Falling CPF contribution Rates

[Cheekg98]

Is this a growing concerns that the younger generation will have problems retiring with cpf funds ? Esp. you see the rates in the 80s is so much higher ...

 

http://mycpf.cpf.gov.sg/NR/rdonlyres/27074...butionRates.pdf

Edited June 20, 2008 by Cheekg98

[Shull]

er..

 

CPF funds ours meh???

[Dumb]

Long ago not only the CPF contribution rates were 25% + 25%, interest rate was 6% pa compared to 2.5% now. Long ago MIW pay was low, but now???

[Cheekg98]

that time, one of my friends' auntie already got 400K CPF $$$ when she's in her 30s ...

[Irene]

l'm turning 55 next month. I can get about $200k after setting aside the minimum sum. But if i dun wanna take the money, coz 1)I dun need it 2)2.5% is good, can i choose to leave it in the acct?

[Cheekg98]

i dont think so, but i think u can invest into some life insurance funds ba ....

[Dumb]

Then ignore the letter telling you how much you can withdraw with an application attached. For CPF investment account, you must specifically inform them not to close. Otherwise it will be automatic.

Edited June 20, 2008 by Dumb

[Tarzan666]

funni..last time house so cheap...contribution 50%..now so fxxkin exp...

[Watwheels]

That's when they realised their mistake mah.

 

Why give the peasants so much when we can have it for ourselves?

[Mahjong74]

http://newpaper.asia1.com.sg/columnists/st...,166429,00.html?

 

http://www.askdrmoney.com/

[Nhyone]

l'm turning 55 next month. I can get about $200k after setting aside the minimum sum. But if i dun wanna take the money, coz 1)I dun need it 2)2.5% is good, can i choose to leave it in the acct?

If you don't take out, you better check if you are allowed to take it out in one lump sum later. Or just by "monthly installment".

 

I prefer the CPF contribution rate to be around 10%.

[Hub_n_mona]

Yes, you can.

 

If you need to withdraw, you can get a form for that. However, it takes 3-5 days to process your application when you do need to withdraw. That is, if they haven't changed policy when my mother asked them last year.

 

I feel that if you can't get rates higher than 2.5%, then no point taking the $$ out.

[Irene]

I would really wanna take out the money than leave it in someone else's pocket. But bank rates cant match CPF's... For my age, investments are suicidal.

[Pentium]

If you are interested, I can reccommend to you an annuity with guaranteed 50% returns with additional % if market is up, in 10 years. Giving you a stream of income that can only go up, and never go down. It is very popular annuity in canada.

 

Eg if you put in 200k at age 55. You are guaranteed of $300k or more at age 65.

[Irene]

Hey thank thanks thanks!

 

But this 10 year thing sounds like a fix deposit. Pay lump $200k, @65 get $300k or more guaranteed.

 

So high interest and guaranteed capital and interest? Got such good lobang. PM me.

 

I dun really wanna look at annuity because i dun think i can live that long. Got some stents in me... afterall its my money and i handle it my way... Unless its the CPF money that govt forbids me to take at all.. then different thing.

[Dumb]

If you are interested, I can reccommend to you an annuity with guaranteed 50% returns with additional % if market is up, in 10 years. Giving you a stream of income that can only go up, and never go down. It is very popular annuity in canada.

 

Eg if you put in 200k at age 55. You are guaranteed of $300k or more at age 65.

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Even if guaranteed is true, 50% is less than 4.5% pa return. Since it's canadian, exchange risk is involved. Anyway can post more details for others to digest and comment?

[Nkps]

l'm turning 55 next month. I can get about $200k after setting aside the minimum sum. But if i dun wanna take the money, coz 1)I dun need it 2)2.5% is good, can i choose to leave it in the acct?

u so old liao meh???