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More CPF savings with new rules

Ben5266

By Ben5266,
in Lite & EZ

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Solar

Solar

Turbocharged
(edited)

This is a very simple case that alas, not many people realized.

I think her bff taught her lol...

Today she said, your car also what.. Stay with the current one and stop itchy backside look at coe and new car prices....why let the dealer earn again... :-/

Edited by Solar
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Ben5266

Ben5266

Supercharged
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If STI continues to ski down to 2000...

 

With the extra saving in CPF, maybe, gov will allow us to use more fund for buying shares.

Or even utilizing the MA to buy counters with high dividend yield. Say > 5%.

 

Then can release some cash back into the market. 

 

GIC investment portfolio most likely to shrink. Where to find money to pay the interest?

 

Tough job ahead for ah heng.

[bounce1]

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Kusje

Kusje

Supersonic

you have women's payout table?

 

Sorry for the late reply.

 

In the first place, these payouts aren't even guaranteed.....

 

Secondly, I don't think they have ever given any payout table (whether for men or women) but you can play around with this calculator to see that men get paid more.

 

https://www.cpf.gov.sg/eSvc/Web/Schemes/LifePayoutEstimator/LifePayoutEstimator

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Jman888

Jman888

Moderator

Why should CPF retirement account last until age of 128?

 

Anyone receive such letter from CPF ?   :grin:

 

 

http://www.todayonline.com/voices/why-should-cpf-retirement-account-last-until-age-128

 

 

 

the uncle write letter no head no detail.

 

I think she has a lot of money left in her cpf account, more than the required amount hence can draw until 128.

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Angcheek

Angcheek

Hypersonic

because 64-->128-->256-->512-->1KB :grin:

 

......... u running X86 ? hahaha  

the uncle write letter no head no detail.

 

I think she has a lot of money left in her cpf account, more than the required amount hence can draw until 128.

 

thats possible , but doesnt make sense to stretch it 64 yrs .......... 

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Jman888

Jman888

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......... u running X86 ? hahaha

 

 

thats possible , but doesnt make sense to stretch it 64 yrs ..........

Maybe she opt for the lowest amout and the excess if not withdraw can last for 64 years (if you take $350/mth only need $250k in the accouns)
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Nzy

Nzy

Twincharged

thats possible , but doesnt make sense to stretch it 64 yrs .......... 

 

I guess that is based on what monthly income she chose to take lo. So based on what she wants to withdraw every month, that is how long it will last. If she cannot outlive it then the rest will go to her estate when she passes on. Some people prefer to leave more for family some prefer to take out more for themselves to enjoy.

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Kusje

Kusje

Supersonic

I guess that is based on what monthly income she chose to take lo. So based on what she wants to withdraw every month, that is how long it will last. If she cannot outlive it then the rest will go to her estate when she passes on. Some people prefer to leave more for family some prefer to take out more for themselves to enjoy.

 

I'm confused about all this CPF rulings.... but if she were the one who requested to draw so little every month, why would her husband be complaining?

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Kusje

Kusje

Supersonic

The best is to always rely on own's savings ... cpf will be the backup to own's savings ...

 

So CPF is a tax?

 

I thought it was supposed to be my savings  [laugh]

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Nzy

Nzy

Twincharged

I'm confused about all this CPF rulings.... but if she were the one who requested to draw so little every month, why would her husband be complaining?

 

Like Jman888 say, no head no tail. Don't know which scheme she is under. CPF life or the old minimum sum scheme. But probably CPF LIFE. Maybe she chose the CPF LIFE basic plan which means she gets lower payout but higher bequest. Those who have done their calculations will realise that this is the most "value-for-money". Total amount you take back(based on current values shown) from the plan is more than if you take the CPF LIFE standard plan which is the default. Maybe that is why she chose basic which will give lower payout per month. 

 

If she has that much to spend, she probably has other retirement plans, so might not need so much payout from CPF LIFE. People like this usually will choose the basic plan if they know it gives higher returns overall. Not surprising that her husband might not know about her plans cuz some couples don't discuss this kind of stuff. I have met many couples who do not discuss what savings plans and insurance plans they have other than those they bought together for their children.

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Jman888

Jman888

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I'm confused about all this CPF rulings.... but if she were the one who requested to draw so little every month, why would her husband be complaining?

They too rich and dun pay much attention to these small amount [laugh]
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Kusje

Kusje

Supersonic

They too rich and dun pay much attention to these small amount [laugh]

Too rich then don't waste time complaining lor.

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