore where the higher rentals & GST is driving food costs up

I agree with you on this...US cost of living is going down...food generally is cheaper (not dining out though) and
stuffs are affordable if you shop at the right places (walmart, cosco , outlets etc).....

 

[scroobal]

1) Until 1973, for the first 18 years of PAP existence, the currencies fornMalaysia and Singapore together with Brunei was interchangeable and carried the same value due to the agreement. Except for these short period of merger, the Singapore PAP paid a lower interest. Not once was it on par with Malaysia or higher. This is a fact. It's shows how compliant we are.

2) The 1984 NZ currency crisis made a fortune for those who had some financial sense and all the NZ corporate entities made a killing. All because the PM was stubborn. Immediately after their reserve bank devalued its currency by 20% the interest shot up to a high of 67% for a short period and remained high to allow repatriation of much needed NZ currency. Amex Bank Singapore was one of the first to offer the NS term deposit. It continued in the 20s and made money for many Singaporeans. Amex Bank also offered the moving rate exchange rate to work out the exit point. The 20%!devaluation brought huge stability to NZ, made their exports attractive and practically killed the British sheep industry. Till today, lamb meat from NZ is cheaper in the Uk than UK lamb. Nearly everyone made a mini fortune. Those who had NZ term deposit in the late 80s know what it delivered as the currency pair was not volatile. It's steadily moved with the interest rate.

3) Singapore stubborn nature of holding the value of SGD and the high GDP growth killed the Singapore electronic and valued add high tech industry as the it became more expensive to export our goods. MNC began to move to Penang and Vietnam. Singapore panicked and offered Bataam as an alternative and the MNC laughed. Our bio tech has not taken over and in desperation we brought in the gambling industry. It literally saved our butt.

4) Nearly everyone at the top knows that SGD was kept high to show the Malaysians that we were better, a silly vendetta. Malaysia depends on its export economy and has consistently kept its currency competitive. As a result there are more opportunities and the country is booming. They are are not in position to rely heavily on Gambling revenue as we do.

 

[scroobal]

I am really surprised that we Singaporeans do not know that our currency despite its exchange rate strength buys less goods and services in Singapore. We are the most expensive city in the world.

It is no surprise that many Singapore emigrate as our currency buys more goods and services outside the country. Wuqi thread is a testimony to it.

Any longitudinal studies will show that we are not better off. The elite have houses and assets overseas. Singapore is an excellent place to make money such as property speculation, Reits, rentals etc. but it is not a place to live comfortably if you are not the top league.m

 

[eErotica69]

If interest rates are a reflection of how well a country is doing, then Argentina, currently averaging 18% interest, is doing far better than Switzerland which pays 0% interest.

Ukraine is looking good too at 22%.

In the early 80s during the infamous reign of Robert Muldoon, the NZD interest rate was a whopping 24%. NZD term deposit accounts were advertised daily in the shitty times. A know more than a handful of people who succumbed to greed and took the plunge with their precious savings believing they'd get windfall returns. Not a single one made a cent. They all lost big time from exchange rate depreciation.

The naivete of you guys is simply amazing. Small wonder the PAP has to hold your hands through the passage of life.

Say that again Sam!

 

[syed putra]

What goes up will come down. Emerging economies collapses, sinkapore will be hit because it is treated as one of them.

Singapore considered safe haven in south east asia. If there is just a notion of currency depreciation in neighboring countries, a huge swath of can will come pouring in. Anyway, most south east Asian businessmen are non natives like Chinese and Indian. Their sense of patriotism not the same as natives.they have more faith in an economy manages by their own kind.

 

[JohnTan]

If you had invested in the EPF over the decade and kept your savings in ringgit, you would be crying buckets today. With each passing year, the Sing dollar is appreciating against the ringgit. At this rate, we would be treating the ringgit like the ruppee or thai baht.

 

[frenchbriefs]

If you had invested in the EPF over the decade and kept your savings in ringgit, you would be crying buckets today. With each passing year, the Sing dollar is appreciating against the ringgit. At this rate, we would be treating the ringgit like the ruppee or thai baht.

can somebody calculate if u put 100k ringgit into the epf back in 1955 and 100k SGD into CPF back in 1955 what would be the balance today.....i have a feeling with the higher compounding interest the difference would be exponential.even a 1 percent difference in interest growth rate is drastic difference over a period of 20 to 30 years......

i calculated using a compound interest calculator if u invested 100k in a fund yielding 2.5% interest over 50 years vs a fund yielding 6.5% interest p,a.at the end of 50 years u will have 330k versus 2.3 million......a difference of almost 600%.even after accounting for currency difference,it is clear which fund is far far superior.

 

[Hans168]

Move to Texas where there is NO state income taxes.
Sinkapore's health care, not cheap too ...unless you plan to be a C class patient. Then you have to find some way to hide your wealth.

how many can afford B class???