LoneCatFish 3rd Gear May 8, 2014 Share May 8, 2014 (edited) Since we are Singaporean, and has no better place to go, just LL accept it lah ........ The best you can do is to find means and ways to empty your ordinary account before hitting 55 yrs old, like buying house, and try to spend your special account on those allowed bond investment, etc. Whatever the rest, donate it to the government as the "PROTECTION FEE" for our relatively safe living environment that we are enjoying loh ..... Look at those Ang Mo countries, their income tax is like 40%, either suck early upfront, or keep in your CPF account to let you "can see cannot eat" for many years, then suck you one time dry when you are 55, same same lah ....... Edited May 8, 2014 by LoneCatFish ↡ Advertisement Link to post Share on other sites More sharing options...
Zyklon 5th Gear May 8, 2014 Share May 8, 2014 Since we are Singaporean, and has no better place to go, just LL accept it lah ........ The best you can do is to find means and ways to empty your ordinary account before hitting 55 yrs old, like buying house, and try to spend your special account on those allowed bond investment, etc. Whatever the rest, donate it to the government as the "PROTECTION FEE" for our relatively safe living environment that we are enjoying loh ..... Look at those Ang Mo countries, their income tax is like 40%, either suck early upfront, or keep in your CPF account to let you "can see cannot eat" for many years, then suck you one time dry when you are 55, same same lah ....... Change. Yes we can. Vote wisely. Link to post Share on other sites More sharing options...
Blackyv Turbocharged May 8, 2014 Share May 8, 2014 Ceiling?? There is no ceiling... The sky is the limit... Sky still got ends, it's more like a black hole... Link to post Share on other sites More sharing options...
Evillusion Supersonic May 8, 2014 Share May 8, 2014 are we okay if govt remove all handouts and freebies? childcare subsidy la handicap subsidy la welfare la pioneer package la healthcare subsidy la one has to give way right? Childcare- I never sent my children to one, my wife takes care of them!Handicap- Never use as i have no handicapped family members, Thank god! Welfare- Simi si welfare package? Pioneer package- Didnt qualify! Missed by a few yrs Medical subsidies- Got mei.....all i know we are paying lesser than non-sgians...and i doubt it cheap! 1 Link to post Share on other sites More sharing options...
Carnoob Supercharged May 9, 2014 Share May 9, 2014 (edited) Someone committed suicide due to financial issue hoping that his.CPF $ will help his family cashflow but nxxbxx, went into their CPF! Please verify your statement. When my mom passed away, HER CPF DOES NOT GOES INTO MY CPF... IT IS PAID OUT IN CASH. Please don't simply put an ambiguous statement in MCF. But the sad fact is the CPF is our money, we should decide how and when we use it. It is like any savings we have in a bank. When they increase the MS, it is COMPULSORY! And we can't see the money paid out until we are GONE... Edited May 9, 2014 by Carnoob 1 Link to post Share on other sites More sharing options...
Roh96 6th Gear May 9, 2014 Share May 9, 2014 Can someone tell me if this MS thing can be use for paying housing loan? Let say you reach 65 and still have outstanding housing loan, will CPF keep the MS and not allow to use for paying loan? 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic May 9, 2014 Share May 9, 2014 (edited) no ... if can what is the point to raise minimum sum and why there is minimum sum in the first place? minimum sum = the sum that is locked in cpf and give you jit pak neng pak per month to use ... drawdown till you say bye bye when you reach 55 to cash out = OA - outstanding minimum sum (if your SA does not have $155K or $74.5K with 50% pledge from property) for example, OA got $50K, SA got $50K ... you can only cash out $50K - $24.5K because your SA is short of $24.5K to meet $74.5K min sum with another $74.5K pledge from property if OA = $0 and SA < $74.5K i think the monthly contribution is going into RA and then you need to pay your housing mortgage by ca$h cannot use OA liao until you meet minimum sum ... this one not very sure Can someone tell me if this MS thing can be use for paying housing loan? Let say you reach 65 and still have outstanding housing loan, will CPF keep the MS and not allow to use for paying loan? Edited May 9, 2014 by Wt_know Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 9, 2014 Share May 9, 2014 Who ask you all kam lan go vote pap. Orbi. This is why I always say, even if vote cat or dog into government, my life will still be better off. It may not improve, but it won't deprove so badly like it is with our dear miw. But then, there is no "Cat" or "Dog" logo in the boxes that I cross leh What abt "Thor", "Spiderman" and "Lightning Man"? Link to post Share on other sites More sharing options...
Blackyv Turbocharged May 9, 2014 Share May 9, 2014 Actually, I have a question, wanted to get clarification long ago but lazy to do... Might as well ask it here... Hehe My wife is not working after we got married.. Her cpf amount is lower than ms.. and if let's say I hit my ms already, can I transfer/top up my wife's cpf from my cpf?.. Make sense to do that or only fools would do that?... Hehe Link to post Share on other sites More sharing options...
Wt_know Supersonic May 9, 2014 Share May 9, 2014 (edited) why you want to do that? if wife cpf does not meet min sum ... then "so be it" does not meet min sum is not an offense ... there is no penalty the more $$ you put into cpf means the more $$ you cannot use let your own cpf grow and exceed min sum so that you can cash out unless you are talking about cash top-up to enjoy tax relief. but one must be 101% confidence in cpf ... aka changing rules again and again Actually, I have a question, wanted to get clarification long ago but lazy to do... Might as well ask it here... HeheMy wife is not working after we got married.. Her cpf amount is lower than ms.. and if let's say I hit my ms already, can I transfer/top up my wife's cpf from my cpf?.. Make sense to do that or only fools would do that?... Hehe Edited May 9, 2014 by Wt_know 2 Link to post Share on other sites More sharing options...
Kangadrool Supersonic May 9, 2014 Share May 9, 2014 just withdraw your "excess" out as ca$h, and share the joy with your wife. Why transfer into her CPF a/c and cannot use at all? Actually, I have a question, wanted to get clarification long ago but lazy to do... Might as well ask it here... HeheMy wife is not working after we got married.. Her cpf amount is lower than ms.. and if let's say I hit my ms already, can I transfer/top up my wife's cpf from my cpf?.. Make sense to do that or only fools would do that?... Hehe 2 Link to post Share on other sites More sharing options...
Jman888 Moderator May 9, 2014 Share May 9, 2014 hmm... you know you got problem saving for your future.. you rather not work on it but let some one "do it" for you.. while everyone here is trying to tell you that "someone" is not much different from a con man that is going to run road with your money.. besides, there are many other ways to forcefully save money.. and you consperm can see it end of the day.. with many other more benefits.. if employer contribution is part of the reason govt want to do the 'saving' on behalf of the people, then such forcing would be useful. If they dun have to do the saving on behalf, who knows the employers might opt out or protest against such contribution. If look at what happen to HK where they dun have cpf, the income gap is so wide that public housing only apply to 20% of the low income who has to wait for 10 years or more to get one and private housing are manipulate by the rich. Link to post Share on other sites More sharing options...
Blackyv Turbocharged May 9, 2014 Share May 9, 2014 why you want to do that? if wife cpf does not meet min sum ... then "so be it" does not meet min sum is not an offense ... there is no penalty the more $$ you put into cpf means the more $$ you cannot use let your own cpf grow and exceed min sum so that you can cash out unless you are talking about cash top-up to enjoy tax relief. but one must be 101% confidence is cpf ... aka changing rules again and again ok, got the msg.. hehehe... i was wondering also will that make sense... Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 9, 2014 Share May 9, 2014 why you want to do that? if wife cpf does not meet min sum ... then "so be it" does not meet min sum is not an offense ... there is no penalty the more $$ you put into cpf means the more $$ you cannot use let your own cpf grow and exceed min sum so that you can cash out unless you are talking about cash top-up to enjoy tax relief. but one must be 101% confidence is cpf ... aka changing rules again and again Right ! Why want to put more money into CPF scheme? Forever can't take it out lah, I mean till the retirement age. And mind you, the retirement age is always changing, and soon we can only retire officially at 67, meaning can only withdraw excess (if you still have) at this age. Got excess money, go invest in stocks or whatever. More liquidity Link to post Share on other sites More sharing options...
Blackyv Turbocharged May 9, 2014 Share May 9, 2014 just withdraw your "excess" out as ca$h, and share the joy with your wife. Why transfer into her CPF a/c and cannot use at all? yalor... that's whta im thinking also but on the other hand, was quite confused by this stupid cpf thing.. always changing rules, ... hehe... Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 9, 2014 Share May 9, 2014 A post from friend. Better understanding ? Link to post Share on other sites More sharing options...
Yrvsport 2nd Gear May 9, 2014 Share May 9, 2014 Lucky my 5 room flats finish pay at he the age of 42...now can sit back and relax...no need to worry even if it reach 250K for my next retirement age... Link to post Share on other sites More sharing options...
LoneCatFish 3rd Gear May 9, 2014 Share May 9, 2014 (edited) Change. Yes we can. Vote wisely. I voted very wisely during last GE. During the election rally house visit campaign, my dog was with me when both candidates visited me. The WP guy squatted down to praised my dog and spoke few sentences to him. The PAP guy just glanced at him, and bo chap him. Since my dog met both candidates, I decided to seek his opinion. I drew a lightning on one piece of paper, and a hammer on another piece. It was a little windy at that moment, so I put a one dollar coin on the lightning and a biscuit on the hammer as paper weight. My dog chose the hammer so I voted WP. However, PAP won Edited May 9, 2014 by LoneCatFish ↡ Advertisement 8 Link to post Share on other sites More sharing options...
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