<![CDATA[CPF minimum sum to be revised upwards to S$131,000]]>http://www.channelnewsasia.com/stories/singaporelocalnews/view/1132239/1/.html


\"SINGAPORE: From July, the prevailing CPF minimum sum (MS) will be revised upwards to S$131,000, up from S$123,000. The CPF Board said the new MS will apply to members who turn 55 from July 1 2011 to June 30 2012.

It was announced in August 2003, that the minimum sum would be raised gradually to reach S$120,000 (in 2003 dollars) in 2013.

CPF Board said the increase in minimum sum, which includes an adjustment for inflation, is to ensure that Singaporeans set aside sufficient savings for their retirement....\"

Bummer.... just when I thought \"they\" are going to do more listening....
\"They\" talked about the pros (to have sufficient savings)... what about the cons??? Or just conveniently ignore...

:stupid: :mad: :stupid: :mad:

]]>https://forum.kiasuparents.com/topic/22687/cpf-minimum-sum-to-be-revised-upwards-to-s-131-000RSS for NodeSun, 19 Apr 2026 11:30:04 GMTTue, 31 May 2011 06:47:43 GMT60<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Thu, 30 Jun 2011 02:49:04 GMT]]>

AC:
To: Govt


Will i ever get to enjoy ALL my hard-earned saving? :moneyflies: 😢 If i was in the pink of health & could continue working till 65, it might be okay. But m already having some health problems liao, so what if i get too sick to work? :nailbite: It means i will have no money to fall back on. And also, i have no idea how long i will leave... i might not even live to see the money! \"IT'S MY MONEY, :moneyflies: whether i choose to not take it out or put it under my mattress should be up to me\". DO YOU UNDERSTAND!!!! :frustrated:
:goodpost:

]]>https://forum.kiasuparents.com/post/463379https://forum.kiasuparents.com/post/463379Thu, 30 Jun 2011 02:49:04 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Tue, 28 Jun 2011 15:54:09 GMT]]>Maybe he is looking at his bank statement instead of CPF statement.

]]>https://forum.kiasuparents.com/post/460740https://forum.kiasuparents.com/post/460740Tue, 28 Jun 2011 15:54:09 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Tue, 28 Jun 2011 13:22:00 GMT]]>

daddy2007:
pinky:


there was a MP who commented that he felt rich when he sees his CPF statement :mad: :evil:

I am still puzzled why he can have this feeling when he see this money in his CPF. The maximum contribution ceiling for employee is $900. Plus employer's contribution, probably maximum one can get is about $1,500+ per month.

some more he said when he sees the cpf statement every month ....led people think that cpf sends him statement every month .... just treat it as propaganda from him lah

]]>https://forum.kiasuparents.com/post/460590https://forum.kiasuparents.com/post/460590Tue, 28 Jun 2011 13:22:00 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Tue, 28 Jun 2011 09:37:55 GMT]]>

daddy2007:
pinky:


there was a MP who commented that he felt rich when he sees his CPF statement :mad: :evil:

I am still puzzled why he can have this feeling when he see this money in his CPF. The maximum contribution ceiling for employee is $900. Plus employer's contribution, probably maximum one can get is about $1,500+ per month.

Yes, on one hand the government said we did not save much in CPF since we used the bulk of it for housing. On the other hand, there is a cap on contribution from both employer and employee.
So what is what?

]]>https://forum.kiasuparents.com/post/460418https://forum.kiasuparents.com/post/460418Tue, 28 Jun 2011 09:37:55 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Tue, 28 Jun 2011 09:35:46 GMT]]>

lobo:
One effective way would be to engage the help of the elected Opposition MPs in Parliament, to bring this topic about CPF Minimum Sum & CPF Life Scheme, for debate and discussion.

Possible, provided they are willing to do so.
Anyway, we know must save and save and save until we drop dead.

]]>https://forum.kiasuparents.com/post/460417https://forum.kiasuparents.com/post/460417Tue, 28 Jun 2011 09:35:46 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Tue, 28 Jun 2011 09:08:52 GMT]]>One effective way would be to engage the help of the elected Opposition MPs in Parliament, to bring this topic about CPF Minimum Sum & CPF Life Scheme, for debate and discussion.

]]>https://forum.kiasuparents.com/post/460393https://forum.kiasuparents.com/post/460393Tue, 28 Jun 2011 09:08:52 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Tue, 28 Jun 2011 06:36:22 GMT]]>To: Govt


Will i ever get to enjoy ALL my hard-earned saving? :moneyflies: 😢 If i was in the pink of health & could continue working till 65, it might be okay. But m already having some health problems liao, so what if i get too sick to work? :nailbite: It means i will have no money to fall back on. And also, i have no idea how long i will leave... i might not even live to see the money! \"IT'S MY MONEY, :moneyflies: whether i choose to not take it out or put it under my mattress should be up to me\". DO YOU UNDERSTAND!!!! :frustrated:

]]>https://forum.kiasuparents.com/post/460131https://forum.kiasuparents.com/post/460131Tue, 28 Jun 2011 06:36:22 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Tue, 14 Jun 2011 12:58:24 GMT]]>

daddy2007:
lobo:

why are singaporeans only whining and doing nothing?

Then how they can go about it? Meet their MP? Feedback might be filtered off along the way before reaching parliament :lol:

try facebook?
http://sg.news.yahoo.com/blogs/singaporescene/connecting-netizens-online-way-094244453.html

But then, not sure how much they really take in the feedback. Maybe only to \"explain\" to people why their policies?

Or just to ask for some \"solutions\" to be given but not really take into consideration.

]]>https://forum.kiasuparents.com/post/446400https://forum.kiasuparents.com/post/446400Tue, 14 Jun 2011 12:58:24 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Mon, 13 Jun 2011 18:05:31 GMT]]>

pinky:

there was a MP who commented that he felt rich when he sees his CPF statement :mad: :evil:
I am still puzzled why he can have this feeling when he see this money in his CPF. The maximum contribution ceiling for employee is $900. Plus employer's contribution, probably maximum one can get is about $1,500+ per month.

]]>https://forum.kiasuparents.com/post/445313https://forum.kiasuparents.com/post/445313Mon, 13 Jun 2011 18:05:31 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Mon, 13 Jun 2011 18:03:04 GMT]]>

lobo:
why are singaporeans only whining and doing nothing?
Then how they can go about it? Meet their MP? Feedback might be filtered off along the way before reaching parliament :lol:

]]>https://forum.kiasuparents.com/post/445312https://forum.kiasuparents.com/post/445312Mon, 13 Jun 2011 18:03:04 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Mon, 13 Jun 2011 06:52:45 GMT]]>

lobo:
why are singaporeans only whining and doing nothing?

shouldn't the MPs be made to work harder by bringing this issue up to debate in parliament? the cpf min. sum & cpf life scheme should be adapted, modified and improved, to suit the needs of singapore citizens.
there was a MP who commented that he felt rich when he sees his CPF statement :mad: :evil:

]]>https://forum.kiasuparents.com/post/444796https://forum.kiasuparents.com/post/444796Mon, 13 Jun 2011 06:52:45 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Sun, 12 Jun 2011 02:56:52 GMT]]>why are singaporeans only whining and doing nothing?

shouldn’t the MPs be made to work harder by bringing this issue up to debate in parliament? the cpf min. sum & cpf life scheme should be adapted, modified and improved, to suit the needs of singapore citizens.

]]>https://forum.kiasuparents.com/post/443738https://forum.kiasuparents.com/post/443738Sun, 12 Jun 2011 02:56:52 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Thu, 09 Jun 2011 06:43:03 GMT]]>

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:

]]>https://forum.kiasuparents.com/post/441714https://forum.kiasuparents.com/post/441714Thu, 09 Jun 2011 06:43:03 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Thu, 09 Jun 2011 06:37:59 GMT]]>[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

]]>https://forum.kiasuparents.com/post/441710https://forum.kiasuparents.com/post/441710Thu, 09 Jun 2011 06:37:59 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Sat, 04 Jun 2011 17:45:43 GMT]]>

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.

]]>https://forum.kiasuparents.com/post/437495https://forum.kiasuparents.com/post/437495Sat, 04 Jun 2011 17:45:43 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Sat, 04 Jun 2011 17:42:01 GMT]]>

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?

]]>https://forum.kiasuparents.com/post/437492https://forum.kiasuparents.com/post/437492Sat, 04 Jun 2011 17:42:01 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 13:52:09 GMT]]>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.

]]>https://forum.kiasuparents.com/post/436854https://forum.kiasuparents.com/post/436854Fri, 03 Jun 2011 13:52:09 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 13:10:15 GMT]]>

daddy2007:
MMM:


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????

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 money

Isn't that what the CPF Investment scheme is for?

]]>https://forum.kiasuparents.com/post/436837https://forum.kiasuparents.com/post/436837Fri, 03 Jun 2011 13:10:15 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 09:58:10 GMT]]>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.

]]>https://forum.kiasuparents.com/post/436680https://forum.kiasuparents.com/post/436680Fri, 03 Jun 2011 09:58:10 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 09:48:16 GMT]]>

pinky:
wapobs:

[quote=\"pinky\"]...

also scared the old men's CPF will be cheated by PRC/viet whatever meimei lor :roll:

where else to spend the money? :evil: :evil: :evil: :rotflmao:

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.

]]>https://forum.kiasuparents.com/post/436672https://forum.kiasuparents.com/post/436672Fri, 03 Jun 2011 09:48:16 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 09:32:35 GMT]]>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.

]]>https://forum.kiasuparents.com/post/436647https://forum.kiasuparents.com/post/436647Fri, 03 Jun 2011 09:32:35 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 09:30:43 GMT]]>

wapobs:
pinky:

...

also scared the old men's CPF will be cheated by PRC/viet whatever meimei lor :roll:

where else to spend the money? :evil: :evil: :evil: :rotflmao:

it's NEVER worth spending on these women lah

]]>https://forum.kiasuparents.com/post/436644https://forum.kiasuparents.com/post/436644Fri, 03 Jun 2011 09:30:43 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 08:47:27 GMT]]>I believe CPF shld communicate better on people’s concerns… e.g. what happens to those who don’t have minimum sum when they retire?


The main media just report the good news… and everyone just turn to the new media for the not-so-good news… and the resentments just keep growing…

]]>https://forum.kiasuparents.com/post/436610https://forum.kiasuparents.com/post/436610Fri, 03 Jun 2011 08:47:27 GMT<![CDATA[Reply to CPF minimum sum to be revised upwards to S$131,000 on Fri, 03 Jun 2011 07:21:33 GMT]]>

WeiHan:
wapobs:

[quote=\"pinky\"]...

also scared the old men's CPF will be cheated by PRC/viet whatever meimei lor :roll:

where else to spend the money? :evil: :evil: :evil: :rotflmao:

Is really not worth it. The old men also cannot \"function\" properly already. How to enjoy? and got cheated the money some more.[/quote]relax my friend, relak! :rotflmao: :rotflmao: :rotflmao:

]]>https://forum.kiasuparents.com/post/436473https://forum.kiasuparents.com/post/436473Fri, 03 Jun 2011 07:21:33 GMT