C*F withdrawer sum up again !!

[Latio2005A]

  On 8/3/2011 at 3:04 AM, Joseph22 said:

it was never shelves lah.. it was implemented later by LHL. but no one complain cause that time a lot of cheating case of Xiao Long Nu of the old ppl CPF money.

 

Yes, the MSM played up the cheating cases and then suddenly the change was sneaked in.

[Joseph22]

  On 8/3/2011 at 3:13 AM, Latio2005A said:

Yes, the MSM played up the cheating cases and then suddenly the change was sneaked in.

 

 

it was never sneak in. you didnt bother to read the news say didnt bother to read the news lah.

 

Anyway, i blame those who got chance to vote 10 years ago for this.

 

i didnt have a chance to vote then

[Zenithpool]

I think when I reach 60, I will be told that I cannot retire because I do no have min sun of $1m in CPF, and should I die before hitting the min sum, they will cash out by taking my heart my lung my liver my kidney.

 

pui!

[Branteo]

  On 7/15/2011 at 6:15 AM, Kezg1 said:

This is just ridiculous...I believed most of these $$ that are tied up belongs to the Baby boomers...

Hope I will be healthy and strong by the drawn down date too.....

 

"Healthy and strong"?

 

Be thankful if you're still alive then.

[Sabbie]

another ponzi scheme

[Gearoil]

  On 8/3/2011 at 3:48 AM, Branteo said:

"Healthy and strong"?

 

Be thankful if you're still alive then.

 

You wrong leh...

 

Those who are dead ...are the lucky ones...

 

those Sinkie without much moolah...

 

better die when hit 55 or between 55 and 60....

 

or better still...

 

just die lah.. ..at any age!

 

 

[Thargor]

  On 8/3/2011 at 4:06 AM, Gearoil said:

You wrong leh...

 

Those who are dead ...are the lucky ones...

 

those Sinkie without much moolah...

 

better die when hit 55 or between 55 and 60....

 

or better still...

 

just die lah.. ..at any age!

 

Why you curse yourself to die?

[Sabbie]

  On 8/3/2011 at 4:06 AM, Gearoil said:

You wrong leh...

 

Those who are dead ...are the lucky ones...

 

those Sinkie without much moolah...

 

better die when hit 55 or between 55 and 60....

 

or better still...

 

just die lah.. ..at any age!

wow for once I agree with you!

[Csnewbie]

  On 7/15/2011 at 7:34 AM, Toyo said:

CPF - Cash Prior to Funeral

[Ngck]

  On 8/3/2011 at 2:39 AM, Kenneve888 said:

Many are aware but for the benefit of those who don't.

 

There was sometime ago a change to the CPF Min thingy.

 

Previously:

When reach 55, if min sum not enough, you can pledge 50% with your property. Similarly, anything up to 50% of stated min sum can be withdrawn at 55 if property is pledged.

 

eg1: Min sum requirement is $130,000, but you have only $60,000 in RA when reach 55. You can draw out 0 with the shortfall pledged with property.

 

eg2: Min sum requirement is $130,000, but you have only $100,000 in RA when reach 55. You can draw out 35000 with the other half ($65,000) pledged with property.

 

 

Now:

When reach 55, if min sum not enough, you can pledge 50% with your property. But if you have less than the stated min sum, you cannot use property to pledge.

 

eg1: Min sum requirement is $130,000, but you have only $60,000 in RA when reach 55. You can draw out 0 with the shortfall pledged with property. No change.

 

eg2: Min sum requirement is $130,000, but you have only $100,000 in RA when reach 55. You can draw out 0 with the balance pledged with property. (Previously you can draw $35,000.)

 

Eg3: Min sum requirement is $130,000, but you have $140,000 in RA when reach 55. You can draw out 10,000 and no need to pledge with property. (Previously you can draw $75,000)

 

End of the day: Big Zero to draw out from CPF.

 

 

The above is based on my scanning the CPF website - hope I am right.

 

The question, if so, is: Why the change without making any announcement? Table in Parliament before? Stakeholders'opinions/preference sought?

 

KNN!

 

 

LOL.... like that pledge or no pledge.. what the diff? haha

[Patwong]

  On 8/3/2011 at 2:39 AM, Kenneve888 said:

Many are aware but for the benefit of those who don't.

 

There was sometime ago a change to the CPF Min thingy.

 

Previously:

When reach 55, if min sum not enough, you can pledge 50% with your property. Similarly, anything up to 50% of stated min sum can be withdrawn at 55 if property is pledged.

 

eg1: Min sum requirement is $130,000, but you have only $60,000 in RA when reach 55. You can draw out 0 with the shortfall pledged with property.

 

eg2: Min sum requirement is $130,000, but you have only $100,000 in RA when reach 55. You can draw out 35000 with the other half ($65,000) pledged with property.

 

 

Now:

When reach 55, if min sum not enough, you can pledge 50% with your property. But if you have less than the stated min sum, you cannot use property to pledge.

 

eg1: Min sum requirement is $130,000, but you have only $60,000 in RA when reach 55. You can draw out 0 with the shortfall pledged with property. No change.

 

eg2: Min sum requirement is $130,000, but you have only $100,000 in RA when reach 55. You can draw out 0 with the balance pledged with property. (Previously you can draw $35,000.)

 

Eg3: Min sum requirement is $130,000, but you have $140,000 in RA when reach 55. You can draw out 10,000 and no need to pledge with property. (Previously you can draw $75,000)

 

End of the day: Big Zero to draw out from CPF.

 

 

The above is based on my scanning the CPF website - hope I am right.

 

The question, if so, is: Why the change without making any announcement? Table in Parliament before? Stakeholders'opinions/preference sought?

 

KNN!

 

Hi all,

 

I called CPF office just now.. staff said the rules didnt changes.

 

Example : Min sum requirement is $131,000 (now) and you have $100,000 in RA now (reached age 55).

You can draw out $34,500 with the rule that balance 50% of $131,000 ($65,500) pledged using property value.

 

Anyone can comment?

 

[Joseph22]

  On 8/3/2011 at 4:44 AM, Patwong said:

Hi all,

 

I called CPF office just now.. staff said the rules didnt changes.

 

Example : Min sum requirement is $131,000 (now) and you have $100,000 in RA now (reached age 55).

You can draw out $34,500 with the rule that balance 50% of $131,000 ($65,500) pledged using property value.

 

Anyone can comment?

 

Yes, got comment.

 

Thanks you for making the effort.

[Latio2005A]

  On 8/3/2011 at 4:44 AM, Patwong said:

Hi all,

 

I called CPF office just now.. staff said the rules didnt changes.

 

Example : Min sum requirement is $131,000 (now) and you have $100,000 in RA now (reached age 55).

You can draw out $34,500 with the rule that balance 50% of $131,000 ($65,500) pledged using property value.

 

Anyone can comment?

Oh if like that then good news though not 100% to my liking. I prefer take out all.

[Kenneve888]

  On 8/3/2011 at 4:44 AM, Patwong said:

Hi all,

 

I called CPF office just now.. staff said the rules didnt changes.

 

Example : Min sum requirement is $131,000 (now) and you have $100,000 in RA now (reached age 55).

You can draw out $34,500 with the rule that balance 50% of $131,000 ($65,500) pledged using property value.

 

Anyone can comment?

Ok, following your call, i alzo called to hear the correct version.

Yes, can pledged upto 50% still.

My apology . . . False alarm.

[Joseph22]

  On 8/3/2011 at 5:57 AM, Kenneve888 said:

Ok, following your call, i alzo called to hear the correct version.

Yes, can pledged upto 50% still.

My apology . . . False alarm.

 

no problem. we got good ranting session

[Wt_know]

mai kan cheong la

with hdb 500k, 600k and 800k and private condo close to $1M (hdb upgrader)

how much would one has left in his cpf ordinary account while servicing property loan?

Edited August 3, 2011 by Wt_know

[Beehive3783]

So now the only thing I can do now is to max out my CPF on housing. That's great.. I guess I'll start investing in the property market then

[Labixiaoxin]

So even till the day we died we may not have the chance to see our CPF $$$.. Sob sob. They are damn evil.