my cpf wish for retirement

• leetahsar

  21 Dec 10, 10:56

  got this in my email:

  Info Update
  Our last email update reported that CPF had won the prestigious Stockholm Challenge 2010 Award for Public Administration, and was the first Singapore government agency to win such an award, when it was the only Singapore government agency to win this year. We are sorry for the error.
  
  Last Chance for My Golden Egg Draw
  Have you figured out how much you need for your retirement? Pen your retirement wish now! This is your last chance to win an iPad in our Grand Draw. Contest ends 31 December 2010.
  
  P/S Look out for our next email blast where we'll tell you more about the benefits of the CPF Minimum Sum (MS) Topping-Up Scheme!
  
  
  Yours faithfully
  
  CPF Board

  so i penned my retirement wish:

  i wish by 55 yo i would get back ALL my cpf savings even though it might be that much. i wish the gov doesn't raise the withdrawal age. i m confused whether i could draw out ALL my $ at 55 or is it 60...or 62...or 65....or shit!! even older :(

  i ve been conned into a dunno what ELDERSHIELD which i ve no idea what the hell it's all about and how the hell and when i first signed it. a check with my friends revealed that if i bo chap about that years back, i was already conned into it.  IT WAS A OPT OUT  major con job which i wasn't aware :((

  cpf keeps sending me increased cost for this con the eldershit plan. i can't terminate cos it was already been there so many years which means my meagre interests accrued every year goes to pay for this dunno what shield scheme which i m totally helpless and dunno what to do.

  so my wish is very simple: I WISH I COULD GET BACK ALL MY CPF SAVING WHEN I REACH 55 YO. wasn't that the original game rule - withdraw in FULL when we reach 55??

  by the way, i think there is a prize for the best RETIREMENT WISH. what irony!! cpf also has CONtests.

• seyKai

  21 Dec 10, 11:09

  why wish?

  it only a dream to get your CPF.

  wat you will get is Cabana, Pensiveness and  Fantasy

• cyberr1981

  21 Dec 10, 22:23

  My wish for CPF is to abolish CPF and give back all my money while I'm still young and alive!

• likeyou

  22 Dec 10, 08:41

  CPF become a huge spider web.

  Many pple are stuck with all those rules and opt out rules and whatever.

  It was so messy that I sometimes dont even understand what they really want.

• angel7030

  22 Dec 10, 11:13

  easy, just remember that they need those money to invest to earn more profit for themselves, so, in a way, they will come out with all kind of rules and regulations just to keep those money not within your reach.

• mistyblue

  22 Dec 10, 21:42

   

  News Releases     INTEREST RATES FOR SPECIAL AND MEDISAVE ACCOUNTS MONIES FROM 1 JAN 2011 TO 31 MAR 2011, AND FOR RETIREMENT ACCOUNT MONIES FROM 1 JAN 2011 TO 31 DEC 2011       News Release by: Central Provident Fund Board 22 December 2010 --     The interest rate on Special and Medisave Account (SMA) monies from 1 January 2011 to 31 March 2011 will be maintained at 4%.  The interest rate on Retirement Account (RA) monies for the year 2011 will be maintained at 4%.     As announced on 20 September 2010, the Government will maintain the 4% minimum interest rate on all Special, Medisave and Retirement Accounts monies until 31 December 2011.  Thereafter, interest rates on all CPF account monies will be subject to a minimum rate of 2.5% p.a.           Interest Rate for SMA Monies         Savings in the SMA are invested in Special Singapore Government Securities (SSGS) which earn an interest rate pegged to either the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, or 4% whichever is the higher, adjusted quarterly.       The average yield of the 10YSGS plus 1%, from 1 December 2009 to 30 November 2010, works out to be 3.41%.  Hence, SMA monies will be invested in SSGS which earn 4%. Please refer toAnnex A for the 10-year SGS yield. Accordingly, the SMA interest rate payable to CPF members from 1 January 2011 to 31 March 2011 will be maintained at 4%.     Interest Rate for RA Monies         New RA savings are invested in SSGS which earn a fixed coupon equal to either the 12-month average yield of the 10YSGS plus 1% at the point of issuance, or 4%, whichever is the higher, adjusted yearly.       Given the low 10YSGS yield, new RA savings will be invested in SSGS which earn a fixed coupon of 4% (floor rate). The interest rate to be credited to the RA is the weighted average interest rate of the entire portfolio of these SSGS, and adjusted yearly in January.  The weighted average interest of the entire portfolio of these SSGS is 4% at the moment, so the interest rate payable to CPF members on their RA balances from 1 January 2011 to 31 December 2011 will be 4%.         Additional Interest of 1%         An additional 1% interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the Ordinary Account (OA).  The additional interest received on the OA will go into the member’s SA or RA to enhance his retirement savings.  If the member is above 55 years old and participates in the LIFE scheme, the additional 1% interest will also be payable on his annuity premium, less annuity payouts already made.  The additional interest earned on the member’s LIFE annuity monies will be paid into his RA.           Medisave Required Amount         From 1 January 2011, the Medisave Required Amount (MRA) will be raised from the current $22,500 to $27,500.       Since 1 January 2004, CPF members who turn 55 and are able to meet the CPF Minimum Sum are required to set aside the MRA in their Medisave Account when they make a CPF withdrawal. If such members have less than the MRA in their Medisave Accounts, their Ordinary and/or Special Account balances in excess of the Minimum Sum will be used to top up the MRA. The requirement for members to set aside the MRA in their Medisave Account is to enable them to have enough savings to meet their healthcare needs during old age.         Public Enquiries For more information, please visit www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188.

• angel7030

  23 Dec 10, 10:09

  keep wishing and dreaming

• troublemaker2005

  23 Dec 10, 13:44

  okay

• angel7030

  23 Dec 10, 15:51

  Woei! towkay, simi okay, paid first hor

• seyKai

  23 Dec 10, 15:56

  Originally posted by angel7030:

  Woei! towkay, simi okay, paid first hor

  
  everytime i play first and pay le

  u changed the norm oredi ya?

• angel7030

  23 Dec 10, 15:58

  you different mah, regular

• likeyou

  23 Dec 10, 16:27

  Originally posted by angel7030:

  easy, just remember that they need those money to invest to earn more profit for themselves, so, in a way, they will come out with all kind of rules and regulations just to keep those money not within your reach.

  
  They made pple confused with all the rules and regulations and of course all sorts of dates....