Singaporeans will have adequate CPF savings....

[batman1]

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.

How do u pledge your HDB property ?
Does it mean your HDB property title deed will be given to CPF as a pledge/collateral in return for a loan from CPF to top-up the shortfall (e.g. $20K) in your minimum sum ?
How much interest do u have to pay for the loan from CPF ?
It seems quite illogical and nonsensical that u have to borrow money with interest payable so as to top-up the shortfall
in your own CPF account (CPF minimum sum) ?
Are the PAP punishing u financially for not having sufficient funds in your CPF minimum sum ?
What type of Govt would do this sort of cruel thing to its own Singapore Citizens ?

 

[eatshitndie]

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.

a 5-year or 6-year plan is not too long. anything within 2 years is just a lame excuse to defer or diffuse.

 

[mojito]

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 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.

The smart thing to do for asset owners is to fold and leave with their windfall, which I agree wholeheartedly.

I am sure some part of your subconsciousness is saying this ponzi cannot go on ad infinitum. In this respect I say the PAP has taken us down the path of no return, and somebody's gonna get hurt real bad.

 

[Cruxx]

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.

Boss, Belgian citizenship - 3 years. You'll automatically become an EU citizen and then you can settle in any member state of this wonderful region.

 

[zhihau]

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.

what ever happened to Patriotism??? :o:o:o

 

[eatshitndie]

what ever happened to Patriotism??? :o:o:o

omg. how naive. sg is not a country. a cuntry perhaps.

 

[Narong Wongwan]

What type of Govt would do this sort of cruel thing to its own Singapore Citizens ?

the type that your fellow sinkies....60.1% of them voted in.

 

[ray_of_hope]

Boss, Belgian citizenship - 3 years. You'll automatically become an EU citizen and then you can settle in any member state of this wonderful region.

Thanks! I'll explore this.

 

[Leongsam]

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.

First of all, 5 years is a perfect time frame. It means that once you've settled in to your new routine, you're pretty much ready to draw on your windfall.

If you want a shorter period, NZ citizenship can be applied for after 18 months of residency. It usually takes 6 to 8 months for approval so there's your 2 years. It's an excellent retirement destination.

 

[laksaboy]

omg. how naive. sg is not a country. a cuntry perhaps.

This is my cuntry
This is my fag
This is my future
This is my life
This is my Familee
These are my friends
We are Sink-a-poor
Sink-a-poor-lians

 

[streetsmart73]

This is my cuntry
This is my fag
This is my future
This is my life
This is my Familee
These are my friends
We are Sink-a-poor
Sink-a-poor-lians

hi there


1. bro, good one!
2. now, kopiuncle or the sbf resident bitch can do something betterer than this or what.
3. hahaha!

 

[kopiuncle]

hi there


1. bro, good one!
2. now, kopiuncle or the sbf resident bitch can do something betterer than this or what.
3. hahaha!

i salute laksaboy
with his excellent poem
this forum has improved
the standard has been raised
thanks to all the brothers here
for all the poetic grace....

 

[ray_of_hope]

First of all, 5 years is a perfect time frame. It means that once you've settled in to your new routine, you're pretty much ready to draw on your windfall.

If you want a shorter period, NZ citizenship can be applied for after 18 months of residency. It usually takes 6 to 8 months for approval so there's your 2 years. It's an excellent retirement destination.

Thank you very much, Sir. I will also make enquiries on this.

 

[halsey02]

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.

You pledge your property, Pinnacle is 3 mil, Queentsown & Bishan 1 - 1.25m..so the minimum sum in the future will be S$4,000,000 so what is the "Botak" Tharman talking about..ok, ok!, they will give you 'door gift' of S$20,000 ( by then it is just adequate) to withdraw at 65, "some" ( by then) and retire at 75.

My point is, they keep raising the 'bar', for they never consulted us, even though it is OUR MONEY, they treat it as it is THEIR MONEY. That is my point! Consult the owners of the MONEY before they change any rules or start new one...it is our MONEY, we should be asked first! it is not THEIR MONEY.