unfair cpf ruling

[hochiminhcity]

1. you will need to top up your minimum sum....now it is about $123,000 and 10 years from now...who knows how much....could be $200,000.
If insufficient, then the law states that when you sell your HDB, you will need to pledge to use the resale money to top up the difference to 50%....it could be much higher if they change it .

2. Then there is the minimum medisave ...now it is $25,000 (JULY 2010)...few years later it could increase

Third is the compulsory ( CPF LIFE)which all Singaporeans and PR below age 55 must contribute into. you will need to top up your minimum sum....now it is about $123,000 and 10 years from now...who knows how much....could be $200,000.
payout at age 65, Imho it too late for retiree to enjoy the fruit of labour.

if thinking of migrating, CPF life premium pay is non refundable.
so think carefully before sign up bros.

 

[pohchuan]

What if we do not sell HDB and rent out the place for rental income? Presume that you have pass the minimum occupation period. No need to bother abt minimum sum right?, and u got payout from the rents.

Someone, correct my mistake here please.

 

[depeche]

What if we do not sell HDB and rent out the place for rental income? Presume that you have pass the minimum occupation period. No need to bother abt minimum sum right?, and u got payout from the rents.

Someone, correct my mistake here please.

But in the long term, your blood sweat money is still in the mercy of the regime; best is to emigrate and collect them all!

 

[borom]

If all those who are unhappy migrate, who will vote them out ?

Its better to vote them out so that a new govt can change the law.

 

[neddy]

If all those who are unhappy migrate, who will vote them out ?

Its better to vote them out so that a new govt can change the law.

Which new govt is capable of changing the law?

How confident that a non-PAP Singapore will be a bankrupt state because why should PAP leave anything behind for their opposition to squander?

In Singapore, the vote that works is the vote with the feet. The rest of the voting system, ie the GE & presidential, has fallen beyond repair.

Things will not change overnight. Neither do we expect a change of govt to be better. Singaporeans can wait forever for a better opposition to form govt.

 

[axe168]

But in the long term, your blood sweat money is still in the mercy of the regime; best is to emigrate and collect them all!

Oh yes ! I totally agree of what you say..
On contrary, some would hold on to their CPF and citixen.. coz they said it is good for them. Of coz they will be earning pathetic 2.5%.

 

[axe168]

You are absolutely right ! This is why the important job shall leave it to CSJ or CST - the warrior of the future ! As for quitters, they will quietly retreat into the bush and enjoy their red wine..:p

If all those who are unhappy migrate, who will vote them out ?

Its better to vote them out so that a new govt can change the law.

 

[chootchiew]

This CPF thing is designed and always changing in such a way that the $ does not belongs to us literally. It is almost close to.. only when you die then your nominee can enjoy the $. However there are people who does not have any nominee nor offspring to cash it out when the time comes..