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Old 19-10-2011, 12:55 AM   #1
AlvinLeong
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Default Bye bye CPF.........

p://www.asiaone.com/News/AsiaOne+News/S...5708.html#embed



By Gwendolyn Ng

AS LIFE expectancy increases up to 85 and beyond, the Government is reviewing the Central Provident Fund (CPF), which remains viable, Minister of State for Manpower and National Development Tan Chuan-Jin said yesterday.

Speaking at a forum held at the National University of Singapore, he said: "We are enhancing the CPF system to make CPF savings last longer for members."

This is because people underestimate how long they will live and how much they should save for retirement, Brigadier-General (NS) Tan said.

Family support continues to play an important role in retirement adequacy.

For instance, he said seniors could be supported through the Minimum Sum Topping-Up Scheme where members opt to top up their family members' CPF accounts. About $110 million in top-ups were made for parents and grandparents last year.
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Old 19-10-2011, 12:58 AM   #2
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Someone posted this in asiaone.........

Quote:
Posted by: Limos2010 at Thu Aug 25 15:29:16 SGT 2011


Hi guys have you ever realize how things works here in Singapore? Did you ever think that it's similar to Ponzi scheme? Prove me if I'm wrong, btw it works actually ...

By increasing the minimum sum of our CPF annually that means the asset that can be invested in CPF is increasing continually. So CPF can give this asset to GIC and Temasek for investment and their asset will always increasing continually regardless their losing in their investment or not. They can always claims that they are not losing their investment by showing that their asset is increasing annually. This is works similar to the Ponzi scheme isn't?

Another case is when you want to divest your CPF to buy HDB, that means you are investing your asset to HDB asset. The government can always control the property price to increase in value .....
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Old 19-10-2011, 01:46 AM   #3
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Quote:
Originally Posted by AlvinLeong View Post
p://www.asiaone.com/News/AsiaOne+News/S...5708.html#embed



By Gwendolyn Ng

AS LIFE expectancy increases up to 85 and beyond, the Government is reviewing the Central Provident Fund (CPF), which remains viable, Minister of State for Manpower and National Development Tan Chuan-Jin said yesterday.

Speaking at a forum held at the National University of Singapore, he said: "We are enhancing the CPF system to make CPF savings last longer for members."

This is because people underestimate how long they will live and how much they should save for retirement, Brigadier-General (NS) Tan said.

Family support continues to play an important role in retirement adequacy.

For instance, he said seniors could be supported through the Minimum Sum Topping-Up Scheme where members opt to top up their family members' CPF accounts. About $110 million in top-ups were made for parents and grandparents last year.
We all contribute to our Ministers million dollar pay.....
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Old 19-10-2011, 09:01 AM   #4
Guppies Onli
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And all our shield insurance premium increased tremendously at 60 - 65.
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Old 19-10-2011, 09:05 AM   #5
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AS good as gone. Think not many hv the chance to see the solid $$$......
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Old 19-10-2011, 09:58 AM   #6
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ha ...... chor simi lan .PAP !!!
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Old 19-10-2011, 01:10 PM   #7
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I read somewhere Singapore scores low on adequacy regarding retirement funds. The CPF is simply not enough for retirement, the ageing population is a time bomb waiting to explode and the garment is not doing much except wayang and bird talk. Come 2020 to 2030, a large share of votes will come from the older segment, many of whom may not have sufficient retirement funds. Guess what's going to happen?
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Old 19-10-2011, 11:45 PM   #8
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Our rich ministers of today will happily retire in some first world country and leave these Shit behind for some smart Alec to clear .....
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Old 21-10-2011, 08:31 AM   #9
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Just use up all the CPF to buy house and then rent the house out to collect rent. That's the only way to get the money out!! Or else, just buy and sell the house though they will tax quite jialat if you sell within 2 years.
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Old 21-10-2011, 09:26 AM   #10
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Quote:
Originally Posted by onlyyouknow View Post
Just use up all the CPF to buy house and then rent the house out to collect rent. That's the only way to get the money out!! Or else, just buy and sell the house though they will tax quite jialat if you sell within 2 years.
Thanks to MBT, now most of us needs to use our CPF to service 20 or more years of HDB loan.....and you can't but a second HDB....so how to make money....
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