Annuities Protest
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Originally posted by EarlNeo:The problem is simple.... cpf is our money... if we cant even have a said of how we spend our money.... do u think that is rite? and do u think there isn't any problem with that?
Please do me a favor and copy and paste the following and email to 10 people:
If you want to leave more money for your children instead of giving it to the government, send this email to 10 of your friends.
Click to link: CPF Annuity - another hidden tax
Columns by Andrew PK Yap -
No, the GoodEarth makes enough crap to confirm you r bull-sh....ting.Originally posted by Atobe:[b]
If this is not enough to confirm the crap that makes the earth good... -
Finally an admission to your being nothing more then a pile of crap.Originally posted by TheGoodEarth:
Quote: Originally posted by Atobe:
If this is not enough to confirm the crap that makes the earth good...No, the GoodEarth makes enough crap to confirm you r bull-sh....ting. -
Here is a refreshing food from a blogger on the CPF issue for those suffering indigestion from too much force fed crap:-
Are there systemic problems in our CPF system?
Posted by theonlinecitizen on August 29th, 2007
By Leong Sze Hian
I refer to the article “Flexible, basic and cheap annuity scheme” (Today, Aug 27).
Instead of spending the $750 million a year to pay the additional 1 per cent interest on the first $20,000 of the CPF Ordinary Account, and $40,000 of the Special, Medisave and Retirement accounts, growing these sums at say 5 per cent interest will accumulate to $67.7 billion in 2042 (the first year that the compulsory annuity will start at age 85, for those who are below 50 years old now).
This amount can at 5 per cent interest provide $300 a month from age 85 to 100, for 1.79 million Singaporeans.
By age 100, about 99.9 per cent would have died.
In fact, as many will die as they grow older, beyond age 85, more than 1.79 million people can receive the $300 life annuity.
Even if the resident population grows at 3 per cent per annum for the next 35 years, will there be 1.79 million or more Singaporeans over age 85 in 2042?
According to the Cremation Association of North America (link), the life expectancy for “White (race) Both Sexes”, at birth, age 55, 65 and 85, is 77.7, 26.2, 18.2 and 6.4 years, respectively.
In other words, the 50 per cent survival probability for someone at birth is 77.7 years, and someone who is age 85 has a 50 per cent chance to be alive at age 91.4.
Therefore, under the proposed deduction of the compulsory annuity premiums at age 55, the percentage still living at age 85 may be less than the stated 50 per cent, because the 50 per cent probability would have been reached at age 81.2 for this cohort.
Only the age 70 cohort has an almost 50 per cent probability level of survival of 14.7 year, at age 84.5.
It was reported in Parliament on 27 August (“Minimum Sum : Figures show many don’t meet the mark”, Straits Times, 28 August), that :
“Only one-third of CPF members who turned 62 last year met their Minimum Sum (MS) requirement when they reached the age of 55 in 1999. Manpower Minister Ng Eng Han said that of the 22,600 CPF members who turned 62, 7,600 - or 34 per cent - were able to meet their MS, which in 1999 was set at $ 60,000. The remaining 15,000 members who did not meet the MS had a median shortfall of $ 49,300”.
Does this mean that despite the 4 per cent accumulation, and new CPF contributions for those who were working beyond age 55, 66 per cent could not meet the $ 60,000 MS, and 33 per cent had less than $ 10,700 at age 62 ?
“He (Manpower Minister) noted that one important reason why many members fell short of the MS is the current rule letting them withdraw half of their CPF savings at age 55”.
Phasing out “the current rule letting them withdraw half of their CPF savings at age 55”, delaying the MS monthly payouts to 65, and the compulsory deferred to age 85 life annuity purchase, may just be reactive ad-hoc measures, to address a fundamental core problem.
Are there systemic problems in our CPF system ?
Are HDB flats priced such that they are eating up too much of the average SingaporeanÂ’s CPF ?
Are there too many Singaporeans who lose their CPF life savings, when their HDB flats are foreclosed ?
Are we paying too low an interest rate on CPF ?
Why is it that according to the AXA Global Retirement Study, Singaporeans are the highest savers in the world, but have the lowest income in retirement ? -
As Gazelle the 2nd, I must congratulate on your ability to shout while still being ignorant.Originally posted by TheGoodEarth:hahahha, you have not offered anything .... just wild claims. My basic questions you eilat, cannot answer at all. But you are good at projecting. That's all you can show!
You are so clever in investment, how come you are so miserable that even $10,000 for an annuity is such a big deal for you when you can easily make $$millions with your investment???
Like a I said: be a good samaritarian, tell us how to make so much money like you. What's your point of you calling me names? I can also call you name, a kid can also do better than you in calling names. Come on, you have nuthing but just a load of personal gripes and political vibes!
Its very simple. If I value a thing at $10,000 and i think its worth it, I won't hesitate to pay for it. However, if I find that an increase of 10 cents to an item is unreasonable, then I won't even buy it, even though I can afford it many times over.
Your argument above only goes to show how much you do not understand the value of money. You probably enter the ranks of people who appear in the TV interviews "Its only 10 cents increase. Never mind". People like you are the ones that cause the cost of living to spiral upwards in this small island.
Anyway, you have nothing but personal gripes of opposition voices and a senseless support of the current govt.
How to make more money? Go and read some useful books, and learn how to apply the knowledge. Too many people sit around waiting for others to tell them what to do. What works for one person does not work for another. Each person must cultivate his own methods of accumulating wealth.
"God rewards those that put in effort" is pretty true. How many people can be so lucky as to hit TOTO and get $1million? Its better to learn how to amass wealth thru sensible ways (saving, investing). -
You are super in projecting. But answering simple questions, cannot lei! Just eilat only. Since you are so klever with outvestment, you can't tell us to make millions but just to make 10cents?Originally posted by soul_rage:As Gazelle the 2nd, I must congratulate on your ability to shout while still being ignorant.
Its very simple. If I value a thing at $10,000 and i think its worth it, I won't hesitate to pay for it. However, if I find that an increase of 10 cents to an item is unreasonable, then I won't even buy it, even though I can afford it many times over.
Your argument above only goes to show how much you do not understand the value of money. You probably enter the ranks of people who appear in the TV interviews "Its only 10 cents increase. Never mind". People like you are the ones that cause the cost of living to spiral upwards in this small island.
Anyway, you have nothing but personal gripes of opposition voices and a senseless support of the current govt.
How to make more money? Go and read some useful books, and learn how to apply the knowledge. Too many people sit around waiting for others to tell them what to do. What works for one person does not work for another. Each person must cultivate his own methods of accumulating wealth.
"God rewards those that put in effort" is pretty true. How many people can be so lucky as to hit TOTO and get $1million? Its better to learn how to amass wealth thru sensible ways (saving, investing). -
No, no. It is an admission that more than a pile of crap is needed to burry your bull-sh....t!Originally posted by Atobe:[b]
Finally an admission to your being nothing more then a pile of crap. -
shows how bad your english is, and how you don't read my posting properly. Since when was I talking about making millions and 10 cents?Originally posted by TheGoodEarth:You are super in projecting. But answering simple questions, cannot lei! Just eilat only. Since you are so klever with outvestment, you can't tell us to make millions but just to make 10cents?
I suspect I will waste my time again, but I will just continue anyway for the benefit of the doubt that you will read carefully this time.
Basically, if you are really interested, I can recommend books and ways to apply the knowledge. But I suspect you aren't, so I am not wasting time writing down my advice here.
The term "Knowledge is power" is only partially true. Those who can apply the knowledge learned can do what others cannot do. That is very true.
So enlighten me, what's the 'simple' question you are asking? Your barrage of nonsense makes it difficult to identify what is your true objective. -
Please do me a favor and copy and paste the following and email to 10 people:
If you want to leave more money for your children instead of giving it to the government, send this email to 10 of your friends.
Click to link: CPF Annuity - another hidden tax
Columns by Andrew PK Yap -
It will be compulsory for all Sillyporeans unless you plan to quit Sillypore and throw the passport into the Kallang river opp ICA....I suuest you do that like what many thousands of us have already done....best part is...we can withdraw our CPF fully, courtesy of a cheque from DBS....Originally posted by reddressman:Hello,
can anyone tell me when will Annuity be made COMPULSORY as in a MUST to buy for everyone, rich or poor?
I mean, I am almost certain it will be COMPULSORY. When?
I think Low et al argue also no use wan lah. but then this is my humble opine only.
Look....even DBS's CEO has already skipped town....not too sure if he is local or not but the fact is that he quit to join his family in the US goes to show that he is not stupid to stay in Sillypore(if he is not a local and that Sillypore prefers FTs to run its local bank), or if he is local, then Sillypore is certainly not the place to stay and raise a family. Period. -
Knowledge where got power one? If got, no need to pay PUB - just go libraries. Libraries are full of knowledge, and foreign libraries have more knowledge. You got so much knowledge, yet can't answer my simple questions, so where got power?Originally posted by soul_rage:shows how bad your english is, and how you don't read my posting properly. Since when was I talking about making millions and 10 cents?
I suspect I will waste my time again, but I will just continue anyway for the benefit of the doubt that you will read carefully this time.
Basically, if you are really interested, I can recommend books and ways to apply the knowledge. But I suspect you aren't, so I am not wasting time writing down my advice here.
The term "Knowledge is power" is only partially true. Those who can apply the knowledge learned can do what others cannot do. That is very true.
So enlighten me, what's the 'simple' question you are asking? Your barrage of nonsense makes it difficult to identify what is your true objective. -
I think that we should stand up for our rights and kick out one or two ministers...
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hahaha, DBS CEO skipped town? Hope my shares don't skip down too!Originally posted by Coquitlam:It will be compulsory for all Sillyporeans unless you plan to quit Sillypore and throw the passport into the Kallang river opp ICA....I suuest you do that like what many thousands of us have already done....best part is...we can withdraw our CPF fully, courtesy of a cheque from DBS....
Look....even DBS's CEO has already skipped town....not too sure if he is local or not but the fact is that he quit to join his family in the US goes to show that he is not stupid to stay in Sillypore(if he is not a local and that Sillypore prefers FTs to run its local bank), or if he is local, then Sillypore is certainly not the place to stay and raise a family. Period.
Actually, if more knowledge=power people skip town like Jackson, I would have more space in MRT, food-courts, libraries and maybe CPF can pay me additional 2% instead of 1% ???? -
Originally posted by TheGoodEarth:
Quote: Originally posted by Atobe:
Finally an admission to your being nothing more then a pile of crap.------------------------------------------------------------------------------------------------------
No, no. It is an admission that more than a pile of crap is needed to burry your bull-sh....t!
[/quote]
Read what you posted earlier - as shown below, which carried with it a totally different meaning from what you are attempting to change now from 'confirm' to 'burry'...
You are surely making some strenuous efforts to make more crap to better your present self.
Did the Gazelle crap turn into a pile of GoodEarth now ?
[quote]Originally posted by TheGoodEarth:
No, the GoodEarth makes enough crap to confirm you r bull-sh....ting. -
so funny, you don't even dare to repeat your questions.Originally posted by TheGoodEarth:Knowledge where got power one? If got, no need to pay PUB - just go libraries. Libraries are full of knowledge, and foreign libraries have more knowledge. You got so much knowledge, yet can't answer my simple questions, so where got power?
Repeat them here, or admit yourself to be a coward with endless mutterings that don't make any sense
Your statement above, by the way, shows how naive you are. You don't understand what knowledge brings.
I question whether you have heard of Sun Tzu's Art of War. Probably you don't even know what that is. -
yayaya, papaya - my questions are all over the place - if you had answered I won't bother to ask. Me naive? I suppose you don't drink Evian?Originally posted by soul_rage:so funny, you don't even dare to repeat your questions.
Repeat them here, or admit yourself to be a coward with endless mutterings that don't make any sense
Your statement above, by the way, shows how naive you are. You don't understand what knowledge brings.
I question whether you have heard of Sun Tzu's Art of War. Probably you don't even know what that is.
Wah, people read Sun Tzu - think can do war with me, arh? -
No I don't intend to do war with you, coz its not worth my time.Originally posted by TheGoodEarth:yayaya, papaya - my questions are all over the place - if you had answered I won't bother to ask. Me naive? I suppose you don't drink Evian?
Wah, people read Sun Tzu - think can do war with me, arh?
People who understand the Art of War understands what it means by Knowledge is Power. -
Knowledge is power. Calmness and wit is strength.
Inane questions show a sign of weakness, or trying too hard to appear like the Other. -
If more people as knowledgable like DBS CEO went to live in other countries, itOriginally posted by TheGoodEarth:hahaha, DBS CEO skipped town? Hope my shares don't skip down too!
Actually, if more knowledge=power people skip town like Jackson, I would have more space in MRT, food-courts, libraries and maybe CPF can pay me additional 2% instead of 1% ????
will be a loss to Spore as especially he is a talent. Spore is in need of many
talented people like DBS CEO though. -
No lah, not a waste of time. When you do war with me, your knowledge of art will be under my power.Originally posted by soul_rage:No I don't intend to do war with you, coz its not worth my time.
People who understand the Art of War understands what it means by Knowledge is Power. -
don't make senseOriginally posted by TheGoodEarth:No lah, not a waste of time. When you do war with me, your knowledge of art will be under my power.
shows that this person cannot hold a sensible argument. -
CNA yesterday broadcast PAP's forum with people who I not sure come from where but one guy went to the mike and posed a 'question' to LHL and actually not a question but support for the PAP's Annuity saying retirees if allowed to take out all their money after retirement will BAO XI (sure die) and lose all their cpf in the Casino which I believe is also a PAP idea.
So, people who watched their 'telecast' will also feel the same lah : Compulsory Annuity is the right thing for ALL singaporeans who may live to 85.
feel free to correct me if wrong understanding or if there is misunderstanding.
If 'sure die' should there not be a law to block all retirees from betting in the upcoming casino of sg? they can still enter but never be allowed to bet. How is that? Why allow retirees to bet in this case?
I puzzled like sotong leh. I super naive singaporean.
I see the key is to educate/inform the general politically unsavvy and apathetic majority what the Compulsory Annuity policy is all about in a concise and clear way.
I was given an impression that if retiree dun buy compulsory annuity, they will BAO XI at Casino. But then there are those who never will gamble at casinos even though its freely and easily accessible to them in the past and now : Genting, Indonesia, Macau etc. Well, since Compulsory Annuity is said to be so solid. I can only sigh it never was implemented although many countries in the world , even many 3rd worlds, have already implemented. Why delay such wonderful thing for singaporeans to enjoy? Why now?
Anyway, late better than never . I hereby CONGRATULATE ALL SINGAPOREANS who will be the 1st in singapore history to be enjoying the marvellous like milo COMPULSORY (no Opt-Out even if you want to badly
not in your life ) Annuity.
YOU Deserve IT! ALL 100% of it. Cheers!
Viva la Democrazi!
The Flavor you have chosen. So tastey. You're so cute!!! Your children also. -
LOL. You must be a kid, still.Originally posted by TheGoodEarth:No lah, not a waste of time. When you do war with me, your knowledge of art will be under my power.
Just what are you talking?
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Anuities is yet another scheme that PAP want to scam our CPF money,simple as that!!!And that Lee Hsien Loong say he wont scam our "cheap money".LOL,of coz our money to him is cheap,he is a silver-spoon kid what,when does he have to worry about money?
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Hmmm .... interesting. How would you stand up for your rights? And how to kick the ministers?Originally posted by AndrewPKYap:I think that we should stand up for our rights and kick out one or two ministers...