Our CPF savings poorly managed resulted 450K receiving AVG $350 payouts
#1

Our CPF savings poorly managed resulted 450K recd $350 payouts.

In 2018, MoM Josephine Teo reported in Parliament that 450,000 pensioners age 65 and above receiving average $350 payouts.

How to survive 🤪?
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#2

639k are elderly residents

So, 70% of those retirees rec'd $350/ mth

Wah phiang! PAP really cannot run a national CPF for us well

Sack Mr Suay and JoTeo immediately, lah!

Why do we need 5 Mayors and 80 PAP Ministers? 
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#3

(11-09-2022, 09:35 PM)FartSunKing Wrote:  Both are selfish ingrates turned traitors 

One traitor who run road to suck ozzie pricks

Self fcuk his own arsehole

To beg PAP for more CPF money

The other whiny little ccbai

Self fcuk her own arsehole

To beg PAP for a job

[Image: 327-3279942-F...k-you-hd-png-download.png]
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#4

(11-09-2022, 08:25 PM)Scythian Wrote:  Our CPF savings poorly managed resulted 450K recd $350 payouts.

In 2018, MoM Josephine Teo reported in Parliament that 450,000 pensioners age 65 and above receiving average $350 payouts.

How to survive 🤪?

These are merdeka generation cpf subscribers whose salaries in the 70s/80s were around $500 per month before we became a high income economy. At that time, a new 2 room flat was worth $15,000. A 4 room flat was $40,000. Considered expensive in those days.
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#5

(11-09-2022, 10:33 PM)icarus Wrote:  These are merdeka generation cpf subscribers whose salaries in the 70s/80s were around $500 per month before we became a high income economy. At that time, a new 2 room flat was worth $15,000. A 4 room flat was $40,000. Considered expensive in those days.
why introduced MRSS to expose govt desperately needed cash top-up of $1.32 billions ($3000 X 440,000)??

"A total of 440,000 people will be able to receive matching amounts of up to $600 annually for cash top-ups made (next 5 years) to their Central Provident Fund (CPF) retirement accounts, under a new scheme which kicks off this year.

They make up about 53 per cent of CPF members between 55 and 70 years old, said the CPF Board on Wednesday (Jan 6 2021)."
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#6

(11-09-2022, 10:33 PM)icarus Wrote:  These are merdeka generation cpf subscribers whose salaries in the 70s/80s were around $500 per month before we became a high income economy. At that time, a new 2 room flat was worth $15,000. A 4 room flat was $40,000. Considered expensive in those days.


Not true..

Shockingly, MRSS shown 53% of those even born in 1966 unable to meet retirements were eligible for $3000 ($600 X 5 years)  top-up scheme over 5 years .

Their futures look bleak.

These are not merdeka generations?
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#7

...dont know what our PAP 又要在CPF搞什么鬼....their plan is to not let us get too rich and not too poor like beggar and provide cheap pay job for elder..
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#8

(11-09-2022, 10:33 PM)icarus Wrote:  These are merdeka generation cpf subscribers whose salaries in the 70s/80s were around $500 per month before we became a high income economy. At that time, a new 2 room flat was worth $15,000. A 4 room flat was $40,000. Considered expensive in those days.

"With HDB prices over $ 1000000, it's becoming unaffordable.

Thus, there will be increasingly more pensioners falling short of retirements requirements"

Not suprisingly, the numbers could be increased from 53% to 73% receiving AVG $350 payouts in future.
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#9

If you are a middle class professional CPF complements as a high interest rate fixed deposit. Many use it for this purpose. The 1M65 movement uses this method to accumulate 1M by 65 many will have 2M.

These people are prudent and don't even need the CPF. It is just part of their wealth composition.

For the poor, they will remain poor and not be able to retire anyway because their CPF is insufficient.

CPF is different from other national schemes where funds are pools invested and shared.

Because of this
1. It does not achieve adequacy for all. In fact elderly poverty is a growing problem in Singapore. You see elderly working in poor health.

2. It amplify the inequality in our society. In other pension schemes the amount of sharing is higher send help to alleviate this.

I feel CPF is just another every man for himself scheme. Once it starts that way, it is difficult to change to a pool and share scheme ....People will not accept. You have to start the scheme as a pool and share and tell higher income earner to do their part ....now its too late to change.

If CPF cannot achieve high levels of adequacy, alleviate elderly poverty and enable every elderly to have sufficient to retire on.....what is its relevance and long term goals?

I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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#10

(11-09-2022, 09:45 PM)FartSunKing Wrote:  CPF is a WORLD CLASS retirement savings scheme

For Singaporean citizens and PRs

Who are willing to work until PAP's retirement age

Not for whiny jobless little ccbais like ola

Or run road to suck angmo pricks traitors like scythain

Thanks to PAP, Singaporeans & PRs will have at least a MILLION in their CPF

By the time they are between 55 to 67 retirement age

Just like what PSLE genius 5354 has in his CPF in 2018, age 56

Song boh?

[Image: ErukD5c.png?2]

Unless one top úp using cash or earn a lot using CPF to invest or flip HDB, it's impossible to have 1 million just by working.
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#11

(12-09-2022, 09:35 AM)winbig Wrote:  Unless one top úp using cash or earn a lot using CPF to invest or flip HDB, it's impossible to have 1 million just by working.

he throw in cash
ge already said before 
cpf his wife cannot touch
so he has excuse not to give
his wife family keep after him for money to buy house farm etc 

I see through him
selfish fellow
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#12

(12-09-2022, 09:35 AM)winbig Wrote:  Unless one top úp using cash or earn a lot using CPF to invest or flip HDB, it's impossible to have 1 million just by working.

Mostly true but not exactly true.

It can be achieved using CPFIS through proper regular investing into a global fund.

From age 25 to 65 there is 40yrs.Average return is 7%.

Will hit more than 1M.

Loo method is for both husband and wife to max out the CPFSA at age 30+ then let it grow at 4%....combined will hit 1M by 65.

Problem is many take out to buy property and CPF becomes empty at age 30-35....then they use CPF contribution to service property loan.

I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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#13

(12-09-2022, 09:42 AM)sgbuffett Wrote:  Mostly true but not exactly true.

It can be achieved using CPFIS through proper regular investing into a global fund.

From age 25 to 65 there is 40yrs.Average return is 7%.

Will hit more than 1M.

Loo method is for both husband and wife to max out the CPFSA at age 30+ then let it grow at 4%....combined will hit 1M by 65.

Problem is many take out to buy property and CPF becomes empty at age 30-35....then they use CPF contribution to service property loan.
U missed out another method. That is to use CPF to invest by following the reverse indicator.  Rotfl
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#14

The future is bleak for everyone who cannot accumulate enough for their golden years and that is particularly true as the $million dollar hdb flats become the norm

You have to think outside the box, literally live out your remaining years outside of the country to stretch your dollar
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#15

(12-09-2022, 09:39 AM)Talent Wrote:  he throw in cash
ge already said before 
cpf his wife cannot touch
so he has excuse not to give
his wife family keep after him for money to buy house farm etc 

I see through him
selfish fellow



That is why he can only show his own CPF

never his bank statements, not any mutual funds or bonds he invested

When he die, he should be buried with his trash

so that he can feel like an "Emperor"

Why do we need 5 Mayors and 80 PAP Ministers? 
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#16

(12-09-2022, 10:33 AM)Ola Wrote:  That is why he can only show his own CPF

never his bank statements, not any mutual funds or bonds he invested

When he die, he should be buried with his trash

so that he can feel like an "Emperor"

The CPF statement he displayed here showed conclusively he is an idiot who doesn't know what to do with his money, nor does he understand the purpose of CPF.
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#17

(11-09-2022, 08:25 PM)Scythian Wrote:  Our CPF savings poorly managed resulted 450K recd $350 payouts.

In 2018, MoM Josephine Teo reported in Parliament that 450,000 pensioners age 65 and above receiving average $350 payouts.

How to survive 🤪?
i call them cause i forgotten, i will receive 1200 starting next year..WTF. if i put that on Amzn or Goog 10 yrs ago,now huat huat.
1200 also cannot beat inflation ,,next yr will be even worse.
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#18

(12-09-2022, 01:45 PM)FartSunKing Wrote:  Ladies and gentlemen

Please engage your brain as I prove to you

Even cleaners or fast fooders like sgbuffett

Will have a MILLION in their CPF

By the time they are between 55 to PAP's retirement age (65 by 2030)

U always salute PAP,, i tell u what u and sentinel go and wash Lawrence and LHL toilet as a token of appreaciation.
Or u all go clean up rochor canal.

Then it will be their turn to say"Thank u Faretsunking and sentimental guy"
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#19

(11-09-2022, 08:36 PM)Ola Wrote:  639k are elderly residents

So, 70% of those retirees rec'd $350/ mth

Wah phiang! PAP really cannot run a national CPF for us well

Sack Mr Suay and JoTeo immediately, lah!

Why do we need 5 Mayors and 80 PAP Ministers? 
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#20

(12-09-2022, 01:55 PM)FartSunKing Wrote:  Thanks to PAP, the average wage of a cleaner or fast fooder will definitely be above $3,500 a month from annual wage increments over 44 years of working life

Just take a look at the PWM chart for cleaners below

Starting pay for the lowest rank entry level cleaner will be $2,420 a month by 2028

[Image: Fb1U4qw.png]
those figure are fake and provided by govt and u.. cleaner are paid only 1k so are tray collector, i ask them personnally,

i think u go wash yr face at rochor canal..and help PAP to get more vote.

3500$ per month, KNN. u must be a real "fart"
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#21

(12-09-2022, 02:06 PM)FartSunKing Wrote:  Every month 37% or $1,295 of the average monthly wage of $3,500 will go into the cleaner/fast fooder CPF account

A cleaner/fast fooder CPF savings will grow by at least $1,295 X 13 = $16,835 a year thanks to PAP's 13th month bonus pay

Now you just compound $16,835 annual addition over 37 years with 2.5% CPF OA annual interest

You will have $1,030,761.54

That proves beyond doubt low wage workers like cleaners and fast fooders

Will have a MILLION in their CPF by the time they are 37 years + 21 years = 58 years old

2.5% can beat inflation ??? I think u go wash yr face with PAP urine,,,
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#22

(11-09-2022, 08:36 PM)Ola Wrote:  639k are elderly residents

So, 70% of those retirees rec'd $350/ mth

Wah phiang! PAP really cannot run a national CPF for us well

Sack Mr Suay and JoTeo immediately, lah!

Why do we need 5 Mayors and 80 PAP Ministers? 
Reply
#23

(11-09-2022, 08:25 PM)Scythian Wrote:  Our CPF savings poorly managed resulted 450K recd $350 payouts.

In 2018, MoM Josephine Teo reported in Parliament that 450,000 pensioners age 65 and above receiving average $350 payouts.

How to survive 🤪?


these old farts deserve it................for sleepwalking thru elections all these decades..........
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#24

(12-09-2022, 03:15 PM)Napoleon Porlumpar Wrote:  these old farts deserve it................for sleepwalking thru elections all these decades..........


They set the pace by allowing PAP to continuously importing foreigners to become new citizens to replace them in the ballot box.

Born Singaporeans are heading for extinction.
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#25

.
Lousy CPF management
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#26

(11-09-2022, 08:36 PM)Ola Wrote:  639k are elderly residents

So, 70% of those retirees rec'd $350/ mth

Wah phiang! PAP really cannot run a national CPF for us well

Sack Mr Suay and JoTeo immediately, lah!


We are "fcked by PAP" , quoting Jac Lau King

So must Vote them OUT

Why do we need 5 Mayors and 80 PAP Ministers? 
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#27

(14-09-2022, 08:05 AM)FartSunKing Wrote:  [Image: fx3yQsk.gif]

This will not stop unless  GIC pays CPF members the right price of borrowing $$$ from them.

Not all uses $$$ for purchase of HDB and house
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