Knoobie Supercharged May 8, 2014 Share May 8, 2014 very easy ma.. when comes to retirement age, commit crime that award you with life imprisonment. lagi better. no need pay tax and your expenses got 6.9m people pay for you. ↡ Advertisement Link to post Share on other sites More sharing options...
Ahgong Supercharged May 8, 2014 Share May 8, 2014 what to do? born in a country, first day is chai tao liow. Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 8, 2014 Share May 8, 2014 They talked and you believe them .... Someone said that Heart By-pass only cost $8/-, you believe ... Also said HDB flats 'affortable' and monthly salary of $1000/- can own one HDB flat... Haha. I never believe anything until I experience myself. Don't think $8 can go into any hospital, they probably let you die outside Don't think $1k can own flat, if can, there won't be so many ppl still renting from HDB. Link to post Share on other sites More sharing options...
Knoobie Supercharged May 8, 2014 Share May 8, 2014 They kept talking abt combating inflation, that's why setting the min sum in CPF. But, they never talk abt my salary need to increase to combat inflation too! They never talk abt having min salary for the poor to combat inflation too. Very irony leh. Just finding an excuse to lock up our money, and yet not looking at the problem of our income disparity. Our income never catch up with inflation, but the min sum can catch up ... Wah seh ! they got work on increment la.. just that they are using their own salary to do pilot test.. but unfortunately, due to rapid changes of the market.. they still cannot conclude the pilot test.. 2 Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged May 8, 2014 Share May 8, 2014 very easy ma.. when comes to retirement age, commit crime that award you with life imprisonment. lagi better. no need pay tax and your expenses got 6.9m people pay for you. then you better don't drop soap in the Changi Prisort Bathroom... Link to post Share on other sites More sharing options...
Babyt 4th Gear May 8, 2014 Share May 8, 2014 the rich will not feel the pinch. the poor just gets poorer w the money locked in. Link to post Share on other sites More sharing options...
Maroon5 5th Gear May 8, 2014 Share May 8, 2014 increasing minimum sum - its time pple wake up n realise the failure of the cpf system. minimum sum keep increasing - altho unverified theories say it is to cover a hole (simi hole ah??) - but it simply means the cpf has not kept up its performance in the new climate. inflation is 4-5% pa while they maintain 2.5% OA interest. just go calculate the shortfall 20yrs later. in short, the fund manager doesnt perform so tell u to top up. 1 Link to post Share on other sites More sharing options...
Vid Hypersonic May 8, 2014 Share May 8, 2014 Who was the "genius" who came up with this MS thing? Damn shrewd. Very smart. [:|] Link to post Share on other sites More sharing options...
Babyt 4th Gear May 8, 2014 Share May 8, 2014 I dunno but to non-savvy ppl like me...I think its a legalised Ponzi scheme. Link to post Share on other sites More sharing options...
Ngck 3rd Gear May 8, 2014 Share May 8, 2014 Good info! 2 questions 1)If there is a deflation, will the MS be lower? 2)If my cpf amt can hit the MS when i am 55, can i still use my paidup HDB to pledge half of MS? Meaning to say i will withdraw more cash from cpf. Good question! Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 8, 2014 Share May 8, 2014 We just have to LPPL, just have to accept this thing, that forced us down the throat. To me, now I am 麻木 le, cos every year July ganna stabbed and stabbed No one from them will come out to explain the rationale of this hike. Si bei sian ! Link to post Share on other sites More sharing options...
Mustank Hypersonic May 8, 2014 Share May 8, 2014 I wish they increase my employer cpf contribution 1 Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged May 8, 2014 Share May 8, 2014 (edited) Who was the "genius" who came up with this MS thing? Damn shrewd. Very smart. [:|] sometimes such policies are made to a cover-up of a major screw-up that can't be fixed Edited May 8, 2014 by Tigerwoods 1 Link to post Share on other sites More sharing options...
Rncw 5th Gear May 8, 2014 Share May 8, 2014 i just wanna ask...how many old folks in singapore actually depleted their entire CPF (OA, SA, MS) just before they passes on?????? Link to post Share on other sites More sharing options...
Arenz 2nd Gear May 8, 2014 Share May 8, 2014 1) Deflation occur when inflation fall below zero. After 2015, MS will increase according to inflation. This question maybe you can call CPF board and ask. Sorry i not very sure. My personal view is that chances not high for MS to be lower hahaha.... 2) No, you cant. When age 55, CPF will open a RA (retirement account), they will transfer the MS to RA and the you can withdraw the balance of what you have left after deduct MS. Cheers! Please check again. I think you can use own property (paid with CPF) to pledge 50% of MS, and withdraw more money at 55, if you have excess monies in OA+SA after deducting the remaining 50% of MS. However, with 50% of MS or around $75K set aside for CPF Life annuity scheme, it is projected that you will have an annuity of $620 per month from Draw-down age of 65 until you pass on. If this is not enough, you should look at other income streams, eg. rental income, dividends, private annuities, children's contributions, etc :) Link to post Share on other sites More sharing options...
Bencts 2nd Gear May 8, 2014 Share May 8, 2014 more good news!!!! medisave minimum sum will also up $3k. Sui Sui total $10k. Huat ah!!!! http://www.channelnewsasia.com/news/singapore/cpf-minimum-sum-to-be/1098746.html Link to post Share on other sites More sharing options...
Wt_know Supersonic May 8, 2014 Share May 8, 2014 ceiling is going higher and higher ... where is the ceiling? Link to post Share on other sites More sharing options...
Astrid 4th Gear May 8, 2014 Share May 8, 2014 Please check again. I think you can use own property (paid with CPF) to pledge 50% of MS, and withdraw more money at 55, if you have excess monies in OA+SA after deducting the remaining 50% of MS. Oh issit? I din know that! So if MS is now $155K, we can pledge $77.5K from CPF used in own property? Liddat, the true MS now is only $77.5K lah! Wah, it means I can draw out more cash when I reach 55 (than what I had forecasted)! Now ... let's re-plan what to do with the extra cash ... Hehe Each year, min sum increased by average of $10k. How many of you has a $10k increment in salary every year ? Bcuz if you don't, you'll never catch up. Wah heng ah! I got more than $10K/yr increment for the last 2 years! Lucky man. But maybe won't be so lucky over next few years, with economic slowdown :-( ↡ Advertisement Link to post Share on other sites More sharing options...
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