[sgbuffett]

Since the govt claim they are not doing this to save on interest paid.

So may I ask how does getting rid of CPF SA benefit Singaporeans above 55.

If  it does not benefit Singaporeans should we support this decision by the govt?

If the govt is not doing this to benefit from the interest savings and doing this does not benefit Singaporeans....it is completely illogical to do this.

This govt is not communicating and acting  rationally....

[WhatDoYouThink!]

You expect cpf spokesperson to come here to read yr post and reply? Shd write to cpf directly right?

[Huliwang]

I dun understand why Ah Butt kept harping on this miserable SA account. Even if the government dun get rid of this account, they can also reduce the interest to previous rate. I think removing that SA account is far better then keeping it there and adjust the interest rate up and down to match market trend.     

[WhatDoYouThink!]

Probably he has millions in sa that's why he keeps thinking of hacking it. Closing sa won't affect most ppl who dun hv much in it

[Goldmine]

The closing of CPF Special Account is only for CPF members when they reach 55 years old. It does not affect you if u are below 55 yrs old. These 55 yrs old CPF members who have fully set aside their min sum requirement can take out the full balance and made better investment on their own. Didn't CPF members cries "We want our money back" "We can made much more investing on our own". Well! You can take all excess balances in OA and SA out when you hit 55 yrs old . Isn't it good for you investors?

[Wy:Nox]

The closing of CPF Special Account is only for CPF members when they reach 55 years old. It does not affect you if u are below 55 yrs old. These 55 yrs old CPF members who have fully set aside their min sum requirement can take out the full balance and made better investment on their own. Didn't CPF members cries "We want our money back" "We can made much more investing on our own". Well! You can take all excess balances in OA and SA out when you hit 55 yrs old . Isn't it good for you investors?

This Govt is expected to allow SA amount that is moved to OA at 55 years to be fully withdrawn so that we can invest it elsewhere that draws more than 2.5%.

[p1acebo]

I am leery of such a move. I think these old geezers will lose all their hard earned CPF savings due to investment scams in their quest to recoup the lost 1.5%. The govt is really sabotaging the over 55yrs.

[p1acebo]

Since the govt claim they are not doing this to save on interest paid.

So may I ask how does getting rid of CPF SA benefit Singaporeans above 55.

If  it does not benefit Singaporeans should we support this decision by the govt?

If the govt is not doing this to benefit from the interest savings and doing this does not benefit Singaporeans....it is completely illogical to do this.

This govt is not communicating and acting  rationally....

GIC and Temasek returns not keeping pace.  Lose until tng kor

[singaporean1964]

it benefit sinkies attitude
theat
'THERE IS NO FREE LUNCH'
better prepare to work till you die

[Goldmine]

I am leery of such a move.  I think these old geezers will lose all their hard earned CPF savings due to investment scams in their quest to recoup the lost 1.5%.  The govt is really sabotaging the over 55yrs.

CPF members want to control their own money and claim they know best how to invest their money. Now govt  accede to their request. Let's see whether they laugh or cry to the bank in 1-2 yrs time.

[Oyk]

CPF members want to control their own money and claim they know best how to invest their money. Now govt  accede to their request. Let's see whether they laugh or cry to the bank in 1-2 yrs time.

Through the years, most peepur who withdrew their CPF for investment lost money.  It's a loser's game, just like TOTO and 4D.  A hundred thousand peepur must lose money in order for someone to win a 1st prize or 2nd prize..and the lottery company making a net profit as well after paying shop rent, lottery seller salaries etc.

For those who still want to earn 4%, the RA is an option.

Those aged 55 and above, who say they are losing a lot of money from the 1.5% reduction in interest, are the ones who are very rich.  Most peepur would not have so much SA balance to be saying that.  Our CPF balance is mostly in the OA even if we have met the FRS.  So the loss of interest is negligible.

.

[WhatDoYouThink!]

Those smart ones who bought/sold properties shd hv lots in oa. The stewpig ones follow im65 and now kena stuck there

[WhatDoYouThink!]

If you hv only 20k in oa, you shd hv about 5k in sa. So closure of sa and whatever hacks would not hv much impact at all

[EvertonDiehard]

Since the govt claim they are not doing this to save on interest paid. So may I ask how does getting rid of CPF SA benefit Singaporeans above 55. If  it does not benefit Singaporeans should we support this decision by the govt? If the govt is not doing this to benefit from the interest savings and doing this does not benefit Singaporeans....it is completely illogical to do this. This govt is not communicating and acting  rationally....

The relationship between the Govt and the people who voted for them

[watchfirst9]

got benefit lah.. at least govt is less keen to invest in risky asset,
therefore cpf is safer...

[EvertonDiehard]

it benefit sinkies attitude theat 'THERE IS NO FREE LUNCH' better prepare to work till you die

The official line is that retirees we see collecting used cardboard are doing so for exercise - not because they need the money.

[sgbuffett]

The closing of CPF Special Account is only for CPF members when they reach 55 years old. It does not affect you if u are below 55 yrs old. These 55 yrs old CPF members who have fully set aside their min sum requirement can take out the full balance and made better investment on their own. Didn't CPF members cries "We want our money back" "We can made much more investing on our own". Well! You can take all excess balances in OA and SA out when you hit 55 yrs old . Isn't it good for you investors?

For those above 55 they can already take their money back. So it is not about people asking for their money back.

[Goldmine]

For those above 55 they can already take their money back. So it is not about people asking for their money back.

Then transfer your excess funds in your SA account to your Retirement Account to earn the higher interest. If not then take it out and do your own investment. You are Sgbuffet. Surely can do better than the 4 % interest.

[Oyk]

The official line is that retirees we see collecting used cardboard are doing so for exercise - not because they need the money.

I was a frequent free and easy travellor to all over China and I have lost count of the number of taims I saw Singaporean tour groups. Old folks with the $$$ to eat wind. 

I also saw lots of peepur who were younger than me who could actually walk riding a PMA

And even though a pack of cigarettes cost $16, a huge number of PEEPUR are spending that daily which is more than enough for 2 very good cai png meals at $8 each

That is the real average Singaporean.

When you talk about discarded cartons collectors, please find out their stories first, what their life had been when they were yang, how they had lived it. These peepur don't belong to LHL 的 era of government. They were the yangsters of LKY 的 era. Either LKY had done a bad job like Mahatail, or they had squandered their youth, fighting, joining gangs, stealing, disturbing gurls, or if you want to throw a Buddhism spin into it, then leave it, let what must happen happen, the Karma must ripen if not now then one day... still. 没有办法的。因果，前世造恶业的后果是无法逃避的。

[sgbuffett]

Then transfer your excess funds in your SA account to your Retirement Account to earn the higher interest. If not then take it out and do your own investment. You are Sgbuffet.  Surely can do better than the 4 % interest.

The policies us not just for me.
It is for all Singaoireans.

[Ola]

The Govt is discouraging SA

and forcing those 55 years and above to out into OA

so that it can enrich the banks at the expense of us, aka clients

[Ola]

It will benefit Jac LAU where his Excess OA $640,000

will earn him $20,480 for 12 mths in Fix Deposits

Base on BOC 3.2% Interest rates

Huat Arh!