-
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.
Should CPF allowed to withdraw for those who is jobless/retrenched
- Thread starter streetcry
- Start date
what should be installed in singapore is some form of UNEMPLOYMENT INSURANCE,,,That each worker contribute monthly[ from CPF] a premium to an insurance fund..and in the event that one is unemployed ..he/she shall received a minimun sun commensurate with the insured premiun..that is to tie them over during the 6 to 12 months to get another job...this insurance can work as follows
1] it cover minimum sustenance monies ,,including consideration of schooling or young kids.
2] it can act in hand with baks that..the unemployed person can get interest to serve the bank for a period of 6 to 12 months until he got a job
in this way...a family or person will not be driven into extreme deprivation in such situations.....
SUGGEST THE RELAVANT GOV DEPARTMENT TO LOOK INTO IMPLEMENTING SUCH POLICY UNDER THE CPF SCHEMES...
1] it cover minimum sustenance monies ,,including consideration of schooling or young kids.
2] it can act in hand with baks that..the unemployed person can get interest to serve the bank for a period of 6 to 12 months until he got a job
in this way...a family or person will not be driven into extreme deprivation in such situations.....
SUGGEST THE RELAVANT GOV DEPARTMENT TO LOOK INTO IMPLEMENTING SUCH POLICY UNDER THE CPF SCHEMES...
Most if not all the working class in CHINA will have a retirement paid out every months,,in the range od 2000 to 5000 depending on his last jobs before retirement..on top of that ,the retirer enjoy medical benifits ..HOW..they have 4 compulsory benifits...retirement fund[ similar to CPF]. medical insurence fund,,unemployment insurance funds.......
we can adopt a unemploment insurance fund..similar to medical insurance fund....so our gabmen should study such a system and implement it.....especially our economy is structure as a HIGH GROWTH BUT HIGH VOLATILITY MODEL..as demonstrated by the exceptional impact of this recent US-induced financial crisis...that our workers are susceptable to short cyclicalup-and dowm in the economical cycles........
WE SHOULD URGE OUR GABMEN TO IMPLEMENT UNEMPLOYMENT INSURANCE SERIOULY!!!!!!
we can adopt a unemploment insurance fund..similar to medical insurance fund....so our gabmen should study such a system and implement it.....especially our economy is structure as a HIGH GROWTH BUT HIGH VOLATILITY MODEL..as demonstrated by the exceptional impact of this recent US-induced financial crisis...that our workers are susceptable to short cyclicalup-and dowm in the economical cycles........
WE SHOULD URGE OUR GABMEN TO IMPLEMENT UNEMPLOYMENT INSURANCE SERIOULY!!!!!!
This actually makes a lot of sense - "No, you Will Squandered Away your Money"
The dumb Chink will lose the lot to some PRC mei mei who flashes her boobies.
Keep the money in the CPF and pay these clowns what they need to survive I say.
The dumb Chink will lose the lot to some PRC mei mei who flashes her boobies.
Keep the money in the CPF and pay these clowns what they need to survive I say.
[COLOR="_______"]CPF money a lot was lost by HOJinx laio....dunno got enuff to pay off all CPF liabilities?
After there is no transparencies and accountability by PAP in whatever they do.
The chao cheebye old man got the audacity to say on TV that somethings we should not know cos it is better.
Chao Cheebye old man got fark your whole famiLEE.
The Hell Gates is waiting for u.
Make sure u visit them this 7th month ...it is long over due! [/COLOR]
After there is no transparencies and accountability by PAP in whatever they do.
The chao cheebye old man got the audacity to say on TV that somethings we should not know cos it is better.
Chao Cheebye old man got fark your whole famiLEE.
The Hell Gates is waiting for u.
Make sure u visit them this 7th month ...it is long over due! [/COLOR]
Parliament passes new CPF Life plan with aim of celebrating longevity
SINGAPORE: Celebrating greater longevity with CPF Life is the aim of changes to the CPF Act passed by Parliament on Monday to ensure members have an income for the rest of their lives.
But several MPs expressed concern over those who have less than S$40,000 in accounts to fully benefit from the scheme.
It started with 12 different plans for CPF Life and now it's down to just four - Life Plus Plan, Life Basic Plan, Life Income Plan and Life Balanced Plan.
Members with at least S$40,000 in their Retirement Account will be automatically included, while those with lower cash balances can opt-in.
LIFE Plus Plan offers higher monthly income but leaves behind less for beneficiaries.
For the LIFE Basic Plan, members accept a lower monthly income for higher bequest amount.
The LIFE Income Plan offers the highest monthly income but members would leave nothing behind when they pass away.
The default plan is the LIFE Balanced Plan which will provide a balance between a level of retirement income and some bequest amount if they pass away early.
Manpower Minister Gan Kim Yong, said: "Over the years our CPF policies have evolved to better address our changing needs and they will continue to evolve.
CPF Life is our unique response to address the challenges of our ageing population and it marks an important milestone in the evolution of the CPF."
This was a major concern for trade unionist Halimah Yacob as the number of Singaporeans working part time or on contract work has increased.
She said: "Our low-wage workers are the ones who need such a scheme the most as they are not likely to have discretionary savings or other assets. I would like to ask the Minister to study this issue carefully, so that we can have a truly inclusive CPF Life scheme."
In her maiden speech in Parliament, Nominated MP Pauline Straughan, suggested programmes for the vulnerable poor.
She said: "As we move towards a more comprehensive coverage for Singaporeans, it is even more critical for us to ensure that no group is omitted from the lifelong income fund. If we failed to do so, we may inadvertently entrench social inequality."
The CPF Board estimates that at least 70 per cent of members turning 55-years- old in 2013, will have at least S$40,000 in their retirement accounts.
Mr Gan said: "There is no minimum balance required to participate in CPF Life. All members, regardless of their CPF balances, can opt-in into the scheme.
“However, members with a very low balance may not be in a position to maximise the benefits from CPF Life."
For them, schemes like Workfare will come in handy where older, low-wage workers receive an income supplement, of which a portion is credited into the recipient's CPF to shore up his retirement savings.
Changes to the CPF Act also address the issue of members who are mentally incapacitated.
Currently, under the Mental Capacity Act, a court ruling cannot affect a CPF nomination.
So, rules dealing with nominations will also be amended to allow the courts to do this, in the best interest of the member. - CNA/vm
SINGAPORE: Celebrating greater longevity with CPF Life is the aim of changes to the CPF Act passed by Parliament on Monday to ensure members have an income for the rest of their lives.
But several MPs expressed concern over those who have less than S$40,000 in accounts to fully benefit from the scheme.
It started with 12 different plans for CPF Life and now it's down to just four - Life Plus Plan, Life Basic Plan, Life Income Plan and Life Balanced Plan.
Members with at least S$40,000 in their Retirement Account will be automatically included, while those with lower cash balances can opt-in.
LIFE Plus Plan offers higher monthly income but leaves behind less for beneficiaries.
For the LIFE Basic Plan, members accept a lower monthly income for higher bequest amount.
The LIFE Income Plan offers the highest monthly income but members would leave nothing behind when they pass away.
The default plan is the LIFE Balanced Plan which will provide a balance between a level of retirement income and some bequest amount if they pass away early.
Manpower Minister Gan Kim Yong, said: "Over the years our CPF policies have evolved to better address our changing needs and they will continue to evolve.
CPF Life is our unique response to address the challenges of our ageing population and it marks an important milestone in the evolution of the CPF."
This was a major concern for trade unionist Halimah Yacob as the number of Singaporeans working part time or on contract work has increased.
She said: "Our low-wage workers are the ones who need such a scheme the most as they are not likely to have discretionary savings or other assets. I would like to ask the Minister to study this issue carefully, so that we can have a truly inclusive CPF Life scheme."
In her maiden speech in Parliament, Nominated MP Pauline Straughan, suggested programmes for the vulnerable poor.
She said: "As we move towards a more comprehensive coverage for Singaporeans, it is even more critical for us to ensure that no group is omitted from the lifelong income fund. If we failed to do so, we may inadvertently entrench social inequality."
The CPF Board estimates that at least 70 per cent of members turning 55-years- old in 2013, will have at least S$40,000 in their retirement accounts.
Mr Gan said: "There is no minimum balance required to participate in CPF Life. All members, regardless of their CPF balances, can opt-in into the scheme.
“However, members with a very low balance may not be in a position to maximise the benefits from CPF Life."
For them, schemes like Workfare will come in handy where older, low-wage workers receive an income supplement, of which a portion is credited into the recipient's CPF to shore up his retirement savings.
Changes to the CPF Act also address the issue of members who are mentally incapacitated.
Currently, under the Mental Capacity Act, a court ruling cannot affect a CPF nomination.
So, rules dealing with nominations will also be amended to allow the courts to do this, in the best interest of the member. - CNA/vm
our CPF money is for famiLEE to gamble and invest ....famiLEE owns everything in SinkaPoor ...kangaroo courts, Poodles, power & untilities...simi lanjiao lumpar alll belongs to them.
Similar threads
