SG Talk

Do you want to know Why CPF Board cannot afford to pay your OA interest higher than 2.50%?

HDB has a deficit of 4.2B

(01-11-2022, 04:19 AM)singlon Wrote: [ -> ]HDB has a deficit of 4.2B

22,000 MHA staff be getting increment between 3 - 10% in Jan 2023

Why CPF cannot pay higher OA rate ?

You did not observe they keep brainwashing us HDB has been making billions of losses… But how come HDB hasnt closed shop yet.

how i wish i could take out my cpf now and all in into other products that have higher yield

(01-11-2022, 06:29 AM)RiseofAsia Wrote: [ -> ]You did not observe they keep brainwashing us HDB has been making billions of losses… But how come HDB hasnt closed shop yet.

All sorts of excuses to make them looks caring and concerned for the people.

BS

(01-11-2022, 05:34 AM)ysh02 Wrote: [ -> ]Why CPF cannot pay higher OA rate ?

alamak, bro.................at 18yo.............i figured out CPF is just a ponzi game............the 1st time i ever thought about CPF................

COMPOUNDING INTEREST on a principal sum that's increasing every month.....................an IMPOSSIBLE situation.............

if you're in your 20s..............you'll never see your CPF money............

(01-11-2022, 08:59 AM)Napoleon Porlumpar Wrote: [ -> ]alamak, bro.................at 18yo.............i figured out CPF is just a ponzi game............the 1st time i ever thought about CPF................

COMPOUNDING INTEREST on a principal sum that's increasing every month.....................an IMPOSSIBLE situation.............

if you're in your 20s..............you'll never see your CPF money............

Obviously something isn't right the way they manage a national pension funds.

How can they squeeze those whose feeding them?

..

A dumbfounded Finance Minister must be puzzled by CPF CEO suppressing OA interest rates when every major economy is hiking interest rates.

Why is he bullying age pensioners?

(01-11-2022, 06:29 AM)RiseofAsia Wrote: [ -> ]You did not observe they keep brainwashing us HDB has been making billions of losses… But how come HDB hasnt closed shop yet.

GIC has taken Est 85% - 95% CPF savings  already invested and bought assets overseas in longer term..

Very Little cash left in CPF Board today.

(01-11-2022, 08:38 AM)Scythian Wrote: [ -> ]All sorts of excuses to make them looks caring and concerned for the people.

BS

Let say a person earns $5k each month
$60k per year excluding bonuses and yearly increment etc and spend $30k each year.
A flat selling at $400k it only takes less than 15 years to own a new flat
With government subsidies etc
HDB flat still unaffordable?

Because they were paying us 2.5% while bank FD was 0.xx % ?

CPF board may consider raise the interest rate higher than 2.5 %
when GST increases to 8% next year
The tricky part is can CPF increases flat loan rate higher than 2.6%?
Is 2.6 % loan rate permanently fixed?

(03-11-2022, 08:11 AM)Oasis Wrote: [ -> ]CPF board may consider raise the interest rate higher than 2.5 %
when GST increases to 8% next year
The tricky part is can CPF increases flat loan rate higher than 2.6%?
Is 2.6 % loan rate permanently fixed?

CPF Board objective is to manage pension funds and provide maximum returns for future retirements.

CPF is not a bank so, rightly, should not get involved in loans and mortgage financing .as they are done by commercial banks.

Why compete with the banks?

Of cos can. No doubt can.

(03-11-2022, 08:19 AM)Scythian Wrote: [ -> ]CPF Board objective is to manage pension funds and provide maximum returns for future retirements.

CPF is not a bank so, rightly, should not get involved in loans and mortgage financing .as they are done by commercial banks.

Why compete with the banks?

By your logic
Yes , CPF should not provide loan rate at 2.6% compete with bank .

(03-11-2022, 08:45 AM)Oasis Wrote: [ -> ]By your logic
Yes , CPF should not provide loan rate at 2.6% compete with bank .

CPF does not provide any loans to us.
We use our CPF to pay instalments on our housing  loans from the banks and from HDB.

(03-11-2022, 08:11 AM)Oasis Wrote: [ -> ]CPF board may consider raise the interest rate higher than 2.5 %
when GST increases to 8% next year
The tricky part is can CPF increases flat loan rate higher than 2.6%?
Is 2.6 % loan rate permanently fixed?

The loan rates depends on the banks and on HDB. They are the ones giving the loans and charging interest.  CPF is just a mode of payment we use instead of paying cash

(03-11-2022, 08:11 AM)Oasis Wrote: [ -> ]CPF board may consider raise the interest rate higher than 2.5 %
when GST increases to 8% next year
The tricky part is can CPF increases flat loan rate higher than 2.6%?
Is 2.6 % loan rate permanently fixed?

now HDB HLE all based on 3% liao. so likely will go up to 3.1%

Not sure leh

(03-11-2022, 06:47 AM)Oasis Wrote: [ -> ]Let say a person earns $5k each month
$60k per year excluding bonuses and yearly increment etc and spend $30k each year.
A flat selling at $400k it only takes less than 15 years to own a new flat
With government subsidies etc
HDB flat still unaffordable?

So zero interest charge? u presume everything based on zero interest and salaries paid all in full without deducting cpf?

ur calculation is based on fairy tales.

(03-11-2022, 08:57 AM)Ahnya Wrote: [ -> ]The loan rates depends on the banks and on HDB. They are the ones giving the loans and charging interest.  CPF is just a mode of payment we use instead of paying cash

Even today, many Singapore still don't understand how HDB mortgages work,?

It shows the Govt, CPF and HDB did not provide clear instructions and  definition on mortgages

(01-11-2022, 03:58 AM)Scythian Wrote: [ -> ]Do you want to know Why CPF Board cannot afford to pay your OA interest higher than 2.50%?

Because, we lan lan? Yes?

(03-11-2022, 08:57 AM)Ahnya Wrote: [ -> ]The loan rates depends on the banks and on HDB. They are the ones giving the loans and charging interest.  CPF is just a mode of payment we use instead of paying cash

.
If so, why is CPF CEO so afraid to hike OA interest rate to 3.5% ?

(03-11-2022, 07:44 PM)Tangsen Wrote: [ -> ]Because, we lan lan? Yes?

So many CPF members being fucked upside down,and yet, still saying CPF Board very good

(03-11-2022, 07:44 PM)Tangsen Wrote: [ -> ]Because, we lan lan? Yes?

No countries in the world follows Singapore CPF pension system. Why?

It cannot work in other countries becoz their citizens are not stupid...

(03-11-2022, 07:45 PM)Scythian Wrote: [ -> ].
If so, why is CPF CEO so afraid to hike OA interest rate to 3.5% ?

There is a fixed formula. 
You want to blame someone... go blame the banks,  and perhaps the thousands of ordinary people who go rushing for the promo FDs. As long as the banks refuse to raise their board rates for interest,  the resulting rate for OA will not rise.
The banks can take in enough deposits from the promos  , so they won't raise the board rates

(01-11-2022, 03:58 AM)Scythian Wrote: [ -> ]Do you want to know Why CPF Board cannot afford to pay your OA interest higher than 2.50%?

(01-11-2022, 04:19 AM)singlon Wrote: [ -> ]HDB has a deficit of 4.2B

yes

can pay WORLD HIGHEST MILLION DOLLARS MINISTERS PAYCHECK

but other cannot pay high

must learn from
UK with EU for 50 years
BREXIT

vote PAP OUT!

(03-11-2022, 07:43 PM)Scythian Wrote: [ -> ]Even today, many Singapore still don't understand how HDB mortgages work,?

It shows the Govt, CPF and HDB did not provide clear instructions and  definition on mortgages

Nah. Shows that many people don't bother to read .
Personally I find CPF regulations confusing.  But at least I know where the loan for my HDB came from ...HDB, not CPF . Fully paid up long ago.