CPF: Have You Saved Enough? Think Again...
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Originally posted by Lowclassman:
and those people who came up with the idea probably bought landed properties with 999 years lease.
[b]This Singapore!!!!! Freaking PAP Govt.
I served my NS and a pure Singaporean. Today, I realised that I don't even have free space to stand here on ''so called'' our homeland.
Maybe should not be free...but why are paying housing loan with interest that would be doubled when is fully paid up? Notwithstanding the interest that we are paying....but a leased of 99 years which we will have to surrender our to the govt eventually.
We are just slaves to pap.
FREAKING PAP[/b]
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Well.. those who aren't well off and old, will need to be HARDY - DO WHATEVER one is capable of, and somehow survive.Originally posted by dragg:as much as i sound pessimistic life full of financial worries is not worth living, especially if you are old.
I know it's easier said than done, but I started off very badly in earlier years, and I did whatever I knew - groped around till now I'm finally ok.
I could find no jobs, people say I'm either under qualified or over-qualified, that I may have conflict of interests, that I can't speak/read Mandarin, or they want to pay me green-peas (worse than peanuts).. etc. -
Originally posted by Lowclassman:
Tot abt that too but then again, no flats are built to stand 99 years right? Probably be en bloc via SERS, HDB will compensate HDB-dwellers for relocation....as for how much, well that's another issue
[b]This Singapore!!!!! Freaking PAP Govt.
I served my NS and a pure Singaporean. Today, I realised that I don't even have free space to stand here on ''so called'' our homeland.
Maybe should not be free...but why are paying housing loan with interest that would be doubled when is fully paid up? Notwithstanding the interest that we are paying....but a leased of 99 years which we will have to surrender our home to the govt eventually.
We are just slaves to pap.
FREAKING PAP[/b]
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Originally posted by Lowclassman:
Hey brother!
[b]This Singapore!!!!! Freaking PAP Govt.
I served my NS and a pure Singaporean. Today, I realised that I don't even have free space to stand here on ''so called'' our homeland.
Maybe should not be free...but why are we paying housing loan with interest that would be doubled when is fully paid up? Notwithstanding the interest that we are paying....but a leased of 99 years which we will have to surrender our home to the govt eventually.
We are just slaves to pap.
FREAKING PAP[/b]
Had your lunch?
Was it with see-hum??
Better dun eat too much of their see-hum... can die early one...
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I used to think that the whole cpf thing's BS! But now my dad's got cancer and from the income level of my parents savings in excess in their bank accounts are highly impossible. The insurance coverage i bought for my dad's even more bull sh it and i forsee will hardly cover the daily hospitalization charges. I am hoping my dad's medisave account can hold out for this time and since he is 62 years old now, the period of him recuperating from the surgery he will be jobless so i guess he can still get some money every month from the retirement account.
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you know how screw-up things were in the earlier years. who knows what will happen to these 99yr-lease flats? maybe something might crop up out of nowhere ten years down the road.Originally posted by Rock^Star:Tot abt that too but then again, no flats are built to stand 99 years right? Probably be en bloc via SERS, HDB will compensate HDB-dwellers for relocation....as for how much, well that's another issue -
all things considered, it isnt too bad.Originally posted by ShutterBug:Better dun eat too much of their see-hum... can die early one... 
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Yah... crop up.. such as a new governement...Originally posted by dragg:you know how screw-up things were in the earlier years. who knows what will happen to these 99yr-lease flats? maybe something might crop up out of nowhere ten years down the road. -
the aluminium rivets (when windows starts dropping as frequent as bird shIt).
the lift upgrading (as the population ages)
all these cropped up out of nowhere and flat owners end up having to pay for it.
what's next????
money, money and more money!!!
the govt should set aside a sum of money to solve such problems!!! -
wait long long....
for your new govt...
sigh...yeah lor...bloody society is built based on money...they are getting richer....we are getting poorer.... -
My empathy goes out to your dad.......Originally posted by troublemaker2005:I used to think that the whole cpf thing's BS! But now my dad's got cancer and from the income level of my parents savings in excess in their bank accounts are highly impossible. The insurance coverage i bought for my dad's even more bull sh it and i forsee will hardly cover the daily hospitalization charges. I am hoping my dad's medisave account can hold out for this time and since he is 62 years old now, the period of him recuperating from the surgery he will be jobless so i guess he can still get some money every month from the retirement account.
Insurance is never BS, always read the fine print and there are lots of great policies out there.
But one's medisave can only have a max of $30,000, so it may not last ur dad very long........ -
they are full of excuses when it comes to the reserves.
i wonder what it is for, except to invest and make more money. then what's next? make more money again until the end of time? -
They're hoarding money for all their future bloodline...Originally posted by dragg:they are full of excuses when it comes to the reserves.
i wonder what it is for, except to invest and make more money. then what's next? make more money again until the end of time?
all that money, and nothing towards helping those who really needs it.. yes there are some help, but even then, it's just a trickle to wet their tongues.
Especially our own hard earned money, they will find all sorts of execuse and policies to keep your money out of your reach until you finally going to die...
I just hope one day, some formiddable opposition will kick them out and replace them.
Nothing can last forever!! -
Not to mention YOU CANNOT EVEN withdraw from your CPF account if you NEVER reach the sum....so many people actually gave all the monies to the GOVT!
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Hmm bro, u can. Check out their websiteOriginally posted by nightzip:Not to mention YOU CANNOT EVEN withdraw from your CPF account if you NEVER reach the sum....so many people actually gave all the monies to the GOVT! Not all though but fair enough. -
You all see so far ahead, I think many Singaporean kana stress and dead of cancer b4 collecting CPF liao.
Save alot alot of $$ for medical bill.
Can't expect too high, just stay in a 4-5rm forever. Don't think of upgrading.
Try to cut cost to the max u can. The more u expect the faster u die, stress ourself and supply govt with ton of $$, they will not say thank you! -
Oh and one more thing is, the money will not go to govt upon death. It is distributd according to nomination. If really no next of kin, then it will be distributed according to the law of intestacy.Originally posted by nightzip:Not to mention YOU CANNOT EVEN withdraw from your CPF account if you NEVER reach the sum....so many people actually gave all the monies to the GOVT! -
i think upon retirement age it can be withdrawn on a monthly bassis. the whole 'minimum sum' thing is, upon 55 yrs old the ordinary account will be freeze to set aside a minimum sum for retirement combined with the special account. once u reach 62 utilizing the remainder money in the retirement account should be no prob. also with medical bills high, unless government willing to subsidize even more on all forms of bills related per medical visit to the hospital the sum of money in your medisave is hardly enough to cover. if the ill parents have any kins the bills can be deducted from their account. since utilization of the ordinary account for housing loan servicings is capped at 55 yrs old too, it should not clash with the retirement funds. except mayb for those who have been actively using they ordinary account to service loans the balance will be smaller.Originally posted by Rock^Star:Oh and one more thing is, the money will not go to govt upon death. It is distributd according to nomination. If really no next of kin, then it will be distributed according to the law of intestacy.
its better for all cpf account holders to make a nomination..else its better to use it up wisely according to the retirement and medical needs. -
my advice for families of all income levels is :Originally posted by T.Ryousuke:You all see so far ahead, I think many Singaporean kana stress and dead of cancer b4 collecting CPF liao.
Save alot alot of $$ for medical bill.
Can't expect too high, just stay in a 4-5rm forever. Don't think of upgrading.
Try to cut cost to the max u can. The more u expect the faster u die, stress ourself and supply govt with ton of $$, they will not say thank you!
watch the situation and look far ahead. however, never forget to look down on your feet and watch to make sure that you have one step on a ladder before you progress to another rung. insurance can play a significant role in medical bills coverage...u just have to buy the righ ones from the right people or right organization. i think those medi-shield variants deductable from our medisave account are the fist we should look for. you will not make a profit outta it, but it should be enough to cover bills in critical situations.
forget about those endowment or savings plan..unless u start young or from a baby it will not make much of a difference. invest your money elsewhere. -
I don't think it can ever be sufficient if costs of medical and everything else, keeps INCREASING.Originally posted by pipipopo:i think upon retirement age it can be withdrawn on a monthly bassis. the whole 'minimum sum' thing is upon 55 yrs old, the ordinary account will be freeze to set aside a minimum sum for retirement, combined with the special account. so once u reach 62 utilizing the remainder money in the retirement account should be no prob. also with medical bills high, unless government willing to subsidize even more on all forms of bills related per medical visit to the hospital the sum of money in your medisave is hardly enough to cover. so if the ill parents have any kins the bills can be deducted from their account. since utilization of the ordinary account for housing loan servicings is capped at 55 yrs old too, it should not clash with the retirement funds. except mayb for those who have been actively using they ordinary the balance will be smaller.
its better for all cpf account holders to make a nomination..else its better to use it up wisely accounting to the retirement and medical needs.
Our gov come up with all these CPF policies and extending the retirement age just to absolve themselves from "taking care" of their people.
For God's sake, PAP, if you don't want to take care of people, at least allow people to take care of themselves!!! Let those who needs monthly medical care access to their OWN MONEY!!!
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yes i am with you on this one...but only if the money is used for all medical bills and not withdrawn in cash...the money can go anywhere other than payments for medical bills u know. i just hope the policy benefits those in need and not to those who schemes to get some extra money to spend.Originally posted by ShutterBug:I don't think it can ever be sufficient if costs of medical and everything else, keeps INCREASING.
Our gov come up with all these CPF policies and extending the retirement age just to absolve themselves from "taking care" of their people.
For God's sake, PAP, if you don't want to take care of people, at least allow people to take care of themselves!!! Let those who needs monthly medical care access to their OWN MONEY!!!
like i wrote in my earlier posts having a CPF scheme will force a person to have some savings...i can't imagine where a patient's gonna get the money for all the hospital visitations if he did not have a medisave account (or a kin's medisave account) for back up. not to mention some illness may force a person to be out of employment for a while prior to recovery. -
yeah, CPF and withdrawal laws can be made/changed and approved by the govt, and effective immediately - no one dare to make a squeak and some don't even know of the changes. Come the bb-bombers retire, the law will definitely change once again to make it more and more difficult for the next group to take out any CPF. By the time I retire - or even get to retire, I might never ever take out a single cent.Originally posted by ShutterBug:I don't think it can ever be sufficient if costs of medical and everything else, keeps INCREASING.
Our gov come up with all these CPF policies and extending the retirement age just to absolve themselves from "taking care" of their people.
For God's sake, PAP, if you don't want to take care of people, at least allow people to take care of themselves!!! Let those who needs monthly medical care access to their OWN MONEY!!!
In Singapore, its better to eat Hum and die quickly. The changes regarding medisave, the price of medicines suddenly shoot up and its not a few cents mind you. When the pharmacist was questioned, a vague answer that pricing are shooting up and therefore we have to expect to pay more.
Medicine price is going up, transport is going up, electricty tariffs going up, taxi charges going up... Cost of living going up. Employment rates are reportedly going up but what percent are Singaporeans is unaccounted for. Birth rates are sustained, but it is unreported if it is by locals or foreigners.
The wonderful thing about all that pre-election goodies and strong mandate - post election blues. Singapore is just full of fearful people. -
I am aware, there are bad apples out there, who'll take advantage of everything.Originally posted by pipipopo:yes i am with you on this one...but only if the money is used for all medical bills and not withdrawn in cash...the money can go anywhere other than payments for medical bills u know. i just hope the policy benefits those in need and not to those who schemes to get some extra money to spend.
like i wrote in my earlier posts having a CPF scheme will force a person to have some savings...i can't imagine where a patient's gonna get the money for all the hospital visitations if he did not have a medisave account (or a kin's medisave account) for back up. not to mention some illness may force a person to be out of employment for a while prior to recovery.
Yes, I'm sure the gov can trace or ensure if money is released to an individual, it must be proven without doubt, that it is towards medical care or medication for a certified and recognized illness.
If they just say NO to everyone, then those who are really sick, jobless because of age hence cannot pay for medicals to address their ailments. This way, the gov is forcing people to an early grave!!!
A common ailment such as Diabetes, combined with High Blood, and High Cholestrol, costs around $200+ per month. So if a person settles for any menial job that pays $1,000gross p/mth - how is he or she to survive?
I think our gov lack heart for all the brains they have... -
the brains is getting more twisted...Originally posted by ShutterBug:I am aware, there are bad apples out there, who'll take advantage of everything.
Yes, I'm sure the gov can trace or ensure if money is released to an individual, it must be proven without doubt, that it is towards medical care or medication for a certified and recognized illness.
If they just say NO to everyone, then those who are really sick, jobless because of age hence cannot pay for medicals to address their ailments. This way, the gov is forcing people to an early grave!!!
A common ailment such as Diabetes, combined with High Blood, and High Cholestrol, costs around $200+ per month. So if a person settles for any menial job that pays $1,000gross p/mth - how is he or she to survive?
I think our gov lack heart for all the brains they have... -
You got that right about rising costs in general.Originally posted by mistyblue:yeah, CPF and withdrawal laws can be made/changed and approved by the govt, and effective immediately - no one dare to make a squeak and some don't even know of the changes. Come the bb-bombers retire, the law will definitely change once again to make it more and more difficult for the next group to take out any CPF. By the time I retire - or even get to retire, I might never ever take out a single cent.
In Singapore, its better to eat Hum and die quickly. The changes regarding medisave, the price of medicines suddenly shoot up and its not a few cents mind you. When the pharmacist was questioned, a vague answer that pricing are shooting up and therefore we have to expect to pay more.
Medicine price is going up, transport is going up, electricty tariffs going up, taxi charges going up... Cost of living going up. Employment rates are reportedly going up but what percent are Singaporeans is unaccounted for. Birth rates are sustained, but it is unreported if it is by locals or foreigners.
The wonderful thing about all that pre-election goodies and strong mandate - post election blues. Singapore is just full of fearful people.
But how are people to be NOT FEARFUL if the gov will thumb down anyone who dares question, criticize, or even protests against them and their policies?? When all that you worked for and held dear in your life, can be dashed by their almighty legal system??
It's pure TYRANY. Forget Democracy - it doesn't exist here...