Disallowing the withdrawal of CPF ?
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I remember last time i studied that retiring was at 55yo for singaporean, how come now 62yo and going...why people dun stop it, so you cannot blame the govt, if you do not stop the retirement age, the CPF will continue to be lock up
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Originally posted by angel7030:
I remember last time i studied that retiring was at 55yo for singaporean, how come now 62yo and going...why people dun stop it, so you cannot blame the govt, if you do not stop the retirement age, the CPF will continue to be lock up
How to stop?
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Originally posted by angel7030:
I remember last time i studied that retiring was at 55yo for singaporean, how come now 62yo and going...why people dun stop it, so you cannot blame the govt, if you do not stop the retirement age, the CPF will continue to be lock up
Looks like by the time you retire, it will be 80 years old.
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dun laugh, it can come true, by 80yo still have to go CPF building to get a loan from your own saving...
, and the Q nos can be very long -
Originally posted by Askingyouto:
How to stop?
Go on protest like Bahrain, Libya, Egypt...chiong ar??? -
There is a rule for the Malaysian working in this country, those from penisular side cannot withdraw their CPF but those from Sabah n Sarawk can withdraw.
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Originally posted by will4:
There is a rule for the Malaysian working in this country, those from penisular side cannot withdraw their CPF but those from Sabah n Sarawk can withdraw.
Are you sure?
Why is it so.....?
Sabah/Sarawak side tua gi.....?
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Originally posted by angel7030:
dun laugh, it can come true, by 80yo still have to go CPF building to get a loan from your own saving...
, and
the Q nos can be very longWhen you are 80 years old and you need to get a loan from your own CPF account, it means that Singapore has become utopia.
For the people at the top.
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Originally posted by angel7030:
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
dont worry, only a pussy shxx like you deserve to take money from the dead. you certainly qualify!to those who ask how to stop? stop living in your dream,wake up. it start from the parliament, who make up the parliament? who decide the election?
it all start from you. we are cause of all this mess!! stop whinning and walk the talk!!
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Originally posted by charlize:
When you are 80 years old and you need to get a loan from your own CPF account, it means that Singapore has become utopia.
For the people at the top.
utopia is message parlour in BKK. 80 years old go utopia? bro cannot stand.
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Having cpf till retirement also good.
Just to ensure old pple will have money to spend.
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having cpf till retirement is only good when govt share the part of the pain of the wait for our money up to retirement. otherwise, they get to use our money for free while we do the waiting
it will only be good having cpf up to retirement if;
govt match dollar for dollar (sharing burden)
OR it'll be good also if they are able to guarantee rock solid employment throughout (accounting for)
OR if they are taking care of cost in education, healthcare, housing and NS income & insurance cover (responding to needs)
OR if they receive a quarter of what they are receiving now (building dreams together - it is not easy to achieve the above but we can all try together)
it is not good if they cannot meet even one of the above and implying they are so good, took their two million and leave us in the lurch
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Originally posted by mrObjective:
having cpf till retirement is only good when govt share the part of the pain of the wait for our money up to retirement. otherwise, they get to use our money for free while we do the waiting
it will only be good having cpf up to retirement if;
govt match dollar for dollar (sharing burden)
OR it'll be good also if they are able to guarantee rock solid employment throughout (accounting for)
OR if they are taking care of cost in education, healthcare, housing and NS income & insurance cover (responding to needs)
OR if they receive a quarter of what they are receiving now (building dreams together - it is not easy to achieve the above but we can all try together)
it is not good if they cannot meet even one of the above and implying they are so good, took their two million and leave us in the lurch
Bro, the concern of most ppl here they are not able to withdraw it in their lifetime.i dont think govt will match dollar to dollar as they reason probably they extend our withdraw age could be they do not have enough cashflow to pay us. most of it are invested in GLC, temasek and GIC.
other proposal by you is day dream. to answer some of it, sky rocketing HDB price, more foreigners coming into singapore for work, cap in medisave withdrawal for treatment.
wait long long.
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I hv a uncle, he has cpf, he decided to withdraw all his cpf money when he reached 55 yr old. Now, his cpf is closed, he went back to malaysia for good. Now, his saving almost dried up, he cannot come to spore to work anymore. Told him not to take all money out, he wont listen. Now work in malaysia drawing $1k myr per month.
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Originally posted by reyes:
Bro, the concern of most ppl here they are not able to withdraw it in their lifetime.i dont think govt will match dollar to dollar as they reason probably they extend our withdraw age could be they do not have enough cashflow to pay us. most of it are invested in GLC, temasek and GIC.
other proposal by you is day dream. to answer some of it, sky rocketing HDB price, more foreigners coming into singapore for work, cap in medisave withdrawal for treatment.
wait long long.
Bro, yes i understand what you mean, any of those that i have listed is in fact day dreaming in s'pore context. but what i'm trying to say is since they are drawing such a perfect salary, all these should not be dreams at all.
they are trying to say they are the best in the world by drawing such salaries but in fact those that i've listed are all happening in western nations. nevermind that they are in debt now because of this, they at least stand as one & prosper & suffer together. so we are not asking them to meet all those but if they can't meet even one of them, this shows how overhyped their capabilities are.
we are not asking for the sky, all these are basic items in life. if they have no cashflow to support the average man these, they shouldn't have enough cashflow to justify their perfect salaries either and so they shouldn't be imposing so much tax.
so my point here is; those are not really proposals but more to illustrate the accounting point of view. in accounting sense, no money for this? no money for that either. lock up our cpf? then better compensate accordingly. want us to shoulder the burden of education, healthcare & retirement? then better make sure there are jobs for everyone all the time. it is just a way of balancing our account against theirs to know at any time whether we are shortchanged.
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Originally posted by likeyou:
I hv a uncle, he has cpf, he decided to withdraw all his cpf money when he reached 55 yr old. Now, his cpf is closed, he went back to malaysia for good. Now, his saving almost dried up, he cannot come to spore to work anymore. Told him not to take all money out, he wont listen. Now work in malaysia drawing $1k myr per month.
yes, the idea of enforced savings is good for some or in fact many. but this should not be used as an excuse to hoard our money for selfish purposes. much less to use it to exploit the middle and lower class in terms of the eventual returns.
if they find it difficult not to implement a blanket lock up for all, then as what i explained in long term interest rates terms, we should be compensated sufficiently instead of the current 2.5%, 4%, 4%. with additional 1% for first $60,000.
for a period of 30-60 years lock up, these rates are not acceptable. and in fact if we check the cpf website, these rates are not guaranteed either, so we are more like being at the maximum rates right now with the crisis waiting
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Originally posted by likeyou:
I hv a uncle, he has cpf, he decided to withdraw all his cpf money when he reached 55 yr old. Now, his cpf is closed, he went back to malaysia for good. Now, his saving almost dried up, he cannot come to spore to work anymore. Told him not to take all money out, he wont listen. Now work in malaysia drawing $1k myr per month.
oh, hw come his money dry up so fast, malaysia sun hotter ar?? If he is a malaysian, it is non of our concern. -
Originally posted by mrObjective:
yes, the idea of enforced savings is good for some or in fact many. but this should not be used as an excuse to hoard our money for selfish purposes. much less to use it to exploit the middle and lower class in terms of the eventual returns.
if they find it difficult not to implement a blanket lock up for all, then as what i explained in long term interest rates terms, we should be compensated sufficiently instead of the current 2.5%, 4%, 4%. with additional 1% for first $60,000.
for a period of 30-60 years lock up, these rates are not acceptable. and in fact if we check the cpf website, these rates are not guaranteed either, so we are more like being at the maximum rates right now with the crisis waiting
What enforce??, gentlemen, please be remind that CPF contribution is not compulsory, read the laws properly hor, you can go on contract jobs or be a boss like me, but if you choose to a montly wage earner, the company needs to contribute by laws.So, if you tell peoples that govt keep the CPF monies and all those nonsense, please ask yourself, why you contribute in the first place.
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seems like it is not easy to explain this. okay, let's see it from a few different angles. first - just because we willingly contribute does not mean it is not our money.
next - if the only way the average man can keep the cpf part of our money is by working as contract staff, then it will be great joke indeed; ministers drawing the millions as permanent staff, the average man is a contract staff.
Finally, can't you see, it's is just a figure game. the govt and media always like to scream loudly headlines like these 'median income rises 12% in 2010'
the median income is; mind you 'median assessable income'. try telling them not to tax our cpf part (both employer & employee) since it is not from our daily effort?
with such a headline, they are telling the whole world we are well taken care of, drawing increasing salaries. since they are announcing this & now they (& you) turn back, behind the scenes to tell us part of this that they use to their own advantage actually belong to them? oh yes, I'm fooled, they are so nice, so capable & we are talking nonsense indeed.
so let's go back to accounting; it is very clear whenever we use accounting. when we use accounting, we don't bother what they do, minimum wage, lock up cpf, increasing population, draw their perfect salaries, in fact, they can draw how much they want - if they are capable
do whatever they want if they can provide the basics. for eg. if they can give 10% p.a on our cpf, I'm okay with my cpf locked up, why? because with the rule of 72 estimation, an amount will double in about 7 years. in 28 years, $20,000 will become $320,000, way above the cpf minimum sum, the rest we can draw earlier. but are GIC & temasek that capable? the answer is obvious.
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Originally posted by angel7030:
oh, hw come his money dry up so fast, malaysia sun hotter ar?? If he is a malaysian, it is non of our concern.
That is what most of the pple thinking, they think of getting all his money out and can retired not knowing that cost of living has increased, everything is expensive, even a $50 note, just blink, it's gone.And the money dried up very fast till, they panic and desperate to get a job or else, money gone and everything gone. No blanket to fall onto...
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if we are not able to control our spending, cpf locked or not locked, end result is the same and we only have ourselves to blame. but this still does not justify money of others to be locked with ours.
if all are locked at unreasonable rates, only one group to blame, the govt.
only way to help this group is to heavily publicise the need for annuities at age of withdrawal, the way they do it for gambling prevention
which is why i said if gic & temasek are capable, even after drawing out at 55, we still have quite a bit to draw on later
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Originally posted by reyes:
utopia is message parlour in BKK. 80 years old go utopia? bro cannot stand.People talk politics, and you start talking about sleazy massage.
Geez.