[Napoleon Porlumpar]

The CPF Life scheme us a safety net for those who live very long. Break even is upwards  of 83yos old.

If you die before your interest in the pools heroes to those who live longer.

CPF Life is not a scam. It uses the money of those who die younger to pay for those who live longer.
If u live to be 100 you will benefit greatly...if you live to only 75yo . ..you get some back in bequest interest earned will go to common pool.

If you suspect you will die earlier
1. Use your property as pledge and take all money out of RA leaving only the BRS amount instead of FRS.

2. Chose the CPF Life Basic rather than standard tk maximise bequest.

i say it's a scam becoz they don't give compound interest after you turn 65yo............

CPF is really under heavy stress now................just hope i will die before CPF does.........

[Napoleon Porlumpar]

of course includes the compounded interest, at the rate of 5%-6%

if you don't know, just ask.  don't make stupid conclusion.

as long as the amount is based on amount from 55yo to 65yo (with compound interest) then it's ok..........

if the amount is based on 55yo then jialat liao............

[drgn]

i say it's a scam becoz they don't give compound interest after you turn 65yo............

CPF is really under heavy stress now................just hope i will die before CPF does.........

still give compound interest after 65 yo.

don't know just ask, don't give stupid conclusion.

now, double confirmed, you are like that.

[Napoleon Porlumpar]

still give compound interest after 65 yo.

don't know just ask, don't give stupid conclusion.

now, double confirmed, you are like that.

still got interest meh ?

i thought they pay you out monthly based on what you have in RA at 65yo ?

[RichDad]

still got interest meh ?

i thought they pay you out monthly based on what you have in RA at 65yo ?

Interest and other investment returns go into the risk pool of annuities. You only get the monthly payout until death.

Compound interest is only paid before 65 to build up the final amount to enter the pool.

Why still ask compound interest??

[Napoleon Porlumpar]

Interest and other investment returns go into the risk pool of annuities.  You only get the monthly payout until death.

Compound interest is only paid before 65 to build up the final amount to enter the pool.

Why still ask compound interest??

yah lah...............compound interest paid to account till 65yo..............then monthly payout from that amount.............

but last time. you get interest on your account till you mati mah..............so the whole point of CPF Life is to save on the interests

[sgbuffett]

i say it's a scam becoz they don't give compound interest after you turn 65yo............

CPF is really under heavy stress now................just hope i will die before CPF does.........

It compounds and compound interest goes into common pool after 65. How else would you do risk pooling?

So long as all the money stay in the scheme for payouts it is not a scam.

I do not like CPF Life but it is incorrect to say it's a scam just because you don't like the scheme.

[item2sell]

It compounds and compound interest goes into common pool after 65. How else would you do risk pooling?

So long as all the money stay in the scheme for payouts it is not a scam.

I do not like CPF Life but it is incorrect to say it's a scam just because you don't like the scheme.

Before 65, CPF compounded interest belongs to YOU.

After 65, CPF compounded interest belongs to POOL.
If you live beyond 90, Your money comes from the people who are dead between 65-90.

[sgbuffett]

Before 65, CPF compounded interest belongs to YOU.

After 65, CPF compounded interest belongs to POOL.
If you live beyond 90, Your money comes from the people who are dead between 65-90.

Right...