Darthrevan Supercharged January 13, 2011 Share January 13, 2011 So, let me get this straight. It's only the age at which I can take out the minimum sum affected, right? What's the minimum sum, by the way? It's $112k as of this year 2011, which might or might not change. Most pple have no problem with this amount anyway, as it can be pledge with their property. ↡ Advertisement Link to post Share on other sites More sharing options...
Joseph22 Turbocharged January 13, 2011 Share January 13, 2011 It's $112k as of this year 2011, which might or might not change. Most pple have no problem with this amount anyway, as it can be pledge with their property. dont need to pledge with property also should have enough. Link to post Share on other sites More sharing options...
Mllcg 3rd Gear January 13, 2011 Share January 13, 2011 why control OUR OWN money so much sia.. haiz... Link to post Share on other sites More sharing options...
Dumb 4th Gear January 13, 2011 Share January 13, 2011 It's $112k as of this year 2011, which might or might not change. Most pple have no problem with this amount anyway, as it can be pledge with their property. Where you get $112k. Someone already mentioned $123k for those turning 55 before 1 Jul 2011. From 1 Jul 2011 the min sum will be adjusted and may become $135k. Link to post Share on other sites More sharing options...
Darthrevan Supercharged January 13, 2011 Share January 13, 2011 Where you get $112k. Someone already mentioned $123k for those turning 55 before 1 Jul 2011. From 1 Jul 2011 the min sum will be adjusted and may become $135k. Yup, I saw the table wrongly. thanks for correcting, its $123k. Link to post Share on other sites More sharing options...
Dumb 4th Gear January 13, 2011 Share January 13, 2011 the way they keep changing the CPF rules to make it harder to take out the money or keep it longer, and longer whilst you get older and older, perhaps die first... I really suspect there is already little or no money left in the CPF... If they got little or no money, why they keep writing reminders (already 5 reminders) to me to withdraw CPF money as beneficiary even after I have informed them to leave the money in the account unless I need it. They also dont allow the bequest money to be transferred to my CPF. If I want it to be in my account, I must withdraw all and make voluntary contribution to my own account, subject to annual limit. Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 13, 2011 Share January 13, 2011 I think I half dead also cannot take out own money. Well not to say I have much money by time I can draw my money, its half eaten away by inflation already! I believe you are among the age-group that missed the withdraw at age 55. Can it be anticipated cash-flow issue due to demographic or the current trend to reduce income for employees? Being a layman, lower income means lesser CPF contributions, so the contribution cashflow may not match the withdrawal demand. Link to post Share on other sites More sharing options...
Babyckh 5th Gear January 13, 2011 Share January 13, 2011 now CPF said you can opt to transfer your CPF amount to your children's CPF if you pass on. I won't be surprise if they will to make it compulsory in future. then nobody will be able to take out the entire sum, not even your children or grandchildren.... Link to post Share on other sites More sharing options...
Zanter 3rd Gear January 14, 2011 Author Share January 14, 2011 CPF overly regulated. I cant understand why can't they just TRUST us to invest our own money for our own retirement. They take our money, use it to buy stock etc generate 6-10% & pay us interest at 2.5%. Like that 100% winner! Money in our CPF is DEPRECIATING due to inflation! Link to post Share on other sites More sharing options...
Vroomtattat 2nd Gear January 14, 2011 Share January 14, 2011 Where you get $112k. Someone already mentioned $123k for those turning 55 before 1 Jul 2011. From 1 Jul 2011 the min sum will be adjusted and may become $135k. All I know is it'll go higher and higher. Link to post Share on other sites More sharing options...
Yipsy1 Neutral Newbie January 14, 2011 Share January 14, 2011 CPF overly regulated. I cant understand why can't they just TRUST us to invest our own money for our own retirement. They take our money, use it to buy stock etc generate 6-10% & pay us interest at 2.5%. Like that 100% winner! Money in our CPF is DEPRECIATING due to inflation! You can use your CPF monies to invest in Unit Trusts, Gold, Govt bonds..etc. What are you talking about? http://ask-us.cpf.gov.sg/Home/Hybrid/theme...V_Annex%20A.pdf Link to post Share on other sites More sharing options...
Luckcent 4th Gear January 14, 2011 Share January 14, 2011 For those who complain ( sinkies ) about the CPF....should not be unhappy because if you are one on the 66.6 % who gave the MIW the power to act on your behalf. Link to post Share on other sites More sharing options...
Dumb 4th Gear January 14, 2011 Share January 14, 2011 I believe you are among the age-group that missed the withdraw at age 55. Are you sure? You can still withdraw all the amount in excess of the min sum at age 55. If no min sum, you are still allowed to draw part of it at age 55. Link to post Share on other sites More sharing options...
Zanter 3rd Gear January 14, 2011 Author Share January 14, 2011 Ordinary account yes. Special Account- a lot of restrictions principally restricted to Unit with poor returns. I dont like to buy Units. Pay the managers 2% every year even if they lose $? I rather invest my own money. Why must the Govt lump everyone together? Just cos some worry some old folk take CPF money to go Casino doesnt mean everyone will do that. Believe it or not, some people CAN manage their own financies. Anyway I think better write off my CPF $, in 20 years time the $300 they give me every month will buy 1 packet nasi lemak with1 egg If I am lucky! Link to post Share on other sites More sharing options...
Gearoil 1st Gear January 14, 2011 Share January 14, 2011 err.. but Heard that Undertaker is not RadX real job leh well, if the person dont know how to take care of his own wealth. then they does to have their own money kenna lock up. (refering to those ah pek who kenna con by young women.) I be frank with you. It is not that Sinkie do not know how to create wealth or manage them with a advantage. MANY NEW GEN SINKES NOWADAYS DO NOT HAVE THAT MUCH WEALTH TO BEGIN WITH TO GENERATE MORE MONEY. Most well to do Sinkie have a 'head start' not just in paper qualification, to be in the rich list. Don't be fool by ST or other reports that many Sinkie can do well just by being a Harvard , MIT grad or rag to riches story. Well as they say, if you not born with platinium , golden or even silver spoon in Sinkland.... Too Bad. =============================================================== Ppl like Radx have many 'arms and legs' that stretch in many niches to make his money. He could be managing corpses , selling this and that and even pretending to be your 'frdly neighbourhood HDB peasant' that happen to stay next door to someone. Who cares!...as long as he makes his money...and I MAKE MINE! Link to post Share on other sites More sharing options...
Joseph22 Turbocharged January 14, 2011 Share January 14, 2011 Well said. If most notice, singapore in harverd are mostly rich boy/girls. Unless u get president schoolar. Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 14, 2011 Share January 14, 2011 I think I half dead also cannot take out own money. Well not to say I have much money by time I can draw my money, its half eaten away by inflation already! Ever enquired: GST at 7% and CPF interest at 2.5%, therefore, 4.5% lost for CPF Members. Can CPF Board pay on par with GST? Reply: CPF Board go bust if pay that much. They need the difference for their overhead, since they only buy government bond with our money. Anyone knows if this is truth? If truth, negative productivity? Link to post Share on other sites More sharing options...
Junjie 1st Gear January 14, 2011 Share January 14, 2011 correct me if I am wrong if they don't maintain such scheme, where do they have the money to invest here and there......actually pretty sad, slogged our to earn our keep and yet need others to teach us how to save and use.....what to do? that's our life.... ↡ Advertisement Link to post Share on other sites More sharing options...
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