CPF Life Plans
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Originally posted by maxtor:
Regardless of which plan you choose, CPFLife locks up all your money. The only concern here is whether one would like to receive less now so their loved ones will receive more when they pass on.
Since CPFLife locks up all your money, there shouldn't be an annuity or non-annuity portion. The interest rate you receive on your CPFLife annuity should be 4% now, and be converted to yield of Singapore Government Securities + 1% after the end of this year. This coincides with the changes in CPF interest rates made to the SMRA (Special, Medisave and Retirement Accounts).
Historical Yield of 10 year SGS Rate
Year/Mth Yield
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2000 Dec 4.09
2001 Dec 3.97
2002 Dec 2.55
2003 Dec 3.75
2004 Dec 2.58
2005 Dec 3.21
2006 Dec 3.05
2007 Dec 2.68
2008 Dec 2.05
2009 Sep 2.38
For more information regarding changes of CPF interest rates, see -
http://mycpf.cpf.gov.sg/CPF/News/News-Release/N_3Sep2009.htm
For me i dun contribute to CPF -
Originally posted by angel7030:
U dun talk rubbish lah,...who said no refunds, CPFlife plans come in 4 plans to choose from ya, three of these plans allow for a contributor to bequeath his savings to his beneficiaries if he dies while still on the CPF Life scheme.The Life Plus plan gives the most in monthly payouts but will yield the smallest amount that can be bequeathed to beneficiaries.
On the other hand, the Life Basic plan gives the least in monthly payouts but provides the most should the contributor die. So dun anyhow talk rubbish ok.
Read the full text that was released by the CPF before you unload your daily load of "hum" onto the various threads twice a day.If you read Point 22 in the ‘Introduction to CPF Life’ (*1) - it states very clearly that -
"For those members who wish to receive the highest monthly income, they can choose the LIFE Income Plan. However, there are no amounts for bequest in this plan."
If you have no understanding to the meaning of the word "bequest" - ask you parents if they have prepared their wills and included you in any of the wordings.
Stop spreading your daily flippant crap from your "hum".
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Originally posted by Atobe:
Read the full text that was released by the CPF before you unload your daily load of "hum" onto the various threads twice a day.If you read Point 22 in the ‘Introduction to CPF Life’ (*1) - it states very clearly that -
"For those members who wish to receive the highest monthly income, they can choose the LIFE Income Plan. However, there are no amounts for bequest in this plan."
If you have no understanding to the meaning of the word "bequest" - ask you parents if they have prepared their wills and included you in any of the wordings.
Stop spreading your daily flippant crap from your "hum".
Uncle, i said the three plan only, who want to opts for the 4th plan, read probably hor...u think i dunno meh. -
Originally posted by angel7030:
Uncle, i said the three plan only, who want to opts for the 4th plan, read probably hor...u think i dunno meh.
Do you know what your "hum" is writing ?You mentioned 4 plans, and "talk alot and sing alot too" about the three plans - did you mentioned the 4th plan - when your "hum" had said so strongly - "U dun talk rubbish lah,...who said no refunds".
The 4th Plan had no refunds.
With all the talk and attention focused on the refunds - no one bothered about the security of the fund that support such an insurance plan and how the large pool of money is being invested and how the profit will benefit the members.
Even the payout is not inflation indexed - as explained in Point 33 of the ‘Introduction to CPF Life’ (*1) - even as the payout will fluctuate to account for the investment returns and mortality experienced amongst the members to this proposed program.
The existence of the "hum" in spreading frivolous ignorance can only derail any serious contributors to the thread.
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Originally posted by Atobe:
Do you know what your "hum" is writing ?You mentioned 4 plans, and "talk alot and sing alot too" about the three plans - did you mentioned the 4th plan - when your "hum" had said so strongly - "U dun talk rubbish lah,...who said no refunds".
The 4th Plan had no refunds.
With all the talk and attention focused on the refunds - no one bothered about the security of the fund that support such an insurance plan and how the large pool of money is being invested and how the profit will benefit the members.
Even the payout is not inflation indexed - as explained in Point 33 of the ‘Introduction to CPF Life’ (*1) - even as the payout will fluctuate to account for the investment returns and mortality experienced amongst the members to this proposed program.
The existence of the "hum" in spreading frivolous ignorance can only derail any serious contributors to the thread.
i mentioned 3 plans only, i did not want to go into the 4th plan, because it is not popular among those who opts for it.
I dun see anything wrong with CPF lifeplan, it is good, however, i see a family social problem in adopting the plans, the old folks have to decide for themselves, and most are influenced by their childrens, who will ask them to opts of less monthly cash and money refund upon death. u get what i mean...
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Well i dont believe in all this CPF life plans. In my recent Letter eailier this year to the ST Forums about the DPS and the reply that Income gave is totally unacceptable. If you want the citizens to retire at 65 years old and the DPS covers only till 60 , than what if the person dies at 61 and still has a child schooling ?
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Originally posted by secret_boy:
Well i dont believe in all this CPF life plans. In my recent Letter eailier this year to the ST Forums about the DPS and the reply that Income gave is totally unacceptable. If you want the citizens to retire at 65 years old and the DPS covers only till 60 , than what if the person dies at 61 and still has a child schooling ?
Do you want to elaborate further on your letter to ST Forums and the reply that Income gave?
For many of us the CPF Life plan is not an open option. It's compulsory.
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Originally posted by secret_boy:
Well i dont believe in all this CPF life plans. In my recent Letter eailier this year to the ST Forums about the DPS and the reply that Income gave is totally unacceptable. If you want the citizens to retire at 65 years old and the DPS covers only till 60 , than what if the person dies at 61 and still has a child schooling ?
Govt never ask you to retire at 65yo, they only said if you can work, carry on, and the official retirement age is 62yo ya. Any child who is below the age of 21yo will not be eligible for DPS, a guardian have to be appointed by the CPF holder just incase he passed away at 61yo, whichto me, is very sayang. And when his/her Child reach 21yo, he/she will be able to take over the DPS money kept in CPF whereby during this the Guardian can only use for this child education, medication and any other hardship grant as deem appropriate.
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Originally posted by maxtor:
Do you want to elaborate further on your letter to ST Forums and the reply that Income gave?
For many of us the CPF Life plan is not an open option. It's compulsory.
My mum is 60 this may 2009, she receive the letter to say that her DPS will not be renewed as it covers only till the person is 60. In my letter, i also mention on more citizens are now working till they are above 60 and many has got some form of $ commitment be it paying for child's school fees or elderly parents medcial.Reply i got from income:
Income said they are running the DPS on behalf of CPF and the admin is done by CPF , they are working together to study if covering those above 60 is possible .
(More or less is something like that, i just cut short some parts and simplify it)
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Originally posted by angel7030:
For me i dun contribute to CPFIn case you don't know, most sole proprietors need to pay CPF for Medisave (even taxi drivers pay Medisave), if you don't need to pay CPF, only confirms your vocation as a prostitute. A prostitute working off the streets don't need to pay CPF.
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Originally posted by deepak.c:
In case you don't know, most sole proprietors need to pay CPF for Medisave (even taxi drivers pay Medisave), if you don't need to pay CPF, only confirms your vocation as a prostitute. A prostitute working off the streets don't need to pay CPF.
Paiseh paiseh, you expose her vocation.
NOw I gonna help her improve her business since she complains business is no good. Hello, male forumers if any of you need some service do feel free to contact angel7030.
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my advice to forumites here above 55 who intend to sign up for the CPF life plan.....hold on first. Don't be too tempted by the extra bonus of up to $4k if you sign up now. Once u sign the plan, it's a contract for life....there's no opt out unless on medical or citizenship grounds.
The govt seems to be in a hurry to make singaporeans above 55 to sign up for the plan by giving the extra bonuses. In my view, if they really meant to benefit the citizens, why such gimmicks? Why not give the bonuses to all singaporeans?
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Originally posted by angel7030:
i mentioned 3 plans only, i did not want to go into the 4th plan, because it is not popular among those who opts for it.
I dun see anything wrong with CPF lifeplan, it is good, however, i see a family social problem in adopting the plans, the old folks have to decide for themselves, and most are influenced by their childrens, who will ask them to opts of less monthly cash and money refund upon death. u get what i mean...
The contradictions of the life of a pathetic "hum" can also be seen in the ways that the "hum" thinks about "cock" and will continue to sing its "song"."I dun see anything wrong with CPF lifeplan, it is good, however, i see a family social problem in adopting the plans".
How can you say that "I dun see anything wrong with the CPF lifeplan" - even when you "see a family social" ?
You are already an insufferable ignorant "hum" - are you trying to be "swei-siao" too ?
Originally posted by angel7030:Govt never ask you to retire at 65yo, they only said if you can work, carry on, and the official retirement age is 62yo ya. Any child who is below the age of 21yo will not be eligible for DPS, a guardian have to be appointed by the CPF holder just incase he passed away at 61yo, whichto me, is very sayang. And when his/her Child reach 21yo, he/she will be able to take over the DPS money kept in CPF whereby during this the Guardian can only use for this child education, medication and any other hardship grant as deem appropriate.
What was the price that you have to pay for the PAP Government to give a Taiwanese "hum" the papers for Citizenship ?
Do you have to sing the "cocks" and talk "song" about the PAP ?
Since when has CPF been allowed to be used for any medication, and that the "Govt never ask you to retire at 65yo" ?
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Originally posted by deepak.c:
In case you don't know, most sole proprietors need to pay CPF for Medisave (even taxi drivers pay Medisave), if you don't need to pay CPF, only confirms your vocation as a prostitute. A prostitute working off the streets don't need to pay CPF.
no, it is an option, but of course you dun get the rebate, taxis are different, they are bound by contract, there are lots of causal workers not contributing to CPF, and the govt and NTUC are pestering them like crazy. My Dad told me, CPF in singapore is a like an attachment, a chain tight on your legs, therefore it is up to individual to pay CPF, but I am not saying CPF is no good, for a layman on the street with a family, he should contribute to CPF for the sake of security and long term saving or leasing House.
There are lots of medical insurance that provide better coverage than Medisave, but of course, if i dun contribute, i expect no relief in both personnal and business taxes...so i hv to weight the pros and cons. But for me, i may not be in Singapore for long, will retire in Taiwan, so why should i get attached to CPF, sure they will make problem for me with i wanted to totally withdraw it before moving back to taiwan. A chain on the leg ya
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Originally posted by Atobe:
The contradictions of the life of a pathetic "hum" can also be seen in the ways that the "hum" thinks about "cock" and will continue to sing its "song"."I dun see anything wrong with CPF lifeplan, it is good, however, i see a family social problem in adopting the plans".
How can you say that "I dun see anything wrong with the CPF lifeplan" - even when you "see a family social" ?
You are already an insufferable ignorant "hum" - are you trying to be "swei-siao" too ?
My humble Uncle, u get me wrong,Last time, you can withdraw all your CPF by 62yo, most will spend and write deeds for his/her decendents, today, you cannot withdraw all, they pay you month by month, the more you withdraw, the less your decendents take when you pass away, and if you opts for th 4th plan, which provide no return, i think with today youngsters mind, they will leave their old man rot till death without even bother to take care of him....on the other hand, if the old man opted for less monthly payout and more return upon death, i think his decendents will make him die faster...so you get the picture?? family problem hor
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Originally posted by Rock^Star:
my advice to forumites here above 55 who intend to sign up for the CPF life plan.....hold on first. Don't be too tempted by the extra bonus of up to $4k if you sign up now. Once u sign the plan, it's a contract for life....there's no opt out unless on medical or citizenship grounds.
The govt seems to be in a hurry to make singaporeans above 55 to sign up for the plan by giving the extra bonuses. In my view, if they really meant to benefit the citizens, why such gimmicks? Why not give the bonuses to all singaporeans?
The government need as many Singaporeans to come onboard their CPF Lifeplan insurance program so that it will reach a critical mass early.
The CPF Lifeplan is the PAP Government's alternative solution of NOT giving a LUMP SUM withdrawal to the CPF account holders.
The CPF Lifeplan is the PAP Government's solution to delay and stretching out the return of the huge CPF savings due to Singaporeans by paying in small quantums and through the years - hoping that the final return of the smaller remaining balance amounts will be spaced as the life of each CPF account holder terminate at different period.
If all the old baby-boomers - born between 1947 through 1968 - should retire at about the same time and withdraw their CPF savings at about the same period, the surge of withdrawals will simply bankrupt the CPF.
This is the logical outcome when the CPF contributions tapered to lesser volumes through the succeeding years, when the success of LKY's Family Planning program begin to kick in and its effects began to be felt twenty years later from 1980s onward.
By the 1980s, the CPF Time Bomb was already obvious with the Howe Yoon Chong Commission being set up to study the entire CPF system; and by 1984 - his report began the consistent cycles of PAP continuously tinkering with the withdrawal age that was original guaranteed at the retirement age of 55 years.
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Originally posted by angel7030:
My humble Uncle, u get me wrong,Last time, you can withdraw all your CPF by 62yo, most will spend and write deeds for his/her decendents, today, you cannot withdraw all, they pay you month by month, the more you withdraw, the less your decendents take when you pass away, and if you opts for th 4th plan, which provide no return, i think with today youngsters mind, they will leave their old man rot till death without even bother to take care of him....on the other hand, if the old man opted for less monthly payout and more return upon death, i think his decendents will make him die faster...so you get the picture?? family problem hor
Only a useless "hum" will hope and take advantage of its ignorant parents, and wish that they will die faster.Does a ignorant "hum" know what family life is about when it leads a useless solitary life inside a shell and without the company of its brain that has to be left outside the tiny shell ?
You should "talk cock and sing song" at your bar, and stop spreading your ignorance in this Speaker's Corner with your contradictions :
"I dun see anything wrong with CPF lifeplan, it is good, however, i see a family social problem in adopting the plans".
Only a foolish "hum" will "see nothing wrong" even when a program will have negative effects to produce "family social problems".
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CPF life span is to acknowledge few key social issue facing singaporeans,
1. old age and longer life
2. old age poor financial planing leading to adultery social spending
3. guarantee of income for the entire life
4. medical protection for the whole life
5. independency from unfaithful childrens
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Originally posted by angel7030:
CPF life span is to acknowledge few key social issue facing singaporeans,
1. old age and longer life
2. old age poor financial planing leading to adultery social spending
3. guarantee of income for the entire life
4. medical protection for the whole life
5. independency from unfaithful childrens
Are these social issues, or are they issues of the Old in Singapore ?These issues could have been solved if the sum of US$100 BILLION was not lost by the irresponsible acts by GIC and Temasek Holdings.
That US$100 BILLION could have been the Trust Fund to pay for all the premiums that would have been deducted from the account holders to make the CPF Lifeplan become a reality to benefit Singaporeans.
Even in early 2009, the PAP Government had received the approval from the Elected President to withdraw S$4.5 BILLION - from the Singapore Reserves - to pay all Singapore Employers to protect the jobs in Singapore.
Who do you think is the beneficiary, when the GLC is the biggest employer in Singapore ?
Did any Singapore Small and Medium Sized employers received any benefits in any significant sums from this amount of S$4.5 BILLION ?
Inspite of being paid S$4.5 BILLION withdrawn from the Reserves and paid to the employers, we still hear from the PAP ministers that by year end, Singaporeans should be prepared for another 100,000 to be retrenched.
Why was that S$4.5 BILLION from the Singapore Reserves not used to kick-off the CPF Lifeplant for Singaporeans ?
Only a useless ignorant Taiwanese "hum" will continue to spread the PAP propaganda as condition of Singapore Citizenship.
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our social issue is too many "angel like" people who are not singaporeans in singapore...
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Originally posted by GHoST_18:
our social issue is too many "angel like" people who are not singaporeans in singapore...
hahahaha..hehehe...of all the so called intellectual old goondos here, you are the most brilliant..hehehe -
Originally posted by Atobe:
Are these social issues, or are they issues of the Old in Singapore ?These issues could have been solved if the sum of US$100 BILLION was not lost by the irresponsible acts by GIC and Temasek Holdings.
That US$100 BILLION could have been the Trust Fund to pay for all the premiums that would have been deducted from the account holders to make the CPF Lifeplan become a reality to benefit Singaporeans.
Even in early 2009, the PAP Government had received the approval from the Elected President to withdraw S$4.5 BILLION - from the Singapore Reserves - to pay all Singapore Employers to protect the jobs in Singapore.
Who do you think is the beneficiary, when the GLC is the biggest employer in Singapore ?
Did any Singapore Small and Medium Sized employers received any benefits in any significant sums from this amount of S$4.5 BILLION ?
Inspite of being paid S$4.5 BILLION withdrawn from the Reserves and paid to the employers, we still hear from the PAP ministers that by year end, Singaporeans should be prepared for another 100,000 to be retrenched.
Why was that S$4.5 BILLION from the Singapore Reserves not used to kick-off the CPF Lifeplant for Singaporeans ?
Only a useless ignorant Taiwanese "hum" will continue to spread the PAP propaganda as condition of Singapore Citizenship.
what old issue, why alway link our CPF to temasek and all those losses, CPF lifeplan was created long before this crisis took place, i was in SIM doing HR when i am invited for a talk at DBS auditorium, as my frens need company, and i am always the funny and jovious one, they beg for my company, so i tack along, that was in the end of 2007, and my gosh, that then MOM minister Dr Ng, already spend out the blueprint for us to consider. So dun think that this plan got anything to link with any lost ya, and even so, it is not involved in any sense.Our medical tech is advancing, people are living longer, you need a plan to sustain a longer life, it is not that CPF is unable to fulfil their obligation to you, till now, nobody is deny any full withdrawal when the time arrive, you got trust your pension system, CPF had serve us well thru all these years of prosperity and nation building, and as the world changed, we got to change to adapt, our system cannot remain the same when people are living longer, financial investment are no longer that secure and of course, with advance sex enhance medication, lust is on the increase.
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Originally posted by GHoST_18:
our social issue is too many "angel like" people who are not singaporeans in singapore...
more accurate statment should be prostituties who pretent to be angel
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Originally posted by angel7030:
For me i dun contribute to CPFya we know that prostitute don't need to contribute to cpf
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Originally posted by alancia:
more accurate statment should be prostituties who pretent to be angel
hahahah, good one! ROFL!