Talking Point >>> Is your CPF enough for retirement?

[Dumb]

  On 12/12/2012 at 3:38 AM, EricTeh said:

that is where you are COMPLETELY WRONG

 

your kids will not SEE CASH

 

but will roll over to their CPF account

 

like that also can

 

 

how to enjoy the fruits of our hardwork when we are old

 

If dont know, please dont give wrong information.

[Dumb]

  On 12/12/2012 at 6:02 AM, Darryn said:

I also wanna use CPF for second property.

 

And part of the reason is so that I can "monetise" my CPF

 

I got enough cpf to pay for my flat in full, but I took a bank loan!!!

[Dumb]

  On 12/12/2012 at 5:31 AM, Kangadrool said:

Of course must file in if you want to get the $$$ fast.

 

Think if your next of kin never claim after certain period from death, CPF regularly advertised in the major papers for unfiled claims.

 

CPF will automatically inform nominee/s with a month a member died.

 

If no nominee/s, I dont know what will the board do. May need a probate or letter of administration to apply for withdrawal.

 

[Porche]

  On 12/12/2012 at 2:46 AM, Baphomet said:

CPF is only good for my kid when I die. she gets it in cash.

 

I do not think i will ever see "MY SAVINGS" when they keep shifting up the minimum sum and withdrawal age.

 

u r wrong, should do a check. Your kid will never see your cash too. when u reach 55, minimum sum will be used to fund annuity. You want to see your $$$, give up the citizenship, u will see your $$$

 

[Chrispie]

  On 12/12/2012 at 3:38 AM, EricTeh said:

that is where you are COMPLETELY WRONG

 

your kids will not SEE CASH

 

but will roll over to their CPF account

 

like that also can

 

 

how to enjoy the fruits of our hardwork when we are old

 

 

it's cash for sure. cfm plus chop.

 

 

[EricTeh]

  On 12/12/2012 at 3:00 PM, Dumb said:

If dont know, please dont give wrong information.

 

every step of the way

the authorities will add something to the conditions

and thus preventing people from being able to take out their money

 

 

[Speak_listen]

  On 12/12/2012 at 4:16 PM, Porche said:

u r wrong, should do a check. Your kid will never see your cash too. when u reach 55, minimum sum will be used to fund annuity. You want to see your $$$, give up the citizenship, u will see your $$$

give up citizenship, but also need declare where is your next destination right?

if to malaysia, still not in lum sum right?

anyone can confirm this?

[1fast1]

  On 12/13/2012 at 12:38 AM, Speak_listen said:

give up citizenship, but also need declare where is your next destination right?

if to malaysia, still not in lum sum right?

anyone can confirm this?

 

If W. Malaysia, cannot w/draw CPF confirm. Anywhere else, can.

[Toapayohkid]

  On 12/12/2012 at 11:37 PM, EricTeh said:

every step of the way

the authorities will add something to the conditions

and thus preventing people from being able to take out their money

 

give examples leh. like what conditions?

[Tjkbeluga]

  On 12/13/2012 at 12:41 AM, Turboflat4 said:

If W. Malaysia, cannot w/draw CPF confirm. Anywhere else, can.

Not true.... I have friend from Kelantan who gave up PR and declare he will never work in SG can take out all..... They migrated to OZ....

[Alpha78]

  On 12/13/2012 at 1:43 AM, Tjkbeluga said:

Not true.... I have friend from Kelantan who gave up PR and declare he will never work in SG can take out all..... They migrated to OZ....

 

Case by case basis. By doing that he can never work in SG anymore, even if he changes his mind later (maybe can, if he puts back all the money with interest ).

[EricTeh]

  On 12/13/2012 at 1:40 AM, Toapayohkid said:

give examples leh. like what conditions?

alamak

u so blur one is it

 

increase minimum sum until how many can take out their money

yes you may have cash to take out

but you still to fulfill the minimum sum first

 

age at which CPF can be taken out - goal post keep moving

 

etc

[Ben5266]

  On 12/12/2012 at 4:36 AM, Darryn said:

The policy of CPF for SECOND property is flawed.

 

Can use CPF to pay mortgage, but then get rental in CASH.

 

Adds to the housing bubble, if the money instead had to go back into CPF then would be "better" (at least from a retirement savings perspective)

 

I also feel that using CPF for property should be more closely managed for HDB

In theory yes.

But after allocate some$$ for the first property, how much left for the second?

So no need to fix this.

[Ben5266]

  On 12/12/2012 at 6:02 AM, Darryn said:

I also wanna use CPF for second property.

 

And part of the reason is so that I can "monetise" my CPF

Wait till your hdb loan is reaching the withdrawal limit, then buy a second property to use CPF to service and use cash from the private property to service the hdb.

Pray the govt will change the rules when you need this.

 

[Ben5266]

  On 12/13/2012 at 10:43 AM, Ben5266 said:

Wait till your hdb loan is reaching the withdrawal limit, then buy a second property to use CPF to service and use cash from the private property to service the hdb.

Pray the govt will change the rules when you need this.

See lah... Kena con by the govt again... They must be already have intention to increase the contribution, or min sum...

But Keke ask enough or not.

Now everybody vote not enough.... Ho sheh liao... As the people's wish. CPF for employee up to 25% and the fund goes to MA.

min sum increase... :angry:

[Porche]

  On 12/13/2012 at 12:41 AM, Turboflat4 said:

If W. Malaysia, cannot w/draw CPF confirm. Anywhere else, can.

 

u give up citizenship, they will let u draw out. not move, its leave

[Porker]

Assume you work 30 years after graduation and best case scenario is salary above $5,000 every month.

So every year you get $21,600. 30 years = $648,000

Where got enough? Now HDB also easily $500,000 so you have less than $200,000 assuming can draw out

[EricTeh]

  On 12/14/2012 at 2:12 AM, Porker said:

Assume you work 30 years after graduation and best case scenario is salary above $5,000 every month.

So every year you get $21,600. 30 years = $648,000

Where got enough? Now HDB also easily $500,000 so you have less than $200,000 assuming can draw out

 

i wondered anybody know the asset of our

top civil servants

MP and ministers

 

any of them billionaires (please US Dollar and NOT ruppiah or YEN)