*Thank for all your sharing and answers. I have a better idea now.
Why do we need 5 Mayors and 80 PAP Ministers?
(18-02-2024, 02:20 PM)Ola Wrote: Can PAP elaborate what few schemes are available for them
to build 0.7163 of allocation into OA + SA
that is $84,022 into their RA at 55 year-old within 10 or 14 mths??
(18-02-2024, 02:52 PM)LittleBirdStreet Wrote: Based on current pace of inflation, by the time you retire the monthly payout will not be enough to survive. $1.5k-1.8k looks ok now but 20-30 years later a plate of chicken rice could cost $10-15 at least, Kopi or Teh may cost $6-7
(18-02-2024, 04:42 PM)Ola Wrote: Yes, I know.
So, what has the useless PAP done to ensure that 54 years old now earn $ 20,000/mth
so that he can top up $7,650/ mth into CPF for RA next year?
Even Primary 1 kid knows how to change the number
(18-02-2024, 07:47 PM)sgh Wrote: ERS is not mandatory. You can go for BRS or FRS those are the bare minimum. ERS is to provide option to ppl who want to have more monies at age 65 where every month give you more allowance.
(18-02-2024, 07:54 PM)sgh Wrote: You will be surprised there are some who will. They want to maintain the same lifestyle when they are working drive big car live big condo travel overseas every year etc.
(18-02-2024, 07:56 PM)p1acebo Wrote: Can easily do the same by leaving inside the SA at the same rate 4%. Plus all the interests go back to our own SA. Not so for the CPF Life premium upon 65. All your interests for the entire lump sum surrendered to the common pool henceforth
(18-02-2024, 08:07 PM)sgh Wrote: But the SA will disappear soon so to maintain same lifestyle after age 65 they need the RA monthly payout more so means will put to ERS. This is reply to your earlier post why anyone wanna top-up to ERS