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Opt Out CPF Contribution - Pros and Cons

Dark Knight

Alfrescian (Inf)
Asset
Supposing if you are given a choice to opt out CPF contribution, would you like to do so?

What would be the impact to your daily life even if you got more to take home now?
 

frenchbriefs

Alfrescian (Inf)
Asset
i think the option should be given to people who prove they are savers.....say they have minimum savings equal to 3 years of their annual income and no outstanding credit card debts or loans.mortgage can be disqualified.
 

po2wq

Alfrescian (Inf)
Asset
dun opt out of cpf contribution ... u wil never b able 2 save ze same amount urself ...

but cpf members shud b allowed 2 wifdraw all their cpf amount @ age 55 ...
 

whoami

Alfrescian (Inf)
Asset
At least let us withdraw fm our "employee" contribution when we reach 55. That portion is fm my salary to begin with!
 

frenchbriefs

Alfrescian (Inf)
Asset
dun opt out of cpf contribution ... u wil never b able 2 save ze same amount urself ...

but cpf members shud b allowed 2 wifdraw all their cpf amount @ age 55 ...

rubbish i know many guys in mid 20s with savings of 30k,70k,80k. and some of them barely earn more than 2k.
 

Dark Knight

Alfrescian (Inf)
Asset
i think the option should be given to people who prove they are savers.....say they have minimum savings equal to 3 years of their annual income and no outstanding credit card debts or loans.mortgage can be disqualified.

For those average income earners especially those newly married couples with housing loan to service, they can't really save much these days.
Most of their savings will already been eaten up by their HDB flats during that 20 to 30 years.
Under such common cases, will they still benefit if they opt out CPF contributions?
 

ChaoPappyPoodle

Alfrescian
Loyal
Supposing if you are given a choice to opt out CPF contribution, would you like to do so?

What would be the impact to your daily life even if you got more to take home now?

Opting out alone is not good enough. The entire premise and system should be reworked so that the system works for contributors and not solely for the benefit of the government. It is as simple as that. If a political party that has been in power for over 50 years cannot make a simple thing such as the CPF work then they should all resign. It is as simple as that.
 

po2wq

Alfrescian (Inf)
Asset
rubbish i know many guys in mid 20s with savings of 30k,70k,80k. and some of them barely earn more than 2k.
r their 80k savings made from their salary? ... cpf is savings from ur salary ...

cpf is 4 ur retiremen ... u shud check wif dem their savings again wen dey r 55 ...
 

ChaoPappyPoodle

Alfrescian
Loyal
At least let us withdraw fm our "employee" contribution when we reach 55. That portion is fm my salary to begin with!

And you agree to pay interest rates that are higher than your earned interest should you require to borrow from YOUR OWN MONEY to purchase a home or to further your education or that of your children? And you agree that public housing should be pegged at market value where the government earns even more from you?
 

ChaoPappyPoodle

Alfrescian
Loyal
i think the option should be given to people who prove they are savers.....say they have minimum savings equal to 3 years of their annual income and no outstanding credit card debts or loans.mortgage can be disqualified.

I belive that any government that doesn't want to be transparent should not make it a requirement for its citizens to be transparent.
 

frenchbriefs

Alfrescian (Inf)
Asset
r their 80k savings made from their salary? ... cpf is savings from ur salary ...

cpf is 4 ur retiremen ... u shud check wif dem their savings again wen dey r 55 ...

yeah i think so...usually those with substantial savings in their 20s are those that have been saving when they are young,a habit cultivated from young.
 

johnny333

Alfrescian (Inf)
Asset
As long as a single party is in control, they will never allow Sporeans to opt out because this would cut their access to easy $$$$.
 

whoami

Alfrescian (Inf)
Asset
And you agree to pay interest rates that are higher than your earned interest should you require to borrow from YOUR OWN MONEY to purchase a home or to further your education or that of your children? And you agree that public housing should be pegged at market value where the government earns even more from you?

NO NO NO. Wat i meant is tat portion "employee" contribution is rightfully mine. Of course employer contribution is also mine. But the former is directly deducted fm my gross pay. It should be given back to me when i reach 55!

Aiyah. Dont talk abt interest lah. Peesai 2.5% for ages. Cant even beat our neighbour EPF.

http://www.themalaysianinsider.com/...ares-biggest-payout-of-6.35-dividend-for-2013
 

frenchbriefs

Alfrescian (Inf)
Asset
If you can provide the math so show how the 80K in savings is achieved then do so. Otherwise, you are living in Lalaland.

as far as i know from anecdotes,its not impossible to achieve 20k savings by the time u finish NS....from school allowances to ns pay to part time jobs.and 70,80k are modest figures...theres a guy on edmw whose accumulated nearly 500k by 31 from careful saving,work and investment.when it comes to building wealth,the earlier u start the better.
 
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po2wq

Alfrescian (Inf)
Asset
as far as i know from anecdotes,its not impossible to achieve 20k savings by the time u finish NS....from school allowances to ns pay to part time jobs.and 70,80k are modest figures...theres a guy on edmw whose accumulated nearly 500k by 31 from careful saving,work and investment.when it comes to building wealth,the earlier u start the better.
using ur figures, if a guy has 20k savings after ns, by 25 he has 80k, dat means he saves 60k in 3 or 4 years ... wif a 2k salary, it means dat he does not haf 2 spend much on wat he earns ...

ur eg r xceptions rather dan ze noirm ...
 

frenchbriefs

Alfrescian (Inf)
Asset
using ur figures, if a guy has 20k savings after ns, by 25 he has 80k, dat means he saves 60k in 3 or 4 years ... wif a 2k salary, it means dat he does not haf 2 spend much on wat he earns ...

ur eg r xceptions rather dan ze noirm ...

well i didnt say the 2k guy saved 80k....but he did save alot
 

escher

Alfrescian (Inf)
Asset
i think the option should be given to people who prove they are savers.....say they have minimum savings equal to 3 years of their annual income and no outstanding credit card debts or loans.mortgage can be disqualified.

NO FUCKING CONDITIONS TO BE SET
WHO THE FUCK ARE YOU TO SET CONDITIONS

WHO GIVE YOU THE FUCKING RIGHT TO SET CONDITIONS ON OTHER PEOPLE MONEY
LIKE THAT SMEAR OF SHIT ON SOLE OF SHOE LKY?

MAKE THOSE PAPs DANCE UNDER THE LAMP POSTS
OR MAKE THEM WEAR NECKLACE OF BURNING CAR TYRES



GET RID OF THE POISON IN SINGAPORE
HANG ALL THOSE FUCKING PAPs AND THEIR COLLABORATORS
BBQ THE BASTARD PAPs

AND SINGAPORE CAN BE AS GOOD IF NOT BETTER THAN SWITZERLAND

OR REMAIN HEAD DOWN DOWN AND ARSEHOLES UP HIGH HIGH TO BE FUCKED TO BE TIEWED TO BE KANNED BY THE PAP MAGGOTS COCKROACHES

Kill them all PAPs
Let GOD sort out the good from the really bad ones
The good PAPs can then eat joss sticks and candle wax from time to time
The bad PAPs like smear of shit on sole of shoe LKY will be raped and tiewed and kanned by legions of ghouls and demons and not ever
get time off to eat joss sticks and candle wax

Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.

BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.

Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.

Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.


None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.

They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP.

Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.

Despite the leeching and fucking of singaporeans by the cheebye PAP and LKY, Singapore still managed to survive to date.
Despite their being hung as a fucking millstones around the necks of Singaporeans and the idiocy and corrupt manipulations of PAP and LKY, Singapore still not dead yet.

WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS

WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN

WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.

AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.

https://www.torproject.org/about/overview.html.en
 

po2wq

Alfrescian (Inf)
Asset
dun opt out of cpf contribution ... u wil never b able 2 save ze same amount urself ...

but cpf members shud b allowed 2 wifdraw all their cpf amount @ age 55 ...
my point here is not very clear ... lemme put it in a different way ...

if a person kips ze cpf contribution moni himself vs keeping it in cpf (which he cannot wifdraw until age 55), @ age 55, dat person wil most likely find dat ze amount he has is less than had he kept it @ cpf ... 4 sum, it may even b 0 ...
 
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sleaguepunter

Alfrescian (Inf)
Asset
rubbish i know many guys in mid 20s with savings of 30k,70k,80k. and some of them barely earn more than 2k.

well i didnt say the 2k guy saved 80k....but he did save alot

er... look at your first post again. $80k saving by a guy barely earning $2k.

i give u $3k per mth, take home $2400.00, one month bonus, so take home $31200 a year. save $20k that mean $11200 for 365 days, equal to $30.68 per day. sound impressive and doable but that would mean this person never contribute to family expense.

if only $2k, his take home only $ 20800, how to save $20k per year?
 
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