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The only plan that had 0 bequest was the old CPF Life Income plan, which is no longer available. Back then there were 4 plans - Balanced, Plus, Basic and Income. Now there are only two choices, Basic and Standard. Both plans have bequests. Standard plan (which is the default plan) gives a...

Yes you are much mistaken. If you die at age 55 + 1 day, your estate gets almost all of the $155k. As you withdraw your monthly sum from CPF Life, the amount of money left for your estate will keep reducing until it reaches 0. Before the CPF Life scheme (i.e. Minimum Sum Scheme), when this...

http://mycpf.cpf.gov.sg/CPF/my-cpf/Healthcare/PvdHC8.htm

The only way I can reproduce the numbers you got from the calculator is by setting birthyear to ~1949 (~65 years old). This is wrong because this assumes that the $150k is the amount in the RA after the 10 years of interest. Not $150k grown into $208k The correct birthyear to set is 1959 (55...

Interesting. A few weeks ago I was commenting about how the SDP's manifesto for the CPF was generally supportive of the CPF (including MSS and CPF Life) with a few changes. Now the manifesto is no longer available from the SDP website and then this. Interesting.

On the contrary, the mechanism for the increase in minimum sum has been transparent. http://mycpf.cpf.gov.sg/CPF/my-Cpf/reach-55/Reach55-2.htm In 2003, it was decided that the minimum sum will rise from $80k to $120k (2003 S$ before inflation) in 2013, at a rate of $4k per year before...

So, you must have taken full advantage of the CPFIS scheme right? How much money did you make from that?

You have just contradicted yourself here.

Would be funny though to see what happens if everyone invests all their CPF-OA into Stocks/UT/ETF, and everyone takes up bank home loans instead of CPF loans. Reduce rates on SMRA, or increase taxes?

Before CPF Life (a Life Annuity scheme) was introduced, the Minimum Sum Scheme was in place (since 1987). The MSS is a 20-year Annuity scheme. I'm curious about why they hate the Life Annuity Scheme over a 20-year Annuity scheme. Also, the Worker's Party manifesto in 2011 says that they support...

Fortunately for those that have assets but not enough cash, there are ways to convert to monetize these assets, the best one being the Lease-Buyback Scheme if they qualify for that. Otherwise there are always options to downgrade, or sell the house and take up rent. Since 'in grace' is a...

Lol, don't look at me to defend CPF-OA. I'm personally not comfortable with CPF-OA either. If you look at my posts, I have never defended CPF-OA, but I have defended CPF-SA/RA/Life which is really the point of this thread. Anyway, HDB loans isn't really the issue - you can take bank loan instead...

This is a loaded question which makes presumptions that I'm not sure can be substantiated. Most Singaporeans are able to retire in grace, and the CPF has worked for most Singaporeans. There are exceptions of course, but that doesn't mean the whole thing is a failure. We will need to look at the...

Medisave account is still around after age 55, as well as medishield coverage. So, medishield will cover most medical costs, and medisave will cover the rest. Of course, if medisave not enough then you are screwed, but that's a separate discussion as you said. The payout amount is not fixed...

CPF Life is absolutely a Pension Scheme. You are mistaking CPF with CPF Life (or CPF Retirement Account). A pension scheme is a scheme that provides an income after retirement, which is what CPF Life (and the old Minimum Sum Scheme) provides. CPF is a social security scheme that provides for...

You need to elaborate more about how "CPF coupled with HDB punches a hole in the retirement fund." Your CPF *is* your retirement fund. If you use your CPF to purchase a HDB flat, then yes, your retirement fund will be reduced. Surely you can't be suggesting that we should all receive HDB flats...

CPF Life does not "punch a hole in your retirement fund". It takes a portion of your retirement find and provides you with a guaranteed retirement income for life. It is not true that we can do whatever we like with our money. We are, for example, obliged to pay taxes and our credit card bills...

Democracy means you elect your MPs, and the majority of MPs will form the government which can then make all the decisions it likes. Democracy does not mean that every little decision made by a governing body must go through a referendum vote.

Well, you are right in that CPF isn't a pension fund. Pension is just one of the components of the CPF. It also provide medical insurance and converage and the controversial savings thing. To be precise, the retirement account which is the amount that goes into Minimum Sum and CPF Life is the...

Oh, I'm voting against the PAP too. I dislike the PAP like many people here do, but like them or not, the CPF as our national pension scheme is one of the things they actually get (mostly) right. It's not like voting in opposition is going to get your CPF money out. Take a look at the manifesto...