CPF & Medisave minimum sums
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winchester:
Winchester, there is no way the government can tell who is savvy and who is not, who will be irresponsible and who will not be. The role of the government is to ensure as much as possible, a safety net for all it's working adults.
some pts i agree.3Boys:
And what age should people be retiring, since they can be expecting to live to 80 on average? Should it be at 55, having worked 30 years from age 25 and expecting the savings of 30 years work to last them another 25 years? Should it be 65, so that savings from 40 years work can last them another 15? Which seems more realistic to you?
Taking everything out at age 55 is just courting disaster.
There is so much talk here about 'personal choice', as if thats the only thing that matters. If something goes wrong for those people who take out money early, the forumers here on KSP are not the ones picking up the pieces, it's the families of those people and taxpayers who bear the brunt. If government say we raise GST to support those pensioners who run out of money, how? You will happily support? Talk is cheap.
Of course we can all stick our heads in the sand and twist the government's arm........
should raise withdrawal age and peg with retirement age, no longer 55 but 63 or 65. people can withdraw all they want. if they want to spend it all foolishly, agree too, taxpayers should not bear the weight. but the hard part is those of us who can manage our finances well, or think we can mange our finances well, we want the flexibility to deal with our own money the way we see fit.
If you are a savvy investor, the $148k minimum sum should really not be a significant portion of your portfolio. Dare I say, if one is dependent on the $148k to be a big part of the portfolio, then one had better keep it untouched until later in life.
Spare a thought for the vulnerable amongst us.
Although we all say, 'the taxpayer should not bear the brunt of irresponsible behavior', guess what happens at the next GE when people start wheeling out videos of old ladies cleaning tables at the hawker centre? 'Oh, our government is so cruel, our old folks need to be working such hard lives', without thought to circumstances of how they got there or how the financing is supposed to occur.
I say, raise income taxes and raise GST, how many people would agree to that?
Te CPF draws admiring glances from many countries whose public finances are bust, where pensioners can't get paid. Yet here we are griping....... -
3Boys:
Investments are undertaken with the intention of profits but there is no guarantee that this will indeed be the outcome.Winchester, there is no way the government can tell who is savvy and who is not, who will be irresponsible and who will not be. The role of the government is to ensure as much as possible, a safety net for all it's working adults.
If you are a savvy investor, the $148k minimum sum should really not be a significant portion of your portfolio. Dare I say, if one is dependent on the $148k to be a big part of the portfolio, then one had better keep it untouched until later in life.
Many people lost money during the Lehman collapse. -
Coolkidsrock2:
Including Town Councils..
Investments are undertaken with the intention of profits but there is no guarantee that this will indeed be the outcome.
Many people lost money during the Lehman collapse.
Oops.. S&C charges gonna rise again.. -
limlim:
Haha
Including Town Councils..Coolkidsrock2:
Investments are undertaken with the intention of profits but there is no guarantee that this will indeed be the outcome.
Many people lost money during the Lehman collapse.
Oops.. S&C charges gonna rise again..
I was thinking of that too. -
Coming soon: CPF changes, help in rehiring workers
http://www.straitstimes.com/news/opinio ... s-20150110 -
Come July, MS is S$161,000. Will the next increase - 2016 - be another S$6-7k again?
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starlight1968sg:
Let see what are they going to do this timeComing soon: CPF changes, help in rehiring workers
http://www.straitstimes.com/news/opinio ... s-20150110 -
Coolkidsrock2:
The people who lost money are those who realised their losses. People who held on to their stocks/funds etc actually started making money again in 2011.
Investments are undertaken with the intention of profits but there is no guarantee that this will indeed be the outcome.3Boys:
Winchester, there is no way the government can tell who is savvy and who is not, who will be irresponsible and who will not be. The role of the government is to ensure as much as possible, a safety net for all it's working adults.
If you are a savvy investor, the $148k minimum sum should really not be a significant portion of your portfolio. Dare I say, if one is dependent on the $148k to be a big part of the portfolio, then one had better keep it untouched until later in life.
Many people lost money during the Lehman collapse.
Most of those affected by the mini bonds got their money back - even the non-vulnerable ones. My friend invested a few hundred thousand in the mini bond and he got them all back in the end - no interest but who cares at that point.
Context of singapore for above mentioned. In the US, it was just sad. People lost their homes even though they did not invest because they over leveraged. -
zbear:
Come July, MS is S$161,000. Will the next increase - 2016 - be another S$6-7k again?
they already announced no further increase for now. -
So for those who turn 55 this year n probably next year are lucky?
I don’t this freeze will last for long, probably resume in 1-2 years time after GE is over?
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