What will life be like if CPF is never implemented?
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Now many ppl mati young
CPF idea good?
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yalor, with no CPF like me and some property agents, we can evade income tax quite easily ok..no need IRAs mah
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Originally posted by Day Dreamer:
Now many ppl mati young
CPF idea good?
if you mati young then there is nothing much in CPF to worry about. -
I believe more young people are getting sick with lifestyle diseases but bio-science and bio-engring are lengthening our lives.
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Originally posted by 4sg:
I believe more young people are getting sick with lifestyle diseases but bio-science and bio-engring are lengthening our lives.
we oredi have bio-economy and bio-politicians -
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Originally posted by sgdiehard:
Not sure when is your source but as far as I know, over 50% of the HK population live in public housing. The more important thing is the ownership, most HK rent the government housing while most singaporean own the housing.
Singapore and HK have similar population density of around 6400 psm. while Hk is interjected with mountains, singapore need to preserve the water reservoir, water catchment area, military training area, and small farms. Average Singapore flats are around 24 storeys while in HK it is 40 storeys. check with the HK people and you will find out the comparison of the sizes of the flats between the countries. I expect you to be more knowledgeable on this.
The major land owner in Singapore is the government, in HK it is the Lee family and others. Tong Chee Hwa wanted to build public housing similar to the HDB for HK but the main objections came from the private developers. "government should not have any influence on property market". Hk has more billionnaires than Singapore, no doubt, but how do they become billionnaires? property development! it is still the rich get richer, the poor get poorer. the difference is who are the rich and who are the poor. You can't be the government of HK, but do you think you can be the developers in HK?
since when has the market for private housing, besides the landed in singapore sustained by internal growth? prices have gone exponentially high before the financial meltdown in the US, then prices came down by more than 40%. now you see prices going up, will it sustain? ever heard of the 12 years cycle?
if you get better returns from private housing, why should the 3.5% be a limit to your investment in private housing. Why do you want to leave in money in your CPF and be exploited by the government. go join the q for private condos, I have one for sales, when the price is high enough.
The data of 52% private home ownership was in 2007, it is from the Housing Authority of Hong Kong. Whether rental or purchase, it makes no difference, because public housing is for families to live in, it is not an investment like private properties, if you sell off your house, you still end up with no roof over your head. To the financially burdened which do you think is better? Renting a flat or buying one? According to you, most in Hong Kong rents public housing, which means that the Hong Kong government has public interest in providing the less financially capable with a roof over their head, this cannot be said of the Singapore government. The rental rates of Hong Kong public housing is HK$38 to HK$45 per sq. m., which means 800 sq. ft. unit would only cost SG$522. Where in Singapore can you get a 3 room HDB for SG$522 a month?
http://www.housingauthority.gov.hk/en/aboutus/resources/figure/0,,3-0-18566-2008,00.html
The Kowloon Peninsula to the south of Boundary Street and the New Territories to the north of Hong Kong Island were added to Colonial Hong Kong in 1860 and 1898 respectively. The body of water between Hong Kong Island and Kowloon Peninsula is Victoria Harbour, one of the deepest maritime ports in the world. The landscape of Hong Kong is fairly hilly to mountainous with steep slopes. The highest point in the territory is Tai Mo Shan, at a height of 958 metres[2]. Lowlands exist in the northwestern part of the New Territories.
Hong Kong is 60 km east of Macau on the opposite side of the Pearl River estuary. It has a land border with Shenzhen to the north. Of the territory's 1,092 square kilometres, less than 25 percent is developed.[citation needed] The remaining land is reserved as country parks and nature reserves.
http://en.wikipedia.org/wiki/Geography_of_Hong_Kong
If you look under google map for Hong Kong under terrain, you can see the distinguishing mountains and hills. I hope this helps you to understand. But I guess it would be futile.
You mean to tell me in the past, housing was built for the benefit of foreigners to purchase? You sure about your claims?
Housing for foreigners was just a small percentage in the past, but within these few years, with the governmen't policy of increasing citizens by importing foreigners has led to a drastic increase in the price of properties. (1.5 million foreigners compare to 3 million citizens {also take note that some of these 3 million citizens are newly converted foreigners}) That's why I said, in the past housing was more of an internal growth, but these past few years, with a steep increase in population (by immigration from PRC, India, Indonesia), the price of housing has increased more drastically. If you have problems understanding this, just go to the Singstat website to confirm that Singapore's population has increased substantially these few years. 12 year cycle? Maybe you can cite the source of your theory? So when is the peak and trough of this 12 year cycle? What 3.5% investment in private housing are you talking about? You sure you understood all my post?
You obviously have problems understanding what is the $60,000 cap in CPF. -
CPF was implemented as a way to control inflation during the construction of MRT in the 1980s.
It's now been exploited by the government as a cheap source of funds.
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Interesting post from the governments' REACH website.
When we complained about the rising cost of livings, it simply means one thing:
Since the Mid-80s Recession, our salary had been suppressed such that for doing the same job in SIngpaore, I am earning TWICE that in Hong Kong, Macau, UAE and Middle East.
We are complaining now because we are paid 3rd World Salary with 1st World Cost of Living in Singapore.
And do remember that in mid-80s, CPF was 20% - EMployer 20% Employee; adn briefly 25% - EMployer - 25% - Employee.
Guess that most of you all are too young to remember PAP Government Proud Boast at the then Booming 80s that CPF will eventually reach 50% overall when "Re-structuring Singapore Economy to "Hi-tech, Hi-Pay" is completed".
Guess we are still re-structuring isn't it?
And PAP Aristocrats are quietly telling us to lower our expectation sin't it?
Whereas in Booming 80's, our expectation was then to upgrde from:
- 1-room HDB rental to 3-room HDB flat
- 3-room HDB to 5-room HDB flat
- 5-room HDB to private condo.
You mean that in 21st Century Uniquely Singapore, a developed 1st World COutnry, we got to lower our expectation below even our 1980's SIngpaore Dream?
Let alone attaining Swiss Standard of Living 1999?
How quaint.
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Originally posted by angel7030:
Which govt in the world disclose their info totally???ok assume..let's ass u and me,
You open a food stall, many peoples come and try your foods, u try your very best to cook and impress well, of the hundred who came, 50 return and eat further and become your regular customers...adding on new comer..dun you think that you had attracted peoples even if you loose half of it.
You attracted a PRC engineer, he becomes a citizen, brings his wife, his one kid, mother and father in, buy a HBD flat, and later on get promoted, get a car, upgrade his house and so on. Question: Do you think he will give up all these to jump to another country??
Most north European democratic governments disclose fully their information e.g. Sweden has a law that all must be published since the gov comes from the people it makes sense. It's a way for the public to make sure no hanky panky is going on. Most PR's that I know would not consider staying here in Singapore when they get older for the simple reason that it is too expensive to live here and with the money they earned here they can live a much better life elsewhere. -
Originally posted by deepak.c:
CPF was implemented as a way to control inflation during the construction of MRT in the 1980s.
It's now been exploited by the government as a cheap source of funds.
CPF implemented in 1980s?
"Singapore introduced CPF as early as 1955 as compulsory savings scheme for retirement. In the 70s CPF contributions were increased to cushion rising inflation,......
no difference between renting and buying? when you buy the house its yours, 30 years or sooner, and you can pass on to your children. Your really have a roof. and if prices are high and you sell, you pocket the difference, then you can buy a smaller one, move to the lowest priced district, or move to live with your children, ..
when you rent you, the house is never yours... good that you can be happy to just rent, or it is the affordability that matters?
don't need statistics to compare HK, just talk to the people there. Cannot build houses on hills, the ones at the mid level are the most expensive ones, private properties, guess why?
If you choose what you want to read, any other info I guess it would be futile.
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Ahem...
Ya don't OWN a HDB. Ya only LEASE it from de gahmen.
Using CPF to purchase a lease HDB roof o'er yer head , is only ya money flowing from gahmen left pocket to right pocket.
At the end of de day, ya money is not worth very much.
HDB is no different from private developers, as they sell them leased units based on MARKET RATE. Meaning, they charge according to how much consumers are willing to pay, NOT at cost + margin.
Ya all, get ya facts right eh ?
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Originally posted by jojobeach:
Ahem...
Ya don't OWN a HDB. Ya only LEASE it from de gahmen.
Using CPF to purchase a lease HDB roof o'er yer head , is only ya money flowing from gahmen left pocket to right pocket.
At the end of de day, ya money is not worth very much.
HDB is no different from private developers, as they sell them leased units based on MARKET RATE. Meaning, they charge according to how much consumers are willing to pay, NOT at cost + margin.
Ya all, get ya facts right eh ?
since when is anything yours in this age and time? you buy the right of use.
even computer software, your right of use is limited to one computer.
Nobody is obliged to sell anything at cost + margin, how do I know the cost is really cost, and why should I agree with their margin. The bank says they provide financial services but their CEO got billions while I lost my money based on their advice, so what is the right margin?
yes, money is not worthy very much, so when you put your money in the bank for FD, how much do they give you as interest? better borrow money from them.
But as long as I pay the price that I cannot buy something better and they don't charge me for costs escalation, because of sand embargo or what....after I say the purchase agreement, and If prices go up I get to pocket the difference when I sell it, whether it is HDB or private. I am ok. and of courseI will pay more for a freehold than a lease hold, more for landed than for condo.
and even if it is leased hold and I can sell en bloc and get a higher return, I can't live forever to hold on to things forever.
and who say it is a fact then is a fact?
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Using CPF to purchase a lease HDB roof o'er yer head , is only ya money flowing from gahmen left pocket to right pocket.
ya money ain't yrs no more, ya got yr roof o'er yer head. can't hve both.
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Originally posted by sgdiehard:
if you mati young then there is nothing much in CPF to worry about.
Lets say one mati at the age of 40++ 50...Wasted right?
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Originally posted by sgdiehard:
since when is anything yours in this age and time? you buy the right of use.
even computer software, your right of use is limited to one computer.
Nobody is obliged to sell anything at cost + margin, how do I know the cost is really cost, and why should I agree with their margin. The bank says they provide financial services but their CEO got billions while I lost my money based on their advice, so what is the right margin?
yes, money is not worthy very much, so when you put your money in the bank for FD, how much do they give you as interest? better borrow money from them.
But as long as I pay the price that I cannot buy something better and they don't charge me for costs escalation, because of sand embargo or what....after I say the purchase agreement, and If prices go up I get to pocket the difference when I sell it, whether it is HDB or private. I am ok. and of courseI will pay more for a freehold than a lease hold, more for landed than for condo.
and even if it is leased hold and I can sell en bloc and get a higher return, I can't live forever to hold on to things forever.
and who say it is a fact then is a fact?
Eh.. Mr immigrant, incase ya donch know.. HDB is a public housing organisation ok ? And ye should know jolly well, this ain't no free market in Sg.
Only in Singapore, can you sell a used leasehold for a higher price than the original. And ya know that's a scam.
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Originally posted by sgdiehard:
Using CPF to purchase a lease HDB roof o'er yer head , is only ya money flowing from gahmen left pocket to right pocket.
ya money ain't yrs no more, ya got yr roof o'er yer head. can't hve both.
u cannot have a roof over yr head and some money? -
Originally posted by Pripps:
Most north European democratic governments disclose fully their information e.g. Sweden has a law that all must be published since the gov comes from the people it makes sense. It's a way for the public to make sure no hanky panky is going on. Most PR's that I know would not consider staying here in Singapore when they get older for the simple reason that it is too expensive to live here and with the money they earned here they can live a much better life elsewhere.In every country, the financial Minister will announce it annual financial position with a budget proposed, recommended, endorsed and implemented. The way the position is deliberated depend on each country models of governing, can be different democratic kind of models or other governing system like communism or socialism. But there can never be full disclosure, it just a matter of wanting to release more or less of the statement, and even if the nation account book is partially released, it only serve the purpose of seeking its citizen understanding, and usually these figures are massaged and presented for a cause. Also, bearing in mind that national account are audited within the national secruity act, you believe in them? It is of the National security that national account should not leak out as other nation will study your position and know all weak and strong points.
The swedish declared their account the same as our Finance Minister declared our bugdet for the year, their financial minister will only make a few key notes on the deficit and surplus thereby proposer and implementation. Most of these Scandinavian Vikings also have a CPF system which i think they call it PPM.. state authority that handles a part of the pension savings of the population, collected through taxes on income. PPM gives each pension saver the possibility to choose among a wide range of funds in which to place his/her savings. The saver can change funds as often as wanted, and at no cost. A pension saver's account gives a snapshot of a person's holdings in form of shares in various funds at a given time. And there is no guarantee of any sort. In a nutshell, I believe we are better than them in our CPF that cover our medical cost and insurance..etc etc.
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Originally posted by jojobeach:
Ahem...
Ya don't OWN a HDB. Ya only LEASE it from de gahmen.
Using CPF to purchase a lease HDB roof o'er yer head , is only ya money flowing from gahmen left pocket to right pocket.
At the end of de day, ya money is not worth very much.
HDB is no different from private developers, as they sell them leased units based on MARKET RATE. Meaning, they charge according to how much consumers are willing to pay, NOT at cost + margin.
Ya all, get ya facts right eh ?
O day ya, at the end of the day, we all will die, why bother so much...just get what is given now with a roof and good living..ya care O ya so much abt left to right, or right to left for what ya. -
Originally posted by Day Dreamer:
Lets say one mati at the age of 40++ 50...Wasted right?
ya, wasted...true, not only CPF, saved money, but also sex, porn and so many other things to enjoy, all gone..childrens and wifey will be the most happiest -
Originally posted by Day Dreamer:
Lets say one mati at the age of 40++ 50...Wasted right?
ya, wasted...true, not only CPF, saved money, but also sex, porn and so many other things to enjoy, all gone..childrens and wifey will be the most happiest to -
Originally posted by angel7030:
O day ya, at the end of the day, we all will die, why bother so much...just get what is given now with a roof and good living..ya care O ya so much abt left to right, or right to left for what ya.Oh sista angel, ye always shine such positive lights, even in the gloomiest of time.
Good living ya, I couldn't agree more, but at a reasonable cost, I shall not gripe.
But to be ripped off in broad daylight, this kind of bliss, I cannot enjoy.
Perhaps I may, if I close my eyes, but that be no different from death.
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公积金是个伟大的计划。
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Originally posted by NG QIBO AARON AUBREY:
公积金是个伟大的计划。
China don't have meh ?
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Originally posted by jojobeach:
Oh sista angel, ye always shine such positive lights, even in the gloomiest of time.
Good living ya, I couldn't agree more, but at a reasonable cost, I shall not gripe.
But to be ripped off in broad daylight, this kind of bliss, I cannot enjoy.
Perhaps I may, if I close my eyes, but that be no different from death.
It aint the gloomiest yet, dear sista, why let them rip us off if we can find hole and gap to rip them instead, be smart, use rain water, buy without Gst, eat home cook food, dun contribute CPF or any charity stuffs, work and live within one mean ya. De local here are just falling into their traps...so pitiful.