Any Ceiling for contribution of CPF OA?

[chestnut]

I am confused? Important questions???? I don't find them important at all, hahahaha. You seem so worked up over not knowing this 'important questions'. Relax and smell the roses. Hahaha

All those "Only God's know" answers I will be very curious to know!!!!!!!!!!
So many questions that "Only God's know", I also don't know why there is need to hide them? I am not the first one nor am I going to be the last to ask these questions! (all these questions are hot topics in coffeeshop talk!)

I can bet that Hakuho, chestnut, cbsh, etc all also don't know the answer to these so important questions!

[teddybear]

I smell roses for too long until bored and must find some amusement to poke fun at those LIARS and BULLSHITTERS!

Why, you just recently got chance to smell roses is it and hence still not bored?
Wait till you smell roses for as long as me then you will know my feeling...........

I am confused? Important questions???? I don't find them important at all, hahahaha. You seem so worked up over not knowing this 'important questions'. Relax and smell the roses. Hahaha

[chestnut]

Wah, you quite old hor. Then mustn't get too worked up leh,,.. take more care of your health..... learn to relax and enjoy life..... find things you like to do.... like travelling, exercising while you still can....

I have always taken time to smell roses since young and still continue to enjoy. Hahahaha.....

I smell roses for too long until bored and must find some amusement to poke fun at those LIARS and BULLSHITTERS!

Why, you just recently got chance to smell roses is it and hence still not bored?
Wait till you smell roses for as long as me then you will know my feeling...........

[teddybear]

Being able to see behind smoke screens and have sharp thinking to realize the "important questions" and things hidden is what keep me sharp as hell even till now..........
Don't relax and smell rose too much without using your brain (like what you are showing now) else you may become senile very fast! Don't say I never warn you! I have seen too many cases of friends becoming like that thinking that they finally can relax and smell roses and then a few years later become senile liao!
Not having sharp thinking is a sign of the start of "senility"............

Wah, you quite old hor. Then mustn't get too worked up leh,,.. take more care of your health..... learn to relax and enjoy life..... find things you like to do.... like travelling, exercising while you still can....

I have always taken time to smell roses since young and still continue to enjoy. Hahahaha.....

[chestnut]

Being able to see behind smoke screens and have sharp thinking to realize the "important questions" and things hidden is what keep me sharp as hell even till now..........
Don't relax and smell rose too much without using your brain (like what you are showing now) else you may become senile very fast! Don't say I never warn you! I have seen too many cases of friends becoming like that thinking that they finally can relax and smell roses and then a few years later become senile liao!
Not having sharp thinking is a sign of the start of "senility"............

Agree.... must keep brain sharp. Must also be physically fit. My recent tour to Russia, Wah lao, I saw people 60+ walking so slow. And there were quite a few. Must work the brain but must also work the body. Need to exercise at least 1 hr a day and get a good cardio work out. Don't be a key board warrior too much. Don't get agitated too much also when old. I have seen many people kana stroke, heart attack because they did not exercis. So please do not only focus on brain, go for exercise as well. Don't say I never warn you.....

Oh btw, don't get so upset easily, it is no good for the not so young. If you are not upset (maybe I read too much into your replies), good for you. Remember, good brain is important, but quite useless if not fit.....

Jog if you can, if not go for brisk walk. If cannot, go for slow walk...

Good night.

[teddybear]

Don't worry, I am fit, can walk 20,000 steps per day no problem.
Recently just came back from trip to Zhangjiajie. Nice scenary, but lots of walking! People much younger than me also can't even walk and complete the route! Oh my gosh!

Agree.... must keep brain sharp. Must also be physically fit. My recent tour to Russia, Wah lao, I saw people 60+ walking so slow. And there were quite a few. Must work the brain but must also work the body. Need to exercise at least 1 hr a day and get a good cardio work out. Don't be a key board warrior too much. Don't get agitated too much also when old. I have seen many people kana stroke, heart attack because they did not exercis. So please do not only focus on brain, go for exercise as well. Don't say I never warn you.....

Oh btw, don't get so upset easily, it is no good for the not so young. If you are not upset (maybe I read too much into your replies), good for you. Remember, good brain is important, but quite useless if not fit.....

Jog if you can, if not go for brisk walk. If cannot, go for slow walk...

Good night.

[Kelonguni]

Envious of you guys. I am still trying to smell roses one day. Just finished today's work.

I agree that exercise is very important and one shouldn't start too late (too old). Yawns... Bedtime.

[cbsh38584]

You & I are going to live longer. it means that we need to save for a longer retirement or you may end up outliving your savings. You may also need to work beyond age 80 if you did not plan your retirement very early (as early as age 25). CPF is one of the best scheme avail. Risk Free + guarantee + high interest rate.


In the early 90s, I bought many 10 & 15 yrs SINGLE PREMIUM INSURANCE. John handcock(now manulife) 15 yrs Single premium 6.7%. Great Eastern Single premium 6.5% , 5.5% , 4.5% etc. My last 5 yrs Single premium I bought was Asia life (cant remember the actual name) @ 2.7% in the early 2000s. With such a high return from insurance Single premium. The "SMART money" would not want to park their money into their CPF earning 3%- 4%+ at that time (90s). They would rather invest in Singapore ppty which our economy is still in a developing stage or stock mkt giving a return of >10%.

Right now , the 10-yrs single premium insurances are giving are projected return of 2%+ to 3%+. Not guarantee. I bought Endowment plan using CPF-OA from Great eastern in 1996. After 18 yrs, the return is est about 3.8%. Much better than CPF-OA 2.5%. When I want to buy the same endowment policy using my CPF-OA. All insurance companies say that they no longer sell endowment products using CPF OA. Why ? Because the insurance companies cannot guarantee the min 2.5% return which CPF-OA is giving now.


Before the Lehman crisis (2008/2009), there is no limit to the amount of cash you can voluntary you can self contribute into your CPF. I myself have self contribute 100k cash into my CPF within a period of 3 mths in the early 2000s. The only problem I face from the LONGWINDED CPF staff is that she trying to persuade me not to as my money will be locked in my CPF till age 55. I always believe that prosperity is not perpetual. During good time, I better lock some $$$ in case I unconsciously spend my hard earned $$$. So CPF is the best place to LOCK it at high interest rate + risk free & guarantee. I also contribute into my sisters CPF for about 4 yrs before I marry.


Between 2002 to 2006 b4 the Lehman crisis (2008/09) , many retail investors + our town council sinking fund bought mini bond 5% from banks + insurances (indirectly link to mini bond). It was selling like a HOT CAKE. I am totally not interested at all as I am doing very well in my HIGH risk product, Accumulators ( I kill you later). When the Lehman crisis happened in 2008/2009, all those mini bond investors were very badly hit. Most of them get ZERO. A TRUST CRISIS has occurred.

When I watched how Goldman Sachs CEO Lloyd Blankfein being sworn in for testimony at a Capitol Hill hearing on why are the bankers selling a "good investment grade product" which is actually a junk product to their clients. Worst of all, GS sold investment grade crap CDO and then later shorted it. GS could have manipulated the rating agencies to give CDO etc AAA ratings. A TRUST CRISIS totally collapse.Till now, many banks analysts etc are flipping “ROTI PRATA” on stock recommendation. Recommend a buy today. Next week a sell.


When the trust collapse. The "SMART" money began to move to CPF in record amount. The richs & the wise ones etc are parking their money into their risk free, high interest rate + guarantee CPF. CPF board immediately put a stop & come out with a Annual CPF limit of $31,450. The maximum amount of mandatory and voluntary contributions that a person (employee or self-employed person) can make in a calendar year is subject to the CPF Annual Limit. 2017 CPF Annual life is $37,770.


There are many people have distrust in our CPF system. Yet they can TRUST their friends , bankers , analysts , Remiser etc on the stock recommendation which they are very badly burnt. They have trust in Wine , Gold buy back scheme , Land banking , AgriWOOD, Maxim FX trader, Planting TREE , Resort investment etc. All their hard earned money is gone through SCAM. I do not know why despite our high degree of their education level. They cant figure out TRUST. The worst is that they dont TRUST our govt on the CPF scheme.


My relative who is a ppty agent has total no trust in CPF min sum. He was doing well during the ppty bull run. But very badly burnt in stock mkt. Easily lost >200k or even more. 2 yrs ago, he invested a US penny stock recommended by a TRUSTED friend. Less than 1 yr, from US$50k, Cut loss left $200. He bought Semb Marine at $3+. Now it is $1.6+. He said the govt is always shifting “GOAL post”. I said a responsible govt has to make changes if needed & will ensure the CPF system is sustainable in long run. The only changes is the payout age from age 60 to 62 to now 65. It may extend to age 67 as we are living beyond age 85. The withdrawal age is still age 55. As long you plan your retirement early , you should able to withdraw a SMALL or BIG LUMP SUM after setting aside the min retirement sum (now is $166k).


Our CPF money is primarily for retirement funding. Not for other purpose like paying for your mortgage loan unless if u have no other choice. When your finance health is much better. You should switch back from CPF to cash. Do not use your CPF-OA for speculative investment.


My suggestion is to meet the full retirement sum (FRS) as young or early as possible by transferring your CPF OA (2.5%) to CPF SA (4%) to min $166k (FRS). Tgt by age 35 or even much earlier. If the person has already met or exceeded the FRS ($166k minimum ), the annual interest earned in your CPF SA (4%) would take care of the increase in FRS ( range 2.5% to 3.5%). You know that 20 yrs later at age 55, your CPF SA of 166k will grow to 380k. FYI, It did not include Your own + employer contribution if you are still working for the next 20 yrs. If included, easy your CPF SA > $500k.

So If you plan it well & as early as possible (age 25) , you are going to retire a millionaire in your CPF acct by the time you reached 62. Time is your
friend (for compounding interest). Make sure you are useful to your company. Try not to complain too much. Work with your colleague. Not against them. Be positive.
Not negative. Never disagree publicly infront of your boss. Never ever badmouth or gossip about your boss.




What is CPF LIFE?
The CPF Lifelong Income For The Elderly (CPF LIFE) Scheme provides Singapore Citizens and PR with a monthly payout for as long as they live. The Singapore CPF Life scheme is a kind of annuity funded by your CPF. It is a very good annuity plan with a delay in the payout age if U want. I don’t think NTUC has this kind or delay annuity payout scheme .

Let say I have $166k at age 55. At age 65, it will grow to est $250k. If I chose not to touch it & delay till age 75.It will grow from $250k to $380k. I don’t think I will touch it if I have excess cash on hand even at age 75. At age 90, it will grow (age 75 to age 90) from 380k to $715k.

My Boss’s wife at age 65 chose to leave her RA untouch as she doesn’t need it. She will continue to earn higher interest rate. I put $7k (“test water”) into my father at OLD age of 84 into his RA acct. His latest CPF statement shown he earned $350 in his RA acct. I will continue to leave it untouch.

So CPF life can become a legacy.( an amount of money or property left to someone in a will). So the Richs or the knowledgable or capable person etc would probably leave the CPF RA $ untouch ttill their death for their children. They are not interested in how the payout is calculated using complex maths formula. It is the same as leaving a ppty for their children which is of course CPF life is a better return than 99 lease hold ppty investment.

Man fined for insulting public officer
======================
Chan was previously placed under the MSF-run ComCare scheme, which provides financial aid to needy Singaporeans for fixed terms. The offence arose when he applied for an extension in March last year but did not disclose as required that he had withdrawn $147,538 from his Central Provident Fund (CPF) account on turning 55 in October 2015.

This failure to disclose made him ineligible for an extension and set off a chain of events that led to the July 27, 2016, meeting with Ms Aw, at which he was expected to show documentary proof of how he exhausted all his CPF funds within five months.But at the meeting Chan was uncooperative, kept challenging the two officers and insulted Ms Aw. A CCTV record of the meeting was tendered in evidence.

[Hakuho]

ilikeu,

Don't bullshit lah!

Singaporean's projected Life Expectancy at Birth in 2016 by SingStat can be found here:
http://www.singstat.gov.sg/statistic...tancy-at-birth

They are only projecting Singaporean men to have average life span of 80.6 years old (not 85 years old) and women to be 85 years old.
What this "projected" figure means is that it is skewed heavily to existing younger people (many young foreigners PRs and converted citizens)! So, really, the lifespan of the 1962 cohort who hit 55 years old next year is not that great (definitely less 80.6 years old, and CANNOT be 85 years old)!

However, the only thing I agree with you is that "the actuary is one of smartest person in finance", BUT in a different way, not because they can be trusted but they are so smart that they will ensure that their company managing the life annuity scheme will sure make HUGE PROFITS!

That's the life expectancy for TODAY la, aiyoh.

Like that for the 1962 cohort, the life expectancy should 60-years + according to the chart. LOL

You mean the life expectancy 30 years later in 2047 is the same as today?

Don't have to take my words for it, you can calculate it from the pricing of CPF Life annuity for the 1962 cohort.

It's just a simple calculation la.

Another instance of looking at data but don't know what it meant.

[cbsh38584]

You & I are going to live longer. it means that we need to save for a longer retirement or you may end up outliving your savings. You may also need to work beyond age 80 if you did not plan your retirement very early (as early as age 25). CPF is one of the best scheme avail. Risk Free + guarantee + high interest rate.


In the early 90s, I bought many 10 & 15 yrs SINGLE PREMIUM INSURANCE. John handcock(now manulife) 15 yrs Single premium 6.7%. Great Eastern Single premium 6.5% , 5.5% , 4.5% etc. My last 5 yrs Single premium I bought was Asia life (cant remember the actual name) @ 2.7% in the early 2000s. With such a high return from insurance Single premium. The "SMART money" would not want to park their money into their CPF earning 3%- 4%+ at that time (90s). They would rather invest in Singapore ppty which our economy is still in a developing stage or stock mkt giving a return of >10%.

Right now , the 10-yrs single premium insurances are giving are projected return of 2%+ to 3%+. Not guarantee. I bought Endowment plan using CPF-OA from Great eastern in 1996. After 18 yrs, the return is est about 3.8%. Much better than CPF-OA 2.5%. When I want to buy the same endowment policy using my CPF-OA. All insurance companies say that they no longer sell endowment products using CPF OA. Why ? Because the insurance companies cannot guarantee the min 2.5% return which CPF-OA is giving now.


Before the Lehman crisis (2008/2009), there is no limit to the amount of cash you can voluntary you can self contribute into your CPF. I myself have self contribute 100k cash into my CPF within a period of 3 mths in the early 2000s. The only problem I face from the LONGWINDED CPF staff is that she trying to persuade me not to as my money will be locked in my CPF till age 55. I always believe that prosperity is not perpetual. During good time, I better lock some $$$ in case I unconsciously spend my hard earned $$$. So CPF is the best place to LOCK it at high interest rate + risk free & guarantee. I also contribute into my sisters CPF for about 4 yrs before I marry.


Between 2002 to 2006 b4 the Lehman crisis (2008/09) , many retail investors + our town council sinking fund bought mini bond 5% from banks + insurances (indirectly link to mini bond). It was selling like a HOT CAKE. I am totally not interested at all as I am doing very well in my HIGH risk product, Accumulators ( I kill you later). When the Lehman crisis happened in 2008/2009, all those mini bond investors were very badly hit. Most of them get ZERO. A TRUST CRISIS has occurred.

When I watched how Goldman Sachs CEO Lloyd Blankfein being sworn in for testimony at a Capitol Hill hearing on why are the bankers selling a "good investment grade product" which is actually a junk product to their clients. Worst of all, GS sold investment grade crap CDO and then later shorted it. GS could have manipulated the rating agencies to give CDO etc AAA ratings. A TRUST CRISIS totally collapse.Till now, many banks analysts etc are flipping “ROTI PRATA” on stock recommendation. Recommend a buy today. Next week a sell.


When the trust collapse. The "SMART" money began to move to CPF in record amount. The richs & the wise ones etc are parking their money into their risk free, high interest rate + guarantee CPF. CPF board immediately put a stop & come out with a Annual CPF limit of $31,450. The maximum amount of mandatory and voluntary contributions that a person (employee or self-employed person) can make in a calendar year is subject to the CPF Annual Limit. 2017 CPF Annual life is $37,770.


There are many people have distrust in our CPF system. Yet they can TRUST their friends , bankers , analysts , Remiser etc on the stock recommendation which they are very badly burnt. They have trust in Wine , Gold buy back scheme , Land banking , AgriWOOD, Maxim FX trader, Planting TREE , Resort investment etc. All their hard earned money is gone through SCAM. I do not know why despite our high degree of their education level. They cant figure out TRUST. The worst is that they dont TRUST our govt on the CPF scheme.


My relative who is a ppty agent has total no trust in CPF min sum. He was doing well during the ppty bull run. But very badly burnt in stock mkt. Easily lost >200k or even more. 2 yrs ago, he invested a US penny stock recommended by a TRUSTED friend. Less than 1 yr, from US$50k, Cut loss left $200. He bought Semb Marine at $3+. Now it is $1.6+. He said the govt is always shifting “GOAL post”. I said a responsible govt has to make changes if needed & will ensure the CPF system is sustainable in long run. The only changes is the payout age from age 60 to 62 to now 65. It may extend to age 67 as we are living beyond age 85. The withdrawal age is still age 55. As long you plan your retirement early , you should able to withdraw a SMALL or BIG LUMP SUM after setting aside the min retirement sum (now is $166k).


Our CPF money is primarily for retirement funding. Not for other purpose like paying for your mortgage loan unless if u have no other choice. When your finance health is much better. You should switch back from CPF to cash. Do not use your CPF-OA for speculative investment.


My suggestion is to meet the full retirement sum (FRS) as young or early as possible by transferring your CPF OA (2.5%) to CPF SA (4%) to min $166k (FRS). Tgt by age 35 or even much earlier. If the person has already met or exceeded the FRS ($166k minimum ), the annual interest earned in your CPF SA (4%) would take care of the increase in FRS ( range 2.5% to 3.5%). You know that 20 yrs later at age 55, your CPF SA of 166k will grow to 380k. FYI, It did not include Your own + employer contribution if you are still working for the next 20 yrs. If included, easy your CPF SA > $500k.

So If you plan it well & as early as possible (age 25) , you are going to retire a millionaire in your CPF acct by the time you reached 62. Time is your
friend (for compounding interest). Make sure you are useful to your company. Try not to complain too much. Work with your colleague. Not against them. Be positive.
Not negative. Never disagree publicly infront of your boss. Never ever badmouth or gossip about your boss.




What is CPF LIFE?
The CPF Lifelong Income For The Elderly (CPF LIFE) Scheme provides Singapore Citizens and PR with a monthly payout for as long as they live. The Singapore CPF Life scheme is a kind of annuity funded by your CPF. It is a very good annuity plan with a delay in the payout age if U want. I don’t think NTUC has this kind or delay annuity payout scheme .

Let say I have $166k at age 55. At age 65, it will grow to est $250k. If I chose not to touch it & delay till age 75.It will grow from $250k to $380k. I don’t think I will touch it if I have excess cash on hand even at age 75. At age 90, it will grow (age 75 to age 90) from 380k to $715k.

My Boss’s wife at age 65 chose to leave her RA untouch as she doesn’t need it. She will continue to earn higher interest rate. I put $7k (“test water”) into my father at OLD age of 84 into his RA acct. His latest CPF statement shown he earned $350 in his RA acct. I will continue to leave it untouch.

So CPF life can become a legacy.( an amount of money or property left to someone in a will). So the Richs or the knowledgable or capable person etc would probably leave the CPF RA $ untouch ttill their death for their children. They are not interested in how the payout is calculated using complex maths formula. It is the same as leaving a ppty for their children which is of course CPF life is a better return than 99 lease hold ppty investment.

https://www.ifa.sg/cpf-top-79-years-old/

[Kelonguni]

https://www.ifa.sg/cpf-top-79-years-old/

Inspiring. Anyway, 250K at 79 years old really have very few options.

[teddybear]

Sounds good on paper, only that may be he would die 2 years later and the return is -50% (not 4.88%)!
Remember: Actuary is the smartest person in finance (this I agree with Hakuho) - who can ensure that the insurance company they work for will 100% guaranteed make PROFITS! (If no profit they will be SACKED!)

Inspiring. Anyway, 250K at 79 years old really have very few options.

[teddybear]

As you said: "That's the life expectancy for TODAY"! For those born in today!

Remember: Actuary is the smartest person in finance (this I agree with Hakuho) - who can ensure that the insurance company they work for will 100% guaranteed make PROFITS! (If no profit they will be SACKED!)

That's the life expectancy for TODAY la, aiyoh.

Like that for the 1962 cohort, the life expectancy should 60-years + according to the chart. LOL

You mean the life expectancy 30 years later in 2047 is the same as today?

Don't have to take my words for it, you can calculate it from the pricing of CPF Life annuity for the 1962 cohort.

It's just a simple calculation la.

Another instance of looking at data but don't know what it meant.

[chestnut]

http://www.tablebuilder.singstat.gov...ion?refId=3612

If I interpret correctly, those born in 1960 have life expectancy of 60 plus years.

[teddybear]

Now you got it right!
For 1962 birth cohort, most will never live pass 70 years old (for men) and 74 years old (for women), let alone 85 years old!
So, isn't the actuary the smartest finance people who can ensure that their insurance company employer sure make HUGE PROFITS?!

http://www.tablebuilder.singstat.gov...ion?refId=3612

If I interpret correctly, those born in 1960 have life expectancy of 60 plus years.

[chestnut]

Now you got it right!
For 1962 birth cohort, most will never live pass 70 years old (for men) and 74 years old (for women), let alone 85 years old!
So, isn't the actuary the smartest finance people who can ensure that their insurance company employer sure make HUGE PROFITS?!

Now that I am rite those back year 60 and below quite siong. No longer young. This people better enjoy life. Hahahaha

[teddybear]

Yah, enjoying!
On a side note, only a very small number of 1962 cohort will live long enough to get a return of 4% p.a. interest or more on their CPF Life after 65 years old (may be <10%?) while the rest majority will get little interest and quite many will get TAXED for dying too early (based on the actuary age of 85 years old)!
So take those who die young to subsidize those who live long long don't want to die, so there are still like 80% profits out of the 4% p.a. interest to make?

Imagine 1M CPF Life members, each must contribute $166,000 to CPF Life at age 55 and would have S$258,000 at age 65 years old,
so 3.2% p.a. of that amount = S$8.256 BILLIONS p.a.!

So, do all these money go into accumulated unpaid surplus of CPF Life or what percentage as management fees and profits for CPF?

Now that I am rite those back year 60 and below quite siong. No longer young. This people better enjoy life. Hahahaha

[chestnut]

They choose basic instead of standard lor .

Yah, enjoying!
On a side note, only a very small number of 1962 cohort will live long enough to get a return of 4% p.a. interest or more on their CPF Life after 65 years old (may be <10%?) while the rest majority will get little interest and quite many will get TAXED for dying too early (based on the actuary age of 85 years old)!
So take those who die young to subsidize those who live long long don't want to die, so there are still like 80% profits out of the 4% p.a. interest to make?

Imagine 1M CPF Life members, each must contribute $166,000 to CPF Life at age 55 and would have S$258,000 at age 65 years old,
so 3.2% p.a. of that amount = S$8.256 BILLIONS p.a.!

So, do all these money go into accumulated unpaid surplus of CPF Life or what percentage as management fees and profits for CPF?

[Hakuho]

Now you got it right!
For 1962 birth cohort, most will never live pass 70 years old (for men) and 74 years old (for women), let alone 85 years old!
So, isn't the actuary the smartest finance people who can ensure that their insurance company employer sure make HUGE PROFITS?!

What?

I URGE you to say that again. LOLOL

[teddybear]

Why?
Now you are flipping and don't agree with me anymore that actuary are the smartest finance people?

The job of an actuary is to ensure that their insurance company employer sure make HUGE PROFITS! What is wrong with this statement???????????????????

What?

I URGE you to say that again. LOLOL

[Kelonguni]

No need to think so much.

If short lived why need so much returns? Really not your basah what your children or spouse get. They should settle their own planning.

The CPF life is more of a defence against those who do not have any investments and yet live extraordinary long, in a manner that is responsible and does not affect the taxpayers of tomorrow.

[Hakuho]

The Department of Statistics of Singapore is not playing God. It cannot (and unable to) determine the life expectancy of new babies.

The Life Expectancy of a cohort, say 1962, compiled is the mortality profile of ALL age cohorts in that year. The mortality rate is a reflection of the conditions of healthcare, safety & security, education etc prevailing. As these conditions improved over the previous years, the mortality rate declined.

The 1962 cohort has obviously enjoyed the improvement of these conditions, and therefore its life expectancy is NO LONGER according to the mortality profile of 1962.

New babies are but a clean reference point in the statistics that says, should these conditions remained THE SAME IN FUTURE, the babies are EXPECTED to live as long as the mortality profile captured for that year.


I am surprised by the level of ignorance of the some seniors of this forum. LOLOL

[chestnut]

Very enlightening..... as in
https://en.m.wikipedia.org/wiki/Life_expectancy

So teddy is wrong?????

The Department of Statistics of Singapore is not playing God. It cannot (and unable to) determine the life expectancy of new babies.

The Life Expectancy of a cohort, say 1962, compiled is the mortality profile of ALL age cohorts in that year. The mortality rate is a reflection of the conditions of healthcare, safety & security, education etc prevailing. As these conditions improved over the previous years, the mortality rate declined.

The 1962 cohort has obviously enjoyed the improvement of these conditions, and therefore its life expectancy is NO LONGER according to the mortality profile of 1962.

New babies are but a clean reference point in the statistics that says, should these conditions remained THE SAME IN FUTURE, the babies are EXPECTED to live as long as the mortality profile captured for that year.


I am surprised by the level of ignorance of the some seniors of this forum. LOLOL

[laohero]

The Department of Statistics of Singapore is not playing God. It cannot (and unable to) determine the life expectancy of new babies.

The Life Expectancy of a cohort, say 1962, compiled is the mortality profile of ALL age cohorts in that year. The mortality rate is a reflection of the conditions of healthcare, safety & security, education etc prevailing. As these conditions improved over the previous years, the mortality rate declined.

The 1962 cohort has obviously enjoyed the improvement of these conditions, and therefore its life expectancy is NO LONGER according to the mortality profile of 1962.

New babies are but a clean reference point in the statistics that says, should these conditions remained THE SAME IN FUTURE, the babies are EXPECTED to live as long as the mortality profile captured for that year.


I am surprised by the level of ignorance of the some seniors of this forum. LOLOL

Thanks for spending time and effort to highlight the ignorance and shoot down the bullshitter in this forum who is spreading his propaganda. His 10000+ posts in this forum are full of craps and repeating the same allegations and yet he is just ball-less to ask the authorities.

[teddybear]

I am also surprised by the state of ignorance (or they are out to spread half-truth?) of some people like Hakuho who tell us that:
"For the 1972 cohort, the actuary acting for CPF Life determines that the life expectancy as 85. He should live AT LEAST until the age 85.
(please don't argue why 85 and not 90 etc, the actuary is one of smartest person in finance so we should trust his data)...."

Come on, only stupid people will believe in the actuary and his data because ask yourself, what is the job of the actuary?
The job of an actuary is really, to make statistical calculations and determine the insurance premiums (with lots of buffer) to ensure that the insurance company employer they work for will make HUGE PROFITS on their insurance scheme (regardless of life annuity scheme, life insurance scheme, endowment scheme etc)!
What if their calculations result in their employer's insurance scheme losing money? This is a no-brainer - they will be SACKED!

Obviously the Department of Statistics cannot predict accurately how many people will die by certain age when they have not died yet! For 1962 cohort, the statistics will continue to be updated but as of now, their average life span, taking into consideration medical advances, people more aware of their diet and leading healthier life style, is only 60+ years old and hence this is not great, not to mention that their statistics have already been exaggerated by trying to take into consideration longer life-span of the younger generation. Since this is the case, why the actuary determines their life expectancy to be 85? Knowing what is the job an actuary, the answer is also no-brainer! Only the stupid and those with hidden agenda will argue otherwise!

The Department of Statistics of Singapore is not playing God. It cannot (and unable to) determine the life expectancy of new babies.

The Life Expectancy of a cohort, say 1962, compiled is the mortality profile of ALL age cohorts in that year. The mortality rate is a reflection of the conditions of healthcare, safety & security, education etc prevailing. As these conditions improved over the previous years, the mortality rate declined.

The 1962 cohort has obviously enjoyed the improvement of these conditions, and therefore its life expectancy is NO LONGER according to the mortality profile of 1962.

New babies are but a clean reference point in the statistics that says, should these conditions remained THE SAME IN FUTURE, the babies are EXPECTED to live as long as the mortality profile captured for that year.

I am surprised by the level of ignorance of the some seniors of this forum. LOLOL

So, to continue using the same dataset originated from LSH’s article.

For the 1972 cohort, the actuary acting for CPF Life determines that the life expectancy as 85. He should live AT LEAST until the age 85.

(please don't argue why 85 and not 90 etc, the actuary is one of smartest person in finance so we should trust his data)

The individual account balance started with $244 k, the drawdown will be $1017 pm over 20 years. Drawdown means from an account NOT earning interest.

BUT.

CPF Life is paying him $1355 pm over the same 20 years, and will continue to pay for life.

Should the individual dies before the age of 85, a bequest shall be paid to his beneficiary.

In other words, CPF Life guarantees a minimum payout of $325 k ($1355 x 12 x 20) FOR THIS COHORT.

[teddybear]

You talk so much half-truth as though you are an expert in CPF Life but you still cannot answer my following questions?:

1) What interest rate CPF is paying for unpaid retirement accounts' balance money after you are over 65 years old?
CPF Board's webpage states that CPF pays about 4% p.a. interest for your retirement money.
However, you claimed that CPF pays 0% interest after you are over 65 years old (and in doing so claimed that CPF is lying with those statements!). Is this really so?!

2) What is the accumulated unpaid surplus CPF Life has accumulated now?

3) How much is CPF Board charging as management fees for managing CPF Life?

4) Where is CPF Life's annual financial statements and report?

5) Why CPF Life's payout and Bequest is a range and not a fixed figure? Why they cannot give the fixed figure for that year's cohort since they are paying a fixed figure and not a range? Otherwise how they determine to pay at the high end or the low end of the range? (I would definitely take the lowest figure if given a range in such case just to be conservative).

6) How CPF derives the Bequest and monthly payout amount to pay? (obviously they made many assumptions such as average age that the men and women died etc and what are these?)

Until CPF is transparent about the CPF Life's financial accounts etc, all those talks and claims by Hakuho, chestnut, Amber etc are just EMPTY talk, speculations, blind claims, just like those hearsay and rumours from coffeeshop talk!

This thread has gone into hundreds of pages now, and YET NOBODY can answer my above Questions??????????,
including all those who try to rubbish my statements and my questions, and trying to give bullshit explanations, claims, half-truths all "explained" like never explain because these people either don't use their brains (or they have hidden agenda?), the most critical questions still nobody question and answer, and up to now CPF is not telling......................

It is surprising that even "factually" website is not explaining.
You know, "factually" website seems to be very diligent to act fast on coffeeshop rumours/talks (not based on questions to authorities - because those would have been answered by the authorities). Otherwise I suppose "agents" like Hakuho, minority and laohero would have also informed them about? No????????

Looking forward to their answers (because these would help to dispel all those rumours from coffeeshop talks)!

That's the life expectancy for TODAY la, aiyoh.

Like that for the 1962 cohort, the life expectancy should 60-years + according to the chart. LOL

You mean the life expectancy 30 years later in 2047 is the same as today?

Don't have to take my words for it, you can calculate it from the pricing of CPF Life annuity for the 1962 cohort.

It's just a simple calculation la.

Another instance of looking at data but don't know what it meant.

Thanks for spending time and effort to highlight the ignorance and shoot down the bullshitter in this forum who is spreading his propaganda. His 10000+ posts in this forum are full of craps and repeating the same allegations and yet he is just ball-less to ask the authorities.

[chestnut]

Some people so sad, search but cannot find.....

Some smell roses until immune, then become bored ladies,

Aiyah, some so frustrated at not finding answers from government and always complain, so sad.


This ladies need to do meditations and yoga.... hahahaha

Come to think of it, lucky I still can smell roses and enjoying life. Heng ah.... hahahaha... better not bother with this pips, hahahaha, just continue to smell my roses. Best don't respond to such people or kana their disease. Hahahaha

You talk so much half-truth as though you are an expert in CPF Life but you still cannot answer my following questions?:

1) What interest rate CPF is paying for unpaid retirement accounts' balance money after you are over 65 years old?
CPF Board's webpage states that CPF pays about 4% p.a. interest for your retirement money.
However, you claimed that CPF pays 0% interest after you are over 65 years old (and in doing so claimed that CPF is lying with those statements!). Is this really so?!

2) What is the accumulated unpaid surplus CPF Life has accumulated now?

3) How much is CPF Board charging as management fees for managing CPF Life?

4) Where is CPF Life's annual financial statements and report?

5) Why CPF Life's payout and Bequest is a range and not a fixed figure? Why they cannot give the fixed figure for that year's cohort since they are paying a fixed figure and not a range? Otherwise how they determine to pay at the high end or the low end of the range? (I would definitely take the lowest figure if given a range in such case just to be conservative).

6) How CPF derives the Bequest and monthly payout amount to pay? (obviously they made many assumptions such as average age that the men and women died etc and what are these?)

Until CPF is transparent about the CPF Life's financial accounts etc, all those talks and claims by Hakuho, chestnut, Amber etc are just EMPTY talk, speculations, blind claims, just like those hearsay and rumours from coffeeshop talk!

This thread has gone into hundreds of pages now, and YET NOBODY can answer my above Questions??????????,
including all those who try to rubbish my statements and my questions, and trying to give bullshit explanations, claims, half-truths all "explained" like never explain because these people either don't use their brains (or they have hidden agenda?), the most critical questions still nobody question and answer, and up to now CPF is not telling......................

It is surprising that even "factually" website is not explaining.
You know, "factually" website seems to be very diligent to act fast on coffeeshop rumours/talks (not based on questions to authorities - because those would have been answered by the authorities). Otherwise I suppose "agents" like Hakuho, minority and laohero would have also informed them about? No????????

Looking forward to their answers (because these would help to dispel all those rumours from coffeeshop talks)!

[teddybear]

Some people think smell roses mean stick their head in the sand and don't think and life will be good........
These are the kind of people who just managed to be able to smell roses..............
They still not experience or know people around who smell roses like them as they do and then very quickly become senile..............

Stupidity as do stupid do.........................

Some people so sad, search but cannot find.....

Some smell roses until immune, then become bored ladies,

Aiyah, some so frustrated at not finding answers from government and always complain, so sad.


This ladies need to do meditations and yoga.... hahahaha

Come to think of it, lucky I still can smell roses and enjoying life. Heng ah.... hahahaha... better not bother with this pips, hahahaha, just continue to smell my roses. Best don't respond to such people or kana their disease. Hahahaha

[chestnut]

Hahahahahahaha my condolence to your 'friends' . Hahahahaha... may you find happiness and peace and non senile in your life. Hahahahaha... try to smile more... if not got a lot of wrinkles.... very ugly one... very funny, u search for answers cannot find and call yourself smarter???? I am confused. Hahahahaha....

Some people think smell roses mean stick their head in the sand and don't think and life will be good........
These are the kind of people who just managed to be able to smell roses..............
They still not experience or know people around who smell roses like them as they do and then very quickly become senile..............

Stupidity as do stupid do.........................

[cbsh38584]

Life without principle - people’s greed and obsession with money .

Some bankers who were in distress as their performance score being at the bottom of the sales team. She/he may lose her job if she/he doesn’t talk their customers into buying a high-risk, high-return investment package to housewife , retiree , low risk investors etc. High-risk , high return investment included equity-linked notes (ELN / FCN etc) , foreign-currency options and accumulative forwards, knock-out daily accumulators, high-yield bonds (Junk bond) and equity options.

They would show the chart the past performance 10% return of that investment product. But they did not highlight the real risk if the mkt turn bad & will drop >30% if it happen. In order to get the investors to buy. She/he would get them to change their investment risk profile from low to higher risk in order to execute the trade.




Banks obsession with Profit & pass on HIGH risk or JUNKs products to GREEDY ignorant investors.
=============================================================
DBS was selling Leveraged Swiber Bonds to Clients .

“I was simply following the advice of my relationship manager, who never told me much about the company. I just thought, a bank in Singapore, with this much regulation, would not recommend risky investments”. I just signed whatever papers the relationship manager gave me.”

A 34 year young lady Laura also have a problem now. What made her a unique case study is that she is also a banker:
“My banker said DBS could lend me money to invest, so I’m 50 per cent leveraged on Swiber bonds. Now they’ve defaulted, I’m asked to pay the bank $250,000.


Retiree Jeremy Tan, 77, who has sunk in $2.25 million, said, “Many issuers such as AusGroup and Marco Polo Marine are restructuring but Rickmers has proposed the worst deal.”


HAVE TRUST IN OUR CPF system.