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Joseph22

Joseph22

Turbocharged
(edited)

Above all the kpkb-ing, demands and accusations, the one question that some people are asking which rings loudest for me is this:

 

What's wrong with more accountability and transparency?

U go look back, tiger wood already say why he don't support transparency of sovern wealth lia. Edited by Joseph22
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Goldbug

Goldbug

6th Gear

U say 2013 Leh also not correct.

 

BTW, U do know cpf life is lifelong draw down while mini sum only draw down 20 years right??

 

you do know that CPF Life has no fixed payout and can be zero if CPF Life is insolvent

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Jman888

Jman888

Moderator

Also, I read some online suggestions and found this proposal very reasonable for Unker like me to accept :

 

"Our government should overhaul the Central Provident Fund (CPF) replacing it with a proposed Life Provident Fund (LPF) Act.

All employments, regardless of full-time or part-time, must be involved.

Contributions are compulsory like CPF, with employers and employees making a determined percentage.

Contributions from employees will be placed under the Ordinary Account (OA) and this money can be used for housing, education, investment, parent top ups and others ( to be determine).

At 55 years old, all monies in the OA can be withdrawn totally.

Contributions from employers will be placed in two-accounts viz. Pension Account (PA) and Medisave Account (MA). The monies in the PA will be invested in a dynamic and growing Annuity policy once contributions commence. It can only be withdrawn in monthly sum from 55 years old onwards.
MA can function similarly with periodic refinement to improve medical care.

 

what happen if:

 

At 55 years old, all monies in the OA can be withdrawn totally.

1. at 55 year old and still have outstanding hdb loan for amount more than OA.

 

Contributions from employers will be placed in two-accounts viz. Pension Account (PA) and Medisave Account (MA). The monies in the PA will be invested in a dynamic and growing Annuity policy once contributions commence. It can only be withdrawn in monthly sum from 55 years old onwards.

2. Got guarantee return on these annuity policies? what if the contribution amount to PA say $200, how much should he get from 55 onward? how long would you think that amount can last if start withdrawing from 55?

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Myxilplix

Myxilplix

Turbocharged
(edited)

U go look back, tiger wood already say why he don't support transparency of sovern wealth lia.

 

But. GIC spokesman already said GIC doesn't handle CPF monies [grin]

 

Or was that temasek?

Edited by Myxilplix
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Joseph22

Joseph22

Turbocharged

 

you do know that CPF Life has no fixed payout and can be zero if CPF Life is insolvent

U do know that for cpf life to be insolvent.. Our country will have to be in deep trouble?? This will also mean ur cpf become zero also???

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Tigerwoods

Tigerwoods

Turbocharged

 

what happen if:

 

At 55 years old, all monies in the OA can be withdrawn totally.

1. at 55 year old and still have outstanding hdb loan for amount more than OA.

 

Contributions from employers will be placed in two-accounts viz. Pension Account (PA) and Medisave Account (MA). The monies in the PA will be invested in a dynamic and growing Annuity policy once contributions commence. It can only be withdrawn in monthly sum from 55 years old onwards.

2. Got guarantee return on these annuity policies? what if the contribution amount to PA say $200, how much should he get from 55 onward? how long would you think that amount can last if start withdrawing from 55?

dunno leh I already put disclaimer clearly : me Bo Tak Chek one... This one sounded quote easy to digest so I sappork loh.

You must ask the CPF experts to give you every angle to WHAT IFs...

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Joseph22

Joseph22

Turbocharged

 

But. GIC spokesman already said GIC doesn't handle CPF monies [grin]

 

Or was that temasek?

Cpf buy bonds. Not invested in GIC and th directly. So he is not wrong, at least legally.

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Tianmo

Tianmo

Hypersonic

I confirm chop this method will clear all the discrepancy. Chop on hand to receive a Goodie Bag is Best...

 

Goodie Bag i scare lah.............take liao must give back more one............mai lah mai lah............

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Goldbug

Goldbug

6th Gear

U do know that for cpf life to be insolvent.. Our country will have to be in deep trouble?? This will also mean ur cpf become zero also???

 

US almost default on treasury bonds due to debt ceiling

anything is possible...

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Tigerwoods

Tigerwoods

Turbocharged

U go look back, tiger wood already say why he don't support transparency of sovern wealth lia.

I did not say I don't support transparency.

 

I say our SWF cannot be an open book for all to see what they have invested because all it takes is some corporate raiders to gang up and we are like a chicken wing marinated for BBQ.

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Joseph22

Joseph22

Turbocharged
(edited)

 

US almost default on treasury bonds due to debt ceiling

anything is possible...

If cpf life is insolvent. Rest ensure cpf is insolvent together.

 

And changes is.. What's ever money u have likely cannot be use.

Edited by Joseph22
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Tigerwoods

Tigerwoods

Turbocharged

 

Goodie Bag i scare lah.............take liao must give back more one............mai lah mai lah............

Goodie bag not from Garment wor ..

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Joseph22

Joseph22

Turbocharged

I did not say I don't support transparency.

 

I say our SWF cannot be an open book for all to see what they have invested because all it takes is some corporate raiders to gang up and we are like a chicken wing marinated for BBQ.

If cannot open book.. How to be transparent??

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Tigerwoods

Tigerwoods

Turbocharged

If cannot open book.. How to be transparent??

I only want to look at the Bottom line, spare me the details as I want my country's SWF be Richerer, Smarterer, Speedierer to earn big big

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Tianmo

Tianmo

Hypersonic

 

what happen if:

 

At 55 years old, all monies in the OA can be withdrawn totally.

1. at 55 year old and still have outstanding hdb loan for amount more than OA.

 

Contributions from employers will be placed in two-accounts viz. Pension Account (PA) and Medisave Account (MA). The monies in the PA will be invested in a dynamic and growing Annuity policy once contributions commence. It can only be withdrawn in monthly sum from 55 years old onwards.

2. Got guarantee return on these annuity policies? what if the contribution amount to PA say $200, how much should he get from 55 onward? how long would you think that amount can last if start withdrawing from 55?

 

i think concept is good.................of course details will need alot of other factors to decide........

 

At 55 years old, all monies in the OA can be withdrawn totally.

1. at 55 year old and still have outstanding hdb loan for amount more than OA.

if zero inside means zero inside lor...............no money draw simi??........ [laugh]

 

Contributions from employers will be placed in two-accounts viz. Pension Account (PA) and Medisave Account (MA). The monies in the PA will be invested in a dynamic and growing Annuity policy once contributions commence. It can only be withdrawn in monthly sum from 55 years old onwards.

2. Got guarantee return on these annuity policies? what if the contribution amount to PA say $200, how much should he get from 55 onward? how long would you think that amount can last if start withdrawing from 55?

guarantee or not will depend if the gov wants to open up to the ppl or not lor.........if no guarantee means we need to know how the money is invested..............if guarantee different story...........how long the amount can last will depend on many other factors liao.......

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Joseph22

Joseph22

Turbocharged

I only want to look at the Bottom line, spare me the details as I want my country's SWF be Richerer, Smarterer, Speedierer to earn big big

Err.. If no open book how to see if bottom line make sense???

 

Or u mean u want to see their salary?[sly]

 

That I also want to see

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Tianmo

Tianmo

Hypersonic

Goodie bag not from Garment wor ..

 

same lah............who ever become gov also will take back later one.............no different de..........

 

only give and no take back .....the golden goose also will die lah............ [laugh]

I only want to look at the Bottom line, spare me the details as I want my country's SWF be Richerer, Smarterer, Speedierer to earn big big

 

is open or no open................no open abit abit one............. [laugh] [laugh]

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Tigerwoods

Tigerwoods

Turbocharged

Err.. If no open book how to see if bottom line make sense???

 

Or u mean u want to see their salary?[sly]

 

That I also want to see

You normally trust garment data one leh. why your DNA suddenly change ?

 

Yes I want to see what are the Fees these people are receiving from our SWFs. this is also one of the transparency I want.

Don't like Ghost Ghost Rat Rat one.

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