minority,

__Wow! More falsehoods and half-truths from you again, quoting those people who failed their Math or trying to propagandizing half-truths and lies.... __
__Let me just tear through your falsehoods and LIES and half-truths with HARD-TRUTH MATHEMATICS__ that cannot be faked (and not empty numbers with nothing to back up as told by these people)...

Assumptions: ( Exactly same as

http://dollarsandsense.sg/is-the-cpf...ally-that-bad/ )

*1) Drawdown age remains at 65 years old*

2) Payout remains at S$1,200

3) Current interest rates of CPF will remain unchanged

4) The minimum sum of S$155,000 is attained at age 55 years old

5) Life expectancy based on World Bank is at 82.1 years old

6) Ten year average inflation based on World Bank at 2.73%
FALSE results/conclusions from

http://dollarsandsense.sg/is-the-cpf...ally-that-bad/ )

*Results:*

1) The amount accumulated at age 65 is approximately S$216,000

2) The effective interest rate is 3.32% per year

3) It takes 21 years and 4 months to completely wipe out the S$216,000

4) There will still be S$67,100 in the CPF, when an individual survives until 82.1 years old
- Don't know whether this person failed his MATH or he is trying to lie???

REAL HARD-TRUTH RESULTS (from me, BACKED UP BY FACTS and REAL MATH!!!...):

Results:

1) If a MALE has S$155,000 in CPF Retirement Account at age 55 years old, The amount accumulated at age 65 is ACTULLY approximately = $242,000 (NOT $216,000!)

(based on 4% interest paid by CPF, with an extra 1% for the first $60,000, and an additional extra 1% for the first $30,000).

2) The effective interest rate DEPENDS ON HOW OLD YOU CAN LIVE!

3) How many years and months it takes to completely wipe out your amount of $242,000 depends on how much interest CPF Life is actually paying you (other than the known payout amount per month)!!! So you just need to know what is the interest/return you are getting from CPF Life to a certain age and you will know whether you are getting the raw end of the stick!!

4) CPF Life states that BEQUEST is ZERO when a MALE hits 85 years old!!

CPF Life states that BEQUEST is about $40,000 when a MALE hits 75 years old!!!

CPF Life never says what is the BEQUEST for a MALE at 82.1 years old, so how does that author obtain "There will still be S$67,100 in the CPF, when an individual survives until 82.1 years old"???

Is he trying to inflat the real figure for BEQUEST to make you all feel good???

Anyway, FACT is, **CPF Life document states that BEQUEST is about $40,000 when a MALE hits 75 years old, and hence there is NO WAY that BEQUEST can increase and become $67,100 when a MALE hits 82 years old (as CLAIMED by this author!)**

5) So what is the REAL effective interest rate if you can live till 82 years old? (ok ok, I use 82 to make minority happy and don't keep arguing on the age number, those REALLY, on average about 50% of 1960s born cohort would have died by 65 years old!)

Amount at age 55 = $155,000

Amount at age 65 = $242,000

Payout per month = S$1,200

Assume age you live till = 82

REAL CPF LIFE RETURN = 0.13% !!!!!!!!!!!!!!!!!!!!!

YES, THAT IS TRUE, "0.13%"!

(How do I get the "0.13%"? Use online calculator!)

__So, if you can live till 82 years old, CPF LIFE only pays you an INTEREST = 0.13% __!!!!!!!!!!!!!!!!!!!!!!!

HO HO HO, LIES, FALSEHOODS exposed within HALF-TRUTHS!!!!!

********** CONCLUSION: **********

This guy's statements contains FALSEHOODS mixed in HALF-TRUTHs!!!

So,

__either this guy at dollarsandsense.sg FAILED his MATH and is misleading people with his article or he is outright LYING through his TEETH!!!__