NTUC calls for review of CPF wage ceiling

[songboh9696]

They are priming for next Minimum Sum increase going along LOL...

cant teach an old dog new tricks.

 

[SmallQuietDog]

those earning 6k and above are more likely to be able to plan their finance better? no?

Why need to increase ceiling to "Help Them" as described by NTUC!!

HELP!!!!

Must be CPF low on funds liao, government coffers dangerously empty. So now have to drag those 6k earners into the milking machine to leech from them even more.

 

[Entry Level PC]

https://www.straitstimes.com/singap...gn=stfb&utm_medium=social&utm_source=facebook
SINGAPORE - The National Trades Union Congress (NTUC) is calling for Central Provident Fund (CPF) contribution salary ceilings to be reviewed to ensure middle-income workers have enough retirement funds in their accounts.

This will allow CPF savings to keep pace with wage growth, and it is one way the labour movement is looking to improve retirement adequacy for workers here, said NTUC deputy secretary-general Heng Chee How on Tuesday (Feb 15).

CPF salary ceilings were last raised six years ago, when the Ordinary Wage ceiling went up from $5,000 a month to $6,000 a month

knn
CPF Ceiling going to 7k liao?
Employer Contribution also going up?

 

[wwenze]

Increase for what when median income is <$5k

i.e. more than 50% of Singaporeans can't even hit the current ceiling

 

[wwenze]

Must be CPF low on funds liao, government coffers dangerously empty. So now have to drag those 6k earners into the milking machine to leech from them even more.

This is really dangerous and shows this government has lost its mind already

The reason we need income ceiling is so that we don't overbenefit the superrich. These people with lots of money to throw, will willingly throw money into 2.5% or 4%.

If CPF is supposed to be a retirement fund, it should be a social responsibility that ensures everyone is cared for equally. The fact that a social system's retirement amount even depends on your salary is already stupid, but that is where the income ceiling helps to equalize.

So by increasing the current limit which over half of Singaporeans won't reach anyway, we all know what is the reason behind. And the ones suffering would be those who paid now but will not get the benefits later. There is a word to describe this that starts with "p".

 

[BoringDay]

No worry lah.. i earn 1.8k one so not effected.. those who earn 7k -8k.. gd luck..

 

[crazycow]

knn
CPF Ceiling going to 7k liao?
Employer Contribution also going up?

That's the only upside i guess

 

[crazycow]

It really doesnt make sense to increase wage ceiling for this group of people when majority earns less than them. It's like the government helping those who earn more for their retirement?

 

[meesiam_maihum]

The most useless union in the history of mankind.

 

[Sultana]

NTUC oso build up by ppl's seed money. Now making profit and collaborate gao as machinery liao..
Be wary once they take control of Hawker Centres.

 

[wahkau]

See la one complain on their dishonest act now NTUC starts to fight back report police for not returning trolley and raise CPF really small gas

 

[inmyopinion]

https://www.straitstimes.com/singap...gn=stfb&utm_medium=social&utm_source=facebook
SINGAPORE - The National Trades Union Congress (NTUC) is calling for Central Provident Fund (CPF) contribution salary ceilings to be reviewed to ensure middle-income workers have enough retirement funds in their accounts.

This will allow CPF savings to keep pace with wage growth, and it is one way the labour movement is looking to improve retirement adequacy for workers here, said NTUC deputy secretary-general Heng Chee How on Tuesday (Feb 15).

CPF salary ceilings were last raised six years ago, when the Ordinary Wage ceiling went up from $5,000 a month to $6,000 a month

No matter how much they lock or put aside for retirement it won't work, unless u don't allow them to use cpf to buy property.

 

[Nesplex]

So when can I take out all my CPF money?

 

[SmallQuietDog]

This is really dangerous and shows this government has lost its mind already

The reason we need income ceiling is so that we don't overbenefit the superrich. These people with lots of money to throw, will willingly throw money into 2.5% or 4%.

If CPF is supposed to be a retirement fund, it should be a social responsibility that ensures everyone is cared for equally. The fact that a social system's retirement amount even depends on your salary is already stupid, but that is where the income ceiling helps to equalize.

So by increasing the current limit which over half of Singaporeans won't reach anyway, we all know what is the reason behind. And the ones suffering would be those who paid now but will not get the benefits later. There is a word to describe this that starts with "p".

Problem is they don't care. By bringing in the 6k earners into range, they will have a temporary boost to the coffers, and that is probably what they want. They are known for short term thinking and kicking the can down the road, so such actions are not surprising.

 

[swathe]

Later the CPF balance increase too fast, then the minimum sum FRS will increase

 

[Prime1984]

Later the CPF balance increase too fast, then the minimum sum FRS will increase

Yup, that is the likely sequence of events. Lol

 

[TheITGuy]

Knnb this ish the real traitor

 

[kleong]

scale issue how?

 

[questsohai]

there should be a cap for minimum sum. every year increase, one can forget about withdrawing more

 

[PapaWith3Kids]

This is really dangerous and shows this government has lost its mind already

The reason we need income ceiling is so that we don't overbenefit the superrich. These people with lots of money to throw, will willingly throw money into 2.5% or 4%.

If CPF is supposed to be a retirement fund, it should be a social responsibility that ensures everyone is cared for equally. The fact that a social system's retirement amount even depends on your salary is already stupid, but that is where the income ceiling helps to equalize.

So by increasing the current limit which over half of Singaporeans won't reach anyway, we all know what is the reason behind. And the ones suffering would be those who paid now but will not get the benefits later. There is a word to describe this that starts with "p".

Piu?
***?
Pcb?
Phailure?
Pathetic?