Huat ah !
Actually, every year should increase by $100,000 so no one can ever touch it.
It's reserved for temasick to gamble with.
Edited by pChou, 21 January 2015 - 06:04 PM.
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Posted 08 May 2014 - 12:56 PM
Its not our $ lah,
Its ta-ma-sai (temasek) money lah
Edited by Ktglfc, 08 May 2014 - 12:56 PM.
Posted 08 May 2014 - 01:15 PM
Wondering what is the point of increasing our min sum every year or few years?
1) to force people to work longer and provide own pension fund by increasing min sum
2) GIC and TH are "losing" money big time- re-couping those loses from its people to top up
3) CFP is to squeeze people to save money as not to spend or lose their fortune on PRC gals or gambling
4)No social safety net provided by the government so the younger generation need to bear the cost for ageing society by keeping their money longer as to withheld withdrawal at 55.
5) to force people to stay "asset" rich but cash poor as to rely on the government for more sweetners or "begging" for "help" to create a dependent model
6) to design a system as to segment the middle class into working class as voters to toe the party line.
any suggestion- please input as these are OUR hard earned money our blood and sweat- not anyone else.
Posted 08 May 2014 - 01:23 PM
inflation so high?
salary got increase that high to maintain its real value over time?
salary stagnat + minimum sum increase = slap left right cheek and must say thank you
"In order to maintain its real value over time, the Minimum Sum increases to account for inflation," the CPF Board and Manpower Ministry (MOM) said in a joint statement on Thursday.
Edited by Wt_know, 08 May 2014 - 01:29 PM.
Posted 08 May 2014 - 01:32 PM
yalor ... minimum sum should one shot increased to $500,000 or $1,000,000 ... heart attack now or later no difference ... lol
Soon the increase will be increased. $7k to $10k to $12k to $16k to $20.... then ga ga lai $30k one shot so many can have instant deadly heart attack to get payout.
Posted 08 May 2014 - 01:38 PM
and how do they get $7k?
if inflation is that high ... how come salary increase is so low?
Can suka suka raise?
Who proposed and decided 7k and who approve???
Posted 08 May 2014 - 01:40 PM
It was increased at $5000/- in the past and now, jumped to $7000/- ....... :angry:
The MS was set at $80,000 in 2003 and will be raised gradually until it reaches $120,000 (in 2003 dollars) in 2015.
In 2013 MS (in 2003 dollar) was $115k. We left 5k to reach "120k" in 2015. Assuming that each year is 2.5k.
(117,500/115,000) * 148,000 * 1.025 (inflation of 2.5%)= $154,997
Round off to nearest hundred. You will get $155k min sum for 2014
(120,000/117,500) * 155,000* 1.025 (based on inflation of 2.5%) = $162,255
This is my predicted min sum of year 2015
After year 2015, Min sum will continue to increase. But it will based on inflation. Of course CPF can change their goal post again.
Based on my age, when I age 55(currently 38) and inflation of 2.5%(hope no change), my min sum will be $262,900.
Hope you guys know how the min sum mechanism work.
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