S'poreans most concerned with saving for retirement
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NOW the financial crisis has passed, people here are most concerned with putting more cash aside for retirement and rebuilding their savings, according to a new survey.
About 70 per cent of respondents believed their Central Provident Fund (CPF) savings will provide only some or a little of their retirement income.
Of this group, 70 per cent said they already had an alternative plan to supplement their nest egg, although only 27 per cent of the total number of respondents had a formal retirement plan.
The survey, commissioned by global financial services company Citi, found that continuing to work and relying on insurance and investments were the most popular ways chosen by people to add to their retirement fund.
About 52 per cent indicated that they would continue to work as long as possible. The same number also said they would rely on insurance proceeds, while 51 per cent would turn to investment products.
About 41 per cent said the total amount of their retirement savings was still behind where it was two years ago, before the crisis, while 45 per cent said this amount remained the same as it was before the crisis.
-- ST
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financial crisis has passed? haha. Don't bet on it. Look at europe. It takes one country to fall and that's it.
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Africans are still starving people here are still thinking of retirement?!Be contented!Never expect retirement in one's life!
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I agree that CPF system is no longer enough for retirement.
We should not compare our countries with africa, should compare it with developed countries.
It's not that we do not want to work as long as we can but sometimes we might develop physical/mental illnesses. So no retirement age is not possible for all Singaporeans.
Some already develop stroke in mid 30s. Some already have high blood pressure in 20s.
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dun put your savings in your savings account, as it pay you 0.2%, pathetic. inflation and time value of money will erode your savings in no time.
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dun compare with africans ...compare it with ancient greeks!!no cpf to retire and yet they all lived to the end in peace n harmony.............just get lotsa of land and a herd of goats.
spore has any space....or much land for a person to have goats for milk,cheese and meat.
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Originally posted by Startwork:
Africans are still starving people here are still thinking of retirement?!Be contented!Never expect retirement in one's life!
the africans????i see most of them immigrated to australia....all damn tall...all look like 7 feet tall !!!!wonder what they eat until so tall in africa??! -
Originally posted by Rooney9:
dun put your savings in your savings account, as it pay you 0.2%, pathetic. inflation and time value of money will erode your savings in no time.
There's fixed deposit with higher interest.But terms and conditions apply for such deposit.
Normally you have to put in there for a period of time like a few years and there's a minimum sum of money required.
This is good for conservative investors.
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Retirement? *scoffs*
The Pappies will never approve of it.
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Originally posted by βÎτά:
Retirement? *scoffs*
The Pappies will never approve of it.
Work til you drop dead.
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Originally posted by Cute Dolphin:
I agree that CPF system is no longer enough for retirement.
We should not compare our countries with africa, should compare it with developed countries.
It's not that we do not want to work as long as we can but sometimes we might develop physical/mental illnesses. So no retirement age is not possible for all Singaporeans.
Some already develop stroke in mid 30s. Some already have high blood pressure in 20s.
ya....well said....some even act cute and go crazy, and stab one another with knives in downtown east in their teens ....
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Originally posted by Fcukpap:
ya....well said....some even act cute and go crazy, and stab one another with knives in downtown east in their teens ....
We are not so blessed like MM Lee.
His pay is good and he's still able to talk in parliament as a MP and minister mentor.
Although he have health issues, he still can work.
If we have health issues, which employees want us at his age ?
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he will tell you to work for ....mcdonna...
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Originally posted by Fcukpap:
he will tell you to work for ....mcdonna...
If your health condition is ok, why not? -
sometimes i couldn't help but pity them competing to work in the fast yuppie environment...
the queues are long...do spare a thought for the old mac who is struggling to get your big breakfast meal out....
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NO NEED TO WORRY..............
MOST PEOPLE NO ENOUGH MONEY TO RETIRE.............
SO SELL FLAT BACK TO GOVT AND LIVE OFF THE MONTHLY PAYMENTS FROM THEM.............
OR..........MAKE A TRIP TO MEXICO AND BUY NEMBUTAL.............U GO TO SLEEP AND NO WAKE UP NO MORE.............
THAT'S WHAT PAP HOPE ALL THE POOR OLD FARTS WILL DO.............
PAP : '' WHEN U R OLD AND NO MONEY..................EARLY DIE, EARLY GOOD .......''
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Originally posted by QX179R:
NOW the financial crisis has passed, people here are most concerned with putting more cash aside for retirement and rebuilding their savings, according to a new survey.
About 70 per cent of respondents believed their Central Provident Fund (CPF) savings will provide only some or a little of their retirement income.
Of this group, 70 per cent said they already had an alternative plan to supplement their nest egg, although only 27 per cent of the total number of respondents had a formal retirement plan.
The survey, commissioned by global financial services company Citi, found that continuing to work and relying on insurance and investments were the most popular ways chosen by people to add to their retirement fund.
About 52 per cent indicated that they would continue to work as long as possible. The same number also said they would rely on insurance proceeds, while 51 per cent would turn to investment products.
About 41 per cent said the total amount of their retirement savings was still behind where it was two years ago, before the crisis, while 45 per cent said this amount remained the same as it was before the crisis.
-- ST
more bullshit propaganda from PAP...............70% of people think they got enough $ to retire ???
you can even find 30% of people to believe that............
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chinese new year and everyone talks ....ya all right.at least i know u are all able to think.ya all correct...wont have much of a future in spore.the house u have is under some kinda loan.....the jobs are undepaid for a professional position and whatever jobs they have are also takn away by cheaper foreigners due to employers market! those left behind in spore may be the pap fanatics relying on someones else effort other than their own. u can know from mentality who dont think like a practical person n rely on blind faith solely...to fight to the end till the ultimate victory even if it consumes them....from starvation to sleeping on streets without jobs.
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what talking you.....................
most S'poreans are just serfs......................to our PAP feudal masters..................