Well written counter comment on Annuity. SG

[Raining]

I am not an expert but

 

IMHO, One of the problem of insufficient CPF funds is that it is used to pay HDB. At that time, it is done because it can help the poor acquire a roof easily.

However, we are a victim of our own success. As we prosper, property price shoot up.

 

People buy HDB on very long loan 30 years. By the time they finish paying, not much CPF left

 

You will probably paid 2x the amount of the flat value when u are done.

e.g hdb 200K, total paid with interest = 400K.

If CPF money can't be used to buy hdb, you would have at least 400K when you retire.

 

400K = $1666/month for next 20 years.

 

If we are to use cash to pay for HDB, then people will not anyhow buy property beyond their means. Property price may not rise so drastically because no one in the right mind will part with majority of their disposable income to pay for a hdb. Compare this to paying for it with cpf money u cannot see until u retire.

Simple check: say you earn 4.5k a month, and paying your home at $900/month using CPF money. will you be willing to pay $900 in cash? most will say no = no crazy property price.

 

But even if you did spend a lot of disposable income in your payment, when you retire, You would have at least 30 years of CPF contribution to see you through your retirement.

 

With this trend, i rather sink let the loan drag long long. I use to pay up everything... Bikes/cars/phones/hifi always pay fullcash. Was planning to get a small flat , as high monthly installments that can afford and get it over without incuring the ridiculas interest rates.

 

Now since we "cant" take out our savings and still have annuity, might as well get a slightly bigger flat and sink all the possible cpf in ; We wont be getting it anyway .

 

Want savings for old age ?

Brush up one's financial skills on investment or see ur nearest bank ; at least u can get ur $ out

[Xefera]

well there is another way to safeguard ur CPF money. that is to downgrade to a smaller flat once the annuity has been drawn up. that way, u will still have sufficient funds on hand

[Gadgeter]

so the you is who?

dragon in the sea.

[Singaporesiao]

 

let's not forget that the 'home ground' only won marginally.. which isn't a lot. Judging from the current situation, wun be surprise if the 'trend' continue...

 

Must one taste the feeling of losing before one wake up? it will be a painful lesson.

66.6 is good enuf already...

[Kingcopa]

Not realli lah. Another forum there is this thread urging ppl to wear black and gather at centre point as a portest to the proposed CPF annunity. True or not i dun know lah, just play safe, dun wear balck. U know how efficient our MATAs is lor.

[Gadgeter]

maybe next round -66.6?

[Perrier]

Why so scared? Nothing wrong with wearing black on that day at that place.

 

Our Mata is used to catch thieves, drug lords, illegal hookers, loan sharks.

 

What you are implying about our MATA is very obvious, is that some kinda propaganda?

 

I look forward to the day when no one even dares to post anything about them on the net coz someone heard someone's monitoring somebody and they are very efficient. Then we can maybe hide in one car during our meet-up and voice out our displeasure. Then again, there may be undercovers....

[Perrier]

Anyway, do you know Sammyboy was previously blocked due to "some" related reasons.

 

As long as you are writing on a local forum, you can be traced coz no one will stand in the way to protect your IP. However, sites like Delphi forum will not give a hoot about the authority in the little red dot.

 

My advice is dun overdo it in forums like MCF or any local based forum. Our big brother is watching even as I am writing this. Take heed and be warned.

 

Just because they relax a little bit doesn't mean that you can just have a go at them. Please be careful what you write on the internet.

[Acemundo]

that time there was a newspapers article about a group of Mr Brown supporter being investigated for wearing brown tops and gathering at City Hall MRT station. maybe this time no issue as no one in Singapore known as Mr Black

[Freestylers09]

tat time they got take some written boards or wat rite?if this saturday all liverpool fans wear their black jerseys stand there...i wonder what can they or will they do...

Edited September 5, 2007 by Freestylers09

[Acemundo]

hehe....nah, i don't remember there were brochures....maybe pamphlets..

 

haha for liverpool is ok to them la....no anything anti MIW, garment can liao

[Kingcopa]

Well ur intentiong (wearing black) might be not politically related but what if other deem it another way how? They will come up to u and enage in an argument which might lead to situation which our police would like to avoid........

[Trex101]

Well ur intentiong (wearing black) might be not politically related but what if other deem it another way how? They will come up to u and enage in an argument which might lead to situation which our police would like to avoid

 

See, this is what our gov wants to installed. The element of fear that we will kenna marked or jail if we ever show any sign of discontent.

 

Is this the kind of country you and your children want to live in? If scare this scare that, black T-Shirt also dare not wear, why KPKB here? If you don't even want to fight for your own rights, who will?

[Shorty]

ok ..i hadn't read all de pages...but got a qn...is it legally right for an employer not to pay cpf for their employees?...can we like ask our employer not to contribute to our cpf..but instead give it to us in cash?...den mayb we can jus put in some money to cover our housing loan...n de rest we save it some place where we can withdraw as n when we like.cos judging by de way things r going...by de time i retire...i tink de min sum will be like $200k...n can only withdraw when i reach 90yrs old.

[Trex101]

Faster way is get yourself a insurance(migration/PR - any country you like), then when the times come when all hope is lost in Sinkapore, can just pack and go. Give up citizenship and get all the CPF out.

[Shorty]

oh...if we migrate n give up citizenship we can get all back ar?...i didn't noe dat...hmmm......something to tink abt...

[Kingcopa]

Correct me if i am wrong.

 

I think it is illegal for employer not to pay employee CPF.

[Epr0mlse]

It's a must/law for employers to pay CPF