Punggol East By-Election coming ? MP steps down

[pirate]

sinoboy:

I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money. So perhaps somebody can enlighten me?

I believe the govt when they say that the CPF minimum sum and retiring age keep increasing because people are living longer.

You will get your CPF money back. The government only has to print (technically they just have to push a button on a keyboard now). Whether it has the same purchasing power as when you put it in is a different question. That will depend on the competency of the government between now and then...

(And to bring it back on topic) Which is why SDP, RP, SDA and the other whathaveyouparties will not be getting my vote anytime in the foreseeable future.

[sinoboy]

Harlequin:

sinoboy:

I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money.

CPF is akin to bank saving, not investing with the bankers; be rest assured that our CPF will always be ours.

Well CPF will always be ours because we earned it. But I want to know if my CPF is safe. Did it ever go to unsafe investments and if it is not safe who do I look for. Perhaps someone can enlighten me. :scratchhead:

[Harlequin]

Irrelevant:

pirate:

There is no CPF money. It is just one big IOU from the Government of Singapore.

Technically, you are correct. However, if the Government of Singapore does not borrow it, who is going to pay for the 2.5% - 4% interest?

The more important question is, what happens after the govt borrows the money? If my memory serves me correctly, the govt has up to $100-200 billion sitting idle in the consolidated fund. Theoretically, this means that the govt has the means to pay back Singaporeans any of the CPF money without resorting to selling of other assets. This is also the reason why the govt does not mind CPF holders using the CPF money to purchase a property or to invest in unit trusts. In fact, in doing so (in utilising the CPF funds), the govt is actually freed from the obligation to pay the 2.5% - 4% interest payment.

Money-minded government begets money-minded citizens. :rotflmao:

[3Boys]

sinoboy:

Irrelevant:

[quote=\"sinoboy\"]
Don't shoot me down just like that lah. Since you seem to know the difference, do you think our CPF money is involved or not huh?

If you are keen to understand, pray tell us why you think CPF money is somehow involved?

I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money. So perhaps somebody can enlighten me? [/quote]So, just assume for one minute that all is well with your CPF money, ok? Is the g'ment right or wrong in raising the minimum sum and retirement age, considering that the average life span of Singaporeans is now in the mid-80s and a great share of healthcare costs are in the latter stages of life?

Put another way, is it prudent for a retirement age to be 65 when more than half of those who live to that age will live till 80 and beyond? Is it prudent for the minimum sum to stay what it is in 2012 when if you are in your mid 40s, you will be paying 2030 prices when you retire?

[Harlequin]

sinoboy:

Harlequin:

[quote=\"sinoboy\"]

I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money.

CPF is akin to bank saving, not investing with the bankers; be rest assured that our CPF will always be ours.

Well CPF will always be ours because we earned it. But I want to know if my CPF is safe. Did it ever go to unsafe investments and if it is not safe who do I look for. Perhaps someone can enlighten me. :scratchhead:[/quote]The gov/ CPF board underwrite it.

When you save with the banks, do you worry how the banks earn to pay your interest? Most of us are not bothered what investment risks the banks undertake.

[concern2]

3Boys:

Would you still vote for the WP if it says it would not spend money to subsidize public transport, will not spend more on education, but will raise taxes to fund other social programs like healthcare and elderly care?

Again, down to the supporters, and the ability of the party to take them where they may not want to go.

Why, you got insider info that this is their plan, iseeet?
See what they propose first loh...
If they stage another concert, I don't mind attending.. :evil: Staged by supporters also I don't mind paying to attend

[3Boys]

concern2:

3Boys:

Would you still vote for the WP if it says it would not spend money to subsidize public transport, will not spend more on education, but will raise taxes to fund other social programs like healthcare and elderly care?

Again, down to the supporters, and the ability of the party to take them where they may not want to go.

Why, you got insider info that this is their plan, iseeet?
See what they propose first loh...
If they stage another concert, I don't mind attending.. :evil: Staged by supporters also I don't mind attending..

Completely hypothetical. But it'll be nice to know that they can make hard and unpopular choices, and that their supporters will support them for it.

[concern2]

3Boys:

But it'll be nice to know that they can make hard and unpopular choices, and that their supporters will support them for it.

:skeptical: Is that what you guys call \"sweeping statement\" :nunchuk:

[pirate]

sinoboy:

But I want to know if my CPF is safe. Did it ever go to unsafe investments and if it is not safe who do I look for. Perhaps someone can enlighten me. :scratchhead:

There is no such thing as a \"safe\" investment.

If you put your money under your bed, there is a risk that it may get eaten by rats or termites. If you put it in a bank, the bank may go bust. If you buy gold and bury it in your garden, some dog may dig it up. If you buy government bonds, the return may not keep up with inflation. Even if you buy landed property in Singapore with a long investment horizon, there is a risk that Indonesia may build a nucleur power plant on Batam and the damn thing may suffer a reactor meltdown....

[sinoboy]

pirate:

sinoboy:

I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money. So perhaps somebody can enlighten me?

I believe the govt when they say that the CPF minimum sum and retiring age keep increasing because people are living longer.

You will get your CPF money back. The government only has to print (technically they just have to push a button on a keyboard now). Whether it has the same purchasing power as when you put it in is a different question. That will depend on the competency of the government between now and then...

(And to bring it back on topic) Which is why SDP, RP, SDA and the other whathaveyouparties will not be getting my vote anytime in the foreseeable future.

People are living longer but people are also losing their jobs and can't find suitable employment in their 30s and 40s either through retrenchment when employers finding costs here too high or losing jobs to FTs. So can't say people live longer so collect CPF later, when the fact is one leg is already in the coffin. Not everyone has a few properties to collect rents.

It would be a sad day for Singapore if our government has to print money to pay CPF obligations. Feels like a last resort thing. Can happen sooner than later without checks? :scratchhead: