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Do You Want To Retire Before 60 ?

Maxus-MIFA9

By Maxus-MIFA9,
in Investment & Financial Matters

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Voodooman

Voodooman

Supersonic
On 1/8/2025 at 10:48 AM, Throttle2 said:

yes i am sure it will happen but for my children's generation not our generation.

Simply look at the credit that the man in the street is building up.  Singaporeans are borrowing more than ever and more people are getting into these debt trouble more than ever.  People have to work longer more than ever and therefore CPF withdrawal must also move according to the abilities of people to retire. People are also living longer not like before.

In the past generation, it wasnt uncommon to retire between the ages of 55-60 even if you are not a multi millionaire.  a decent salary man could do that and withdraw his CPF and actually survive ok.  not lavishly but ok.  thats why it was set at 55.   

Yes, I really think that CPF withdrawal will be pushed back to 60 and like you say CPFlife to 70.   It all points to that.  

 

 

69 Jurong WEst Ave 2 Points

 

They will keep increasing the minimum sum.

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Mkl22

Mkl22

Supersonic
(edited)
On 1/7/2025 at 6:02 PM, Throttle2 said:

It's possible to depend on your CPF to retire.  you just have to work till 78.  Easy Peasy, so many Singaporeans doing it.

Muayhahhahhahhahhah

81 BoonKeng Rd Points

 

thereafter mati and then kids have to sell and dispose of property. but HDB/CPF does have mandatory insurance for loans when the person dies till 65. so maybe thats the thinking. loan big big then mati and all debts are wiped...

Edited by Mkl22
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BanCoe

BanCoe

Hypersonic
On 1/8/2025 at 10:40 AM, Spidey10 said:

and CPF life starts from 70.....then all really no choice but to work til the bones! 

with a stroke of a pen...all these can change very fast...and is possible!

I tot it ( CPF Life) starts at 65 ( option) but kicks in mandatorily at 70 

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RadX

RadX

Moderator
On 1/8/2025 at 11:14 AM, BanCoe said:

I tot it ( CPF Life) starts at 65 ( option) but kicks in mandatorily at 70 

he is painting a plausible rhetoric la....pundek....no wonder u prembaree tree...better go back to prembaree toot

 

i foresee policy risk of this change.....mark my words

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Spidey10

Spidey10

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On 1/8/2025 at 11:14 AM, BanCoe said:

I tot it ( CPF Life) starts at 65 ( option) but kicks in mandatorily at 70 

just push the optional to 70 and mandatory to 75....as T said, we live longer...

but hor, yes, we do live longer....but some maybe living longer sitting on the wheelchair or bed ridden leh....like that I prefer to go off...just me :grin:

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Spidey10

Spidey10

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On 1/8/2025 at 11:15 AM, RadX said:

he is painting a plausible rhetoric la....pundek....no wonder u prembaree tree...better go back to prembaree toot

 

i foresee policy risk of this change.....mark my words

is a very high chance, that's why wifey said to take out whatever and keep the bare minimum in the CPF...Else lock in jialat. Better in my wallet than in CPF. 

Never know when they will do that, and it could be overnight....just imagine how much they could saved!! 

Give u CDC every year, think no need to give back ahh....so good meh! :grin:

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BanCoe

BanCoe

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On 1/8/2025 at 11:15 AM, RadX said:

he is painting a plausible rhetoric la....pundek....no wonder u prembaree tree...better go back to prembaree toot

 

i foresee policy risk of this change.....mark my words

Always good to have forecast roaming Aneh here , I only thamby …… BTW I’m overqualified for table wiping @ premabree 🌲 hor! 

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RadX

RadX

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On 1/8/2025 at 11:25 AM, BanCoe said:

Always good to have forecast roaming Aneh here , I only thamby …… BTW I’m overqualified for table wiping @ premabree 🌲 hor! 

as long not foreskin.... @mersaylee ask me to say

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Throttle2

Throttle2

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On 1/8/2025 at 11:18 AM, Spidey10 said:

just push the optional to 70 and mandatory to 75....as T said, we live longer...

but hor, yes, we do live longer....but some maybe living longer sitting on the wheelchair or bed ridden leh....like that I prefer to go off...just me :grin:

not good enough leh.  The gap between 55 and 70 is too great.   looks like they really have to shift the withdrawal age to 60 in the coming years.

 

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Throttle2

Throttle2

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On 1/8/2025 at 11:21 AM, Spidey10 said:

is a very high chance, that's why wifey said to take out whatever and keep the bare minimum in the CPF...Else lock in jialat. Better in my wallet than in CPF. 

Never know when they will do that, and it could be overnight....just imagine how much they could saved!! 

Give u CDC every year, think no need to give back ahh....so good meh! :grin:

Unlikely to happen as long as she is past the withdrawal age of current policy.    But i can totally understand her thoughts.

 

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Spidey10

Spidey10

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On 1/8/2025 at 11:18 AM, Throttle2 said:

Yes they already doing it.

But who has the iron to push back CPF withdrawal age, that i like to see.  

if they announce, wonder what will happen ah...probably nothing, maybe just lose a few seats here and there....:grin:

Our G like that one....but then, i am sure they are smart enuff not to rock the boat now....I also heard about the cooling measures...but cannot rock the boat yet.....if everything do after the main event, might be very drastic move.....some pple could feel the pain!! 

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Spidey10

Spidey10

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On 1/8/2025 at 11:37 AM, Throttle2 said:

Unlikely to happen as long as she is past the withdrawal age of current policy.    But i can totally understand her thoughts.

 

she just kept the min required there, the FRS and MA account...full to the brim! the rest in FD! 

that's why i said, sometimes, i feel (we) are holding on too much cash!! 

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Voodooman

Voodooman

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(edited)
On 1/8/2025 at 11:18 AM, Throttle2 said:

Yes they already doing it.

But who has the iron to push back CPF withdrawal age, that i like to see.  

I don’t think they need to do that so long as after 65, G don’t need to take care of you.  So minimum sum will go up.

If they pushed back withdrawal age from 55 to 60, they will piss off everyone, including those with a million in CPF money, people like you that don’t need the nanny state to manage your retirement money.

G just need to be very targeted in helping those who need help before start of CPF life withdrawal at 65 and these are the people who probably don’t even have enough minimum sum at 55, moving it to 60 won’t make much of a difference. 

Of course there are skeptics who think G wants to keep as much money locked up and for as long as possible for their own purpose, I don’t belong to that school.

Edited by Voodooman
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BanCoe

BanCoe

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On 1/8/2025 at 12:35 PM, Arogab said:

I retired from under table liao. Now I go under water hor 😂

Waaaah …….U sure can upgrade skills future  very fast ….. going for mermaids 

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Throttle2

Throttle2

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On 1/8/2025 at 12:30 PM, Voodooman said:

I don’t think they need to do that so long as after 65, G don’t need to take care of you.  So minimum sum will go up.

If they pushed back withdrawal age from 55 to 60, they will pissed off everyone, including those with a million in CPF money, people like you that don’t need the nanny state to manage your retirement money.

G just need to be very targeted in helping those who need help before start of CPF life withdrawal at 65 and these are the people who probably don’t even have enough minimum sum at 55, moving it to 60 won’t make much of a difference. 

Of course there are skeptics who think G wants to keep as much money locked up and for as long as possible for their own purpose, I don’t belong to that school.

i also dont belong to that school.

I just think they logically should for the reasons i highlighted  But the repercussions, we dont know. 

if they ask me for a solition, i would say 55 allow half withdrawal and 60 the other half lor.  Wahahaha

see if anyone in this gen got the iron in him or not to govern Singapore😆😀

 

42 Sixth Ave points

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