Why when u r dead, money go to Pool and not your children?
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A stranger asked me this.
I said I dunno, as usual. I am a super supporter of them. I never can find any reason to blame them for anything. They too good ah.
So, I ask you guys lor, the ones who are more smarter than me.
Why why tell me why har?
The stranger asked me also, when you die b4 85, does it mean that 'YOUR CPF money' is compulsorily donated to the Pool? double compulsor? double the joy? twin peaks? two good to be true? two is better than 1? hee hee I no no leh.
So, I told the stranger, dun worry too much. Just accept my congratulations. Annuity good good one. super duper good good for you and all your future generations to cum. -
What/Which money are you referring to?
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izit? i oso dun noe..
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See Pee 'F'.Originally posted by Darkness_hacker99:What/Which money are you referring to? -
if govt dont get money from ppl who die before 85 who is going to fund paying ppl who live beyond 85? u think the PAP is going to pay? where do you think part of the money will come from?
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what pool?
liverpool or swimming pool??? -
So, you are saying that you can nominate your cpf to your children when you happen to die b4 85?Originally posted by Darkness_hacker99:
Thus you can see my stranger friend's dilama. He not sure what is the Pool and unclear about the report saying when you die b4 85, what's left in your cpf goes into a pool for those surviving. 'Those surviving' means what har? Anybody like a shot at this dilama? -
definitely not hong pool.Originally posted by dragg:what pool?
liverpool or swimming pool??? -
If those people do not have the money, they SHOULD work themselves not getting other Singaporeans to pay for them?
What a nice idea eh? Government getting the civilians to give money to each other to spend while they themselves enjoy the money they earned from investment?! not to forget their fat salary.
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-__-"Originally posted by reddressman:So, you are saying that you can nominate your cpf to your children when you happen to die b4 85?
Thus you can see my stranger friend's dilama. He not sure what is the Pool and unclear about the report saying when you die b4 85, what's left in your cpf goes into a pool for those surviving. 'Those surviving' means what har? Anybody like a shot at this dilama?
Pool means something like gather..
Gather the money for those surviving..
Meaning it'll be split to the surviving childrens/parents. -
I guess you've mixed up with the Singapore Pools.
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they basic philosophy is singaporeans should help one another. dont depend on the govt as welfare is a dirty word.Originally posted by Y_Shun:If those people do not have the money, they SHOULD work themselves not getting other Singaporeans to pay for them?
What a nice idea eh? Government getting the civilians to give money to each other to spend while they themselves enjoy the money they earned from investment?! not to forget their fat salary. -
if i die before reaching 85, my CPF goes to my wife. if my wife dies before 85, both my wife and my cpf goes to my son. If my son dies before 85, his CPF, together with mine and my wifes, goes to his son/daughter.
the thing just keep snowballing. when can an average singaporean sees his CPF? -
It is just another one of their bloody hidden taxes... http://newsintercom.org/index.php?itemid=550
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and if his son/daughter is single without dependent, ........................Originally posted by fishbuff:if i die before reaching 85, my CPF goes to my wife. if my wife dies before 85, both my wife and my cpf goes to my son. If my son dies before 85, his CPF, together with mine and my wifes, goes to his son/daughter.
the thing just keep snowballing. when can an average singaporean sees his CPF? -
dunno, i think gib my kids to keep lorh.
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No thanks to this MIW government for making the issues even murkier and dropping misleading hints by some ministers, only to be made more confusing by the PM asserting a differring opinion - {until his statement made in public is legislated}.
The CPF nomination will remain valid for whatever monies that remain in the CPF - AFTER the minimum sum is deducted from each Singaporean's CPF account for the Annuity Program to look after ourselves during the Old Age.
PM LHL had come out clearly to give his opinion that when one dies, the remaining amount left in the Annuity Program will not be refunded to the surviving members of the Family.
If one enters the Annuity Program with $10,000 and only to receive the first month payment of $250, and die - of starvation or boredom - during the first month, then the remaining $9,750 will not be returned and will stay in the Annuity Pool for the benefit of others {which include your family members if they do not inherit your genes in dying so early}.
Is this another form of tax as suggested by AndrewYap, or is this not a daylight robbery to cover for the big hole that the flawed CPF scheme has created ?
The CPF scheme depends on a constant increasing number of new members paying monthly contribution to cover the hole that is created by the large amount of saved up money, and which the few retiring Singaporeans will draw when they reached age 55 years - {as promised in the original CPF Scheme}.
Can such a scheme be possible - with a declining population, and with the CPF money utilised and stuck in low-interest government bonds paying for the dead immovable assets in the form of infrastructure investments ?
So many changes have been made to delay the payout of the lump sum due to Singaporean on the legislated retirement age. The retirement age was constantly changed from Age 55 to Age 60, then moved to Age 65.
The present Annuity Scheme is a master stroke that do not require any payout, but take from every Singaporean a sum of $10,000 that will not be returned.
With an estimated population of 2,000,000 Singapore Citizen workers, and 1,000,000 foreigners - the government will pocket $30,000,000,000 at a single stroke of the pen to sign this scheme into legislation.
This is enough to cover all the holes that this MIW government has created from Shin Corp to Suzhou.
If this scheme is not another obvious act of breaking a promise given to Singaporeans since 1957 - what other acts is more obvious ? -
1) They claimed that out of 200 persons, 1 will live beyond 85. That means 200 is going to contribute into the pool. If each person contribute $5000 (which LHL said) into the pool, you have $1,00,000. So how much is this lucky 1 person who out live 85, going to receive from the pool? Is he going to live till 100? Even if he lives to 100, how much is he going to collect from the pool on a monthly basis? Assuming he receives $500 per month for 15 years, he collected $90,000. The surplus will be $910,000.
2) Since this money goes into the pool, there is no owner. Who then will manage it?
This is like a saving banks for the gahmen... In no time, they can have increment and bonuses again. Haiz............
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forever thinking of ways to take ever more public money for themselves...
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Unfortunately, the maximum payout from the Annuity Scheme is to be S$350 per month.
In another 10 years, inflation will probably make this $350 worthless. -
This Annuity scheme is more complex than it seems. I hope the public especially the more naive and apathetic will not be so naive as to be apathetic about what is to affect their lives. If singaporeans are indeed apathetic to issues then may gawd help us all.Originally posted by fishbuff:if i die before reaching 85, my CPF goes to my wife. if my wife dies before 85, both my wife and my cpf goes to my son. If my son dies before 85, his CPF, together with mine and my wifes, goes to his son/daughter.
the thing just keep snowballing. when can an average singaporean sees his CPF? -
Singaporeans' future lies in the hands of the MAJORITY.
If these are generally apathetic, I dunno how. -
no, he is referring to the annuity thing. your descendants would get to see the money you paid for it.Originally posted by fishbuff:if i die before reaching 85, my CPF goes to my wife. if my wife dies before 85, both my wife and my cpf goes to my son. If my son dies before 85, his CPF, together with mine and my wifes, goes to his son/daughter.
the thing just keep snowballing. when can an average singaporean sees his CPF?
singaporeans, unlike our leaders are supposed to be so noble, forever sacrificing for our leaders and fellowmen. kudos to ourselves! -
16 more months here and i can cut/burn off my Pink IC. and i will get all of my cpf out then.Originally posted by lotus999:no, he is referring to the annuity thing. your descendants would get to see the money you paid for it.
singaporeans, unlike our leaders are supposed to be so noble, forever sacrificing for our leaders and fellowmen. kudos to ourselves!