Continues to pay pittance in CPF interests rates, especially the portion that you cannot touch and cannot do anything about and is at the mercy of the despots?
What you see is just figures on a piece of paper or figures on the monitor.
How sure are you that the money is still there in the first place ?
What if one day even the "figures on a piece of paper or figures on the monitor." shows zero? That is too catastrophic to consider.
But if inflation hits 21% and your CPF continues to pay you 2%
What would Singaporeans do?
Protest at Speakers Corner like the DBS mini binds losers and pretend it would do any good?
There is a reason why u there are restrictions on CPF, in other countries where yr retrirement savings are managed by private fund managers, people lost lot of value on their money because of investment unpredictability or inefficiency of the managers.
Originally posted by Worldlybusinessman:There is a reason why u there are restrictions on CPF, in other countries where yr retrirement savings are managed by private fund managers, people lost lot of value on their money because of investment unpredictability or inefficiency of the managers.
I am not asking for the easing of restrictions... but a fair rate of interests on the CPF in the face of hyper inflation.
It is national security, when u open up the CPF to market volatility, there will be problems as others will try to do a run on our money.
Originally posted by Worldlybusinessman:It is national security, when u open up the CPF to market volatility, there will be problems as others will try to do a run on our money.
How is pegging interest rates paid on CPF to inflation - especially hyper inflation opening "up the CPF to market volatility"???!!!
Nothing, i will do nothing, just go on my normal life, eats, sleep, posting, shopping, chop bfs, followed by eat, sleep....
As for CPF, me got no CPF leh, maybe after 21 yo, i put some in for the purpose of getting govt give out only. Me clever, never contribute CPF, yeah!!!
but CPF got 4% interest hor
Originally posted by AndrewPKYap:
How is pegging interest rates paid on CPF to inflation - especially hyper inflation opening "up the CPF to market volatility"???!!!
staflation applied
Originally posted by Worldlybusinessman:It is national security, when u open up the CPF to market volatility, there will be problems as others will try to do a run on our money.
whatever they do with it is not of anybody problem, after, one thing i like CPF is that they have never said that they cover up their liabilities, who ever retired, get payout with no problem.
So, what is the problem here??
Originally posted by angel7030:Nothing, i will do nothing, just go on my normal life, eats, sleep, posting, shopping, chop bfs, followed by eat, sleep....
As for CPF, me got no CPF leh, maybe after 21 yo, i put some in for the purpose of getting govt give out only. Me clever, never contribute CPF, yeah!!!
but CPF got 4% interest hor
not all CPF got 4% hor., only small portion got 4% hor. the rest is only slightly better than the bank hor. the gohmen not stupid HOR
Originally posted by seyKai:
not all CPF got 4% hor., only small portion got 4% hor. the rest is only slightly better than the bank hor. the gohmen not stupid HOR
Oh! gahmen not stupid, me also not stupid mah, dun contribute CPF lah...but me got no medisave, medishield and other perks...
the interest is CPF pay to you
But due to u use the fund to buy HDB
Now.. u had to pay the interest using ur own money..
so.. basically, u are paying the interest for CPF.
CPF should thanks you for saving $$ for them
Originally posted by angel7030:
Oh! gahmen not stupid, me also not stupid mah, dun contribute CPF lah...but me got no medisave, medishield and other perks...
dont be too happy . u still have to pay it when u start working. silly girl
With the HDB concessionary loan pegged to the CPF interest rate, most likely you are not earning any extra on your CPF OA account other than for your housing needs. You should be concern about the cash or savings during an inflation since the CPF can only be use for your housing, medical and retirement needs for the period of non-withdrawal.
Jump off the 101 storey building
50 storey not high enough