Do You Agree That CPF Interest Rates are Pegged with Local Bank Interest?

[gingerlyn]

Dear brothers and sisters,

Please refer to the news below:
CPF OA is 2.5%.

do you agree? It is pegged with Local Bank Interest.

http://www.straitstimes.com/news/si...est-rate-stays-25-cent-july-1-sep-30-20140521

Singaporeans are stupid to believe that 2.5% must be pegged with local bank interest. this does not make any sense.

this is because if you deposit money into local banks, you can withdraw it any time.

however, if you deposit money into CPF, your withdrawal depends on CPF fund and Ho Ching Peformance.

how can you compare apple with oranges?

CPF is a long term fund and long term fund shall yield much higher return than local bank interests.

any finance students know this but they are too stupid to continue to vote for PAP

 

[KNNBNBCB]

fuck the interest rate. just return everything at 55.

 

[GramStroker]

Better yet fuck the fund. Let people decide for themselves.

 

[scroobal]

Note the use of the term "risk-free interest rate" used by the Straits Times. The implication is that everywhere else interest rate is risky. She will probably get brownie points for it. More importantly why the PAP needs to control the press. The issue is not risk-free but is it a fair return. That has been the key issue.

BY JANICE HENG
SINGAPORE - Central Provident Fund (CPF) members will continue to get a risk-free interest rate of 2.5 per cent per annum on their Ordinary Account savings from July 1 to Sept 30, the CPF Board and the Housing Board said in a statement on Wednesday.

 

[po2wq]

Note the use of the term "risk-free interest rate" used by the Straits Times. The implication is that everywhere else interest rate is risky ...

interest rate is risk-free ...

but is ur principal amount oso risk-free? ...

 

[sochi2014]

you obviously have no ideas how banks work.

 

[halsey02]

Dear brothers and sisters,

Please refer to the news below:
CPF OA is 2.5%.

do you agree? It is pegged with Local Bank Interest.

http://www.straitstimes.com/news/si...est-rate-stays-25-cent-july-1-sep-30-20140521

Singaporeans are stupid to believe that 2.5% must be pegged with local bank interest. this does not make any sense.

this is because if you deposit money into local banks, you can withdraw it any time.

however, if you deposit money into CPF, your withdrawal depends on CPF fund and Ho Ching Peformance.

how can you compare apple with oranges?

CPF is a long term fund and long term fund shall yield much higher return than local bank interests.

any finance students know this but they are too stupid to continue to vote for PAP

You deposit money into any commercial banks, on a regular basis, say every month from the 1st day you start work until you retire. The Banks will pay you interest on that money, as determined by ABS, MAS & Local Money Market. You can freely make withdrawal unless, you owe the banks money...the have the legal right to offset all you save, to what you owe.

But CPF, is a 'black hole' pf savings, you withdraw your CPF for investments or housing, you have to pay back the sum withdrawn plus INTEREST...you are owing yourself money, sic!. That is not all, they keep changing their minimum sum rules set by them on YOUR MONEY, so that, by 55 years of age, you will receive an average 5,000-8,000 & the rest, you cannot touch till you are 65, 67 & soon 70!!

If you in dire need between 55 - 65, 67 & soon 70, for conditions beyond your control, they have 1001 rules TO PREVENT YOU FROM TAKING OUT ANY...& if they benevolent to you, you have to pledge your property to YOURSELF & get....a dastardly amount. But, this your money, you hard earned, with BLOOD SWEAT & TEARS & saved for rainy days & days like this.....in other words, you would not get a single cent. But, if you had saved with the banks, with discipline & diligent, unless you owe them money, you freely withdraw the money...YOUR MONEY.

Is CPF YOUR MONEY? OR IS IT IN THE HANDS OF PEOPLE, WHO DETERMINE WHEN YOU GET TO USE THEM OR NEVER AT ALL....??? consider this!