2009k Neutral Newbie March 28, 2012 Share March 28, 2012 (edited) Actually what are the components added to the minimum sum....let say: You "own"= 5 room flat (8 yrs left to furnish loan) OA = $20000 SA = $44000 MA = $40000 (Ceiling) Has the CPF holder reached the minimum sum? half of min sum fig pledge by HDB flat, 20k from OA, 44k from SA for min sum computation. MA is standalone. Edited March 28, 2012 by 2009k ↡ Advertisement Link to post Share on other sites More sharing options...
Evillusion Supersonic March 28, 2012 Share March 28, 2012 half of min sum fig pledge by HDB flat, 20k from OA, 44k from SA for min sum computation. MA is standalone. ho sei liao! can tell the fella he oredy reaching minimum sum....now can become taxi driver oredy! Link to post Share on other sites More sharing options...
Relacklabrudder 1st Gear March 28, 2012 Share March 28, 2012 Actually what are the components added to the minimum sum....let say: You "own"= 5 room flat (8 yrs left to furnish loan) OA = $20000 SA = $44000 MA = $40000 (Ceiling) Has the CPF holder reached the minimum sum? minimum sum does not include MA, only OA and SA. Link to post Share on other sites More sharing options...
Evillusion Supersonic March 28, 2012 Share March 28, 2012 minimum sum does not include MA, only OA and SA. so 20k+44k=66 k Half of minimum sum is roughly 66ks (for housing pledge) 66k + 66k =132k. So fella reach minimum sum liao mah! or i count wrong Link to post Share on other sites More sharing options...
Solar Turbocharged March 28, 2012 Share March 28, 2012 paiseh.. i am not sure about this thingy.. on retirement, if a person reached his minimum sum for OA and SA, he can then withdraw any excess on top of his minimum sum? is it all amount above it, or just a bit by bit? what if he is left with only the minimum sum? retire already cannot touch it until die, with that minimum sum stay there collect spider web? Link to post Share on other sites More sharing options...
Relacklabrudder 1st Gear March 28, 2012 Share March 28, 2012 paiseh.. i am not sure about this thingy.. on retirement, if a person reached his minimum sum for OA and SA, he can then withdraw any excess on top of his minimum sum? is it all amount above it, or just a bit by bit? what if he is left with only the minimum sum? retire already cannot touch it until die, with that minimum sum stay there collect spider web? if not wrong can withdraw anything above min sum. then from min sum, our caring garhmen will give u $200-300/mth to tide u through all old age til ur grave Link to post Share on other sites More sharing options...
Solar Turbocharged March 28, 2012 Share March 28, 2012 if not wrong can withdraw anything above min sum. then from min sum, our caring garhmen will give u $200-300/mth to tide u through all old age til ur grave thanks brudder. weird that only 300/mth is allowed out of that $131k (assuming not increased further) if i'm at 65yr old, taking 300/mth, yearly would be $3600. 131k thens mean that i will empty it out by 36.4years, which means that i will be over 100yrs old! Link to post Share on other sites More sharing options...
Arenz 2nd Gear March 28, 2012 Share March 28, 2012 If you have the full minimum sum of $131K, average monthly payout should be about $1K per mth from 65 yrs old. Check out this link from CPF : http://mycpf.cpf.gov.sg/Members/Gen-Info/C...FE/CPF_LIFE.htm Link to post Share on other sites More sharing options...
2009k Neutral Newbie March 28, 2012 Share March 28, 2012 If you have the full minimum sum of $131K, average monthly payout should be about $1K per mth from 65 yrs old. Check out this link from CPF : http://mycpf.cpf.gov.sg/Members/Gen-Info/C...FE/CPF_LIFE.htm Almost there. .. but this min sum is a moving target adjusted for inflation yet the forced savings is with a 'banker' that pays less than inflation. Illusion and never ending struggle for most. .. that's why some call the cpf an indirect tax to income of near 40%... Link to post Share on other sites More sharing options...
Evillusion Supersonic March 28, 2012 Share March 28, 2012 thanks brudder. weird that only 300/mth is allowed out of that $131k (assuming not increased further) if i'm at 65yr old, taking 300/mth, yearly would be $3600. 131k thens mean that i will empty it out by 36.4years, which means that i will be over 100yrs old! 300 is for the utulities n conveyancing lar! For makan n others stuff must work at macdonalds where u can earn 3.50/hr. [thumbsup] Link to post Share on other sites More sharing options...
Relacklabrudder 1st Gear March 28, 2012 Share March 28, 2012 If you have the full minimum sum of $131K, average monthly payout should be about $1K per mth from 65 yrs old. Check out this link from CPF : http://mycpf.cpf.gov.sg/Members/Gen-Info/C...FE/CPF_LIFE.htm 1k a month is based on wat? U taking up cpf life? How much is the cost of taking up cpf life? Link to post Share on other sites More sharing options...
Arenz 2nd Gear March 29, 2012 Share March 29, 2012 Go to the CPF link, click on CPL Life Payout Estimator. Imagine you are abt to hit 55 now, the estd mthly payout of abt $1K will be calculated. From 2013, all will have to choose 1 of 2 options under CPF Life. If you have less than min sum, estd payout will be less. Go play with the Estimator :) Link to post Share on other sites More sharing options...
Mightymito 1st Gear March 29, 2012 Author Share March 29, 2012 Mcdonald $3.50 per hr? Wow you are from which generation..cannot be. Work one hour just to eat one meal.I think its at least 5-6 dollar per hr. . Link to post Share on other sites More sharing options...
Kangadrool Supersonic March 29, 2012 Share March 29, 2012 CPF is never meant for ownself. Its for your children. Actually our children will be beri rich. Our house will be thiers. CPF also goes to them. Whatever $ we leave behind also thiers. Hidden social tax. Link to post Share on other sites More sharing options...
Evillusion Supersonic March 29, 2012 Share March 29, 2012 (edited) Mcdonald $3.50 per hr? Wow you are from which generation..cannot be. Work one hour just to eat one meal.I think its at least 5-6 dollar per hr. . u ever apply bo? My students say one hor, as some of them really need the pocket money! thats why some pple were talking about introducing minimum wage law! Edited March 29, 2012 by Eviilusion Link to post Share on other sites More sharing options...
Joseph22 Turbocharged March 29, 2012 Share March 29, 2012 Mcdonald $3.50 per hr? Wow you are from which generation..cannot be. Work one hour just to eat one meal.I think its at least 5-6 dollar per hr. . not so high lah. 3.50 already very high liao. my time only 2.50 nia. Link to post Share on other sites More sharing options...
Evillusion Supersonic March 29, 2012 Share March 29, 2012 Hidden social tax. Western country with social welfare are using their children money to enjoy now while we slog it out so that our children can enjoy! Donno which is the lesser evil/good. But that if our Gov does not inroduce new law to curb our children spending Link to post Share on other sites More sharing options...
Evillusion Supersonic March 29, 2012 Share March 29, 2012 not so high lah. 3.50 already very high liao. my time only 2.50 nia. some pple very atas so does not feel the ache of those at the lower rung of the spectrum! Even the 7-11 cashier pay is about the same! ↡ Advertisement Link to post Share on other sites More sharing options...
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