SG Talk

Read the 2021 article predicting the end of CPF shearling. CpF actually gives out warning about shielding ....3 yrs later the loophole is closed. 

Now people from 1M65 wants to exploit the RA loophole by putting money into RA to earn 4% then at age 65 pledge proeprpty and use the 20% withdrawal rule to take a big chunk out.....plse be warned of this strategy.

If you read the article below, it warns the govts us to keep  much in the RA account for the CPF Life scheme. So once you leave money into RA, it is not unimaginable for them to change the rules to say you can no longer pledge property or withdraw 20%. Then you are stuck.

For those who dismiss this risk, remember it used to be you can take out all at age 55 and the rules were change now you cannot. It used to be retirement time scheme in which all interest paid was to yournown account...now with CPF Life interest goes to common pools after age 65.

The best thing to do when CPF SA account is closed at age 55 is to take all the money out.

https://www.straitstimes.com/business/in...f-cpf-soon

change the government when election come, start all over with new idea. this pap is out of touch and keep shifting goal post. best is still 55 can withdraw the money. let us decides.

Why Govt take out SA , already give you a " hint ." It also show you CPF is one of the Govt asset beside HDB you " rent it ' so call.

So what it means? They can change Any New rules , regulations as time go by. Be if PAP is the ruling party or even one day Opposition become ruling party.

One thing now they do hint you also , better invest " outside " rather depend on CPF.

Remember they claim " retire at 55 with your CPF ? " Now they don't talk about it even try to recall this they use to say. Now is they encourage you even over 55 continue to work and work contribute CPF.

They will change the rules to lock up 1M65.

(17-03-2024, 06:07 PM)FartSunKing Wrote: [ -> ]The best thing  to do from age 55 is to MAXIMIZE your RA up to 4 X Basic Retirement Sum

Like what I plan to do next year

The article is not about loving or hating CPF but the risk of people exploiting another loophole when CPF SA is gone.

The new loophole may get closed.

(17-03-2024, 06:34 PM)FartSunKing Wrote: [ -> ]Ladies and gentlemen

Beware of the LIES from a CPF/PAP hater

Telling you to take all your CPF OA savings out from CPF when you reach age 55

And buy stocks like SembMarine/Seatrium or China stocks like Alibaba

What i wrote about my CPF is true.

The fact.i lost money in Semb Corp marine is true.
I lost alot of money in China stocks as I underestimated their economic problems.

I have never denied any of it.

(17-03-2024, 06:59 PM)sgbuffett Wrote: [ -> ]What i wrote about my CPF is true.

The fact.i lost money in Semb Corp marine is true.
I lost alot of money in China stocks as I underestimated their economic problems.

I have never denied any of it.

How much is a lot of money?

Don’t listen to handbag Loo. He will say anything to keep his merry band of 1M65 followers. Cash cow for him