CPF a flop policy????

[Slowmo]

the loophole is not just one factor.

 

hdb prices are crazy now, that ain't fixed, it ain't gonna get you nothing with just measly 30k in the CPF-OA.

[Slowmo]

if you think cpf is their main source of income, you are badly mistaken.

[Sosaria]

Well, in the old days, there was the pension scheme, but the disadvantage was that you couldn't job-hop . Imagine if you get a lousy boss, you still have to bear it; insubordination or laxness will still get you fired... and lose your pension.

 

And you have to try to live long enough to retire and enjoy your pension .

Edited November 12, 2007 by Sosaria

[Hiphiphoray]

they always seem to only extract comments from people who follow their plan which is the minority....Only listen to what they wanna listen and believe....

 

Sounds pretty much like religion to me.

[Perrier]

The Government wants to go back to the basics for CPF: housing and retirement first. Which is not a bad idea.

 

Saw what happened in the past? Housing loan creep up from 10 to 15 to 30 years loan. Where got money left? So the Government stepped in with new restrictive rulings to avoid future generations from making the same mistake.

 

Even today, I have friends whose mentality is that since you can never see your CPF money, you should maximize its usage by buying the most expensive home you can afford.

 

The restriction on investment is merely plugging a loophole.

 

We have to go back when the government thinks we have too much $$ in our CPF and encourage us to invest it. The early days seen many investments flopped and down the years, people are more experienced and with better fund management by the various insurance companies, people are actually make between 200-300%. Bad thing is, when every tom, dick and harry takes out the $$ for investment, the pool gets smaller.

 

Even for me, I keep minimum amount in my CPF while the rest are carefully distributed between high and low risk funds. No way will I park my CPF for the 2.6% interest.

 

I really dun see the need to hold back those 20k when it can be wisely used for good investment for higher return. Its about making $$ work harder for us. $$ in a bank will only do the bank rich, not the owner.

 

Isn't it fishy enough already that the withdrawal age is raised, annuity introduced to further locked part of your CPF and now the 20k minimum limit to cover all spectrum of the population???

 

Based on 1.5 mil working class, the amount would be 20k x 1.5 mil = $30bil.

[Scoots]

http://sg.news.yahoo.com/cna/20071111/tap-...49-231650b.html

 

i'm pretty much amazed after reading this news....... i believe when they started CPF thingy there were some promises here n there..... some on pension scheme was even persuaded to convert to CPF with certain promise...

 

seem some how this article is showing that CPF is not working as wat it is deemed to be..... i guess partly due to the ever increasing inflation rate at an insane rate we are moving on...... seems like they have shifted all the responsibilities bac to the ppl again without admitting that the policy was a no good thingy...

 

 

the annuity plan... will it be jus another flop.....

 

wats ur take???

 

I don't believe in a 1-for-all kind of plan. I have always looked at CPF as one form of (forced)financial planning instrument only. So to say that it's a flop would, in my frank opinion, be a bit too harsh.

 

Having said that, I also do not agree weak 'education' of the people by the government on the expectations on CPF upon retirement. Yes, they are doing something about it NOW, but I feel it's more driven by a 'we can't hold out anymore so have to make the people take on more responsibilities themselves' reason than a 'let's help our people plan for themselves' kind of reason.

 

Why I say that? Because I don't feel that our government has gotten out of the 'we(the leaders) know best' frame of mind.

[Landex]

need to stock up kapital after heavy losses on the gamblin table tis yr....

 

[Landex]

http://ch5.mediacorptv.com/thenoose/