Serious So do you think Khaw Boon Cheated Us
- Thread starter BoonTiong
- Start date
- Joined
- Jul 11, 2012
- Messages
- 979
- Points
- 43
The CPF Life Insurance is designed to payout based on the severity of your sickness. The more serious it is the higher the payout.
In another word if you lose 4 limbs the payout is 90%. You are entitled for a 100 % payout if your head is entirely smashed after losing your 4 limbs.
It is a scheme where one must hope for the worst in order to enjoy the benefits.
Something like...they give you free coffin including all funeral expenses if you bite the dust before Feb ends.
PAP is Great!
In another word if you lose 4 limbs the payout is 90%. You are entitled for a 100 % payout if your head is entirely smashed after losing your 4 limbs.
It is a scheme where one must hope for the worst in order to enjoy the benefits.
Something like...they give you free coffin including all funeral expenses if you bite the dust before Feb ends.
PAP is Great!
- Joined
- Jul 19, 2011
- Messages
- 28,046
- Points
- 113
Anything from the PAP is a lose for sinkees. That's a given. You pay, you never get back what you pay.
PAP says they are for low taxes but they levy all kinds of fees and insurance on you ...you end up paying more than taxpayers elsewhere and get back little.
The biggest rip off is the CPF.
PAP pays you 2.5 percent while they earn 8 percent. The 5.5 percent returns taken by the PAP crushed any sinkee's plan for a secure retirement.
How much is lost? If you contribute $10k a year to CPF for 30 years, you see a paltry $460k at the end of period. If that money is invest in SPY (US etf), you get $1 million.
SPY returns $750k vs CPF returns of $150k ...you lost out $600k in returns.
PAP says they are for low taxes but they levy all kinds of fees and insurance on you ...you end up paying more than taxpayers elsewhere and get back little.
The biggest rip off is the CPF.
PAP pays you 2.5 percent while they earn 8 percent. The 5.5 percent returns taken by the PAP crushed any sinkee's plan for a secure retirement.
How much is lost? If you contribute $10k a year to CPF for 30 years, you see a paltry $460k at the end of period. If that money is invest in SPY (US etf), you get $1 million.
SPY returns $750k vs CPF returns of $150k ...you lost out $600k in returns.
Similar threads
