Jump to content

The best way to prepare for retirement is to use less CPF $$


Recommended Posts

Correct, should be adjust those working adult employer rate up, for those above 55, give more cash instead of making them keep more in CPF.

for once they should increase the cpf interest rates for our rf......5-6% is good. If they do this, i will surely put my money in the retirement fund and see it grow! Knn.......i will even be willing to dump my oa into rf to get that 18-20k gain per annum.

wah who is ak? is he a guru? can learn from him foc?

 

i peasant always like to learn new things one

 

 

↡ Advertisement
  • Praise 1
Link to post
Share on other sites

TCJ is kee chiu?

 

In view of the growing senior population, time to adjust to keep these people who are employed and get sufficient cpf for retirement since the retirement age extend to 67 now.

Oh yah, my mistake, he is not kee chiu. Thanks.
Link to post
Share on other sites

I read MIW gonna raise employee contribution rate from 13% to 37% for those over 55 ........ 

 

if true ... hahaha Hallelujah ... 

 

Another news , MediLife expecting U to live to 93 . So monthly pay out will be reduced and stretch till over 90 . How many of U can live over 90 ....  <_<  So are we paying for MediLife for nothing ? 

 

[:/]

  • Praise 1
Link to post
Share on other sites

for once they should increase the cpf interest rates for our rf......5-6% is good. If they do this, i will surely put my money in the retirement fund and see it grow! Knn.......i will even be willing to dump my oa into rf to get that 18-20k gain per annum.

 

 

Thats good  if you have lots of cash on hand or do not need much cash for daily expenses. 

 

but one day if u need it for emergency or medical  etc (or some relatives need to money for ops ) , 

you can take it out from CPF . 

 

With that long term placed in CPF , Frankly it is just like FD.  There is no extra benefit vs the cons. 

  • Praise 1
Link to post
Share on other sites

Thats good if you have lots of cash on hand or do not need much cash for daily expenses.

 

but one day if u need it for emergency or medical etc (or some relatives need to money for ops ) ,

you can take it out from CPF .

 

With that long term placed in CPF , Frankly it is just like FD. There is no extra benefit vs the cons.

with retirement age being pushed further most will still be working at 67.....tio bor. RF starts at 55 that means you have a decade of income still forthcoming unless tio retrench or have health issue which is already minimally covered with income shield and others offered under medisave (have not count private plans). About relatives who needs help......help when you can afford it because i am very sure they will also think likewise.
Link to post
Share on other sites

I read MIW gonna raise employee contribution rate from 13% to 37% for those over 55 ........

 

if true ... hahaha Hallelujah ...

 

Another news , MediLife expecting U to live to 93 . So monthly pay out will be reduced and stretch till over 90 . How many of U can live over 90 .... <_< So are we paying for MediLife for nothing ?

 

[:/]

There are always two sides to a coin.

 

37% employee contribution! The additional percentages coming from employer pocket?

 

From business perspectives either let those elder folk go or propose to freeze any wage increment. Take home pay reduced while money still within cpf care and we all know how hard just to make withdrawal sum from cpf board.

 

 

I agreed with evillusion that the cpf interest rate should rise and not the contribution rate, solely for the reason company can maintain it competitive edge.

 

In another word ah gong pocket.

Edited by Kopites
Link to post
Share on other sites

with retirement age being pushed further most will still be working at 67.....tio bor. RF starts at 55 that means you have a decade of income still forthcoming unless tio retrench or have health issue which is already minimally covered with income shield and others offered under medisave (have not count private plans). About relatives who needs help......help when you can afford it because i am very sure they will also think likewise.

Of course most continue to work at 55 and contribute to cpf . But if i got spare cash .. i wont dump into cpf just for that socall high% ...

U different la ... u got many many cash ubder the bed milo tin.

  • Praise 5
Link to post
Share on other sites

Of course most continue to work at 55 and contribute to cpf . But if i got spare cash .. i wont dump into cpf just for that socall high% ...

U different la ... u got many many cash ubder the bed milo tin.

Link to post
Share on other sites

you think i so rich like umno mei?ððð......need to be prudent and save up for old age....not counting rf....that wan only my kids can feel....ððð.....maybe 20 yrs time only our grandchildren will be the one to touch our savings....

U2 topo each other’s bedroom or what ni??

...... Like can even find sperm in Anwar tilam

Link to post
Share on other sites

cannot find anwar dna liao.........the tilam under wraps too long liao.....maybe need to find back door....ððð

Which reminds me of an old joke

First there was Maggie Mee

Then came Indo Mee

Then came Sodo Mee ( after the Anwar debacle)

Edited by BanCoe
  • Praise 2
Link to post
Share on other sites

Which reminds me of an old joke

First there was Maggie Mee

Then came Indo Mee

Then came Sodo Mee ( after the Anwar debacle) ð¤£

Actually now got Me2 , cum to think of it .... whatâs next only @angcheek got imaginative powers ð

Come come i give you free sodo Mee ... instant one
  • Praise 3
Link to post
Share on other sites

60% of the people who have reached 65  year old but did not withdraw money from their SRS? 

 

it looks like a good trend, meaning these people are financially capable. But not sure how many % of them did not withdraw money because they do not know they could . Look at it positively, if anyone is desperate, he would explore all sources to get money, to say a person does not know he could withdraw money from CPF is quite unlikely. 

Of course, assuming the statistic is truthful, no data laundry.  

 

https://www.zaobao.com.sg/realtime/singapore/story20190218-932869

Edited by Ct3833
Link to post
Share on other sites

60% of the people who have reached 65  year old but did not withdraw money from their SRS? 

 

it looks like a good trend, meaning these people are financially capable. But not sure how many % of them did not withdraw money because they do not know they could . Look at it positively, if anyone is desperate, he would explore all sources to get money, to say a person does not know he could withdraw money from CPF is quite unlikely. 

Of course, assuming the statistic is truthful, no data laundry.  

 

https://www.zaobao.com.sg/realtime/singapore/story20190218-932869

 

 

 can also mean didn't meet the minimum sum hence cannot withdraw?

Link to post
Share on other sites

it is why i said provided no data laundry.

 

If based on purely chinese language, " 可领取"  meaning eligible to withdraw.  And one more, if a person reaches 65,  does he still need minimum sum in his SRS before he could withdraw money?  need to read the fine print. 

 

六成会员到了可领取入息年龄没有取钱

Edited by Ct3833
↡ Advertisement
Link to post
Share on other sites

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 account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...