Singaporeans will have adequate CPF savings....

[Equalisation]

screw CPF LIFE, just return me my CPF monies

Tuan,

I will not be very surprised if the retirement age will be pushed further up to 70......

 

[melzp]

Tharman, speak for yourself n cronies. Yr immediate task is to help the old ones first now.
No need you to see the crystal ball

 

[kopiuncle]

TS you take your master's bullshit as gospel truth?

No lah Brudder Nalong. From what I have read here, I think no money for me liao. Maybe have to beg or be a cleaner or a toilet jaga to pass my days.

Why CPF is so complicated. I get headache every time I think about it. Many years ago, I thought I can retire happily with so much money i my CPF...but it seems to me my that CPF will be kept safely in one big steel vault. For me it's also good lah. I don't want to use my money to donate to Singapore Pools or to the two IRs.

I can be quite reckless in my spending.Old already got money anyhow spent until zero. Maybe the CPF is good afterall.

 

[Papsmearer]

No lah Brudder Nalong. From what I have read here, I think no money for me liao. Maybe have to beg or be a cleaner or a toilet jaga to pass my days.

Why CPF is so complicated. I get headache every time I think about it. Many years ago, I thought I can retire happily with so much money i my CPF...but it seems to me my that CPF will be kept safely in one big steel vault. For me it's also good lah. I don't want to use my money to donate to Singapore Pools or to the two IRs.

I can be quite reckless in my spending.Old already got money anyhow spent until zero. Maybe the CPF is good afterall.

Don't worry, when u are old and retired, got no money for food, you can still get your daily protein fix by swallowing all the cum from the bangla cocks u suck.

 

[zhihau]

I can be quite reckless in my spending.Old already got money anyhow spent until zero. Maybe the CPF is good afterall.

for a moment me thought the garhmen's motto had always been "you die your own business"? :*::*::*:

 

[ray_of_hope]

Incorrect.

Go to the cpf website to verify. I also thought so earlier.

At age 55, you can only take out the amount that is above the minimum sum of $140k. For example, if you got $160k in retirement account, you can only take $20k.

If you got $120k in retirement account, you only get a token $5k since your $120k is below min sum of $140k. The pledging of property pertains to those who have not reach the min sum. For example if you got $120k and min sum is $140k, the shortfall of $20k can be pledged by property.

Scary.

Seems you are right. I had enquired with the CPF Board on this back in 2008 and even I misinterpreted their email reply. This is of course absolutely terrible news. I have to re-budget everything now. :(

 

[kopiuncle]

Don't worry, when u are old and retired, got no money for food, you can still get your daily protein fix by swallowing all the cum from the bangla cocks u suck.

aiyah you again
bark like a rabid dog
talk like a mad clot
nevermind lah
let you be lah
vulgarity is your trait
profanity is your virtue
may heaven bless you
turn over a new leaf soon...

 

[Narong Wongwan]

Uncle why you got this mentality?
Money is yours....of course inside you pocket it always better inside others pocket........
Anyways you mentioned in another thread you 90 years old liao.....that means no issues lah....you belonged to the era when you withdrew all your CPF at 55.......
Trying to pull a fast one si bo?

No lah Brudder Nalong. From what I have read here, I think no money for me liao. Maybe have to beg or be a cleaner or a toilet jaga to pass my days.

Why CPF is so complicated. I get headache every time I think about it. Many years ago, I thought I can retire happily with so much money i my CPF...but it seems to me my that CPF will be kept safely in one big steel vault. For me it's also good lah. I don't want to use my money to donate to Singapore Pools or to the two IRs.

I can be quite reckless in my spending.Old already got money anyhow spent until zero. Maybe the CPF is good afterall.

 

[Narong Wongwan]

I urge all to churn your CPF.....if you can get back 50cents to the dollar you count as win liao.
Leave 35% to buy shares......if can make then more money for you to churn.

 

[zhihau]

Seems you are right. I had enquired with the CPF Board on this back in 2008 and even I misinterpreted their email reply. This is of course absolutely terrible news. I have to re-budget everything now. :(

taking a look at a decent 1000 sqft HDB, costs approximately SGD$350,000.00, plus interests accrued over 30 year loan period, easily hitting SGD$623,000.00.
how many can hit the minimum sum?

 

[eatshitndie]

taking a look at a decent 1000 sqft HDB, costs approximately SGD$350,000.00, plus interests accrued over 30 year loan period, easily hitting SGD$623,000.00.
how many can hit the minimum sum?

how many times have we told you to emigrate and withdraw your cpf after renunciation? :p

 

[kopiuncle]

Uncle why you got this mentality?
Money is yours....of course inside you pocket it always better inside others pocket........
Anyways you mentioned in another thread you 90 years old liao.....that means no issues lah....you belonged to the era when you withdrew all your CPF at 55.......
Trying to pull a fast one si bo?

Brudder, I am still hoping to get some money when I reach 55 lah.
Maybe I go Bangkok and spend you at Sawadeekah Chinatown shark's fin soup at NamSing.

 

[I_Hate_Pappies]

"The Central Provident Fund is designed to help Singaporeans save enough for their retirement years."

Retirement is a myth for most Sinkies. Maybe that's why he don't dare to state age of retirement. Not even an indicative. :oIo:

 

[streetsmart73]

let's do some maths shall we?

assuming a monthly gross salary of SGD$2500.00 : CPF contribution would be around SGD$500.00 (employee) and around SGD$350.00 (employer), a total amount of CPF contribution would chalk up approximately 65% or SGD$490.00 in OA, the remaining in SA & MA. a year later, that's approximately SGD$6K in OA and SGD$4.3K in SA & MA. easily 10K a year, 40 years of work can chalk up 400K, assuming that the salary is stagnant.

would seem like a comfortable sum of seed money for retirement funds provided there's no utilisation of the CPF to buy things like Medishield, Dependent Scheme, and the biggest culprit of all, the HDB. couple that with inflationary forces, if the salary doesn't rise in tandem with inflation rates, the employees are screwed hard, what retirement fund is there to speak of?

hi there

1. bro, good one!
2. only dafter sheep; we have a few here too! believe the load of crap.
3. figures just do add up too!
4. adequate for retirement,my foot.
5. honest, nowadays, nothing remains unchanged.
6. there is simply no constant!
7. dafter sheep still cannot get it.

 

[streetsmart73]

Brudder, I am still hoping to get some money when I reach 55 lah.
Maybe I go Bangkok and spend you at Sawadeekah Chinatown shark's fin soup at NamSing.

hi there


1. hahaha!
2. kopi, you can dream on.
3. oops! you are already 90.
4. beware, you may get some heart attack visiting bkk!

 

[hawker]

SINGAPORE: Young Singaporeans in the workforce today will have adequate savings in their Central Provident Fund (CPF) accounts by the time they retire, according to an independent study by the Ministry of Manpower.


However, Mr Tharman said the challenge is ensuring CPF savings are able to deliver payouts that are enough for retirement.

These 2 statements already contradict each other. Still trying to con people.

The best retirement plan is to fully ignore whatever $ you have inside when you make your plans. I fully agree with leongsam on this even though he is quite a snoobish XXXXer.

As for the CPF, just use it in whatever ways you can like for housing, education and medical. Don't expect to see significant amount of it.

 

[streetsmart73]

hi there


1. yo!
2. botak snake, substantiate your statement leh.
3. just like blowing hot airs into the sky.

 

[Leongsam]

how many times have we told you to emigrate and withdraw your cpf after renunciation? :p

I simply cannot understand why the concept of "cashing out" is so difficult to grasp.

While the Singapore govt may do a very poor job in providing security and welfare to the masses, they have done a fantastic job when it comes to asset enhancement. Keeping the SGD strong adds a substantial amount of icing to the cake.

In the game of life, one has to side step the weaknesses while capitalising on the strengths of the cards you are dealt. The PAP certainly has done an excellent job for those who wish to cash in their chips.

Imagine buying an HDB pigeon hole for $200,000 and being able to sell it for close to 7 figures in less than a decade.

 

[ray_of_hope]

Theoretically, renunciating citizenship and then collecting one's CPF monies is an option. In practical terms however there are a number of hurdles, chief of which is that most countries have a 5-year timeframe from when you first become a PR to when you can become a citizen.

I have scouted round to search for those countries where the whole process can be shortened. There are only a very few of such countries, and none are particularly attractive. If people know of countries where this can be done within 2 years, please do post that here.

 

[eatshitndie]

I simply cannot understand why the concept of "cashing out" is so difficult to grasp.

Imagine buying an HDB pigeon hole for $200,000 and being able to sell it for close to 7 figures in less than a decade.

many sinkies don't appreciate massive asset enhancement dealt for them by the pap gov. and many just can't understand and deal with sudden wealth and the concept of cashing out on that wealth. they're sitting on it yet blaming the pap for meagre cpf returns. penny wise, pound foolish.