CPF withdrawal and Chionging

[nitecrawllerr]

Originally Posted by JizFries

Please lah.. This one is to prevent PRC got con simple-minded uncles or aunties leh. here not political forum okay?

Hallo. In SBF we can discuss anything under the sun.

Btw just cos some uncle no use his big head n got swindle by ATB, the rest of uncle must suffer along with him too? I can do my own investment. Why must the garment locked up my RA and only give me bit by bit till i kick the bucket? Why cant the garment give us an option to opt out if we can manage our own cpf funds?

[abcitbats]

i think is not some uncles but many

and also, many claim they can do better investment, but analysis shows that most lose in their investments.

in the end, the above folks complain money not enough

Originally Posted by nitecrawllerr

Hallo. In SBF we can discuss anything under the sun.

Btw just cos some uncle no use his big head n got swindle by ATB, the rest of uncle must suffer along with him too? I can do my own investment. Why must the garment locked up my RA and only give me bit by bit till i kick the bucket? Why cant the garment give us an option to opt out if we can manage our own cpf funds?

[zeefee71]

Originally Posted by abcitbats

i think is not some uncles but many

and also, many claim they can do better investment, but analysis shows that most lose in their investments.

in the end, the above folks complain money not enough

In terms of quantity yes many. But percentage wise think it's minority. Agree many incur losses in investments including myself and money always not enough lah

[nitecrawllerr]

Originally Posted by abcitbats

i think is not some uncles but many

and also, many claim they can do better investment, but analysis shows that most lose in their investments.

in the end, the above folks complain money not enough

Money where enough. Pay A Pay.

[deadstonehero]

Originally Posted by abcitbats

i think is not some uncles but many

and also, many claim they can do better investment, but analysis shows that most lose in their investments.

in the end, the above folks complain money not enough

Come SBF, sell govt propaganda.

[singleman]

bcos CPF is a scheme under garment, so it may have someone pro or against garment CPF policy. but let take it as individual has their own thinking and opinion, and they are free to express them. even if we dun agree with each other thinking, but let still respect each other and have a happy discussion here.

to me, my thinking is the CPF has its own good or bad points. for those who earn a lot and have more money in the CPF, they dun mind have their money parked in CPF and is ok to have the FRS set aside so that they can get the monthly payout later. but for those who earn less then not able meet the FRS, then only can withdraw 5k at 55 and the rest of the money kena locked there. so they will think the CPF is not good. like my sis this year 55, CPF send letter to her regarding on the withdrawal. bcos her OA did not hv much as need use for house payment every month, but her SA got 36k plus n MA 50k plus.. so not able meet FRS or BRS, therefore she only can withdraw 5k and the rest 31k "locked" inside RA and only can get the monthly payout from 10 years later. now she still go a house payment to pay monthly and hence will definitely need to continue work. so to her u all think CPF scheme is good or bad for her? haha

so everything got its good and bad points, those benefit from it will feel is good, those will not benefit will feel is bad.

just my thinking only, no offence to anyone.

[spectreray]

Originally Posted by singleman

bcos CPF is a scheme under garment, so it may have someone pro or against garment CPF policy. but let take it as individual has their own thinking and opinion, and they are free to express them. even if we dun agree with each other thinking, but let still respect each other and have a happy discussion here.

to me, my thinking is the CPF has its own good or bad points. for those who earn a lot and have more money in the CPF, they dun mind have their money parked in CPF and is ok to have the FRS set aside so that they can get the monthly payout later. but for those who earn less then not able meet the FRS, then only can withdraw 5k at 55 and the rest of the money kena locked there. so they will think the CPF is not good. like my sis this year 55, CPF send letter to her regarding on the withdrawal. bcos her OA did not hv much as need use for house payment every month, but her SA got 36k plus n MA 50k plus.. so not able meet FRS or BRS, therefore she only can withdraw 5k and the rest 31k "locked" inside RA and only can get the monthly payout from 10 years later. now she still go a house payment to pay monthly and hence will definitely need to continue work. so to her u all think CPF scheme is good or bad for her? haha

so everything got its good and bad points, those benefit from it will feel is good, those will not benefit will feel is bad.

just my thinking only, no offence to anyone.

Agree on these.... But can anyone here come out with just 1 policy that can satisfy 100% of the population??? If can, please just state what policy you wanna change.

Imagine you have 5 kids, even a simple family rule cannot be implemented across all the kids.

I'm not pro gov.... Some policies sucks.... Really f.... Up.... Like transport got more than 70% profit almost every year.... Yet still increase fare...

But overall, still ok compare with other countries. If oppositions are any good...n its a big IF....

[singleman]

Originally Posted by spectreray

Agree on these.... But can anyone here come out with just 1 policy that can satisfy 100% of the population??? If can, please just state what policy you wanna change.

Imagine you have 5 kids, even a simple family rule cannot be implemented across all the kids.

I'm not pro gov.... Some policies sucks.... Really f.... Up.... Like transport got more than 70% profit almost every year.... Yet still increase fare...

But overall, still ok compare with other countries. If oppositions are any good...n its a big IF....

dun think there is such a policy can satisfy 100% of the populations. bcos there could be no such things as can all people be equal, some bound to lose or some bound to gain. just look at the 10 fingers on ur hand, can they be all equal in length, can't be right. bcos human being are naturally born with different finger length, so do their fate will be different.

if there is such a policy let say can satisfy 99% of the population it is still up to the one/party who govern the country willing to implement the policy bcos they could be the one who is in the 1% who may not benefit from the policy. so it is still depend on the people up there.. unless as some bro said change the people up there. but when the people up there being changed, will the new up people be better or worst.. we wont know.. only god know. haha

[spectreray]

Precisely what I'm trying to get at... There's not a single policy in the world that can satisfy 100% in all countries... Not even in your own household under your own rule n control

[nitecrawllerr]

Late pioneer politician Dr Toh Chin Chye’s sharp criticism of raising the Central Provident Fund (CPF) withdrawal age over three decades ago resounds even today as the world’s largest human resources consulting firm, Mercer, recently renewed calls to raise the CPF withdrawal age given growing lifespans.

Astutely highlighting that policymakers are civil servants who draw a pension that does not come from their savings and criticising the Government for unnecessarily touching on CPF savings to solve other problems and for the “vexatious burden” CPF is on employers and employees, Dr Toh Chin Chye said in part:


“I think everybody recognizes there is a problem for the aged. The Minister for Health says so. Only they do not believe in his methods of solving this problem.
“We need to clearly define the boundaries within which the CPF will be used for retirement. We must spell that out. You just cannot say, “Let us raise the withdrawal age to 60 or 65.” It must be 60. It must be 65. Now, at which age? This Paper does not contain any calculation at all to say what will happen if it is withdrawn at 60, or what will happen if it is withdrawn at 65.
“Mr Speaker, I think fundamental principles are being breached. The fundamental principle is this. The CPF is really a fixed deposit or a loan to Government, which can be redeemed at a fixed date when the contributor is 55 years old. If I were to put this sum of money in a commercial bank and, on the due date I go to the bank to withdraw the money, the manager says, “i am sorry, Dr Toh, you will have to come next year”, there will be a run on the bank!
“It is as simple as this, that the CPF has lost its credibility, the management of it. This is fundamental.”




Mr Howe Yoon Chong (Minster of Health): You have already withdrawn yours?

Dr Toh Chin Chye: I have withdrawn mine. But in fairness to my constituents and to others who have not yet reached this age, I ask “Do you wish me to speak, or do you wish me to be dumb?” They say, they are against this. So I have to explain to them the problems that they will be facing and, most importantly, some of them tell me this. They are not going to squander their money on world-wide trips to see Mickey Mouse in Disneyland. Some married late. By the time they retire at 55, their children are due to go to junior college or the university. Many of them are banking on this sum of money to cover the cost of their children’s higher education.

Some hon. Members: Hear! hear!

Dr Toh Chin Chye: If you say they cannot withdraw until 60 or 65, their children had it. It is as simple as that. With these words, Mr Speaker, I pass the debate to abler Members of the House. [Applause]

http://theindependent.sg/toh-chin-ch...wal-age-renew/

[superior]

Originally Posted by abcitbats

maybe dividend is still possible, how many here can afford rental and director income?

all needs planning and not here to discuss.

[PuXeu]

Originally Posted by superior

all needs planning and not here to discuss.

Don't discuss then what is this forum for?