CPF minimum sum to be revised upwards to S$131,000
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wapobs:
it's NEVER worth spending on these women lah
where else to spend the money? :evil: :evil: :evil: :rotflmao:pinky:
...
also scared the old men's CPF will be cheated by PRC/viet whatever meimei lor :roll: -
Those who do not have the minimum sum can withdraw only $5000 at the age of 55. The amount of monthly payout (from CPF Life) depends on whatever sum the person has from Retirement Account (Ordinary Account + Special Account) and the type of plan the person opts.
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pinky:
it's NEVER worth spending on these women lah[/quote]How are you so sure? You see.....their wives don't talk to them anymore and their children are all grown up and these women exploit the opportunity to enter their lonely life.
where else to spend the money? :evil: :evil: :evil: :rotflmao:wapobs:
[quote=\"pinky\"]...
also scared the old men's CPF will be cheated by PRC/viet whatever meimei lor :roll: -
did you read in the papers about uncles who spent all their CPF and savings on these women and ended up broken and regretful? Some of them resort to violence to get their money back. There was one who attempted suicide but was held back by his son. Their family have to chip in for the expenses and medical fees even though the men were the ones who dumped their family first and of course, there were children who refused to forgive their fathers too. All these sad family stories are played again and again in so many households because of the men’s folly and indisretion.
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daddy2007:
Isn't that what the CPF Investment scheme is for?
They should have the option of letting people to manage their own money or let Garment manage it. Maybe some simple test of a personal financial literacy will enable one to have the option to manage one's CPF moneyMMM:
Also, why can't they leave us to take care of our own hard earn monies. Not everyone need help to take care of monies???? -
That’s why must make sure ord account is zero before 55, then your money wil not be stuck in CPF for the next 10 years.
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YKVT:
That's why must make sure ord account is zero before 55, then your money wil not be stuck in CPF for the next 10 years.
That is a good idea which i intend to do.
The only idea I can think of is to use everything I have in cpf to pay off the house before I reach 55 (I don't need the money in my cpf for retirement). Any other idea? -
pinky:
did you read in the papers about uncles who spent all their CPF and savings on these women and ended up broken and regretful? Some of them resort to violence to get their money back. There was one who attempted suicide but was held back by his son. Their family have to chip in for the expenses and medical fees even though the men were the ones who dumped their family first and of course, there were children who refused to forgive their fathers too. All these sad family stories are played again and again in so many households because of the men's folly and indisretion.
That is why I said it isn't worth it. Not only did they lost all their money, they risk their own health by resorting to illegal viagra and other unlicensed sex products from quakes. -
[quote]The Ministry of Manpower announced in August 2003 that the CPF Minimum Sum (MS) will be raised gradually to reach $120,000 (in 2003 dollars) in 2013. The increase in MS, which includes an adjustment for inflation, is to ensure that Singaporeans set aside sufficient savings for their retirement. In line with this policy, from 1 July 2011, the prevailing MS will be revised to $131,000, up from $123,000. Members who can set aside the MS fully in cash can apply to commence their monthly payouts of $1,170 when they reach their draw down age.[/quote]
http://mycpf.cpf.gov.sg/CPF/News/News-Release/N_31May2010.htm
Don't think we can ever touch this ever increasing sum of money till we are dead
How to reach that minimum sum for people earning $2k ~ $3k per month -
daddy2007:
[quote]The Ministry of Manpower announced in August 2003 that the CPF Minimum Sum (MS) will be raised gradually to reach $120,000 (in 2003 dollars) in 2013. The increase in MS, which includes an adjustment for inflation, is to ensure that Singaporeans set aside sufficient savings for their retirement. In line with this policy, from 1 July 2011, the prevailing MS will be revised to $131,000, up from $123,000. Members who can set aside the MS fully in cash can apply to commence their monthly payouts of $1,170 when they reach their draw down age.
http://mycpf.cpf.gov.sg/CPF/News/News-Release/N_31May2010.htm
Don't think we can ever touch this ever increasing sum of money till we are dead[/quote]the goal post seems to be pushed further each time we are almost there
:stupid: :stupid: :stompfeet: :stompfeet: :mad: :mad: :rant:
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