China cpf system is like this

[testerjp]

Prefer our own system where payout is tied to own performance. No one can take anything from us.

I don't like pooled systems. Someone will always benefit at the expense of another.

Isn't CPF life a pool system?

https://www.cpf.gov.sg/member/infoh...on a member's death, any,as long as they live.

 

[Eliwood]

No money, just extort from alibaba, tencent can liao.

Anyway, China did protect these companies from foreign competitors.

Lol then alibaba and tencent will extort from their customers which is essentially whole of china rite? End up back to sq one, unsustainable scheme.

 

[Eliwood]

Isn't CPF life a pool system?

https://www.cpf.gov.sg/member/infohub/cpf-clarifies/clarifications/4-facts-you-should-know-about-cpf-life#:~:text=Upon a member's death, any,as long as they live.

It is quite different i think. CPF life just pools the interest which is a small component.

If CPF life is a fully pooled system, then everyone shd be getting the same payout which is not the case.

 

[highsulphur]

depleted then say. 2035 then say.

now singapore cpf like already depleted

Get ready for pofma

 

[Balian]

their gov provides free elder care / nursing homes right ?

 

[MoeLanYong]

Isn't CPF life a pool system?

https://www.cpf.gov.sg/member/infohub/cpf-clarifies/clarifications/4-facts-you-should-know-about-cpf-life#:~:text=Upon a member's death, any,as long as they live.

My contribution isn't pooled. I contribute $X. I get $Y by my retirement age. No one can take that away from me.

CPF Life uses the concept of pooling to arrive at $Z payout.

With my $Y, I get my $Z payout.

Other people arrive at their own $Z based on what they contribute themselves. I don't consider it pooled result.

 

[Iyarash11]

whatever we comment, cannot bad mouth ccp else the ignorant will action

 

[testerjp]

My contribution isn't pooled. I contribute $X. I get $Y by my retirement age. No one can take that away from me.

CPF Life uses the concept of pooling to arrive at $Z payout.

With my $Y, I get my $Z payout.

Other people arrive at their own $Z based on what they contribute themselves. I don't consider it pooled result.

China one is similar la, u pay more also get more.
The RMB966 was the minimum, maximum iirc 4k plus.

What the officer said was the payout is so far always higher than what you contribute.
Example pay 966. get 1k+, pay 1966, get 2k+.

It's very similar to our CPF life except that the payout age starts earlier.

But of course, subjected to changes.

 

[testerjp]

their gov provides free elder care / nursing homes right ?

People there usually go back to their kampung for their last days.
Their hospitals are mostly cmi.

 

[MoeLanYong]

China one is similar la, u pay more also get more.
The RMB966 was the minimum, maximum iirc 4k plus.

What the officer said was the payout is so far always higher than what you receive.
Example pay 966. get 1k+, pay 1966, get 2k+.

It's very similar to our CPF life except that the payout age starts earlier.

But of course, subjected to changes.

Are the contributions and payouts counted to the last rmb or are they in brackets?

Everyone has a personal account, that is tracked to the last rmb?

 

[kan-kon]

ish china cpf oso can last for life? or depend on hao much they had saved?

if can last for life, the gahmen must be bery generous to the citizen, or the communist system is rike dat?

 

[testerjp]

Are the contributions and payouts counted to the last rmb or are they in brackets?

Everyone has a personal account, that is tracked to the last rmb?

They do have a personal account which they can log in to track all their contributions.
They can choose to forfeit and withdraw, but only withdraw up to 40% and the rest forfeited.
They can also suspend paying but simply not paying.

Actually, they can't tell what's the exact payout or how is it calculated
The reply is subjected to changes

Do we know that the exact payout calculated in CPF Life calculator today will be really the same amount to the last SGD 30 years later?

I guess not too so i think it's oddly similar.

 

[testerjp]

ish china cpf oso can last for life? or depend on hao much they had saved?

if can last for life, the gahmen must be bery generous to the citizen, or the communist system is rike dat?

Lifetime payment.

Not sure if theirs are really generous or ours are crude.
Need to benchmark with more systems to conclude.

 

[SecretAgent]

My contribution isn't pooled. I contribute $X. I get $Y by my retirement age. No one can take that away from me.

CPF Life uses the concept of pooling to arrive at $Z payout.

With my $Y, I get my $Z payout.

Other people arrive at their own $Z based on what they contribute themselves. I don't consider it pooled result.

I have to help you add on for those ignoramus who harps on China's superior 社保 system over Singapore's CPF.

社保 pool of funds are not build upon those money those tiongs contributed 20yrs back. It is withdraw from money the current working people contributes right now.

When the economy is goodl like 10yrs back for China... Everyone contributes alot and the retirees all happy. Right now, alot of 省，市干部级(provincial, district level departments) all stop paying pensions out to their retirees. Because of their collapsing economy, joblessness, contribution is cliff jumping. Not really now.. it is since middle of 2020.

Why I know? My in-laws are tiongs. When the times are good, there are surplus and got scraps to eat offered by the communists lords.

That is their superior pensioning system.

In case people not happy with our Singapore CPF and have a very clear understanding of China's system superiority, it is high time to bring it out and fire at the PAP government with it right now.

 

[hardwaregone]

I have to help you add on for those ignoramus who harps on China's superior 社保 system over Singapore's CPF.

社保 pool of funds are not build upon those money those tiongs contributed 20yrs back. It is withdraw from money the current working people contributes right now.

When the economy is goodl like 10yrs back for China... Everyone contributes alot and the retirees all happy. Right now, alot of 省，市干部级(provincial, district level departments) all stop paying pensions out to their retirees. Because of their collapsing economy, joblessness, contribution is cliff jumping. Not really now.. it is since middle of 2020.

Why I know? My in-laws are tiongs. When the times are good, there are surplus and got scraps to eat offered by the communists lords.

That is their superior pensioning system.

In case people not happy with our Singapore CPF and have a very clear understanding of China's system superiority, it is high time to bring it out and fire at the PAP government with it right now.

U mean there are cases of people who contributed 社保 but never receive 退休金 due to province no money?
u tiagong from who？

Ur in law are from where? Xin Jiang/ TW/HK?

I been in China worked for so long and stationed in quite a number of province, never heard of people complaining no payment. Only know that every year must register face to prove you are still alive to continue receiving.
See alot of old people playing ping pong, mahjong, tennis at the garden.

Everyone knows that if the 退休金 not given, sure mega protest.

 

[SecretAgent]

U mean there are cases of people who contributed 社保 but never receive 退休金 due to province no money?
u tiagong from who？

Ur in law are from where? Xin Jiang/ TW/HK?

I been in China worked for so long and stationed in quite a number of province, never heard of people complaining no payment. Only know that every year must register face to prove you are still alive to continue receiving.
See alot of old people playing ping pong, mahjong, tennis at the garden.

Everyone knows that if the 退休金 not given, sure mega protest.

Yes..

It is my in-laws.

For you info... I am also stationed in China for dunno how many years.

You probably only see ping pong and mahjong.

There are actually already protest from alot of 老干部 about non-payment of pensions. You can go search about it.