Business Times SPECIAL: Government considering CPF Retirement Investment Scheme design

[alpha_beta]

they removed the old pension scheme n replaced it with a gratuity scheme for ownself n certain services

in simpur england they kicked every buttie else out except ownself

 

[sarduakar2000]

Raise contribution rates for seniors? Will also raise employer's contribution or not.
..

Eh did they reduce CPF rates for old folks ?

I doubt so that they will raise the contribution rate for employers.

 

[inmyopinion]

>>> One major challenge is that people are living longer, raising concerns about insufficient retirement funds. Singapore tackles this on two fronts, said PM Wong. First, Singaporeans must be prepared to work for longer. Second, retirement savings must be made to last throughout one’s lifetime, no matter how long this is <<<

>>> As Singaporeans live “much longer lives compared to any other period before”, mindsets must shift with the times, said Dr Tan See Leng. “If you look at the broad overview of what we are doing in the Forward Singapore construct, our assurance to every one of our Singaporeans is that as long as you work and contribute consistently to CPF, we will do our best to ensure that your finances in retirement will be adequate,” he said. <<<

https://www.businesstimes.com.sg/si...ible-cpf-retirement-investment-scheme-pm-wong

This ballon first floated since 2016 and have been discussed once in a blue moon.

Haven't found the right formula and which is why LW mentioned 'careful considerations'.


https://www.straitstimes.com/singap...-new-lower-cost-investment-option-for-members

 

[tshace]

err.. is our national investment organisation aka Temasek/GIC lacking funds becos of losing or not earning $$$ in the past few years and now need more fresh fund to be pumped in by CPF retirees using their CPF money? so we are able to invest in what type of fund? only fund by Temasek/GIC? or private ones?

Not lacking funds ...
But lacking accountability!!!

 

[LPPLKPKB]

Stopped reading at low risk high return.

Impossible tasks in Finance, only one type of investor can promise you that.

 

[LPPLKPKB]

Maybe shld allow us to invest in Norwegian fund instead

Ouch! That hurts.

 

[CanIsayNo]

"First, Singaporeans must be prepared to work for longer."

ahhaha no chance for retiring, peasants. keep working till u freaking die! lol

remember, they own you!

 

[Cmonster]

"First, Singaporeans must be prepared to work for longer."

ahhaha no chance for retiring, peasants. keep working till u freaking die! lol

remember, they own you!

If you are living longer due to better diet and medical care

what else do you suggest besides working longer?

 

[Laguna123]

He damn contradicting, on one hand wants ppl to work longer, the other say about retirement?

 

[RAKSL38]

Always thinking of more ways to move the goalpost further.

Nobody wants to work until old & ill.

 

[leonaheidern]

Best solution is to transfer all cpf savings to govt reserves, next time Govt will pay out at retirement age. No more cash out allowed for properties

we may turn into Bangladesh who knows

even USA is looking kinda fishy now.


Read HWZ Forum Rules!

 

[leonaheidern]

If you don't opt in, the current 4% could drop to e.g. 3%. The law on CPF floor can changed.

actually I don't mind drop to 3%

allow me to use the money to fund voluntary euthanasia can liao without all the Advanced Care Directive/ Advanced Care Plan without all the witness and psychiatric assessment tests

what ever balance can nominate go to my family members can liao.

I am glad I am bbfa and single only need to care about the generation above me


Read HWZ Forum Rules!

 

[Matthew K L O]

Get real PAP. They know the problem with CPF is it would not be enough to retire on. As was explained in a tv forum. On CPF by CNA...experts agreed that our current cpf will not provide enough for a comfortable retirement plan because for the last 20 to 30 years the govt had been surprising wage increases such that the amount of cpf contributions did not keep pace with the cost of living and inflation.

PAP knows this but refused to address the elephant in the room and keep using the NWC to keep our wages low to ensure our cost of labor is competitive across this region.

The unions are also guilty of allowing this suppression of wages to continue.

It is evident that the PAP's plans for CPF is to continue to bleed off it for cheap infrastructure funding at our expense and will try to keep our money in our CPF account for as long as they can! If possible you will never see your CPF money; your NOK may see it when you kick the bucket!

 

[tshace]

 

[alpha_beta]

lol notch oni infra butch dier highest payed celeries as well

nirc funds 50% of budget

 

[mospeado]

smlj ! covid reduce life expectancy, look at big S .. Real life example

 

[Purplestars]

Just let citizens buy the S&P500 at a low cost with CPF lah.

Talk so much just do, can they offer a S&P500 fund cheaper than Vanguard or Blackrock?

 

[inmyopinion]

Those who anyhow hoot properties & cars will have to work very very long and cannot retire.

​

Forum: Offer more support to those who were retrenched​

https://www.straitstimes.com/opinion/forum/forum-supporting-those-who-were-retrenched


As a Singaporean who is turning 44 this year, I can relate well to the stories of those featured in the article “Job jitters: Why do some worry about jobs when the S’pore labour market is strong?” (Feb 8).

 

[Visor9999]

Just let citizens buy the S&P500 at a low cost with CPF lah.

Talk so much just do, can they offer a S&P500 fund cheaper than Vanguard or Blackrock?

Why will they do this. Sg Govt can take cpf funds and invest themselves in s&p and take the difference for themselves

 

[EdenHazard]

lawrence wong must allow sinkies to invest cpf in bitcoin