(05-01-2025, 08:48 PM)talky Wrote:  v clear explaination

(05-01-2025, 09:34 PM)singaporean1964 Wrote:  so lawrence wong very clever
immediately he became PM
he immediately rob reveryone of 1.5% interest..LOL
4% go to 2.5%..means 1.5% less

he is better than lee sian long
sian long just outright rob u in public by increase gst..
lw use 'magic' or slegde of hand that almost no one understand wat or how he rob pple...LOL

(05-01-2025, 09:34 PM)singaporean1964 Wrote:  so lawrence wong very clever
immediately he became PM
he immediately rob reveryone of 1.5% interest..LOL
4% go to 2.5%..means 1.5% less

he is better than lee sian long
sian long just outright rob u in public by increase gst..
lw use 'magic' or slegde of hand that almost no one understand wat or how he rob pple...LOL

(06-01-2025, 02:24 AM)sgbuffett Wrote:  The scary thing is he even came out with a rationalisation for doing so. A leader who is good with coming out with inventing a reason to take something from you will keep doing it with no end.

CPF SA has been there for decades giving Singaporeans middle class and below a means to save some money with a bit higher interest to keep up with inflation.

Lawrence Wong came out with a reason to take away this from Singaporeans saying that because SA is paying long term rate it cannot be giving flexibility of being withdrawable. Did he show evidence that people do not keep money in RA for long term? 
It's just an excuse to take something away.

Now he is our prime minister....good luck having a bean counter mindset guy at the top.

(05-01-2025, 09:19 AM)sgbuffett Wrote:  There is one last loophole.
Let me explain.
CPF RA is stuck until you are age 65. Then you can take out monthly payout. This is what everyone thinks.

But this is not true.

Anytime the RA can be withdrawn up to half of what is inside by pledging your property.

The govt and media.avoids informing people abt this because they want to take your money to go to pool and fund others.

Those with health issues like diabetes, heart problems, kidney issues etc your chance of reaxhing breakeven age is lower so likely you lose money to the pool.

(06-01-2025, 07:39 AM)p1acebo Wrote:  Because quite a few people beri smart.  They would rather leave all their remaining funds in SA (after fulfilling FRS) than transfer to the RA ERS black hole.  SA you can anytime take out (after 55) and very flexible.  

Note: In SA you are also earning the same 4% as in RA but with NONE of the restrictions in RA.

For RA if you increase to ERS (the even heftier sums so forgo more interest) your hard earned monies are locked during your lifetime.  

If you on Standard or Escalating plan when you enter CPFLife at 65 then you no longer earn any interests on your lump sum (go common pool) till the day you die. They term it buying the CPFLife “premium”

Means you 65-85 (or till the day you die) no interests.  In the past imagine how much you can earn risk-free if you had just left in SA 4% instead of now OA 2.5%

That’s the real reason why chenghu closed SA for those from 55yrs onwards this year. So the govt is not that benevolent as you may wish to think    

Also if you mati from 80s onwards, then good luck to your descendants they get nothing 

(05-01-2025, 08:48 PM)talky Wrote:  v clear explaination

If mati eariler just after 55 & or be4, 65 or 70...How lehh?.

(06-01-2025, 08:25 AM)p1acebo Wrote:  There is one more.  Just before you turn 65 (default is 70 yrs) you can withdraw another 20% of your funds. Last chance 

But you get less corresponding payout too.  There is no free lunch

(06-01-2025, 11:10 AM)Huliwang Wrote:  I think the revamped system is much better than the previous one which is so complicated. Dunno why Butt complaining so much.     

(06-01-2025, 03:03 AM)FartSunKing Wrote:  you fcuking despicable liar, stop spreading misinformation to discredit our PM

You no job, no CPF, below 55, no right to comment on the closure of CPF SA for those above 55 with a corresponding increase in ERS from 3XBRS to 4XBRS

(06-01-2025, 11:42 AM)Tee tiong huat Wrote:  There is one that said by govt >CPF $$$<. One must ask Lawyer to prepare signing he or she.

oneself CPF money be benefits to who he or she wish, if he or she gave, right ..?. 

(05-01-2025, 09:34 PM)singaporean1964 Wrote:  so lawrence wong very clever
immediately he became PM
he immediately rob reveryone of 1.5% interest..LOL
4% go to 2.5%..means 1.5% less

he is better than lee sian long
sian long just outright rob u in public by increase gst..
lw use 'magic' or slegde of hand that almost no one understand wat or how he rob pple...LOL

(05-01-2025, 09:47 PM)sgxin Wrote:  Her RA interest of 4% is not correct imo. It should be 0% for those under CPF Life since CPF will not be paying the accrued RA interest to the beneficiaries. 
Only those under RSS (born in or before 1957) get the 4% interest.

How much CPF LIFE premium balance will my beneficiaries receive when I pass away?
https://www.cpf.gov.sg/service/article/how-much-cpf-life-premium-balance-will-my-beneficiaries-receive-when-i-pass-away[/b]
For example, if you paid a CPF LIFE premium of $200,000 and pass away after receiving a monthly payout of $1,000 for 10 months, we will pay your CPF LIFE premium balance of $190,000 (i.e. $200,000 - [$1,000 x 10 months]), together with any CPF savings to your beneficiaries.
 
On the other hand, if you pass away before receiving any payouts, we will pay your CPF LIFE premium balance of $200,000, together with any remaining CPF savings to your beneficiaries.

(07-01-2025, 07:25 AM)Tee tiong huat Wrote:  How much CPF LIFE premium balance will my beneficiaries receive when I pass away?.

???, if oneself is fully too rich?.  whah  if another one is very poor...how???.

(07-01-2025, 07:34 AM)p1acebo Wrote:  Many variables.  Depends you choose BRS FRS ERS.  Depends you choose basic plan, standard plan, escalating plan.  Depends when you start CPFLife 65-70. Depends on when you die. Etc

No straightforward answer

(07-01-2025, 08:01 AM)sgbuffett Wrote:  With CPF Life the PAP turn a simple minimum sum scheme to something complex...with many win lose out comes that is difficult to fathom.

Now some poeple cheer them for removing SA saying they have simplified the CPF. They complicate it by 10x then simplify it a bit.  .

SA is a simple savings scheme which most use for long term savings. Sure there is some flexibility to wothdraw when one has an emergency but vast majority use it as a long term savings plan. It  is simple and clean....benefitted thousands of Singaporeans. Why remove it?

(07-01-2025, 08:05 AM)p1acebo Wrote:  According to chenghu it only benefited the minority rich  

(07-01-2025, 07:34 AM)p1acebo Wrote:  Many variables.  Depends you choose BRS FRS ERS.  Depends you choose basic plan, standard plan, escalating plan.  Depends when you start CPFLife 65-70. Depends on when you die. Etc

No straightforward answer  (yes)

(07-01-2025, 09:14 AM)Tee tiong huat Wrote:  ONLY!. Second half of January 2025, your CPF Special Account (SA) will be closed if you are aged 55 and above...

Note: This no-1 to 5 Option...

(07-01-2025, 08:05 AM)p1acebo Wrote:  According to chenghu it only benefited the minority rich