2500 increase per year on basic retirement sum

[OngHuatHuat]

2500 increase per year until 2020.
What is your view on this?

https://www.cpf.gov.sg/Members//Faq/schemes/retirement/retirement-sum-scheme#faq17402

 

[mummy1234]

2500 increase per year until 2020.
What is your view on this?

Wow, so does it mean minumum sum increases by $5000 each year? Where did you get your source from?

 

[star2008]

2500 increase per year until 2020.
What is your view on this?

They have already mentioned many months back that increased is fixed at 3% per year till 2020.

 

[OngHuatHuat]

https://www.cpf.gov.sg/Members//Faq/schemes/retirement/retirement-sum-scheme#faq17402

Wow, so does it mean minumum sum increases by $5000 each year? Where did you get your source from?

 

[anfielder]

2500 increase per year until 2020.
What is your view on this?

~3% increase per year, as it should be.

 

[SBC]

Where is the sauce?

Amount sounds quite right though.

Meaning FRS will rise $5000 & ERS will rise $7500?

 

[zuoom]

Nothing out of the ordinary.

 

[havetheveryfun]

2500 increase per year until 2020.
What is your view on this?

https://www.cpf.gov.sg/Members//Faq/schemes/retirement/retirement-sum-scheme#faq17402

view is never trust what the pappies say

 

[OngHuatHuat]

2040 I think the minimum sum should be Around 286 k.

This is the year I turn 55 years old.

If I opt for basic retirement sum, this amount will be around 143 k when I turn 55 years old.

Wow, so does it mean minumum sum increases by $5000 each year? Where did you get your source from?

 

[peacefulday]

how about the full and enhance retirement plan increment rate%?

 

[henrylbh]

Increase has been spelt out earlier "to help you better plan your retirement". The increase is fixed at $5,000 per year from 2016 to 2020. In term of percentage, it is not so drastic as the increase of $5,000 every year from 1995 to 2003.

 

[OngHuatHuat]

Is there any thread here on discussion of pledging of property?

Increase has been spelt out earlier "to help you better plan your retirement". The increase is fixed at $5,000 per year from 2016 to 2020. In term of percentage, it is not so drastic as the increase of $5,000 every year from 1995 to 2003.

 

[starfish.starfish]

You are assuming CPF will not change rules of game by 2040. Based on past records, that's not true. No point monitoring this right now, by 2040 might be totally different scheme again.

2040 I think the minimum sum should be Around 286 k.

This is the year I turn 55 years old.

If I opt for basic retirement sum, this amount will be around 143 k when I turn 55 years old.

 

[OngHuatHuat]

Yeah. I think the minimum sum should be lesser than what I have expected. Sg inflation rate is negative now.

http://www.tradingeconomics.com/singapore/inflation-cpi

You are assuming CPF will not change rules of game by 2040. Based on past records, that's not true. No point monitoring this right now, by 2040 might be totally different scheme again.

 

[edwinttt1978]

2500 increase per year until 2020.
What is your view on this?

https://www.cpf.gov.sg/Members//Faq/schemes/retirement/retirement-sum-scheme#faq17402

My view is don't worry, be happy.

 

[hwmook]

My view is don't worry, be happy.

3% yearly increase is still manageable. The last decade of increase is not.

 

[satayxp]

My view is don't worry, be happy.

your ignorance is their bliss ~

 

[henrylbh]

3% yearly increase is still manageable. The last decade of increase is not.

Increase in min sum in the past in amount and percentage -

1995 – 4.6k to 40k – 13.99%
1996 – 5k to 45k – 12.05%
1997 – 5k to 50k – 11.11%
1998 – 5k to 55k – 10.00%
1999 – 5k to 60k – 9.09%
2000 – 5k to 65k – 8.33%
2001 – 5k to 70k – 7.69%
2002 – 5k to 75k – 7.14%
2003 – 5k to 80k – 6.67

In term of amount, 2009 was the largest at 11k to 117k – 10.38%.

In term of percentage, 2015 was the lowest at 6k to 161k – 3.87%

Future increase will be relatively lower –
2016 – 5k to 166k – 3.11%
2017 – 5k to 171k – 3.01%
2018 – 5k to 181k – 2.92%
2019 – 5k to 186k – 2.84%
2020 – 5k to 191k – 2.76%

May be because of ah Roy, the increase is more sane as I was expecting no less than 4% annual increase relentlessly based on what was done since 1995.

 

[sandwicher]

Some say last decade not reasonable.

Some say $1.2k per month where got enough to survive.

Some just want more payout per month yet don't want to have more kept at CPF.

Some think $2.5k is greedy, while other rather to keep up with inflation and let the 4% SA out beat the inflation rate.

 

[henrylbh]

Some say last decade not reasonable.

Some say $1.2k per month where got enough to survive.

Some just want more payout per month yet don't want to have more kept at CPF.

Some think $2.5k is greedy, while other rather to keep up with inflation and let the 4% SA out beat the inflation rate.

I am sure ALL want to have a choice take out all at 55 or leave what they want in CPF.