13% of students who borrowed from parents' CPF accounts have
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Originally posted by _Aaron_:
correct i stress the importance of working for it and not relying on borriwng.
Justl like what you said earlier..
[b]I'm in the process of saving 25k within 5 years and yes i'm in poly now.
with my insurance bought by my parents added in and borrowing of 20k from my parents,it will be enough for it to pull me thro overseas uni.
Why borrow 20k from yr parents when you can work for it?
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i'm borrwing but it's merely a partial sum of what i need,probaly 20k from my parent.
What i see most kids doign nowadays are borrowing the entire sum of close to 100k for their overseas studies. -
Whether you like it or not, companies gun for people with a university degree for management positions etc.Originally posted by BillyBong:Ah...the wonders of studies....and the $$$ that is sucked along with it.
Our 'dreaded' education system's intent on paper qualifications plagues the heart of Singaporeans. Many still foolishly believes that a degree is the epitome of a solid starting pay and our people proliferate this flawed concept.
No wonder companies here are not paying more for experienced veterans.
As for more experienced veterans, the problem is that companies prefer a younger employee so that it can pay them less. I suspect this is particularly prevalent in local SMEs, which have a reputation for treating their employees like dirt. The big MNCs, excepting the Asian ones, have less of this problem -
I see.Originally posted by boka:correct i stress the importance of working for it and not relying on borriwng.
i'm borrwing but it's merely a partial sum of what i need,probaly 20k from my parent.
What i see most kids doign nowadays are borrowing the entire sum of close to 100k for their overseas studies.
While i understand where you come from, now that you're saying something alone the line of 100k..
Do you understand where i'm coming from when i say i'm only touching on diplomas, not universities?
The sums involved are quite different. This is about 6k in total. Lend 6k from parents CPF, then return when you're able to work and earn more, than what you get from O levels.. -
Ok i understand.Originally posted by _Aaron_:I see.
While i understand where you come from, now that you're saying something alone the line of 100k..
Do you understand where i'm coming from when i say i'm only touching on diplomas, not universities?
The sums involved are quite different. This is about 6k in total. Lend 6k from parents CPF, then return when you're able to work and earn more, than what you get from O levels..
I do know borrowing and seeking assistance is all needed to accomplish goals.
However,it is when one states that it is their rights that they demanded utmost support from their parents and seeing it as a natrual thing to do so.
It's the mentality. -
I agree with you on that point.Originally posted by boka:Ok i understand.
I do know borrowing and seeking assistance is all needed to accomplish goals.
However,it is when one states that it is their rights that they demanded utmost support from their parents and seeing it as a natrual thing to do so.
It's the mentality.
All i can say is that kids 10 years before(me), and kids now are very very different.
Though how a decade could have changed people so much i have no idea. -
Originally posted by _Aaron_:
This Ng Eng Hen is laughable. Haha. Haha.
13% of students who borrowed from parents' CPF accounts have not paid back money
[b]SINGAPORE: Manpower Minister Dr Ng Eng Hen said Tuesday that 13 percent of students who had borrowed from their parents' CPF accounts for tertiary education have not been able to pay back the money despite the Board's enforcement efforts.
How is this category of young Singaporeans going to start their own family? No wonder we need foreigners to sustain the economy's growth.
He stressed that only 40 percent of active CPF members turning 55 are able to meet their CPF minimum sum.
What but of course! HDB prices are sky high.
Hence, Singapore should help members set aside more CPF savings in the future, instead of allowing withdrawals for more purposes. - CNA/ir
Chee Soon Juan has mentioned this before. Shooting themselves in the foot?
Haha. -
You're not alone!Originally posted by LifeIsWonderful:I have got a deep suspicion that Singapore government keeps coming up with these CPF new rules and regulations so that we cannot touch our CPF money is because they invested our CPF money and do not have accessible money at the moment to return us, so coming up with these new laws and restrictions in order for us not to be able to take the money from our CPF accounts. -
exact sentiments.Originally posted by LifeIsWonderful:I have got a deep suspicion that Singapore government keeps coming up with these CPF new rules and regulations so that we cannot touch our CPF money is because they invested our CPF money and do not have accessible money at the moment to return us, so coming up with these new laws and restrictions in order for us not to be able to take the money from our CPF accounts.
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Ah yes...the 'cheap' solution to high wages - hire freshies to replace experienced and expensive staff, but ironically expect MORE from these untested newbies.Originally posted by Fingolfin_Noldor:Whether you like it or not, companies gun for people with a university degree for management positions etc.
As for more experienced veterans, the problem is that companies prefer a younger employee so that it can pay them less. I suspect this is particularly prevalent in local SMEs, which have a reputation for treating their employees like dirt. The big MNCs, excepting the Asian ones, have less of this problem
Unfortunate as it is, that is indeed reality. With costs inflating all round, the private sector must be the only one paying less for more...at the rate the govt sector continue to offer attractive starting pay, people will flock to the govt sector in herds. -
my parents actually dun mind whether i am repaying them back.
the stupid thing bout cpf is... u spend ur own family money, u have to pay interest back in cash? why cant i use my cpf to transfer to my parents?
afterall cpf is the money we have no idea where it goes to until we can no longer work.
no wonder now the government r increasing so many uni intakes. this is done so dat many of us will be in debt when most of us aint affortable the sch fee.
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Have u realised the government has this habit of using a reason or change f policy to cover up a previous unexplained issue?
and this cycles constantly repeats. -
Well I say screw the government.
It is our money and we jolly well decide what to do with it. If they really "care" so much about the citizens, go do something for the citizens, go do something for the old aged.
Stop torturing the young and the old at the same time.
STUPID USELESS PAP. USELESS CRAP. -
Originally posted by bigmouthjoe:
go on riot! vote them out!
Well I say screw the government.
It is our money and we jolly well decide what to do with it. If they really "care" so much about the citizens, go do something for the citizens, go do something for the old aged.
Stop torturing the young and the old at the same time.
[b]STUPID USELESS PAP. USELESS CRAP.[/b] -
I AM UTTERLY SICK AND TIRED OF HEARING SO MUCH CRAP COMING FROM THOSE SICK HORSES' MOUTH.
SOMEONE OUGHT TO GIVE THEM ONE TIGHT SLAP! -
how to meet cpf minimum sums when the pay is so low? they make it sound like, when one doesn't meet minimum sums, it is our fault and den lock up the cpf longer.
its like... when anything goes wrong, lock the cpf longer, hike public transport, hike gst, hike tax, hike this hike that. instead of hiking can't they do something else? if people cannot meet cpf minimum sum, can't they access further more or do something that is more practical rather than being $$$ face? probably find out the reasons such as because they dun earn much, then the government can use their resources to upgrade this person knowledge or skills so that he can get a better job with a better pay thus putting more cpf and make the statistics look better. well~ its just a suggestion. might not be cost effective cuz i dun have the resources to do statistics. -
the students can use their cpf to transfer back to their parents' cpf accounts once they start working instead of paying cash (wif interests somemore).
fucking government really know how to suck hard-earn money from the pple. fucktheirmothercheebye! -
i think this policy is crap. ya if the family is cpf rich but cash poor, shouldnt they use their CPF. what for keep so much $ for retirement, and suffer now? screwed reasoning seriously.
elites will have enough $ so education for them is more or less guaranteed. however i am from lower income family, if i cant use my parents cpf, how the fvk am i suppose to survive? so while the poor are slogging their guts out to earn $ for education, the elites will be having fun and enjoy. what is the consquences of this policy? driving the income range wider? so that the elites will always be elite while the poor always be poor? dont say what can study and be successful, studying and working is very tedious. and when u r deprived of the chance to study because of some fvking retirement fund for your parents, then what am i going to do? start working at 1k per month so that i can also save for my fvking retirement when i not even sure if i can survive daily until then.
dont give me crap that we can go work before poly. the amount earned before poly lets say , 1k? after poly it will be 1k + . wouldnt it be wiser to study first before working given that i will earn more in the same amount of time?
what for live so miserably just so that we can be "assured" of our retirement fund, what makes u think that the retirement fund will even be used. what if something untowards happen because we cant survive? sure u have read about the man who suicided on the mrt tracks.
seriously think that the government of singapore really needs to be in touch with the working class. maybe a change in government can void all this rubbish policies.
to survive in singapore, you must be FT or elite. working class have no say. -
I'm going to say u don't have a choice under such circumstance.Originally posted by bladez87:i think this policy is crap. ya if the family is cpf rich but cash poor, shouldnt they use their CPF. what for keep so much $ for retirement, and suffer now? screwed reasoning seriously.
elites will have enough $ so education for them is more or less guaranteed. however i am from lower income family, if i cant use my parents cpf, how the fvk am i suppose to survive? so while the poor are slogging their guts out to earn $ for education, the elites will be having fun and enjoy. what is the consquences of this policy? driving the income range wider? so that the elites will always be elite while the poor always be poor? dont say what can study and be successful, studying and working is very tedious. and when u r deprived of the chance to study because of some fvking retirement fund for your parents, then what am i going to do? start working at 1k per month so that i can also save for my fvking retirement when i not even sure if i can survive daily until then.
dont give me crap that we can go work before poly. the amount earned before poly lets say , 1k? after poly it will be 1k + . wouldnt it be wiser to study first before working given that i will earn more in the same amount of time?
what for live so miserably just so that we can be "assured" of our retirement fund, what makes u think that the retirement fund will even be used. what if something untowards happen because we cant survive? sure u have read about the man who suicided on the mrt tracks.
seriously think that the government of singapore really needs to be in touch with the working class. maybe a change in government can void all this rubbish policies.
to survive in singapore, you must be FT or elite. working class have no say.
because if you are going to keep emphasizing such scenarios,it is very easy for me to say why aren't the banks giving me a full pledge loan so i can study through uni instead of working my guts out with a diploma?
wouldn't it be so much better if i can get my degree and get a higher paying job to return that loan?
In life when u don't hve a choice u make full use of what u have to your advantage to acheive what u want.
As said earlier,my white uncle in britatin earns only 5k+ in the uk and he is unable to get a loan for her daughter.
So what did they do?
the daughter flip burgers throught university.
That should be the spirit.
U cant use what u gonna obtain as a reason to convince others to give u wat u need.
Because if that is the case,wouldn't it be a smooth ride to go to the bank asking loans to set up a MNC and telling them your gurantor is the future sucess of the company itself.
What crap! -
Precisely.Originally posted by _Aaron_:Isn't that the greatest reason why we are allowed to dip into the CPF of our parents for a loan, in which we return later via instalements when we're working?
And i like what walesa said, "Why should the state be allowed to dictate how parents could help their children out with their own money?"
This government only feels the pinch when it is economically under fire. This is the clearest observation.
Singapore system of governance? A fallacy for most parts I tell you. -
now can only pay by cash.. which is really stressful.. already feel the stress now even tho i have not started paying yet..
if only we can pay via cpf deductions.. then i dun have to worry about my financials liao. I dun mind paying the full amount one shot using my CPF.. so that I will have more cash for savings.. -
yalorOriginally posted by 798:my parents actually dun mind whether i am repaying them back.
the stupid thing bout cpf is... u spend ur own family money, u have to pay interest back in cash? why cant i use my cpf to transfer to my parents?
afterall cpf is the money we have no idea where it goes to until we can no longer work.
no wonder now the government r increasing so many uni intakes. this is done so dat many of us will be in debt when most of us aint affortable the sch fee.
wana go further studies also scared scared..
haven even repay my poly fees.. duno how long then can clear.. dun dare to think abt degree..
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to dated, i have this cpf loan, computer loan n study loan (ocbc), it will take me a long time to repay back.Originally posted by browniebaobao:yalor
wana go further studies also scared scared..
haven even repay my poly fees.. duno how long then can clear.. dun dare to think abt degree..
imagine i was irritiated like hell by cpf board of sending me letters over n over again to pay up during my uni days every 6 sems. n i had to waste time sending them defer letters to tell them i am still studying.
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I can tell you what is crap. What you said is pure crap. Why don't you say that they should scrape the CPF all together since it is no use, anyway we can all pick cans and flip burgers till the day we die... since we are so full of spirit!Originally posted by boka:As said earlier,my white uncle in britatin earns only 5k+ in the uk and he is unable to get a loan for her daughter.
So what did they do?
the daughter flip burgers throught university.
That should be the spirit.
U cant use what u gonna obtain as a reason to convince others to give u wat u need.
Because if that is the case,wouldn't it be a smooth ride to go to the bank asking loans to set up a MNC and telling them your gurantor is the future sucess of the company itself.
What crap!
The CPF is our money, if I want to use MY CPF for MY CHILD so that he or she can have a good future, it is MY DECISION. You go babysit your own freaking child and LEAVE MY CHILD'S FUTURE ALONE OK?!
What crap! -
Why are these idiots still running the country?
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I think everyone is more afraid of the present, when we're having problems with $ NOW, then later in the future, 30-40+ years later when we're thinking about retirement.
But seriously, even if we do take a loan from our parent's CPF, why on earth do we need to return it with Interest? I mean, isn't it our parent's money? We should know what to do with our CPF instead of the govt running it for us..
No wait, the govt has after all been running our lives all the while. So we should always rely on the govt for an answer... and what they do is always right.
Isn't that what they're teaching in schools? Why else do we have this mentality that the govt should be doing everything for us?
Oh yea, i forgot, they're being paid 2.2 mil a year too.
Thing is, its our CPF, our account. Please don't restrict it further until its of NO use, except for GIC and Temasek. Please.
For the sake of the future, let us free..~