really so bad now? sigh.
i A levels only. worked for 18 years for Posb/dbs/ibm (same job, just got merged and outsourced) from 1995 to 2013, also can meet BRS.
this is not clearly stated anywhere. Will need to dig.
There is a section on match dollar-for-dollar up to $600 annual and about 435,000 age 55 to 70 unable to meet BRS.
still gotta dig the population count for 55-70. Aiya, 435,000 is still a huge number of aunties/uncles/ah gong and ah mas. But probably a lot are ladies, as in the past, one income is sufficient to feed the family. :|
good mah. uplorry liao no worry money not enough.
CPF was ok when we could take it all out at 55 and there was no cap on the applicable income.If CPF is great, ppl would be rushing to the CPF building to deposit all their money there. Apparently, it's not!
And any property (HDB) price increase, most ppl can only sell back to govt - through buybacks like stocks. And that is extremely risky - concentration risk of buyer.
That one is really probably due to single income family in the past.thanks for sharing. this is really bad leh.
but how come? because even my mom n dad whom both worked low end jobs (data entry and factory worker) also can buy hdb flat (fully paid) and meet BRS. Can even send me to local NTU. (but i dropped out )
They are both in their 70.
Cpf is a done deal. As with most things already fixed kpkb no use. Just try to make the best of the given situation.geez safest yes. But for what?? Your money is stuck and for most people they will leave some their cpf money to their next of kin when they die. Or the state if nobody claims for it.
If cpf is so good it won’t be mandatory. If people can get their employers contribution as part of their take home pay, nobody would’ve participated in cpf. Well ok maybe there are people like you out there
42% tax u mad bro?CPF was ok when we could take it all out at 55 and there was no cap on the applicable income.
Now I just think of it as a tax. If without the funds in cpf, the Govt will find other ways to increase revenue.
But pap ib all hail this as the greatest inventionThey calculate what compound rate simi sai. You put money in can't take out whole lump sum even you reach 65. I think this is stupid. Investment is to make you rich and improve your quality of life now. There is 0 liquidity in putting money into cpf