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A FIRM is at the centre of a police investigation after a customer claimed to have lost $300,000 which was invested in gold bars. Bao Jing Trading is believed to be having cashflow problems, and there are fears that about 120 investors could lose up to $40 million. At least two more police reports have been made against the company, based in the Rochor Centre, The Straits Times understands. But many investors are afraid to approach the authorities for fear the firm will not give them their money back, according to one alleged victim. source: http://www.straitstimes.com/BreakingNews/S...ory_708683.html ______________________________ donated $40m to 2 truly asians..sinkie aunties very rich hor?
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Reviewing of Central Provident Fund scheme Published on Aug 22, 201 By Janice Tai The government is reviewing the Central Provident Fund (CPF) scheme as life expectancy in Singapore increases to 85 and beyond, said BG (NS) Tan Chuan-Jin, Minister of State for Manpower and National Development on Monday on the sidelines of the Ee Peng Liang Memorial Fund Forum at the National University of Singapore. At the forum, NUS alumnus Mr Ng Kok Hoe, who was awarded the Ee Peng Liang Memorial Fund Scholarship last year to pursue doctoral studies in Social Policy at the London School of Economics, presented findings from his research. He found that the number of elderly who are living with their children in Singapore is declining. He said that this finding is significant because living with their children boosted the incomes of the elderly and improved their income security. As our retirement income system is built on the fact that children will provide for their parents and grandparents, he questioned the sustainability of our current retirement income system. In his speech at the forum, BG Tan noted that Singapore is currently meeting the challenges of increasing longevity. One of the ways in which the government is tackling such challenges is encouraging family support. He said that we have schemes such as the Minimum Sum Topping-Up Scheme (MSTU), for members to voluntarily top up the CPF accounts of their family members, especially those who are not working or unable to work. ................................................................................ ................................................................... Siao liao .............. Review can only mean two things. 1. Up withdrawal age from 55 to be in line with retirement age of 62 or 2. Increase minimum sum scheme again ............. maybe set at $1M. Hip hip Hurray!!!!
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SINGAPORE: MORE off-peak car (OPC) owners are caught driving without an electronic licence during peak hours since the revised electronic licence scheme was introduced. About 150 offenders were caught in January, higher than last year's average of about 100 offenders a month. There were a total of 1199 offenders last year. A Land Transport Authority (LTA) spokesperson said enforcement efforts have been intensified against errant OPC owners who use the OPC during restricted hours without a valid licence. This comes even though OPC owners can buy the e-licence after they use their OPC, up to 11.59pm the next day after the car was used. Action has also been taken against owners who do not enter the usage date for the OPC's prepaid undated licence. As of Jan 31, about 150 offenders were caught using their OPCs during peak hours without a valid licence. OPC owners need to buy a valid e-licence before 11.59pm the next day after their OPCs were used. The revised OPC scheme has seen a steady uptake since its launch on Jan 25. More than 21,000 motorists have converted to the new scheme. Out of this number, 473 were normal cars that converted to the off-peak scheme and 666 were new cars registered under the scheme. This figure accounts for about 45 per cent of OPC users based on the current total OPC population of 47,986. Source
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i am not too clear about pension scheme because when i join the workforce pension scheme dont exist apparently according to my dad, the government did away with pension scheme and replaced with CPF then why are all ministers and mp have pension strange
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Do you support the extension of the Mandatory Give Way to Buses Scheme to more locations to speed up bus travel? http://talk2lta.lta.gov.sg/HomePage?action....Home.QuickPoll Your vote is keep in strict confidential. Just take a look what had happen at our Legend. http://www.mycarforum.com/index.php?showtopic=2657873&hl He had was being involved in a traffic accident causing unnecessary delays to others. If that there wasn't any mandatory give way to buses scheme, he would not had stopped and being hit from behind. I believe that the accident had happen in a non-peak period thus traffic delays are manageable. However if that this accident happen in a peak period in a 3 lane road. Closure of 1 lane = less 33.3% efficient + merger of lane 3 to lane 2 causes other % less efficient + safety distance, braking and acceralations delays % less efficient + people looking at Porchse of 4 digits = more delays. And also ambulance to arrive = vehicle had not planned to travel to that destination = more space for another vehicle = delay yet again. Recovery vehicles & cleaning crew = more and more delays. If that the bus have no mandatory give way to buses scheme, bus driver had graciously "give way" to others = improving overall efficent = better flow for the next bus to arrive as well. Solved the bottle neck congestions & overall logistics.
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Pardon for my ignorance but as far as I know, the first implementation of OPC scheme is to encourage people especially families to switch driving during off peak as to cut down traffic flow during peak hours at the same time giving a opportunity for people to own a personal transport since the cost of owning a OPC cuts down by ten++ grand as compare to normal cars. True scenerio, a neighbour of mine whose hubby drives a Hyundai sonota due to work factors needs the car to run around places all the time and being a middle wealthy family , wife too got herself a ride ( Nissan March )to go for majiong sessions, settle household groceries and maybe do shopping with fellow auntie group. BTW side track a bit...I went to Tampines mall during weekdays around 3pm time thinking it will be a breeze to get a lot near esculator lobby side and was supprised that the row of lots was fully booked and while going around the area looking for second best lots, took notice of the car owners out of boredom. Most proprtion of the drivers range from aunties,housewifes and of cos the usual 1to2 lunch people. And my point is???? well use some of ur imagination ba. Anyway , back to main topic. The son just gotten his driving licence and despite the fact that his parent each own a ride , he refused to share as I heard from my mum during one of her gossip session with her friends while I was sending them to market place on my way to work that becos the son feels that the ride his parent own isnt TIONG enuff, so elderly and stuff decided to go for OPC . In the end , he or rather on sponsorship by his dad, gotten a subaru impress.. At tat point of time it had me thinking. For every middle range family who owns 2 normal plated cars , whose son or daugther decided to get another one due to the above reasons, doesnt it defeat the objective of the OPC scheme in the first place?????I bet you must have relative of friends who gets a OPC evo to chiong during weekends but drive normal sedan on weekdays????? trust me, I have plenty of friends doing that. Come on , ten grands off for OPC is too much of a temptation to some , which triggered some to own 2 cars . Well it is ultimately my own views.......hehehehehe Should the gov be restricting the OPC categlory to a certain model not inclusive of cars like GTR,EVO,WRX etc etc ....... give those ppl who reali in need of a transport instead of attracting ppl who are tempted to keep a second????? OPC scheme ???? it is definitely not working..what do U think????
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http://www.singaporelawwatch.sg/remweb/leg...;utm_medium=rss "Title: Buy-and-rent car scheme is illegal: LTA Source: Straits Times Author: Jessica Lim Legal News Archive THE Land Transport Authority (LTA) has flagged as illegal a scheme used by Fiat's sole distributor here to drum up sales. It is not only the company which has run afoul of the law, but also some 50-odd car owners who have been attracted to TTS Eurocars' buy-and-rent scheme. The LTA was responding to queries from The Straits Times which had highlighted the unusual sales tactic. The carrot to prospective buyers is that in return for making a new purchase, those burdened by existing car loans can rent out their existing cars through the firm's leasing arm to earn an income and thus pay off the loan. "
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Is this useful? I am suspicious and not thinking about it yet. any ideas what is your opinion Thanks Save more money with SRS By Lorna Tan, Senior Correspondent It's a pain to pay taxes, and taxpayers who want to enjoy some savings next year can consider contributing to the Supplementary Retirement Scheme (SRS). But they must do so by Dec 31. Set up in 2001, the little-known scheme is meant to complement Central Provident Fund savings. It gives wage earners an incentive to save for retirement as well as enjoy tax relief. SRS is administered by the Ministry of Finance and is a voluntary scheme where participants contribute varying amounts of cash. Annual contributions are capped at $11,475 for Singaporeans and permanent residents and $26,775 for foreigners. The money may be used to buy investment instruments like shares and unit trusts, or can be deposited with banks where it earns prevailing savings or fixed deposit rates. Mr Lim Wyson, OCBC Bank's head of wealth management Singapore, said that since the scheme's inception, the number of SRS account holders has jumped from 11,890 in its first year to 46,442 in December last year. SRS funds have also grown from $157 million to $1.72 billion over the same period. The scheme is not without its detractors, who want a higher contribution cap and for the early withdrawal penalty to be waived. The latter is an often-cited drawback of the SRS. A 5 per cent penalty fee is imposed if a withdrawal is made before the statutory retirement age. Another beef they have with the scheme is that if you withdraw the sum before retirement age, 100 per cent of it will be considered taxable income and taxed accordingly. This includes whatever capital gains you could have made from your investments using your SRS funds. However, you get a 50 per cent tax concession when you withdraw your SRS funds after the statutory retirement age. Financial experts like Ms Yashodhara Mishra, ipac financial planning's head of private client services, advises SRS participants to plan carefully before putting money into the scheme. An advocate of SRS, she routinely recommends it to her clients. 'SRS can be a useful tool in one's financial plan but it should be used in conjunction with other sources of income in your golden age,' she said. Financial advisers say you should participate in SRS only if you do not need the cash till you retire. You should also avoid withdrawing all your SRS funds in a lump sum after your statutory retirement age so that you do not attract too much tax. SRS has a 10-year withdrawal period. If retirees, who have lower or nominal income, stagger their SRS withdrawals, they may end up having to pay little or no tax.
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How does it work? Today i was driving along cck. The bus hasnt signalled when i was like 20m away from the giveway line. Reached the giveway line, the bus signalled right and turned right simultaneously. Obviously had no time to stop. Even the truck behind me also followed. So where do the white ants stand? I didnt see any if i recall..
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Pre-empted by the Internet September 01, 2009 Tuesday, 04:16 PM Christopher Tan discusses the frayed nerves surrounding a recent news leak. NEWS of the enhanced off-peak car (OPC) scheme is probably talk of the motoring town now. But an unfortunate incident leading up to the announcement of the new and improved scheme
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I have been watching a lot of The Practice, and I am wondering, what is the chance of sueing the gahment for holding on to our CPF money under the Minimum Sum Scheme ? Is the constitution untouchable ? By definition, what is yours, should be yours to keep. So is there any grounds to sue and win, or no way ?
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Mandatory Give Way to Buses Scheme Extended to Four Bus Bays 1. From 27 June 2009, the LTA will introduce the Mandatory Give Way to Buses Scheme to four bus bays in the Choa Chu Kang area. 2. These bus bays are located along Choa Chu Kang Road (opposite the Phoenix LRT Station and Blk 26) and along Choa Chu Kang Drive (opposite Blk 209). They are the first bus bays to be added to since the scheme was piloted in December of last year at 22 bus bays along Bukit Batok East Avenue 3, Toh Tuck Road and Ang Mo Kio Avenue 8. 3. LTA's ongoing review of bus bays island-wide will identify more locations that are well suited to this scheme. As this scheme extends, more bus commuters can benefit from the faster travel time. 4. Prior to implementation, banners will be put up along Chua Chu Kang Drive and Chua Chu Kang Road to remind motorists they need to give way to buses exiting bus bays. Result of Pilot 5. Results from the pilot showed that the scheme is effective in reducing the amount of time buses spend trying to get out of bus bays. This in turn has improved overall bus speeds. Buses are now able to exit the bus bays faster with a time reduction of up to 73% in some cases. Bus journey times have also improved by up to 7%. 6. The Mandatory Give Way to Buses Scheme is one of a series of measures LTA is implementing to improve the speed and reliability of bus services under the Land Transport Master Plan announced in 2008. In December 2008, LTA completed the expansion of the bus lane scheme, increasing the coverage of full day bus lanes from 7.6km to 23km and normal bus lanes from 120km to 155km. 7. Please refer to Annex A for the locations of the new bus bays. -
News Release National Environment Agency's Labelling Schemes On Fuel Efficiency To Start In April 09 Mandatory Fuel Economy Labeling Scheme Also from 1 April 2009, buyers of new passenger cars and light goods vehicles will be able to know how fuel efficient their vehicles are when the Mandatory Fuel Economy Labelling Scheme (FELS) comes into effect. Under the scheme, new passenger cars and light goods vehicles must carry a label indicating the amount of fuel needed by the vehicle to run 100 kilometres. With this information, car buyers can compare the fuel consumption of vehicles of similar engine capacity.
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I've been searching high-n-low for info on how to opt-out the LIFE annuity scheme.. I managed to find an FAQ on it but very surprising there's no FAQ on how to opt-out.. Not to sure the following url still works: http://mycpf.cpf.gov.sg/NR/rdonlyres/F5405...CPFLIFE_FAQ.pdf Searching thru the entire CPF website, I can't find any bl**dy info on how to opt-out the scheme.. Imagine a scheme that automatically sucks money from us unless we state otherwise.. Yet, there's no easy-to-find info on how to opt-out. We have such a smart gahmen good in making bad investments and digging out extra billions anytime they want. Bro/sis, has anyone already opt-out ?? Appreciate your enlightenment on how to proactively opt-out before I turn 50+
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Hi, I am just confused about the Jobs Credit Scheme... When I read the budget report, it mentioned/started with "To sustain jobs for Singaporeans, we will introduce a Jobs Credit which will encourage ......." But, I am also been told that it is applied to PR as wells... Confused! Tanlee.
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Off-peak car scheme needs fine-tuning Wed, Dec 10, 2008 The Straits Times MANY things have changed since the introduction of the off-peak car scheme in 1994. These have made it necessary and important to fine-tune the system to cater to today's real needs. For a start, the Land Transport Authority (LTA) should consider lifting the restricted hours on off-peak cars on Saturdays from 7am to 3pm. With an increasing number of companies practising a five-day work week, the restricted hours on Saturdays have essentially become less 'peak' than 14 years ago. For those who drive an off-peak car, removing such restrictions could also mean more family time on a non-working day. This would tie in well with the Government's call for more pro-family efforts by Singaporeans. In addition, the LTA should consider allowing off-peak cars on the road in non-Central Business District, 'off-peak' areas, such as the neighbourhoods, during 'peak' weekday hours. In my view, this will not severely affect smooth traffic flow neither in the neighbourhoods nor on the arterial roads during these hours, when most people are at work. Also, this will give drivers of off-peak cars more freedom to run personal or family errands, as well as spend quality time with their families on days they are not working. Goh Wee Chuan
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From STI: ERP payment with credit card >Forgot to insert your CashCard into the IU (in-vehicle units)? Didn't top your CashCard before passing through the gantry? Fret not - from Nov 5, motorists will have an alternative mode of payment for ERP charges via their credit cards. Drivers who subscribe to a new credit card scheme to be able to use all Visa or MasterCard credit cards from any bank of their choice to pay their ERP charges through their monthly credit card bills. This new scheme comes at a monthly subscription fee of $2.50. Motorists who wish to enjoy the new credit card scheme must first subscribe online to the scheme via the One.motoring or MotorPay websites at http://www.onemotoring.com.sg and http://www.motorpay.com.sg respectively. Those who are successful in their application will no longer need to insert their stored-value CashCards into the IU when they drive through ERP gantries as the ERP charges incurred will be charged to their monthly Visa / MasterCard credit card bills. However, they can still choose to pay the ERP charges using their stored-value CashCards, if they wish to, by having a CashCard inserted into the IU. Such ERP transactions incurred will be excluded from the monthly credit card bills. This initiative is made possible by a partnership between LTA and DBS Bank as the payment partner for the service.
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wonder hw the experience's like, on working holiday maker scheme? was thinking of trying it in australia next jun. ha, would be good to hear from fellow mcfers who've tried, say finding agents or making cold calls for the jobs, accommodations and etc. cheers~
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List down the negative impacts of the proposed ERP scheme -- more gantries, higher charges. 1. Lesser pocket $$$, higher cost of living 2. Less work life balance, all have to wait until 8pm before going home to avoid evening ERP 3. Ugly city icon ... Fullerton Hotel + ERP grantry = mismatch 4. 5. 6. 7. 8. 9. 10.
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Some years back I opt out of the DPS scheme and recently I checked my CPF kena deduct money for DPS. what is the use of DPS if you are already covered by life insurance? thanks
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Hi all bros/sis, really need some help here.. Im with the Schroders Asian Premium Bond Fund for nearly a year now. Recently Schroders sent me a letter regarding the above mentioned. It also stated tat the fund will not be able to accept CPF monies with effect from 1st April. Problem is what it means when they say 'the fund will not be able to accept CPF monies'? Thanks for ur help.. CHEERS!!!
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as per PM Lee New Speech, no body doubts COE will be higher and higher so if your favourite come to market, you will...
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Hi have any bros heard abt the IHP loan nowadays? cos got mine with IHP scheme but not sure how it works. think something diff from the rule 78 last time. anyone familiar can advise?
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For CONSUMER AWARENESS of financial scheme in NEW/OLD cars... Can those of U that recently bought a car this year (2004), please list down how much of the initial payment & all those nitty-gritty things U gotta pay? I think this will help many forum users in purchasing a car... like me
