Angcheek Hypersonic May 25, 2019 Share May 25, 2019 Unker got check mail see if got recieved PG card ðð govt just send out...... soli soli Merdeka Gen ððAge 50 get what card ? ↡ Advertisement 4 Link to post Share on other sites More sharing options...
BanCoe Hypersonic May 25, 2019 Share May 25, 2019 Age 50 get what card ? ðCOE Kad ...... Akan Datang 1 Link to post Share on other sites More sharing options...
Evillusion Supersonic May 25, 2019 Share May 25, 2019 Unker got check mail see if got recieved PG card 1 Link to post Share on other sites More sharing options...
Hoseyboh Twincharged May 25, 2019 Share May 25, 2019 Unker got check mail see if got recieved PG card 3 Link to post Share on other sites More sharing options...
Ct3833 Supersonic May 25, 2019 Share May 25, 2019 (edited) To pay no tax on srs withdrawal. Only can 200k over ten years no? And its zero interest inside. So unless annuity. Have to make sure the amount u withdrawing is in bonds. Though there's a35 on sgx. I put for like two or three years but I think this tax avoidance is too difficult to predict. I'd rather not take the tax savings now. The tax saving from SRS for certain income bracket is quite significant, those people will likely to take part in SRS. And during withdrawal, if I am correct, only max 50% will be subject to tax , and dont forget, the tax after retirement will be a lot lower than the tax one will have to pay now because of his current income. Edited May 25, 2019 by Ct3833 2 Link to post Share on other sites More sharing options...
Lala81 Hypersonic May 25, 2019 Share May 25, 2019 (edited) The tax saving from SRS for certain income bracket is quite significant, those people will likely to take part in SRS. And during withdrawal, if I am correct, only max 50% will be subject to tax , and dont forget, the tax after retirement will be a lot lower than the tax one will have to pay now because of his current income. Assumption income tax regime is still the same. Singaporean govt budget increasing every year from ageing population. For me its another 24 years away. have to calculate if the SRS alone can bring u down to the lower bracket (other relief factored in) Edited May 25, 2019 by Lala81 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic May 25, 2019 Share May 25, 2019 Assumption income tax regime is still the same. Singaporean govt budget increasing every year from ageing population. For me its another 24 years away. have to calculate if the SRS alone can bring u down to the lower bracket (other relief factored in) You 38 yrs old ah? Link to post Share on other sites More sharing options...
Ct3833 Supersonic May 25, 2019 Share May 25, 2019 (edited) Assumption income tax regime is still the same. Singaporean govt budget increasing every year from ageing population. For me its another 24 years away. have to calculate if the SRS alone can bring u down to the lower bracket (other relief factored in) Younger age is your asset and advantage. If a person has a taxable income of above 320k , his SRS saving would be 22% of 15.3k, that is about $3.36k of tax saving alone. And even if he does nothing to his SRS money, he would have saved 22%, imagine how long one would be able to earn back 22% from say FD or bonds ? Better still if he parks his yearly SRS into some proven unit trusts, he would likely to make further gain. To this group of people $15.3k is a no brainer decision. Edited May 25, 2019 by Ct3833 Link to post Share on other sites More sharing options...
Ct3833 Supersonic May 25, 2019 Share May 25, 2019 Talking about retiring at 60, a couple of my friends were forced to retired before 60, after which a few of them could not get back to the industry, they ended up no choice but to retire. A few managed to find a job after a long while but only get about 1/3 of what they have been getting. Fortunately money is not a concerns to these folks , they just need a job to spend their time, stay connected with the society. Link to post Share on other sites More sharing options...
Jman888 Moderator May 25, 2019 Share May 25, 2019 Talking about retiring at 60, a couple of my friends were forced to retired before 60, after which a few of them could not get back to the industry, they ended up no choice but to retire. A few managed to find a job after a long while but only get about 1/3 of what they have been getting. Fortunately money is not a concerns to these folks , they just need a job to spend their time, stay connected with the society.every day surf mcf also stay connected with the society and all walk of life 4 Link to post Share on other sites More sharing options...
Privacy 5th Gear May 26, 2019 Share May 26, 2019 Younger age is your asset and advantage. If a person has a taxable income of above 320k , his SRS saving would be 22% of 15.3k, that is about $3.36k of tax saving alone. And even if he does nothing to his SRS money, he would have saved 22%, imagine how long one would be able to earn back 22% from say FD or bonds ? Better still if he parks his yearly SRS into some proven unit trusts, he would likely to make further gain. To this group of people $15.3k is a no brainer decision. cannot calculate like that.but yes 21 22% is alot to me so i credit srs every yr 1 Link to post Share on other sites More sharing options...
Ct3833 Supersonic May 26, 2019 Share May 26, 2019 (edited) cannot calculate like that. but yes 21 22% is alot to me so i credit srs every yr Highest income bracket spotted. Haha. But that is how I calculate, share your thoughts please, every single cents of saving counts, especially money that is giving to the government. Edited May 26, 2019 by Ct3833 Link to post Share on other sites More sharing options...
AlfaLove 1st Gear May 26, 2019 Share May 26, 2019 Talking about retiring at 60, a couple of my friends were forced to retired before 60, after which a few of them could not get back to the industry, they ended up no choice but to retire. A few managed to find a job after a long while but only get about 1/3 of what they have been getting. ... Can I ask about "forced to retire before 60"? They got retrenched because company closed, or restructured so job role redundant, or new role but unable/unwilling to retrain? And for those at 1/3 last drawn pay, why remain in same industry when they don't have skills that are currently in high demand? Where is their self-respect? Link to post Share on other sites More sharing options...
BanCoe Hypersonic May 26, 2019 Share May 26, 2019 Jung boh! Hoseyliao...Bro this one you post , example Pizza Hut after 1.30pm if got makan with chewren n friends below 55 oso discount applies to all on table ?? 1 Link to post Share on other sites More sharing options...
Angcheek Hypersonic May 26, 2019 Share May 26, 2019 Bro this one you post , example Pizza Hut after 1.30pm if got makan with chewren n friends below 55 oso discount applies to all on table ??U wan the restaurant to go bankrupt ah ? 2 Link to post Share on other sites More sharing options...
Ct3833 Supersonic May 26, 2019 Share May 26, 2019 (edited) Can I ask about "forced to retire before 60"? They got retrenched because company closed, or restructured so job role redundant, or new role but unable/unwilling to retrain? And for those at 1/3 last drawn pay, why remain in same industry when they don't have skills that are currently in high demand? Where is their self-respect? Obviously you are not familiar with the management culture of the American multinational listed companies. People at all lelvel will take the hit as long as you are too long in a company, they will force you out and get cheaper labor from elsewhere or outsource the job to lower cost countries. And we are not talking about company not making money but it is about not making enough to meet the greed of the top.Self respect , when the body language in a interview session, people are telling that you are too old, too expensive , it depends on whether you just want a job and move on or you want to stick to so call self respect. Edited May 26, 2019 by Ct3833 2 Link to post Share on other sites More sharing options...
Angcheek Hypersonic May 26, 2019 Share May 26, 2019 The tax saving from SRS for certain income bracket is quite significant, those people will likely to take part in SRS. And during withdrawal, if I am correct, only max 50% will be subject to tax , and dont forget, the tax after retirement will be a lot lower than the tax one will have to pay now because of his current income. I was told .. if u draw 20k or below no tax . Else at 50% tax . And u need to withdraw all ur srs in 10 yrs. U save the tax rebate but ur money stuck in there for the remaining yrs. If those money cant earn good INT then its useless . 1 Link to post Share on other sites More sharing options...
AlfaLove 1st Gear May 26, 2019 Share May 26, 2019 Obviously you are not familiar with the management culture of he American multinational listed companies. People at all lelvel will take the hit as long as you are too long in a company, they will force you out and get cheaper labor from elsewhere or outsource the job to lower cost countries. And we are not talking about company not making money but it is about not making enough to meet the greed of the top. Self respect , when the body language in a interview session, people are telling that you are too old, too expensive , it depends on whether you just want a job and move on or you want to stick to so call self respect. No need to be hostile. I was in a US company which was bought by a UK company. It would be better not to play helpless victim and blame the "greed of the top" because the CEO is also an employee drawing a monthly wage. US business system means that the more mentally able and talented are always looking for ways to better their superiors, even by going out and setting up their own rival company to compete and overcome and get IPO. I feel that is what all educated senior workers should be doing. ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Singaporean woman goes missing in Spain, family appeals for information
Singaporean woman goes missing in Spain, family appeals for information
Talking Point >>> Is your CPF enough for retirement?
Talking Point >>> Is your CPF enough for retirement?
Singaporean are unhappy and poor
Singaporean are unhappy and poor
This is why we can't have nice things
This is why we can't have nice things
3 Big Money Mistakes Singaporean In Their 30's
3 Big Money Mistakes Singaporean In Their 30's
S'poreans want to buy Newcastle United
S'poreans want to buy Newcastle United
Retirement in Malaysia - how much RM a month for living?
Retirement in Malaysia - how much RM a month for living?