[Scythian]

No other pension funds keeps/uses ridiculous interest  @2.50% like CPF Board..

CPF Board must be crazy..

[Sticw]

CPF is no pension lah... At best it's a low interest borrowing mechanism for govt to tap on citizens.

[Scythian]

CPF is no pension lah... At best it's a low interest borrowing mechanism for govt to tap on citizens.

Cheapest source of govt fundings

[klat]

Fooking cpf board will have to increase the interest rate for OA.

It has no choice.

[Kgliangp]

Singaporean CPF find are eaten up by inflation every year 2022 in flat is the hardest hot. Said thank you to the government?

[Notdumb]

Singaporean CPF find are eaten up by inflation every year 2022 in flat is the hardest hot. Said thank you to the government?

Not eaten up by inflation lah....its eaten up by PAP.

[Scythian]

Fooking cpf board will have to increase the interest rate for OA.

It has no choice.

In order to cover-up their mistake of keeping OA interest rate unacceptably low @ 2.50% from 1 Oct 2022 to 31 Dec 2022, CPF Board approved an ad hoc arrangement for OCBC to accept OA be transferred to Banks FD @ 3.40% pa,

Unexpectedly, this is an unprecedented arrangement done by CPF Board with a local bank,  OCBC that taken every CPF member by surprise.

[drgn]

In order to cover-up their mistake of keeping OA interest rate unacceptably low @ 2.50% from 1 Oct 2022 to 31 Dec 2022, CPF Board approved an ad hoc arrangement for OCBC to accept OA be transferred to Banks FD @ 3.40% pa,

Unexpectedly, this is an unprecedented arrangement done by CPF Board with a local bank,  OCBC that taken every CPF member by surprise.

you are wrong.

you can use your oa for fd for at least 3 banks - dbs, uob, ocbc.

can do it long ago.   not a recent ad hoc arrangement.

[Scythian]

you are wrong.

you can use your oa for fd for at least 3 banks - dbs, uob, ocbc.

can do it long ago.   not a recent ad hoc arrangement.

Afterall, CPF Board isn't competitive at all.

[sgbuffett]

No other pension funds keeps/uses ridiculous interest  @2.50% like CPF Board..

CPF Board must be crazy..

I used to think that pension funds should be systemically invested and pension fund holders given the full returns.
This is the best approach.

However over time I come.to understand why the govt does what it does.


Nobody force you to take the 2.5% guaranteed.
I'd you wish, you can invest anywhere you want to get higher under CPFIS.

The only issue is why they don't invest for us.

After observing for a while, the main reason is the tendency of Singaporeans not to accept bad years that come if the money is invested for them.  Imagine if the CPF operates like other pension funds and there is a market crash instead of getting 2.5% , Singaporeans get minus 10%. How many can accept?

Imagine this happens in Singapore, can Singaporeans accept?  Problem is Singaporeans have unrealistic expectations ...when you talk about higher return in the minds of Singaporeans it js higher returns without loss which is impossible.



To solve this the role CPF, MAS and govt should facilitate Singaporeans access to.low cost highly diversified funds.

There are many like myself.who think the best approach for retirement is to.invest long term rather than take a fixed rate.
and the options available are quite poor.

[Notdumb]

Nobody force you to take the 2.5% guaranteed.
I'd you wish, you can invest anywhere you want to get higher under CPFIS.

The only issue is why they don't invest for us.

After observing for a while, the main reason is the tendency of Singaporeans not to accept bad years that come if the money is invested for them.  Imagine if the CPF operates like other pension funds and there is a market crash instead of getting 2.5% , Singaporeans get minus 10%. How many can accept?

Imagine this happens in Singapore, can Singaporeans accept?  Problem is Singaporeans have unrealistic expectations ...when you talk about higher return in the minds of Singaporeans it js higher returns without loss which is impossible.



To solve this the role CPF, MAS and govt should facilitate Singaporeans access to.low cost highly diversified funds.

There are many like myself.who think the best approach for retirement is to.invest long term rather than take a fixed rate.
and the options available are quite poor.

Wah Korea wan so honest.