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Old 10-09-2019, 07:37 AM   #11
THEMIKOS
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Join Date: Nov 2007
Posts: 253
U are correct. Thats why i did a comparison with the figure of $3500. So for those who are worried they cant reach FRS, all they need to do is play around with their bonuses and the figure of 1.17 to see if they ever hit 3500 monthly in whatever combinations they can think of.

Right, but it’s at least fairly likely the BRS/FRS/ERS increases won’t be as much as 3% per year for 20+ years (the government has explained they’re only in “catch up mode” right now), wages are subject to inflation and career progression effects, and most people work longer than 20 years. Also, this forecast assumes zero bonuses (evidently not even a “13th month”), zero cash top ups for tax relief, zero government top ups, zero extra employer contributions to MediSave, and zero OA to SA transfers for higher interest.
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