- Joined
- Jul 10, 2008
- Messages
- 64,944
- Points
- 113
No I used it to buy property which I rent out for a 6.5% return.
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Another Sinkie whines yet again online about his untouchable CPF monies and wonders who should he vote for in the Bicentennial GE!
- Thread starter Wayne Piew
- Start date
No I used it to buy property which I rent out for a 6.5% return.
- Joined
- Sep 17, 2008
- Messages
- 2,954
- Points
- 113
Majority of Sinkies have confidence in PAP and Mdm Whore managing their CPF monies and will show their undying support and votes in the upcoming bicentennial GE.
- Joined
- Sep 17, 2008
- Messages
- 2,954
- Points
- 113
Even Captain Goh blasts Sinkie Hokkein whiner Lim for saving a paltry sum of $70K at the age of 60 in affordable 1st world island paradise Sinkapore!
In an exclusive with TISG, secretary-general of the People’s Power Party Goh Meng Seng said CPF should only be used to finance retirement and at most healthcare expenditure.
He made these remarks when asked for his thoughts on the Central Provident Fund (CPF) withdrawals and the current age limit at which members can withdraw their savings.
He added, “Having said that, the compulsory portion of savings for both retirement and healthcare financing should only be capped at 20% of working salary”.
Mr Goh said that any excess of the compulsory contribution should be voluntary and people should have the ability to use this money for other things like housing or even education.
“Basically, the excess of 17% should be viewed as voluntary contribution which Singaporeans could take out any time for any expenditure”.
Mr Goh’s comments come after a 60-year-old father wanted to use $15,000 of the $70,000 in his CPF for his daughter’s education. However, the CPF Board did not allow him to make such a withdrawal, adding that “As Mr Lim did not have sufficient CPF savings for a basic retirement, allowing him to use his CPF for his daughter’s education is not appropriate”.
In their statement, the CPF Board also said, “The better approach is to find other ways to finance his daughter’s school fees”.
When asked about the age upon which the full sum can be withdrawn from CPF, Mr Goh said, “The draw out age for CPF or CPF life should be decided by Singaporeans with the minimum draw out age set at 60”.
In talking about the father whose application to make a withdrawal from his CPF for his daughter’s education being rejected, Mr Goh said, “He should make better consideration on his retirement financial needs”.
“He may have $70k in CPF now but that might not be enough for his retirement. He should take this opportunity to give due consideration on his retirement adequacy”.
Mr Goh said the incumbents have done a bad job in telling Singaporeans that they can use their CPF money for housing and education without giving due consideration on the retirement financial needs for Singaporeans at large.
"This results in giving excess liquidity to the property market, particularly HDB which jacks up the prices. This will hurt future generations while putting future retirement plans for Singaporeans in jeopardy,” he said.
In an exclusive with TISG, secretary-general of the People’s Power Party Goh Meng Seng said CPF should only be used to finance retirement and at most healthcare expenditure.
He made these remarks when asked for his thoughts on the Central Provident Fund (CPF) withdrawals and the current age limit at which members can withdraw their savings.
He added, “Having said that, the compulsory portion of savings for both retirement and healthcare financing should only be capped at 20% of working salary”.
Mr Goh said that any excess of the compulsory contribution should be voluntary and people should have the ability to use this money for other things like housing or even education.
“Basically, the excess of 17% should be viewed as voluntary contribution which Singaporeans could take out any time for any expenditure”.
Mr Goh’s comments come after a 60-year-old father wanted to use $15,000 of the $70,000 in his CPF for his daughter’s education. However, the CPF Board did not allow him to make such a withdrawal, adding that “As Mr Lim did not have sufficient CPF savings for a basic retirement, allowing him to use his CPF for his daughter’s education is not appropriate”.
In their statement, the CPF Board also said, “The better approach is to find other ways to finance his daughter’s school fees”.
When asked about the age upon which the full sum can be withdrawn from CPF, Mr Goh said, “The draw out age for CPF or CPF life should be decided by Singaporeans with the minimum draw out age set at 60”.
In talking about the father whose application to make a withdrawal from his CPF for his daughter’s education being rejected, Mr Goh said, “He should make better consideration on his retirement financial needs”.
“He may have $70k in CPF now but that might not be enough for his retirement. He should take this opportunity to give due consideration on his retirement adequacy”.
Mr Goh said the incumbents have done a bad job in telling Singaporeans that they can use their CPF money for housing and education without giving due consideration on the retirement financial needs for Singaporeans at large.
"This results in giving excess liquidity to the property market, particularly HDB which jacks up the prices. This will hurt future generations while putting future retirement plans for Singaporeans in jeopardy,” he said.
- Joined
- Dec 6, 2012
- Messages
- 28,963
- Points
- 113
KNN captain goh should catch pap with their pants drop by asking why the pg elderly only can use $200 out of the $x amount they have in their medisave acct KNN this so called flexi medisave allowable usage and others are no longer flexi KNN sickness got flexible and non flexible one meh KNN
Similar threads
