China only started developing 20 years ago but is already ahead of us in setting salary scale and also pension scheme.
It is a known secret.
Cannot retire happily…
(12-03-2022, 09:53 AM)lylcnn Wrote: [ -> ]Income tax rate 30%
But their retirement age is at 55 years old.
That is why JoTeo is truly useless and just cannot even make us proud citizens
Walks like a duck, talks like a duck and it must be a duck.
Sack her, lah.
I do not like the pap but it is a stretch to say China system is better than ours.
The per capita GDP is same as malaysia but most people are poor due to much higher income gap.
People have the option to retire in lower tier city at 55 by down grading ...its the same as a Singaporean retiring in JB.
There are many things jn ajngapore that can be improved esp the CPF that fails to ensure adequacy for too many people
Never heard of 五宝。U talking about 五险一金 is it?
(13-03-2022, 06:30 PM)sgbuffett Wrote: [ -> ]I do not like the pap but it is a stretch to say China system is better than ours.
The per capita GDP is same as malaysia but most people are poor due to much higher income gap.
People have the option to retire in lower tier city at 55 by down grading ...its the same as a Singaporean retiring in JB.
There are many things jn ajngapore that can be improved esp the CPF that fails to ensure adequacy for too many people
Singapore is 250 times smaller than China
But PAP cannot handle our jobs nor pension
PAP is just over- rated and cannot cover the 5 critical AREAS like China
PAP can only BS and be Ministers of India
(13-03-2022, 06:24 PM)Ola Wrote: [ -> ]But their retirement age is at 55 years old.
That is why JoTeo is truly useless and just cannot even make us proud citizens
Walks like a duck, talks like a duck and it must be a duck.
Sack her, lah.
For women even better. Retirement age is 50.
(13-03-2022, 07:32 PM)Blasterlord2 Wrote: [ -> ]For women even better. Retirement age is 50.
That idiotic Shoot Blank Queen increased the legal retirement age instead of decreasing it
If people want to work at 70 years old, no need for such a dumb wayang using law
The Re- Employment Act is sufficient
She is proving herself 10 times as totally hopeless and making our lives more miserable
Worst, what has she done to pave Top 10 Good Jobs for retirees?
Only know how to add problems to our problems.
![[Image: JT-Raise-retirement-age-to-67.gif]](https://i.ibb.co/sJskzf4/JT-Raise-retirement-age-to-67.gif)
Cannot compare without any figures. Their system is working on an insurance basis which means they would have to pay a premium to get the benefit when they retired or when they are sick. Nothing belongs to them. Think all "makan" by the Government if you don't and cannot claim the insurance. All the insurance premium are being paid for by the employers.
They will insure you almost everything from medical to unemployment etc
If one were to look at the premium the companies are paying, one will find that this system is not sustainable. It will cost the employers a bomb; luckily, their salary is low. Many employers cheated because they can't afford to pay the premium. Also, one will have to apply case by case to get the payout from the insurance. Understand that not all cases will automatically get an insurance payout, just like any other insurance scheme.
This article give an example of the contribution for the insurance. The maximium premium to be paid can be 3 times the worker's salary. It sounds like a blood-sucking system to me.
Quote:[Social security contribution base = Previous year’s total income / 12*
*For new hires, the starting salary may be used as the social security base during the first year.
Secondly, the base figures for social security contributions have floors and ceilings. Generally, the contribution base is capped at 300 percent of the average local salary. And the minimum contribution base is usually decided either by the local minimum wage or certain percentage of the average local wage.
For example, Guangdong’s average salary in 2018 was RMB 6,338 (US$894.04). The maximum monthly contribution base for an employee who works in Guangdong is three times this amount – RMB 19,014 (US$ 2,682.11) and the minimum contribution base is 60 percent of this amount – RMB 3,803 (US$ 536.45). (US$1 = RMB 7.09).
https://www.china-briefing.com/news/chin...explainer/ ]
(13-03-2022, 06:43 PM)Ola Wrote: [ -> ]Singapore is 250 times smaller than China
But PAP cannot handle our jobs nor pension
PAP is just over- rated and cannot cover the 5 critical AREAS like China
PAP can only BS and be Ministers of India
Malaysia is already over 450 times the size of Singapore.
China is only 250 times the size of Singapore ah?
Wu yia bo?
(13-03-2022, 08:56 PM)revealer Wrote: [ -> ]Cannot compare without any figures. Their system is working on an insurance basis which means they would have to pay a premium to get the benefit when they retired or when they are sick. Nothing belongs to them. Think all "makan" by the Government if you don't and cannot claim the insurance. All the insurance premium are being paid for by the employers.
They will insure you almost everything from medical to unemployment etc
If one were to look at the premium the companies are paying, one will find that this system is not sustainable. It will cost the employers a bomb; luckily, their salary is low. Many employers cheated because they can't afford to pay the premium. Also, one will have to apply case by case to get the payout from the insurance. Understand that not all cases will automatically get an insurance payout, just like any other insurance scheme.
This article give an example of the contribution for the insurance. The maximium premium to be paid can be 3 times the worker's salary. Looks like a blood sucking system to me.
Ours is similar to insurance premiums, too. We pay to get the benefit. The more we pay, the more we get.
Our Eldershield is also case- by- case. Many cases seemed to be rejected after assessment of old people.
(13-03-2022, 08:56 PM)revealer Wrote: [ -> ]If one were to look at the premium the companies are paying, one will find that this system is not sustainable. It will cost the employers a bomb; luckily, their salary is low. Many employers cheated because they can't afford to pay the premium. Also, one will have to apply case by case to get the payout from the insurance. Understand that not all cases will automatically get an insurance payout, just like any other insurance scheme.
I just checked, The employees also pay their portion of social security but less than half the rates of companies.
It cost the Employer a bomb but beneficial to employees.
Their 5 areas of coverage is more complete than Singapore CPF.
(13-03-2022, 06:30 PM)sgbuffett Wrote: [ -> ]I do not like the pap but it is a stretch to say China system is better than ours.
The per capita GDP is same as malaysia but most people are poor due to much higher income gap.
People have the option to retire in lower tier city at 55 by down grading ...its the same as a Singaporean retiring in JB.
There are many things jn ajngapore that can be improved esp the CPF that fails to ensure adequacy for too many people
But webinariansai and a bunch of commie con fools say china gdp is higher than USA and Singapore, they are richer than us
