With PAP in Charge, Singapore Will Never Be Like Hongkanese Living in Shitty Small Housing and Protesting Every Weekend!

[AhMeng]

KNN although it is just a 1 liner footnote 5 but it requires phd mathematics to decode the meaning KNN

It's a black hole. Lol

 

[AhMeng]

Better ask CPF board for clarification. But does look like u are right in the first post. It's so poorly worded no one understands it. Footnote refers to retirement savings though it probably refers to property value. Wtf.

A scheme that is so complex. End of the day, if peasants KPKB, it's also not peasants' fault. Lol

 

[JohnTan]

The hard truth is that the PAP has done very well in managing our economy, sinkie purchasing power, availability and affordability of housing for sinkies.

As long as PAP doesn't fuck these up, they won't lose power.

 

[AhMeng]

The hard truth is that the PAP has done very well in managing our economy, sinkie purchasing power, availability and affordability of housing for sinkies.

As long as PAP doesn't fuck these up, they won't lose power.

Hey Mr PA Dog, can sexplain footnote 5?

 

[winnipegjets]

Why would any household with an income of $1500 want to buy a flat? Or a single who earns only $750.

 

[Annunaki]

The hard truth is that the PAP has done very well in managing our economy, sinkie purchasing power, availability and affordability of housing for sinkies.

 

[Semaj2357]

Any forummers here can explain the impact of footnote 5? My brain a bit dense today..Lol

#4 should cover all pg and some mg cohorts depending on age of flats as those sit ones are -/+ 40 yrs.
#5 would refer to anything that's above one's brs (of $90.5k) that can be withdrawn, based on existing value of flat, less those 3 amounts stated.
assuming if you sell / transfer your flat, cpf will claw back those amts withdrawn and return the monies you withdrew, back to your brs acct.

1. *you are 55 years old and above; and
   [*]own a property with remaining lease that can last you to at least 95 years old. This recognises that your current home is sufficient to meet your retirement housing needs without the need to worry about incurring rental cost in old age.

You can withdraw your RA savings above the BRS fully if the expected CPF housing refund is able to restore your RA to your Full Retirement Sum when you sell/transfer the property in future.

that's how i think it is - and stand to be corrected

 

[AhMeng]

#4 should cover all pg and some mg cohorts depending on age of flats as those sit ones are -/+ 40 yrs.
#5 would refer to anything that's above one's brs (of $90.5k) that can be withdrawn, based on existing value of flat, less those 3 amounts stated.
assuming if you sell / transfer your flat, cpf will claw back those amts withdrawn and return the monies you withdrew, back to your brs acct.

that's how i think it is - and stand to be corrected

Even you are like all of us here guessing how this footnote 5 works.
Many thanks for attempting to interpret.
Fugging CPF Board...Lol
Putting a footnote that is so "tsim" which opens to interpretations ... no wonder peasants also tulan with CPF. Lol

 

[AhMeng]

#4 should cover all pg and some mg cohorts depending on age of flats as those sit ones are -/+ 40 yrs.
#5 would refer to anything that's above one's brs (of $90.5k) that can be withdrawn, based on existing value of flat, less those 3 amounts stated.
assuming if you sell / transfer your flat, cpf will claw back those amts withdrawn and return the monies you withdrew, back to your brs acct.

that's how i think it is - and stand to be corrected

My interpretation on the other hand is what is not yours will never be yours.

So any CPF Housing Grants, Govt Top Ups or whatever given to you in the course of your existence as a sinkie, the interests earned on such sums thereon, cannot be withdrawn lumpsum on reaching 55.

It will always remain inside your CPF blackhole accounts to form BRS, FRS or ERS. So if you take say 50k CPF Grant, you need to set aside 181k FRS + 50+interest inside the CPF black hole.

Like you, I stand to be corrected. God help Sinkies to understand all these devilish details. Lol

 

[Semaj2357]

My interpretation on the other hand is what is not yours will never be yours.

So any CPF Housing Grants, Govt Top Ups or whatever given to you in the course of your existence as a sinkie, the interests earned on such sums thereon, cannot be withdrawn lumpsum on reaching 55.

It will always remain inside your CPF blackhole accounts to form BRS, FRS or ERS. So if you take say 50k CPF Grant, you need to set aside 181k FRS + 50+interest inside the CPF black hole.

Like you, I stand to be corrected. God help Sinkies to understand all these devilish details. Lol

another thing is that they shift the black holes and goalposts so far back and high, that many regular folks cannot reach nor be in a position to withdraw anything except to pick cardboxes and live like paupers till they croak penniless - so near, yet so far!

 

[syed putra]

Hong kong has plenty of wide open spaces but they will not allow it to be developed.
Imagine almost the same area must now cater to a population many times more than say in 1960's. Cannot extend beyond city limit.

 

[AhMeng]

another thing is that they shift the black holes and goalposts so far back and high, that many regular folks cannot reach nor be in a position to withdraw anything except to pick cardboxes and live like paupers till they croak penniless - so near, yet so far!

Fucking 70% voters supports shift goal posts

 

[ToaPehGong]

Higher income ceilings, enhanced housing grant for HDB flat buyers
www.channelnewsasia.com

​

SINGAPORE: The income ceilings to qualify for the purchase of new Housing Board flats will be raised and first-time flat buyers will get more generous housing grants from Wednesday (Sep 11).

The household income cap will go up from S$12,000 to S$14,000 for families looking to buy a Build-To-Order (BTO) flat. This increased cap will also apply to HDB housing loans.

Those looking to buy an Executive Condominium will also benefit from a higher income cap, up from S$14,000 to S$16,000. For singles aged 35 and above the new income ceiling will be S$7,000, up from S$6,000.

The income ceiling was last raised in 2015.

The changes will give more home buyers access to affordable housing options, National Development Minister Lawrence Wong said on Tuesday at an event to recognise HDB projects for their excellence in design, construction and engineering.

NEW ENHANCED HOUSING GRANT

HDB will also make it easier for first-time home buyers to qualify for its housing grants.

The Enhanced CPF Housing Grant (EHG) will place no restrictions on flat buyers' choice of flat type or location, and can be used for new or resale flats.

It also has an income ceiling of S$9,000, higher than the two existing schemes it replaces - the Additional CPF Housing Grant (AHG) and the Special CPF Housing Grant (SHG).

The income cap for AHG is S$5,000 while the SHG has a cap of S$8,500 and is restricted to purchases of four-room or smaller new flats in non-mature estates.
However, flat buyers can only get the full EHG grant if the flat lease can cover them and their spouses to the age of 95. Families who buy flats with shorter leases will have their grants pro-rated.

"This is to ensure that all Singaporeans will be able to live comfortably in a home that can last them for life," HDB said.

For example, a first-timer couple with a combined income of S$4,800 looking to buy a four-room BTO flat in a mature estate will receive an EHG of S$45,000. Under the current scheme, the couple will only enjoy a S$5,000 AHG.

Those buying resale flats can also qualify for the Proximity Housing Grant on top of the EHG, provided they fulfil the requirements. This is not unique to first-time buyers.
"The Enhanced Housing Grant is a major step forward in making HDB flats more affordable for all first-timers," said Mr Wong.

"Home buyers will have more options for larger BTO flats in mature estates, and also the wide variety of readily available flats in the resale market."

Those who want to live near their parents will now have many more affordable options, he added.

With these changes, HDB said that it expects demand for public housing to increase. It will likely increase the BTO supply in 2020, it added.

NEW HDB PORTAL

The Minister also announced plans for a new HDB portal which will give buyers information on both new flats offered by HDB and resale flats on one platform, said Mr Wong.

Sellers can also list and advertise their flats, and complete the resale application on the portal.

"All this is work in progress, and we intend to get the new portal ready by the end of next year," said Mr Wong.

With the increase in income ceiling, caps for HDB assistance schemes will also be raised from S$6,000 to S$7,000. These include the Fresh Start Housing Scheme and the Step-Up CPF Housing Grant.

Eligible seniors with household incomes of up to S$14,000 or less will also be eligible for the Lease Buyback Scheme, the Silver Housing Bonus, and to purchase a short lease two-room Flexi flat, up from the previous income cap of S$12,000.

So what if the hdb schemes improved. Fat fugly CB face Kirsten Han and AMDK hubby stays in private housing, doesn't affect them.

 

[batman1]

with PAP in charge,everything will be no.1 in the world.