?Many say LHL addressed difficult issues confronting Spore?
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Ya, what happens if we forced to buy annunity & found out we have terminal disease, can we take back the money?Originally posted by Lin Yu:the annutity may be a solution by people's power to see themselves thru the old age with the some $500 dollars a month but that is provided that you live that long without any sickness. No address was made to the escalating health cost which come hand in hand with aging.
He painted a picture whereby you live long and die just tomorrow without any sickness
Also don't like the idea why when I die, my $$ goes to other people and not my kids. My kids also need all the help they can get. -
i also dun want my money goes to others. our kids need cash. we raise kids just to let them die...?????because of birth rate?????why not the ministers give birth to hundreds as they are rich
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just realised the system is really not doing me good if I work hard and earn lots of money because at the end, I don't get much back and whatever uncollected (which is alot of it) goes back to the system. The system is just encouraging me to become a slacker because of the hugh amount of negative incentives for being successful which promotes people to migrate.
this rally didn't address a number of issues. just major bad news which is covered under "Its for your own good" once again. -
I think your question brought up is an important one.Originally posted by gerrykoh:Ya, what happens if we forced to buy annunity & found out we have terminal disease, can we take back the money?
Also don't like the idea why when I die, my $$ goes to other people and not my kids. My kids also need all the help they can get.
i also like to know.
Does it mean that even in LIFE and DEATH situation, as long as a human being is not yet 67, he cannot access his CPF savings?
Likewise does it mean the same if this human being is not yet 87, he cannot completely withdraw what is remaining ?
DIE DIE must age till 87 year old before the last 'installment' of 500 / 700 can be returned back to the owner's wallet?
So, if this human being dies before 87, he never get to receive all his hardearned money? -
Well said. So we the normal citizens will have to work our asses till 85 inorder to support the "life-long million-dollar annuities caused by years of pushing for their own pay increases, life-long rewards and extravagant public spending, at the expense of providing for social and medical needs of the people who have contributed to the national coffers all these years."Originally posted by robertteh:It is the same kind of speech year after year - Singapore did well, Singaporeans must change their mindset, Singapore cannot compete without the foreigners or foreign investments and there must be sacrifices made for the raining days etc etc.
In this way, all the problems will be covered up by a nice picture painted.
Ageing population is a burden to the state.
What he did not say are these :
"In order to continue running the government and pay for the lesser number of babies and increasing proportion of ageing population, there will be problems in taxing and funding for high costs of running the government and paying for retired ministers' life-long million-dollar annuities caused by years of pushing for their own pay increases, life-long rewards and extravagant public spending, at the expense of providing for social and medical needs of the people who have contributed to the national coffers all these years.
So to solve all these future problems, Singaporeans must change their mindset and not to expect to retire too early (without necessarily guaranteeing their re-employment after 55) so that whatever happen they must sacrifice again this time by collecting their retirements later until 67,
Our leaders have really lost their touch of compassion being too comfortably provided for by the citizens and losing all their sense of understanding the plight of many who are reaching retirement age but with their prospect of living their fruitful retiring years dashed. -
The ans is YES, you will never even get to smell your own hard earned money. We should do something, together. I will never vote for PAP ever. Everytime after the polls....GST, CPF....whats next?Originally posted by LimSianTong:I think your question brought up is an important one.
i also like to know.
Does it mean that even in LIFE and DEATH situation, as long as a human being is not yet 67, he cannot access his CPF savings?
Likewise does it mean the same if this human being is not yet 87, he cannot completely withdraw what is remaining ?
DIE DIE must age till 87 year old before the last 'installment' of 500 / 700 can be returned back to the owner's wallet?
So, if this human being dies before 87, he never get to receive all his hardearned money? -
Sure u can be slacker... but must live long to rip the benefit. Secaly too many ppl live over 85yrs old... then the MIW change law to 85yrs old then u get ur $$... we also LanLan... With current medisave scheme, once used up better dun fall sick, else if u do, sure die one lah... the $500 cant even last 2days staying in class C ward.Originally posted by mistyblue:just realised the system is really not doing me good if I work hard and earn lots of money because at the end, I don't get much back and whatever uncollected (which is alot of it) goes back to the system. The system is just encouraging me to become a slacker because of the hugh amount of negative incentives for being successful which promotes people to migrate.
this rally didn't address a number of issues. just major bad news which is covered under "Its for your own good" once again.
So if wanna be a slacker... have to be a very health slacker that do a lot of excerise.
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slacker at work lah.
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Talk not need money... action need thus they dkip the actions and increase their paid.
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Solution is do what you need to do on election day. You have a choice. Meanwhile, those 66.6% please don't be unhappy and make noise about what your preferred choice is doing to us, for you people have made the choice to allow us to be treated such.
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Originally posted by qlqq9:
Is it correct to say that cpf min sum of 120K applies to all?
Solution is do what you need to do on election day. You have a choice. Meanwhile, [b]those 66.6% please don't be unhappy and make noise about what your preferred choice is doing to us, for you people have made the choice to allow us to be treated such. [/b]
What happens to the excess of 120K cpf?
I am still unclear how the withdrawal is like.
What I know is everyone will retire and draw 500 / 700 a month only . Does this also mean that this 500 / 700 drawable applies to everyone regardless of your social status , lifestyle, size of your house, monthly maintenance and expenditure level ? I think it is.
And 120K is meant to be drawn over 20 years ? But I calculate:
20 * 12 * 700 = 168K.
So, can someone advise me is it not true that min sum of 120K is INSufficient to cover 20 years?
For cpf accumulated in access of 168K, what happens? Is that amount withdrawable at age 67 (I assume 67 applies to all of you now younger than 50)? To illustrate, lets say at 67, your cpf is 200K and you only allowed to take back 700 a month. Over 20 years, you can only take back 168K based on this calculation. What happens to the balance? when can that be withdrawn, if ever?
Why as a old old man, highly experienced in work, cannot be entrusted to manage his own cpf even after say, 79 years old? die die have to slowly withdraw 700 a month? So, constant? So predictable is life? No Life and Death situation requiring $701 to save your own life? -
Yes, most of the issues PM spoke are related to money.Originally posted by drawer:Lee Hsien Loong only know one thing:Money!!!He and his father everytime talk to Singaporeans about money one,that is the one thing they never fail to do!!!!
But he did say some words which are not related to money.
1. He said he agreed with Zaobao that learning Chinese lanaguage should not be motivated by money alone.
2. He said Prof Anne Wee wanted a good death -- ho si (in Hokkien). -
Is it correct to say that cpf min sum of 120K applies to all?
Well , this is my understanding of how the whole thing works. You can withdraw your CPF savings when you are 55 years old, provided you leave behind what is known as the minimum sum. From 55 years to 62 (going to be raised to 67) you will not get anything from CPF. when you hit 62, the CPF board will start repaying whatever (the min sum + interest earned from 55 to 62years) remaining sum you have, in monthly installments over the next 20 years(untill 82 years).
What happens to the excess of 120K cpf?
I am still unclear how the withdrawal is like.
What I know is everyone will retire and draw 500 / 700 a month only . Does this also mean that this 500 / 700 drawable applies to everyone regardless of your social status , lifestyle, size of your house, monthly maintenance and expenditure level ? I think it is.
And 120K is meant to be drawn over 20 years ? But I calculate:
20 * 12 * 700 = 168K.
So, can someone advise me is it not true that min sum of 120K is INSufficient to cover 20 years?
For cpf accumulated in access of 168K, what happens? Is that amount withdrawable at age 67 (I assume 67 applies to all of you now younger than 50)? To illustrate, lets say at 67, your cpf is 200K and you only allowed to take back 700 a month. Over 20 years, you can only take back 168K based on this calculation. What happens to the balance? when can that be withdrawn, if ever?
Why as a old old man, highly experienced in work, cannot be entrusted to manage his own cpf even after say, 79 years old? die die have to slowly withdraw 700 a month? So, constant? So predictable is life? No Life and Death situation requiring $701 to save your own life?
For eg at 55 you have 200k in your CPF, and say the minimum sum is 90k. Which means you can withdraw 110k and leave the min sum 90k behind. when you are 62 years this 90K+ interest will be payed over 20 years (375/m).
The amounts that i have used might not be accurate but i hope you get the picture. -
The govt also supported the idea of having a fourth university to cater to local poly student cause there is a case of this couple who have two children
after graduating from poly tried to gain entry into the local universitites but cannot make it end up going to other countries to study for their degrees. It seemed the children refused to come back here after studying in their host countries. The poly n ITE highly valued by other countries n if poly students go to other countries to study, chances of them going back here is not high. -
3. He also spoke about "teach less learn more" in schools.Originally posted by PRP:Yes, most of the issues PM spoke are related to money.
But he did say some words which are not related to money.
1. He said he agreed with Zaobao that learning Chinese lanaguage should not be motivated by money alone.
2. He said Prof Anne Wee wanted a good death -- ho si (in Hokkien). -
All Primary & Secondary school teacher suddenly all become "lecturer's"
all no need to teach any more
just step into class
hand out all question paper.
tell the whole class when the date line for them to submit their project.
when is their turn of presentation.Originally posted by PRP:3. He also spoke about "teach less learn more" in schools.