Solar Turbocharged May 7, 2013 Share May 7, 2013 CCB.. they run out of real cash again? maybe its just me.... but to me, all these high HDB prices and raising of minimum sum is just to suck up excess liquidity (potentially when ppl reach 55) so they dun have to do cash payout if u think of it like a ponzi... you will always need more money... existing member contribute more, and of course, another way is to get more members.. ↡ Advertisement Link to post Share on other sites More sharing options...
Tiger1 6th Gear May 7, 2013 Share May 7, 2013 if u think of it like a ponzi... you will always need more money... existing member contribute more, and of course, another way is to get more members.. Halo halo! Wrong word hor.... It is call CPF. get ths right plss! Link to post Share on other sites More sharing options...
Ingenius Turbocharged May 7, 2013 Share May 7, 2013 (edited) How about we try a petition for allowing full withdrawal of cpf upon 55 ? Target 100,000 signatures . We have 30000 members in mcf. I submit to president. Edited May 7, 2013 by Ingenius Link to post Share on other sites More sharing options...
Porker Turbocharged May 7, 2013 Share May 7, 2013 CCB.. they run out of real cash again? maybe its just me.... but to me, all these high HDB prices and raising of minimum sum is just to suck up excess liquidity (potentially when ppl reach 55) so they dun have to do cash payout Do we know the reason behind it? Link to post Share on other sites More sharing options...
Mllcg 3rd Gear May 7, 2013 Share May 7, 2013 How about we try a petition for allowing full withdrawal of cpf upon 55 ? Target 100,000 signatures . We have 30000 members in mcf. I submit to president. 100k where got enough. singapore got 5 million. need at least 4.9 million to sign Link to post Share on other sites More sharing options...
Goldbug 6th Gear May 7, 2013 Share May 7, 2013 minimum sum is inflation adjusted, deposits not inflation protected Link to post Share on other sites More sharing options...
Maxus-MIFA9 Supersonic May 7, 2013 Share May 7, 2013 actually i dont understand how it affect us? When your time comes, you see the amount that you can withdraw cash is getting lesser and lesser..... The money they kept will release to you bit by bit (maybe by your time will be $900/- per month where the value is almost like $350 now) until you die... You better not stop work or else, no money goes into CPF and your retirement fund would be less... Link to post Share on other sites More sharing options...
Goldbug 6th Gear May 7, 2013 Share May 7, 2013 I rather buy an annuity with a fixed payout over a fix term CPF Life is a fraud when payout is not guaranteed Link to post Share on other sites More sharing options...
Arenz 2nd Gear May 7, 2013 Share May 7, 2013 Unfortunately, no more MSS (Min Sum Scheme) wef this year .....only left with CPF Life....... Link to post Share on other sites More sharing options...
CH_CO 6th Gear May 8, 2013 Share May 8, 2013 (edited) Vote wisely !! I have always maintain that transparency is the best policy when it comes to how out garment handles our money in the cpf. And these notion is probably showing that they may have mismanaged our money and our reserves are drying due to it. Though it is not confirm but as long as they are not willing to open their books to us , this is always a probablity. Where else do you see a garmen claiming that they are helping us to decide on what is best when they are clearly not intending to hand out cash to the needy? While the ministers pay themselves millions pegged to inflation while the general public have not experienced as much growth in real income? Edited May 8, 2013 by CH_CO Link to post Share on other sites More sharing options...
Goldbug 6th Gear May 8, 2013 Share May 8, 2013 they intend to raise retirement age from 65 to 67, CPF Life is pegged to retirement age, effectively "saving another 24 months of payout"... Link to post Share on other sites More sharing options...
Solar Turbocharged May 8, 2013 Share May 8, 2013 How about we try a petition for allowing full withdrawal of cpf upon 55 ? Target 100,000 signatures . We have 30000 members in mcf. I submit to president. what can he do other than telling you to be confident of his future? Link to post Share on other sites More sharing options...
Solar Turbocharged May 8, 2013 Share May 8, 2013 Vote wisely !! I have always maintain that transparency is the best policy when it comes to how out garment handles our money in the cpf. And these notion is probably showing that they may have mismanaged our money and our reserves are drying due to it. Though it is not confirm but as long as they are not willing to open their books to us , this is always a probablity. Where else do you see a garmen claiming that they are helping us to decide on what is best when they are clearly not intending to hand out cash to the needy? While the ministers pay themselves millions pegged to inflation while the general public have not experienced as much growth in real income? just like fort knox gold us gahmen has been refusing audits of their tons of gold kept in the vault. nobody knows if the gold is still there... sounds familiar? Link to post Share on other sites More sharing options...
Swingarm 1st Gear May 8, 2013 Share May 8, 2013 what can he do other than telling you to be confident of his future? Watchdog Link to post Share on other sites More sharing options...
Mustank Hypersonic May 8, 2013 Share May 8, 2013 When your time comes, you see the amount that you can withdraw cash is getting lesser and lesser..... The money they kept will release to you bit by bit (maybe by your time will be $900/- per month where the value is almost like $350 now) until you die... You better not stop work or else, no money goes into CPF and your retirement fund would be less... luckily i advised my dad not to go for the cpf life scheme Link to post Share on other sites More sharing options...
Wt_know Supersonic May 8, 2013 Share May 8, 2013 (edited) cpf account rich but not cash rich this is also a reason why people chase property blindly in addition to low interest rate you talk to 10 people, 10 people will say ... aiya ... money in cpf can see cannot touch ... might as well whack property la ... Edited May 8, 2013 by Wt_know Link to post Share on other sites More sharing options...
Chucky2007 Turbocharged May 8, 2013 Share May 8, 2013 I have another 19 years to go before setting aside that minimum sum thing... Maybe by then this scheme will be scrapped... Keeping fingers crossed. Link to post Share on other sites More sharing options...
Chucky2007 Turbocharged May 8, 2013 Share May 8, 2013 cpf account rich but not cash rich this is also a reason why people chase property blindly in addition to low interest rate you talk to 10 people, 10 people will say ... aiya ... money in cpf can see cannot touch ... might as well whack property la ... Bec minimum sum too unpredictable... Personally I rather use every single centre in OA and incur the so call interest, and keep setting cash aside which earns almost zero interest, but at least when opportunities are there can invest.. rather than having so much restrictions in how I can use my own $$ if they are kept in CPF ↡ Advertisement Link to post Share on other sites More sharing options...
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