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[Somewhat1975]

If MS scheme was replaced by CPF Life since 2009, why are we still arguing about MS now?

 

 

minimum sum and minimum sum scheme are two different things.

 

Minimum sum is the minimum amount you need to set aside in your retirement account when you reach 55 yr old.

 

minimum sum scheme is kind of payment policy when you reach 65 yr old. Normally you will get monthly payment from you RA for 20 yrs. If you are still alive after 85 yr old, oops, no more money for you.

 

As Singaporean lives longer, minimum sum scheme is considered inadequate. So they come up with CPF life scheme. In this way, you will receive your monthly payment as long as you are alive.

[Tigerwoods]

 

same lah............who ever become gov also will take back later one.............no different de..........

 

only give and no take back .....the golden goose also will die lah............

 

is open or no open................no open abit abit one............. [laugh]

I think you recently affected by the taboo word "Goodies". definitely Airborne Virus...

 

You all want to see Full ball, I want to see Quarter Ball..

[Tianmo]

I think you recently affected by the taboo word "Goodies". definitely Airborne Virus...

 

You all want to see Full ball, I want to see Quarter Ball..

 

see "Goodies" only my mind go blank lah..............scare to the max you know............

 

anyway .............i learned that is see full ball or no see at all................you see quarter or half ball is usually push up.............only see the right things.........after that usually feel cheated you know.............

[Coolad]

 

I too ....am against the 6.9m plan..........but i wouldn't vote if the opp is lousy...............my vote goes to the best solution or who ever can take care of my ward............if they cannot take care of my ward to start off...forget about the country..........and last thing I want is to vote in monkeys and turn my ward into a zoo..............

 

MIW has been using this tactic for umpteen times... always nvr fail to state without them it will be worse... looking back at the last 15years... life for sinkie were getting from bad to worse.. and we pay these guys millions in salaries to do sinkie in...

 

dun worry ... even majority vote for the oppositions, oppositions will still be unable to replace the MIW... but sinkie need to send a strong message across to the MIW that they mean business.... wake-up call needed... treating Sinkie like idiots... AIM/CPF/ 6.9M toilet paper/ FT scholarships/ sub-par FT/ ponding/ Little India Riots/ SMRT.... too many liao....

 

SINKIEs acknowledge tat SG is small and unique and maybe tough to run.... TAT's Y SINKIEs accept and pay MIW TOP dollars rite (highest on the whole planet to be exact)!

[Joseph22]

You normally trust garment data one leh. why your DNA suddenly change ?

 

Yes I want to see what are the Fees these people are receiving from our SWFs. this is also one of the transparency I want.

Don't like Ghost Ghost Rat Rat one.

Data I trust. Cause I got friend working in data field one. Data no wrong one. Interpretation another issue.

[Joseph22]

 

MIW has been using this tactic for umpteen times... always nvr fail to state without them it will be worse... looking back at the last 15years... life for sinkie were getting from bad to worse.. and we pay these guys millions in salaries to do sinkie in...

 

dun worry ... even majority vote for the oppositions, oppositions will still be unable to replace the MIW... but sinkie need to send a strong message across to the MIW that they mean business.... wake-up call needed... treating Sinkie like idiots... AIM/CPF/ 6.9M toilet paper/ FT scholarships/ sub-par FT/ ponding/ Little India Riots/ SMRT.... too many liao....

 

SINKIEs acknowledge tat SG is small and unique and maybe tough to run.... TAT's Y SINKIEs accept and pay MIW TOP dollars rite (highest on the whole planet to be exact)!

Last time in the west they vote for one opposition.. End up their ward become very jialat. Cleaning lah.. Basic stuff ah all become worse. So next election go back pap.

 

From then on west sider hardly vote for monkey Liao.

 

It is easy to say vote for monkey when it is not ur own ward.

Edited June 9, 2014 by Joseph22

[Tigerwoods]

 

see "Goodies" only my mind go blank lah..............scare to the max you know............

 

anyway .............i learned that is see full ball or no see at all................you see quarter or half ball is usually push up.............only see the right things.........after that usually feel cheated you know.............

hahahaaa..... can't plaise you yet ! owe you 5 !

Last time in the west they vote for one opposition.. End up their ward become very jialat. Cleaning lah.. Basic stuff ah all become worse. So next election go back pap.

 

From then on west sider hardly vote for monkey Liao.

 

It is easy to say vote for monkey when it is not ur own ward.

so you who you want to bash ? so confusing one...

[Astrid]

 

 

minimum sum and minimum sum scheme are two different things.

 

Minimum sum is the minimum amount you need to set aside in your retirement account when you reach 55 yr old.

 

minimum sum scheme is kind of payment policy when you reach 65 yr old. Normally you will get monthly payment from you RA for 20 yrs. If you are still alive after 85 yr old, oops, no more money for you.

 

As Singaporean lives longer, minimum sum scheme is considered inadequate. So they come up with CPF life scheme. In this way, you will receive your monthly payment as long as you are alive.

Thank you for the clarification.

[Rm2s]

 

MIW has been using this tactic for umpteen times... always nvr fail to state without them it will be worse... looking back at the last 15years... life for sinkie were getting from bad to worse.. and we pay these guys millions in salaries to do sinkie in...

 

dun worry ... even majority vote for the oppositions, oppositions will still be unable to replace the MIW... but sinkie need to send a strong message across to the MIW that they mean business.... wake-up call needed... treating Sinkie like idiots... AIM/CPF/ 6.9M toilet paper/ FT scholarships/ sub-par FT/ ponding/ Little India Riots/ SMRT.... too many liao....

 

SINKIEs acknowledge tat SG is small and unique and maybe tough to run.... TAT's Y SINKIEs accept and pay MIW TOP dollars rite (highest on the whole planet to be exact)!

 

In the last 15 years, from the bottom of my heart, my life has been better than before. I've paid off my flat, I have a car to drive, my eldest kid now in local U, my SA amount is increasing, I've travelled on holiday about every other year, my block been painted couple of times, I have lift that stop on every floor, they built a MSCP so my car is parked under shed, the neighborhood park near my block has been completely redone, the PCN is growing ...

 

If I want to just pick on the negatives, there are some too .. but I prefer to enjoy a positive Monday.

[Wt_know]

good for your

you fall within CIMB survey

 

Chart of the Day: This graph shows that no, Singaporeans are not really struggling

 

 

 

In the last 15 years, from the bottom of my heart, my life has been better than before. I've paid off my flat, I have a car to drive, my eldest kid now in local U, my SA amount is increasing, I've travelled on holiday about every other year, my block been painted couple of times, I have lift that stop on every floor, they built a MSCP so my car is parked under shed, the neighborhood park near my block has been completely redone, the PCN is growing ...

 

If I want to just pick on the negatives, there are some too .. but I prefer to enjoy a positive Monday.

 

Edited June 9, 2014 by Wt_know

[Jman888]

 

In the last 15 years, from the bottom of my heart, my life has been better than before. I've paid off my flat, I have a car to drive, my eldest kid now in local U, my SA amount is increasing, I've travelled on holiday about every other year, my block been painted couple of times, I have lift that stop on every floor, they built a MSCP so my car is parked under shed, the neighborhood park near my block has been completely redone, the PCN is growing ...

 

If I want to just pick on the negatives, there are some too .. but I prefer to enjoy a positive Monday.

 

 

i stay positive everyday although i am still in debt, i dun blame anyone

[Ktglfc]

 

Between 55 and 65, that's 10 years, it is for the money to earn returns so that CPF Life, when kicked in will be able to pay you a monthly amount for life.

 

Many annuity plans work the same way. Say you put in a lump sum of cash, for e.g., my insurance agent told me $200K, then let it sit there for 12 years and it will start paying $1,000 a month for life.

 

For CPF Life, its 155K sits for 10 years and you get $1,200 a month for life.

 

If someone uses property to pledge the 50%, the payout will naturally be lower.

 

It is important to note that CPF Life will only be enough for basic living needs, when I read so many people in this forum want their CPF to be returned to them in full at 55, I assume they must know what to do hence the question of whether working or not is to me irrelevant because I'd assume that they have their plans all lined up on how to maximise the CPF savings, along with their other savings to last the length of their retirement.

 

So meaning, after the withdrawal at age 55 (if have excess above MS), I would have to wait for another 10 long years till 65, before I can take out money from RA. Wow, thats a long long 10 years to survive.

If I ganna retrenched after age 55, then gone liao lor, cannot survive liao.

Neither here not there: cannot contribute further into account, and cannot take out the monthly payout from RA also.

 

Ok, then I have to pray everyday that I cannot get retrench (or thinking of retirement) after age 55

Can

[Joseph22]

hahahaaa..... can't plaise you yet ! owe you 5 !

 

so you who you want to bash ? so confusing one...

Not confusing. Just switch side nia. Show U my power.

 

Easier to bash gahmen Leh. More supporter.

 

So meaning, after the withdrawal at age 55 (if have excess above MS), I would have to wait for another 10 long years till 65, before I can take out money from RA. Wow, thats a long long 10 years to survive.

If I ganna retrenched after age 55, then gone liao lor, cannot survive liao.

Neither here not there: cannot contribute further into account, and cannot take out the monthly payout from RA also.

 

Ok, then I have to pray everyday that I cannot get retrench (or thinking of retirement) after age 55

Can

What u need to do is to planned for retirement starting from 55.

 

If u Kenna retrench at 45. U still need 10 years to get cpf money. So no different lah.

[Coltplussport]

 

So meaning, after the withdrawal at age 55 (if have excess above MS), I would have to wait for another 10 long years till 65, before I can take out money from RA. Wow, thats a long long 10 years to survive.

If I ganna retrenched after age 55, then gone liao lor, cannot survive liao.

Neither here not there: cannot contribute further into account, and cannot take out the monthly payout from RA also.

 

Ok, then I have to pray everyday that I cannot get retrench (or thinking of retirement) after age 55

Can

 

The minimum sum at 55 aren't going to last you long, and if you get retrenched, maybe can start looking at other forms of employment like road sweeping?

[Astrid]

 

In the last 15 years, from the bottom of my heart, my life has been better than before. I've paid off my flat, I have a car to drive, my eldest kid now in local U, my SA amount is increasing, I've travelled on holiday about every other year, my block been painted couple of times, I have lift that stop on every floor, they built a MSCP so my car is parked under shed, the neighborhood park near my block has been completely redone, the PCN is growing ...

 

If I want to just pick on the negatives, there are some too .. but I prefer to enjoy a positive Monday.

These are the ungrateful people, who keep wanting more!

Very money faced and materialistic!

 

If only they are born as Indonesians, Philippina, Vietnamese, or even Bolehsian ...

They just don't know what good life they have had.

 

School holidays lah ... plenty keyboard warriors around

 

 

i stay positive everyday although i am still in debt, i dun blame anyone

Good on ya!

Remain positive, stay calm, be happy and work to eliminate you debt!

[Tianmo]

 

MIW has been using this tactic for umpteen times... always nvr fail to state without them it will be worse... looking back at the last 15years... life for sinkie were getting from bad to worse.. and we pay these guys millions in salaries to do sinkie in...

 

dun worry ... even majority vote for the oppositions, oppositions will still be unable to replace the MIW... but sinkie need to send a strong message across to the MIW that they mean business.... wake-up call needed... treating Sinkie like idiots... AIM/CPF/ 6.9M toilet paper/ FT scholarships/ sub-par FT/ ponding/ Little India Riots/ SMRT.... too many liao....

 

SINKIEs acknowledge tat SG is small and unique and maybe tough to run.... TAT's Y SINKIEs accept and pay MIW TOP dollars rite (highest on the whole planet to be exact)!

 

before we move on.....i would appreciate if you can replace the word SINKES with Singaporeans...........at least when quoting me...............i do feel offended.

 

Fear has always been the tool used.............argument not needed about it...........and such fear is beginning to lost its might...........quite clearly seen lately.

 

I do agree that wake up call is needed...........but at what expends............things happen all over the world and no one country can live without any fault..................no one gov does not make mistakes.............we need to look at the overall pictures.........

 

changing a system takes time...............need good ppl with good mindset and abilities............I will be very happy to see changes with good opp to tighten up the system...............not giving opportunist a chance to pull a fast one and create damages to my life..........

[Astrid]

 

So meaning, after the withdrawal at age 55 (if have excess above MS), I would have to wait for another 10 long years till 65, before I can take out money from RA. Wow, thats a long long 10 years to survive.

If I ganna retrenched after age 55, then gone liao lor, cannot survive liao.

Neither here not there: cannot contribute further into account, and cannot take out the monthly payout from RA also.

 

Ok, then I have to pray everyday that I cannot get retrench (or thinking of retirement) after age 55

Can

Eh ello, you can still draw out whatever excess you have over the MS, at 55 lah!

Unless, that is, you only have gnam gnam $155K at 55?

 

It's not as bleak as you have painted lah ... at least for your case.

 

If u Kenna retrench at 45. U still need 10 years to get cpf money. So no different lah.

Exactly!

He's only confusing the issue lah

 

 

The minimum sum at 55 aren't going to last you long, and if you get retrenched, maybe can start looking at other forms of employment like road sweeping?

Heehee. Right!

 

 

before we move on.....i would appreciate if you can replace the word SINKES with Singaporeans...........at least when quoting me...............i do feel offended.

 

Fear has always been the tool used.............argument not needed about it...........and such fear is beginning to lost its might...........quite clearly seen lately.

 

I do agree that wake up call is needed...........but at what expends............things happen all over the world and no one country can live without any fault..................no one gov does not make mistakes.............we need to look at the overall pictures.........

 

changing a system takes time...............need good ppl with good mindset and abilities............I will be very happy to see changes with good opp to tighten up the system...............not giving opportunist a chance to pull a fast one and create damages to my life..........

Edit: create damages to life AND COUNTRY!

Edited June 9, 2014 by Astrid

[Ktglfc]

Not confusing. Just switch side nia. Show U my power.

 

Easier to bash gahmen Leh. More supporter.

 

What u need to do is to planned for retirement starting from 55.

 

If u Kenna retrench at 45. U still need 10 years to get cpf money. So no different lah.

 

How to plan for retirement when you still have family to support?

How to save more money when expenses are marginally below earnings?

 

I am at 40 now, and MS is at $155k now.

in 15 years, when i reach 55, what will the MS be? $200k? $250k?

I don't think I would be able to get anything from the excess of MS at age 55.

 

Savings from current salary will all go to children education.

And we are all talking abt local schs, university. Not cheap leh.

 

The minimum sum at 55 aren't going to last you long, and if you get retrenched, maybe can start looking at other forms of employment like road sweeping?

 

I also thought so.

Don't mind cleaner job, if situation worsens.

$1k income, is still income :)