CPF ups Min Sum to $148k and MinMedSave to $45.5k (increased of $11k in total)

[phantom_opera]

now u know what is the real inflation level

2010 – $123,000

2011 – $131,000 (+6.5%)

2012 – $139,000 (+6.1%)

2013 – $148,000 (+6.5%)

[minority]

so these uncle who hang out at kopi tiam in geylang represent the entire population???

please do yourself a favor, shut up

Where n which blind eye of urs see me say entire population ? Degenerate !

[eng81157]

Where n which blind eye of urs see me say entire population ? Degenerate !

wah piang, kam gong. didn't i ask should the majority be punished for the sins of the minority??

eh, please go spend time preparing for your PSLEs instead of wasting time here.

[minority]

for bank loans, i don't need have my deposits exceeding the loan amount i take out.

secondly, i can do what i deem fit if it is truly my retirement fund eh? all these goalpost changing, isn't it the same as france, italy, spain all pushing back retirement age to deter pensioners from taking out their monies?

except in singapore, it's under the 'guise' of protecting the citizens. pttuuuii

Too complicated for u to understand I guess. When population decline n people don't replace themselves . N they reject new citizens. The model have to evolve to substain. Passing it to a insurance instead will prevent a run at the system.

Anyway it's too complicated for ur feeble brain. Everyone is out to makan u. Why don't u leave n go JB Loh. Go get rape there instead.

[minority]

wah piang, kam gong. didn't i ask should the majority be punished for the sins of the minority??

eh, please go spend time preparing for your PSLEs instead of wasting time here.

Wahhhhhhhhhhhhhhhhhhhh

Is that the best u can do? I thought u can do better!

[eng81157]

Too complicated for u to understand I guess. When population decline n people don't replace themselves . N they reject new citizens. The model have to evolve to substain. Passing it to a insurance instead will prevent a run at the system.

Anyway it's too complicated for ur feeble brain. Everyone is out to makan u. Why don't u leave n go JB Loh. Go get rape there instead.

eh kam gong, what model? ponzi model? catwalk model?

do you even know what the discussion is about? go off tangent talking about insurance??!!

go prepare for PSLE

[DKSG]

If you all go showflats and pay attention to those buyers > 55 years old. It is not difficult to understand the government's view.

It is indeed true that many older folks are unable to handle their finances. Those young ppl in this forum maybe cannot understand why 60 year old uncle can get conned by China MM (Mei Mei) - are their IQ so low ?

Nonono ... they just want instant gratification even if it means future sufferings.

So, forcing ppl (the general public) to put money is CPF is good one. Of course there is a group of ppl like those smart, intelligent, financial savvy forumers here who will feel short changed because with the money in CPF, you guys will be able to make even more than what the CFP is giving!

But what to do, our policies are not calibrated by individual IQ, so have to take this lor!

Trust me, if u can calculate how many uncles can get conned by CNN (China MM), multiply by the costs the country will have to bear (ie handouts, old folks shelter, etc), the cost will be exorbitant.

Those smart and intelligent should use this to help the rest, not use it for their own purpose and endanger the rest.

DKSG

[minority]

eh kam gong, what model? ponzi model? catwalk model?

do you even know what the discussion is about? go off tangent talking about insurance??!!

go prepare for PSLE

WAHHHHHHHHHHHHHHHHHH

Is that all u can say. thats really feeble. u are just blind and jealous man. u are really kam lan. never tao is it?

[minority]

If you all go showflats and pay attention to those buyers > 55 years old. It is not difficult to understand the government's view.

It is indeed true that many older folks are unable to handle their finances. Those young ppl in this forum maybe cannot understand why 60 year old uncle can get conned by China MM (Mei Mei) - are their IQ so low ?

Nonono ... they just want instant gratification even if it means future sufferings.

So, forcing ppl (the general public) to put money is CPF is good one. Of course there is a group of ppl like those smart, intelligent, financial savvy forumers here who will feel short changed because with the money in CPF, you guys will be able to make even more than what the CFP is giving!

But what to do, our policies are not calibrated by individual IQ, so have to take this lor!

Trust me, if u can calculate how many uncles can get conned by CNN (China MM), multiply by the costs the country will have to bear (ie handouts, old folks shelter, etc), the cost will be exorbitant.

Those smart and intelligent should use this to help the rest, not use it for their own purpose and endanger the rest.

DKSG

The Kum 1 wan to see stats.. u have stats bo. if not say u bluff 1. I personally also know few who have lost $ to China MM or worst 60 yrs old spend all his $ in China MM and then sign credit cards to rack up $200K debt before the children have to step in to bail him out and cut up all the credit cards etc.

[hopeful]

.......

Trust me, if u can calculate how many uncles can get conned by CNN (China MM), multiply by the costs the country will have to bear (ie handouts, old folks shelter, etc), the cost will be exorbitant.
.....

i dont trust people who ask me to trust them.
if you are talking about getting con, how come govt still allow dubious investment schemes like geneva gold, profitable plots etc?

sorry i cannot calculate, can you provide some figures the cost of being cheated by china mei mei and cost of being cheated by dubious investment schemes.

[hopeful]

for bank loans, i don't need have my deposits exceeding the loan amount i take out.

secondly, i can do what i deem fit if it is truly my retirement fund eh? all these goalpost changing, isn't it the same as france, italy, spain all pushing back retirement age to deter pensioners from taking out their monies?

except in singapore, it's under the 'guise' of protecting the citizens. pttuuuii

yes, have mentioned before. cpf is a more restrictive form of bank as compared to normal banks. if can borrow more than cpf account, then it lays bare the lie that cpf is a retirement fund instead of the bank. you put money in bank, you get interest. you put money in cpf, you get interest.

as stated earlier, it is not your money in your cpf account. it is not your money if you cannot hold it. always remember this, "possesion is 9/10 of the law".

as for pushing back retirement age, it is because of longer life expectancy.
last time people start work at 20, retire 55, died 70. so 35 years working to support 35 years non-working (15 years retirement + 20 years childhood).

people live longer. now died 80. and start work at 25. if maintain retirement age ie : 25: 55: 80. so 30 years working to support 50 years non-working (25 years retirement + 25 years childhood). System likely to be non-sustainable.

increase retirement age to 65
if ratio of 25:65:80. 40 years working to support 40 years non-working (15 years retirement + 25 years childhood), which is similar to 20:55:70

and yes, all governments do not like pension funds to be taken out in full. so they use ways and means to deter and restrict the flow of money out of pension funds. pension funds can be quite useful, as an eg. pension funds can be used to buy government bonds.

please get rid of the notion that cpf is your money. it is not.
and i am not telling the pros and cons of cpf, etc etc whether it is right or wrong restrictions, shifting goal post. i am only telling what it is.

[heehee]

You make a very good point. Those gold guarantee, land banking, time sharing companies many are dubious, why are they allowed to scam people so much money & no prior actions taken to stop them scaming while CPF min sum keep being raised by so much in the name of protecting these people's money?

We should have opt-in scheme where those assessed to be unable to manage their money can have all money managed by the state, not just min sum. That way they earn high interest of 2.5% & money very safe right? People who support CPF min sum should walk the talk

i dont trust people who ask me to trust them.
if you are talking about getting con, how come govt still allow dubious investment schemes like geneva gold, profitable plots etc?

sorry i cannot calculate, can you provide some figures the cost of being cheated by china mei mei and cost of being cheated by dubious investment schemes.

[maisonjai]

hopeful
interesting post on working years vs non-working years.

[radha08]

personally i feel the reason why this country is so sucessful is because of our
CPF scheme but then again maybe a BIT TOO sucessful that a lot of people
on the lower rung of the ladder are feeling the heat

[minority]

i dont trust people who ask me to trust them.
if you are talking about getting con, how come govt still allow dubious investment schemes like geneva gold, profitable plots etc?

sorry i cannot calculate, can you provide some figures the cost of being cheated by china mei mei and cost of being cheated by dubious investment schemes.

Wah those also government fault ? u are so funny. so what abt car dealers? arent those who sold car never transfer also dubious? So need government to police also? like that many things to police. So the mini bond also government fault? The Lehman collapse and whole US issue also our government never police?

Maybe we should be police state?

Frankly people need to take some responsibility for their own action.

So I guess CPF is good. coz lock people $ up so people dont do stupid things and regret later.? So CPF increase is good! then.

[minority]

You make a very good point. Those gold guarantee, land banking, time sharing companies many are dubious, why are they allowed to scam people so much money & no prior actions taken to stop them scaming while CPF min sum keep being raised by so much in the name of protecting these people's money?

We should have opt-in scheme where those assessed to be unable to manage their money can have all money managed by the state, not just min sum. That way they earn high interest of 2.5% & money very safe right? People who support CPF min sum should walk the talk

CPF raise stop people loose money to scam.! loose $ to scam blame government? LOL!

Time for people to take some responsibility! want freedom but cannot take responsibility ? LOL tats so childish and naive.

[teddybear]

Since you said people need to take own responsibility, then don't need CPF right? People can take own responsibility if lose money to scam, people can also take own responsibility by not having CPF right? What for? Another idiotic statement!

CPF raise stop people loose money to scam.! loose $ to scam blame government? LOL!

Time for people to take some responsibility! want freedom but cannot take responsibility ? LOL tats so childish and naive.

[teddybear]

The 2 statements just show you have no brain, keep contradicting yourselves.

If people can take own responsibility, then don't need CPF too since they can take own responsibility even if they lose all money later!

Wah those also government fault ? u are so funny. so what abt car dealers? arent those who sold car never transfer also dubious? So need government to police also? like that many things to police. So the mini bond also government fault? The Lehman collapse and whole US issue also our government never police?

Maybe we should be police state?

Frankly people need to take some responsibility for their own action.

So I guess CPF is good. coz lock people $ up so people dont do stupid things and regret later.? So CPF increase is good! then.

[minority]

Since you said people need to take own responsibility, then don't need CPF right? People can take own responsibility if lose money to scam, people can also take own responsibility by not having CPF right? What for? Another idiotic statement!

Precisely! u see the people complain government must take care of them etc. so u think the people can be responsible?

U are a big idiot!

[teddybear]

Not sure who is idiot? You have understanding problem right?

Hopeful is rebuking your statement that CPF is meant to help you all safe guard your money because if govt really wants to safe-guard you people's money, they should just stopped all those scammers operating time-share companies and gold guarantee first because they are obviously scams instead of letting people lose money in these stuffs. Since they are not willing to do so, then the purpose of having CPF to safe-guard people's money as you purported doesn't hold water.
Hopeful, please correct me if I am wrong about what you mean.

Precisely! u see the people complain government must take care of them etc. so u think the people can be responsible?

U are a big idiot!

[minority]

Not sure who is idiot? You have understanding problem right?

Hopeful is rebuking your statement that CPF is meant to help you all safe guard your money because if govt really wants to safe-guard you people's money, they should just stopped all those scammers operating time-share companies and gold guarantee first because they are obviously scams instead of letting people lose money in these stuffs. Since they are not willing to do so, then the purpose of having CPF to safe-guard people's money as you purported doesn't hold water.
Hopeful, please correct me if I am wrong about what you mean.

LOL u are prata man.. CPF cannot be used to invest into those scam. there are a list of CPF approved investment fund. which have been limited to a smaller list.

So u agree CPF is good. LOL its a free market some one want to buy gold at 30% premium. who can stop them. So by saying that u are saying everything in singapore must be government policed. So u make $ is great! if government restrict dont let u make $ is government fuxk. But if u loose $ is always government fault! never regulate.

Anyway these company already are not MAS approved entity. already tell u at ur own risk. want freedom of choice? then this is the risk.

LOL u are a joke. wat a clown

if not the gold scam then the china Mei Mei. that want also must regulate too? LOL.. u are a joke... ok ok for u. u should also ask MAS regulate china mei mei too.. ok.. dumb ass.

So everytime there is a new scam come up. some people loose $ b4 it get close down. so its government fault? how fast can u catch scam?

So isnt it safer that CPF help sate guard the $?

[star]

I personally find cpf is good. If not for cpf alot of youngsters may not be able to buy hdb flat. Most youngers spend money blindly on luxury cars even they can bearly afford, restaurant fine dinning, luxury bags or things, impress girls etc. They don't save enough. Luckily got cpf they are able to buy hdb flat by monthly deduction. As for old people most tend to spend all their money when they were given a lump sum. They spend on gamble to past time, some on women, some spend on tours every few months in the end left with no money.
Cpf is indeed a good thing.

[alamak]

I personally find cpf is good. If not for cpf alot of youngsters may not be able to buy hdb flat. Most youngers spend money blindly on luxury cars even they can bearly afford, restaurant fine dinning, luxury bags or things, impress girls etc. They don't save enough. Luckily got cpf they are able to buy hdb flat by monthly deduction. As for old people most tend to spend all their money when they were given a lump sum. They spend on gamble to past time, some on women, some spend on tours every few months in the end left with no money.
Cpf is indeed a good thing.

CPF is a good thing for those under 55 for the reason you said.

After 60, 10 out of 10 men/women (including you ) would not live to see their CPF money taken out to be spend in the way they like (eg daily expenses, for their remaining day, mind you not even for coffin money ?? ).

I say CPF money should be return in FULL immediately after 70. No one live to 85 with this stress.. many died not from hunger but worry and unhappiness.. Forget about the CPF Life annuity.. Crab crab .. pian lao nang..

Is CPF still good for you after 60, think about it ??

[hopeful]

Not sure who is idiot? You have understanding problem right?

Hopeful is rebuking your statement that CPF is meant to help you all safe guard your money because if govt really wants to safe-guard you people's money, they should just stopped all those scammers operating time-share companies and gold guarantee first because they are obviously scams instead of letting people lose money in these stuffs. Since they are not willing to do so, then the purpose of having CPF to safe-guard people's money as you purported doesn't hold water.
Hopeful, please correct me if I am wrong about what you mean.

Yes, you get what i mean. If people asked politely like eng81157, i would respond. those with an attitude, i dont respond and just let them win.
As for losses to china mei mei and other reasons, that is a smoke screen. What is a bank worst fear? that their deposit base is getting smaller.

you see the govt has always used the term forced savings. Now where do you save. in a bank.
I was reading TREmeritus the other day, the article by prof balding about CPF rates being much lower as compared to GIC, TH returns and how cpf holders are being taken for a ride. Now I am not as qualified academically as prof balding, nor as smart.
Let's say I deposit money in DBS, i earn 0.75% interest. DBS earn 10% profit.
Now can DBS depositors demand DBS bank to share that 10% profit with all the depositors? The answer is a big NO.
That's why I find it humorous that cpf depositors are supposed to get higher returns just because GIC and TH are getting higher returns.

I cannot give definitive evidence that cpf is a bank. however....
If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.

[Regulators]

cpf is a scam in itself. the majority of the country seems to be made up of dumbos like you that need the govt to plan your finances n all pappies who subscribe to cpf must be dumbos too.

CPF raise stop people loose money to scam.! loose $ to scam blame government? LOL!

Time for people to take some responsibility! want freedom but cannot take responsibility ? LOL tats so childish and naive.

[The_Way_I_See_It]

CPF is a good thing for those under 55 for the reason you said.

After 60, 10 out of 10 men/women (including you ) would not live to see their CPF money taken out to be spend in the way they like (eg daily expenses, for their remaining day, mind you not even for coffin money ?? ).

I say CPF money should be return in FULL immediately after 70. No one live to 85 with this stress.. many died not from hunger but worry and unhappiness.. Forget about the CPF Life annuity.. Crab crab .. pian lao nang..

Is CPF still good for you after 60, think about it ??

Let me just add that Here we are NOT A WELFARE State. ChengHU don't take care of elderly unlike the western country Even though the country seem" rich enough" to do so. So the more the state have no right to deprive you of your rightful own money when their mentality is you "died your own business".

[Regulators]

the govt is using one size fits all approach for cpf which is flawed from the beginning. they assume everyone is a dumbo like minority, who incidentally belongs to the very small minority.

CPF is a good thing for those under 55 for the reason you said.

After 60, 10 out of 10 men/women (including you ) would not live to see their CPF money taken out to be spend in the way they like (eg daily expenses, for their remaining day, mind you not even for coffin money ?? ).

I say CPF money should be return in FULL immediately after 70. No one live to 85 with this stress.. many died not from hunger but worry and unhappiness.. Forget about the CPF Life annuity.. Crab crab .. pian lao nang..

Is CPF still good for you after 60, think about it ??

[Regulators]

yes, I agree with you. our govt in reality leaves us all to fend for ourselves yet they do not allow us to maximise the returns on our money and allow it to be tied down in cpf, paying lousy returns which are barely enough to cover inflation.

Let me just add that Here we are NOT A WELFARE State. ChengHU don't take care of elderly unlike the western country Even though the country seem" rich enough" to do so. So the more the state have no right to deprive you of your rightful own money when their mentality is you "died your own business".

[Allthepies]

Everything is a scam . We being richer and enjoying better life than most people on planet Earth is a scam by itself. The less fortunate people have been scammed to allow us to lead better life than them.

[Regulators]

it is luck, not scam. we happen to have a stupid neighbor that gave up a precious piece of land n we made good the foundation that raffles laid for us.

Everything is a scam . We being richer and enjoying better life than most people on planet Earth is a scam by itself. The less fortunate people have been scammed to allow us to lead better life than them.