Disallowing the withdrawal of CPF ?
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Papist government is sucking up money at every opportunity, so how long more before they disallow CPF to be withdrawn if leaving Sinkapore for good ?
Maybe after they trapped their targeted six million people?
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they onli wan u to feel rich n nothing more
if malaysia or indonesia allow singaporean to take up their citizenship.
think many will go n withdraw all our cpf
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To me, given the low birth rate, the number of citizens working will be even lower than now, added with work place bias against locals, government will soon have to find another source to feed their cronies.
Citizens' CPF are already locked out, and included in the government budget but if more losses and mismanagement occurs, I think they will be hard pressesd to find any more revenues. Robbing Citizens' CPF is already, in my opinion, breaking the back of citizens already. Citizens have nothing more for the government to fleece on.
PRs will have to be next, I don't really see how government can squeeze anything more, citizens will dwindle and fade away eventually. New citizens will just use this as a stepping stone to other countries anyway.
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PRs will have to be next, I don't really see how government can squeeze anything more, citizens will dwindle and fade away eventually. New citizens will just use this as a stepping stone to other countries anyway
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Originally posted by FBFIce:
they onli wan u to feel rich n nothing more
if malaysia or indonesia allow singaporean to take up their citizenship.
think many will go n withdraw all our cpf
no matter what i dun even think it possible any self-respecting singaporean will even bother to move to what? indonesia/malaysia? u gotta be kidding me. greener pastures or blacker pastures? lol right now even its still the opposite with malaysians and indonesians clamouring for australia and singapore lol. -
Originally posted by Casopia-maplesea:
no matter what i dun even think it possible any self-respecting singaporean will even bother to move to what? indonesia/malaysia? u gotta be kidding me. greener pastures or blacker pastures? lol right now even its still the opposite with malaysians and indonesians clamouring for australia and singapore lol.self-respecting singaporean .... are u?
I used to be a proud singaporean but not anymore, any blacker pasture cant be blacker than this
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Originally posted by Askingyouto:
Citizens' CPF are already locked out, and included in the government budget but if more losses and mismanagement occurs,
Talking about mismanagement,that day i read Indonesian government fine GLC Singtel for controling the market.And immediately after the fine,our GLC announce they are going to invest more money in Indonesia in future.
Talk about mismanagement.
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My friend once told me this analogy.
You put your money in a bank and then when you want to withdraw it after 30 years, the bank says sorry, we don't want to return you your money because we think you might squander it on gambling or whatever. Why not you leave the money with us longer and we return you $50 a month instead bit by bit.
And Singaporeans think it's a good idea.
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Originally posted by charlize:
My friend once told me this analogy.
You put your money in a bank and then when you want to withdraw it after 30 years, the bank says sorry, we don't want to return you your money because we think you might squander it on gambling or whatever. Why not you leave the money with us longer and we return you $50 a month instead bit by bit.
And Singaporeans think it's a good idea.
most likely the bank has no money to pay or trying to cheat u
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change can only come from within....not without...
means u have to decide what system you want to work for you and not for them ... perhaps if u were to be part of the system, u will come to the crossroad between sustaining with the hard truths of the harsh & dangerous global environments and your own individuals' well being....
the tempo is too fast and too rigid without alternatives...i believe every system is not infallible...they do make mistakes....thats ok... but they need to balance without further financial pressures on the lower classes....means they need to offset from the top...
at a personal level, i am more worried about our political neighbours and external threats in the next 10 to 20 years time..we need to pull ourselves together against such hard truths
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Originally posted by FBFIce:
most likely the bank has no money to pay or trying to cheat u
No, no.
We just need to trust the bank.
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Originally posted by charlize:
No, no.
We just need to trust the bank.
i trust my money better -
singaporeans contribution to CPF is simply out of the initial objectives, so, i never contribute one.
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Originally posted by angel7030:
singaporeans contribution to CPF is simply out of the initial objectives, so, i never contribute one.
huh?
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Originally posted by charlize:
huh?
she is boss of ktv lounge.. self employed no need contribute cpf..
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Originally posted by Askingyouto:
Papist government is sucking up money at every opportunity, so how long more before they disallow CPF to be withdrawn if leaving Sinkapore for good ?
Maybe after they trapped their targeted six million people?
You want to get riled up over imaginary situations.
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Originally posted by mancha:
You want to get riled up over imaginary situations.
There are hard truths from the MM.
And there are hard truths for the rest.
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Originally posted by mancha:
You want to get riled up over imaginary situations.
I have read that CPF will persuade citizens giving up Singaporean citizens not to give up their citizenship if they intend to be a citizen of another country, because Sinkapore does not allow dual citizenship currently.
Depending on the years they worked in Sinkapore and their salary before going abroad, the amount of money that they will withdraw from Sinkapore is in millions, so that's a sizable amount and besides that, those that leaves have skills or assets that they are instead contributing to other countries for the rest of their lives, which will aid in the growth of their adopted country. Sinkapore is losing big time.
I suspect that is one of the reason that the gov is holding onto our CPF, just look around and try to find how many locals are working to feed the gov's CPF. Low birth rate is already killing Sinkapore.
We, the citizens can take the hard truth.
The hard truth is the government got no balls to tell us the truth.
The truth is the government have devastated this country in their over-zealeous protection of their own cronies and their precious idiotic dumb Leefamilies.
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Originally posted by charlize:
My friend once told me this analogy.
You put your money in a bank and then when you want to withdraw it after 30 years, the bank says sorry, we don't want to return you your money because we think you might squander it on gambling or whatever. Why not you leave the money with us longer and we return you $50 a month instead bit by bit.
And Singaporeans think it's a good idea.
u forgot the part about their 3 dollar admin fee hor.... -
Originally posted by I-like-flings(m):
u forgot the part about their 3 dollar admin fee hor....Times are bad.
Paying them for holding on to your own money.
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our money are safe with the government. you see, we may spend it all or gamble it away. so the fantastic idea is to lock it up safely.
no withdrawal except for housing - front gate lock
buy best price public housing in the world - still locked, front door lock
extend withdrawal age with compulsory annuity - extra hinge lock on the door
put a casino outside the door - better reason to stay indoors
But be assured, the government is putting it away safely outside the door. they need it to use it for something meaningful in their names, they need to instil confidence in the world banking system no matter how high the price of the stakes of the banks they bought.
Oh i forgot one thing, Fire! Fire! Fire! oh damn it, how am i going to get out quick enough? i at least need to live on to be objective!.........
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It is good to contribute to the cpf for retirement purposes.
A few of my friends good a monthly withdrawal that credit into their saving account till the money finish. At least when old, u have the money to spend every month, rather than old, u left with nothing (assuming you took out all the money and spend it on batam or girls).
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i also tell my friends, you had to regard CPF as " deadman paper money æ»äººé’±“。
some of us will die without even qualify to withdraw.
think like that, we will die in peace,
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yes sad in fact that we started contributing to our 棺�本from our twenties onwards. but even some insurance has features that provides for �事. also, we can only accept whatever poor rates that comes with such a loonng life insurances 30-60 years depending on how long we live, since life insurances still come with death or illness cover other than the cash value. for cpf, the cover is eaten up.
for such a large amount, both the rate of return (normally projected 3-5% pa) and death or illness cover can be substantial at the end.
by allowing them to do what they want with 白金we gave to ourselves from younger, we are also resigned to poor rates for something that has NO liquidity. in insurance if we are willing to accept low liquidity (we don't touch the money), we can get rather high rates, not to mention other forms of investments yet.
by doing a wiki on real interest rates, we know how much we are shortchanged on our cpf. first, we are wiped out last year and this year with inflation coming in at about 4%, next regulatory risks which force us to accept whatever which may happen to our account like annuity should warrant higher rates too.
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The "real interest rate" is approximately the nominal interest rate minus the inflation rate (see Fisher equation and below for exact equation). It is the rate of interest an investor expects to receive after subtracting inflation. This is not a single number, as different investors have different expectations of future inflation. If, for example, an investor were able to lock in a 5% interest rate for the coming year and anticipated a 2% rise in prices, he would expect to earn a real interest rate of 3%.[1]
Since the inflation rate over the course of a loan is not known initially, volatility in inflation represents a risk to both the lender and the borrower.
In economics and finance, an individual who lends money for repayment at a later point in time expects to be compensated for the time value of money, or not having the use of that money while it is lent. In addition, they will want to be compensated for the risks of having less purchasing power when the loan is repaid. These risks are systematic risks, regulatory risks and inflation risks. The first includes the possibility that the borrower will default or be unable to pay on the originally agreed upon terms, or that collateral backing the loan will prove to be less valuable than estimated. The second includes taxation and changes in the law which would prevent the lender from collecting on a loan or having to pay more in taxes on the amount repaid than originally estimated. The third takes into account that the money repaid may not have as much buying power from the perspective of the lender as the money originally lent, that is inflation, and may include fluctuations in the value of the currencies involved.
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Originally posted by reyes:
i also tell my friends, you had to regard CPF as " deadman paper money æ»äººé’±“。
some of us will die without even qualify to withdraw.
think like that, we will die in peace,
RIP, for the glory of singapore future and youngs like me. Thanks for your CPF contribution, be assure that it will be put into good uses to built money generating business like casinos, shows, sleazy hotels etc etc