Chitchat Ex Sinkie turned Kiwi Screwed by CPF

[Papsmearer]

I'm in the loop regarding these current legal tussles and I'm surprised that none of the articles I've seen so far actually mentions the most salient point and that is that CPF is not a pension. It's your own money saved up over the years and paid back when you reach retirement age.

NZ now has a similar scheme called kiwisaver but it's voluntary.

However payouts from kiwisaver are not deducted from kiwi super so why should CPF payouts be deducted?

That is the crux of this whole issue regarding CPF.

Then the moron Tan should have brought it up.

 

[Papsmearer]

This guy is a moron comparing himself with PM Key. He still is SG citizen while Key was an expat, ie a foreigner. As long as an expat is not coming back to work in SG, they can withdraw their cpf. Is thus guy claiming SG gov discriminate against him too?

Now that he got the attention of SG authorities, that he has dual citizenship ships and trying to gain on both sides, as well his 2 sons absconding from serving their obligations (am sure Mindef already knew years ago when they failed to report for registration), just curious, what can SG authorities do to him? Cancel his SG citizenship? Extradite him back to SG ?

Skipping NS and holding 2 citizenships are not extraditable offences in NZ.

 

[scroobal]

Typical kiasu is the right description. I have seen in Raffles square - stand in long queue to get free tampon from promotion booth. This cheapskate did not even engage a lawyer.

Yes, he should have shut up.

He is one of those typical kiasu sinkies. I don't understand assholes like this. If I was given a NZ citizen, I would happily renounce my own sinkie citizenship and take my money out. Why would I want to enrich the PAP by letting them use my money at a discount. maybe the NZ govt taxes overseas pensions? So, if he withdraws one lump sum, he might face a high tax bill? I don't know, maybe Sam can shed some light. In any case, pension income earned in Singapore under the CPF might be taxable under the NZ worldwide income tax laws. So, if he does not pay taxes on income earned in singapore, he is potentially facing an audit. He should have shut up and quietly lose the $1200 monthly.

 

[Papsmearer]

I'm in the loop regarding these current legal tussles and I'm surprised that none of the articles I've seen so far actually mentions the most salient point and that is that CPF is not a pension. It's your own money saved up over the years and paid back when you reach retirement age.

NZ now has a similar scheme called kiwisaver but it's voluntary.

However payouts from kiwisaver are not deducted from kiwi super so why should CPF payouts be deducted?

That is the crux of this whole issue regarding CPF.

He should have applied to withdraw all his CPF as per the NZ request. He is likely to receive a letter from CPF declining to give him all his CPF, as he has to keep a minimum sum, or that he owes medishield or some other thing like that. He should then produce the decline letter to the NZ tribunal and say "see, I tried to take it all out as you told me to, but they don't let me".

 

[The_Hypocrite]

You don't have to pay a single cent in taxes to qualify pension payment if you re citizen or PR. The same for many 1st World except the US.

Even if you paid taxes for 80 years you do not automatically qualify for state pension if you do not meet the threshold.

Tat is why the system is stupid n needs to change. Dont give dont get...stupid ang mors create a stupid system. All it does is benefit the trailer park trash

 

[scroobal]

Some additional info on this guy. Married to an Indonesian Chinese and they ran a Lottery outlet/magazine store but had to give it ip about 10years ago. The wife is now a Naturopath and Hypnotist. She took the training after lottery outlet closure. Stays at Sambrooke Crescent, Flat Bush, Auckland. I think he is tight but does not know how get his CPF without paying taxes.

 

[lifeafter41]

The main difference is that CPF is a lumpsum withdrawal as opposed to monthly pension. Both are classified as superannuation. This stupid clown instead of getting a qualified legal eagle represented himself at every level of this process. I think he might have jeopardised the cases of others in a similar position.

Those who want to pull their CPF into countries where they have migrated without paying taxes have generally sought advice from the tax authorities and have arranged transfer to an equivalent fund and then withdrawn it at their own beck and call.

Capital transfers are usually allowed within the first year of migrating.

Not sure what you have heard from ex and existing countrymen that have move over.

Scroobal, looks like you are very well informed of the situations in NZ, are you a nz citizen now?.

 

[eatshitndie]

Those ex SINKIES who renounced their SG citizenship and withdrew their CPF didn't have any problems with their NZ SUPER. It is those who cannot let go that got trapped by the minimum sum scheme, medi life etc that really got screwed like this chap in the news.
He not only retained dual citizenship if SG does not permit, nit sure if he falsely declared in his SG passport application for renewal. Both of his sons are NS absconders who cannot go back to SG, yet he still wants to cling on to his SG citizenship!
What a typical SINKIE CLOWN!

when there's a small sizable sum in cpf, say $69k, and there's an opportunity to withdraw in full, ex sinkies should just renounce and do it. there's no point holding on to dual citizenships, want to have legs on 2 boats, and watch cpf scraps even though tiny but useful dwindle away with ever new rulings by sg gov to tap it, such as medishield scheme yearly premiums. future rulings will tap and reduce the balance further. moreover, the minimum sum is locked and cannot be withdrawn for other pursuits - opportunity cost lost. sinkies who have acquired foreign citizenship should learn from this stupidity. just renounce and cut the sinkie rope altogether. the cpf balance that i withdrawn in full was used as downpayment for a 2nd home, and from thereon i never look back in financial terms. it was a godsend. without that sum albeit small i would not be able to leverage a 2nd home purchase as an income property. the rental income paid for mortgage and expenses over years and it's now fully paid. and the flexibility provides further cash for 3rd and 4th homes. never underestimate the power of that tiny cpf balance. it did wonders for me, and for that i like to thank the pap.

 

[frenchbriefs]

How can the boys be extradited back to sg when they havent been in the country since ten?what are the legal precedents surrounding this?

 

[eatshitndie]

How can the boys be extradited back to sg when they havent been in the country since ten?what are the legal precedents surrounding this?

no extradition necessary. the boys upon visiting sg may be detained for the following: failure to register for ns, failure to apply for exit permits, failure to seek deferment from ns, failure to decide on sg citizenship and renounce at 21. 3 strikes or notices from the ica to sign the oath and they're out, like the jap kid who was born to jap dad and sinkie mom. he served ns yet became stateless. however for these boys, they have kiwi citizenship. their father fails to process all the necessary documentation with sg. his fault.

 

[winnipegjets]

Re: Sinkie denied pension in NZ for not using CPF first

He is just a typical sinkie who love to complain and wants the law to adjust just to suit his own benefit

He is the one complaining on SBF as well.

 

[winnipegjets]

no extradition necessary. the boys upon visiting sg may be detained for the following: failure to register for ns, failure to apply for exit permits, failure to seek deferment from ns, failure to decide on sg citizenship and renounce at 21. 3 strikes or notices from the ica to sign the oath and they're out, like the jap kid who was born to jap dad and sinkie mom. he served ns yet became stateless. however for these boys, they have kiwi citizenship. their father fails to process all the necessary documentation with sg. his fault.

He should not have a problem withdrawing his CPF. His sons' problem has nothing to do with him. They will have to deal LHL.

 

[winnipegjets]

Tat is why the system is stupid n needs to change. Dont give dont get...stupid ang mors create a stupid system. All it does is benefit the trailer park trash

That's why Asians like to come to angmo land ...it is a society where you don't need to work like dogs to survive. There is work-life balance.

The best model is the Scandinavian countries ...there, your major expenses in life are taken care of by taxes paid by everyone. No more financial worries, just live life to the fullest.

 

[mojito]

He should not have a problem withdrawing his CPF. His sons' problem has nothing to do with him. They will have to deal LHL.

Ya lor. Two seperate matters, and he can put them together and blame the Singapore for his problems. Just like opposition supporters. Good riddance i say.

 

[eatshitndie]

He should not have a problem withdrawing his CPF. His sons' problem has nothing to do with him. They will have to deal LHL.

he needs to renounce first before withdrawing in full. otherwise, doubt he has too much over the minimum sum in his account as he left sg quite some time ago. the minimum sum alone can pay for 696 sessions with atb's via wechat connections for any sinkie uncle desiring to enjoy their twilight years.

 

[winnipegjets]

he needs to renounce first before withdrawing in full. otherwise, doubt he has too much over the minimum sum in his account as he left sg quite some time ago. the minimum sum alone can pay for 696 sessions with atb's via wechat connections for any sinkie uncle desiring to enjoy their twilight years.

I don't get him ...he wants to spend his twilight years in NZ, yet he doesn't want to give up Sinkee citizenship.

Anyone wants to trade for my sinkee citizenship ...accepting application now, only from developed countries.

 

[eatshitndie]

I don't get him ...he wants to spend his twilight years in NZ, yet he doesn't want to give up Sinkee citizenship.

Anyone wants to trade for my sinkee citizenship ...accepting application now, only from developed countries.

know a chap who works in the valley for over 20 years in software and still travels with his sg passport. he is a u.s. pr and refuses to give up his sg citizenship. he bought a terrace home in sg a few years ago (during peak) and plans to return for retirement. told him during the 2007 housing bust to buy a home in the valley when it was affordable, but he doubled down in sg instead. his rent alone for over 20 years can pay for a fixer upper that is now worth usd1m. his rent just doubled as demand outstrips supply many times. meanwhile his property in sg loses about 20% in value although he put in about sgd100k in upgrades and remodelling. and he is a little disappointed that he has to top up and pay medishield (medishield life as of november last year) premiums out of his medisave account within his puny cpf for healthcare coverage in sg which has largely alluded him as he's covered by employer in the u.s. die die he wants to grow old and convalesce in sg and maintain his medishield coverage. he says it's one of the best in the world. you can't argue with a person like this.

 

[scroobal]

Have ex-classmates, colleagues, friends etc who have moved over to commonwealth 1st world and the US. In addition I used to cover the Emmigration Folder in SBF early years and there were a lot of questions and PMs on individual situation. Also have access to internal policies here. Got involved because many were misled by old wive's tales especially about NS liabilities for their kids.

Usual sticky situations encountered by Singaporeans migrating are
- selling their HDB flat after they have migrated which is not allowed.
- moving their capital after one year of migrating and facing 45+% plus tax bill
- not knowing foreign income is taxable


By the way most Commonwealth countries including the UK have similar principle / laws when it comes to taxation, movement of funds, travel document protocol. Only the US is drastically different. Singapore businessmen who have assets and business here and who moved to the US eventually end up moving to the commonwealth countries to avoid double dipping.

Notice hardly anyone from the US in this forum. Best to go to the US as a single young adult or a young couple.

Scroobal, looks like you are very well informed of the situations in NZ, are you a nz citizen now?.

 

[The_Hypocrite]

That's why Asians like to come to angmo land ...it is a society where you don't need to work like dogs to survive. There is work-life balance.

The best model is the Scandinavian countries ...there, your major expenses in life are taken care of by taxes paid by everyone. No more financial worries, just live life to the fullest.

Oh yes..no need to work hard in ang mor lands...the grass is greener on the other side

 

[bigboss]

... it did wonders for me, and for that i like to thank the pap.

... and the pappies would like to thank every native sinkie who ran road to emigrate because for every one native sinkie road runner, they would have justification to bring in 10 or 100 foreign imported shits to replace him or re-populate the small island, and being grateful to the pappies for the opportunity to squat in the island, pappies would surely get their votes.

One vote loss to get back 10 or 100 votes gained. Not a bad trade off.