CPF Accounts Value thread

[JuniorLion]

i do not mind if bbc likes to do community service.

but if he tells everyone to go escalating, and he secretly goes basic....

You need people to take standard and/or escalating to make the system more self-sustaining.

 

[henrylbh]

You need people to take standard and/or escalating to make the system more self-sustaining.

How would that make the system more self-sustaining if most go for standard/escalating plan?

 

[JuniorLion]

How would that make the system more self-sustaining if most go for standard/escalating plan?

Your thoughts?

 

[henrylbh]

Your thoughts?

Whichever plan, theoretically one half of each plan should lose to the other half. Payouts would be adjusted to work that way unless we assume anomaly in estimates is not recalculated.

 

[angtc11]

Whichever plan, theoretically one half of each plan should lose to the other half. Payouts would be adjusted to work that way unless we assume anomaly in estimates is not recalculated.

This is true only if there isn't a middle man who is incentivized to accumulate surplus for safety buffer

 

[dork32]

How would that make the system more self-sustaining if most go for standard/escalating plan?

this is statistics.
the authorities probably have some numbers. calculations were made to these numbers.

authorities does not have power on how we make decisions. hence a deviation from the calculated numbers occurs. this deviation becomes smaller when more people sign onto it.

eg average death age is 85
4 person signs up for escalating and 3 lives up to 98. then the system xiao liao.
but if the 40000 people signs up of escalating, chances are less than 30000 people will live up to 98. chances are you get more people dying at around 85.

 

[dork32]

Whichever plan, theoretically one half of each plan should lose to the other half. Payouts would be adjusted to work that way unless we assume anomaly in estimates is not recalculated.

they do it the singapore pools way. both lose, singapore pools win.

 

[Mecisteus]

This is true only if there isn't a middle man who is incentivized to accumulate surplus for safety buffer

Yeah I'm sure the payouts will be adjusted in such a way that the whole population will lose so that the Lifelong Income Fund will have some surplus instead of deficit.

The government actuaries will try to enticipate a higher mortality rate to be on the conservative side.

 

[Toni90]

they do it the singapore pools way. both lose, singapore pools win.

U means cpf life works like Singapore pool? Either u stupid or liar.

 

[maple96]

insurance plays with your fear and greed.

If u want to lose less, choose Basic. If u want to win and make more, choose Escalating, provided u can live pass 85-95! Goodluck!

 

[Toni90]

this is statistics.
the authorities probably have some numbers. calculations were made to these numbers.

authorities does not have power on how we make decisions. hence a deviation from the calculated numbers occurs. this deviation becomes smaller when more people sign onto it.

eg average death age is 85
4 person signs up for escalating and 3 lives up to 98. then the system xiao liao.
but if the 40000 people signs up of escalating, chances are less than 30000 people will live up to 98. chances are you get more people dying at around 85.

The system ok as they still got money from basic. Just cut the pay from those on basic who live longer loh.

 

[Mecisteus]

Has anyone calculated before? The total payouts across age assuming can meet FRS before 55,

1) FRS and Basic
2) Shield SA, BRS, property pledged, return back all monies into OA and SA

 

[Toni90]

insurance plays with your fear and greed.

If u want to lose less, choose Basic. If u want to win and make more, choose Escalating, provided u can live pass 85-95! Goodluck!

How about your parents, grand-parents? What ages when they gone?

 

[maple96]

Has anyone calculated before? The total payouts across age assuming can meet FRS before 55,

1) FRS and Basic
2) Shield SA, BRS, property pledged, return back all monies into OA and SA

Use the CPF Life calculator, it gives u total payout and u can compare across 3 plans, at which age which plan wins and by how much

 

[maple96]

How about your parents, grand-parents? What ages when they gone?

I know but not so important in making my decision. One young guy age 28 just died due to accident while serving the nation.

 

[Toni90]

I know but not so important in making my decision. One young guy age 28 just died due to accident while serving the nation.

U mean they live until very old but u don’t think u can live that long?

 

[dork32]

How about your parents, grand-parents? What ages when they gone?

father 70
father father 60
father mother 35

mother 69 and still kicking
mother mother 89 and still kicking
mother father 50

with numbers that goes this way, i see no reason to use them.

 

[Toni90]

father 70
father father 60
father mother 35

mother 69 and still kicking
mother mother 89 and still kicking
mother father 50

with numbers that goes this way, i see no reason to use them.

With this kind of number I think better to choose Basic. Gov understands your concern.

 

[havetheveryfun]

U mean they live until very old but u don’t think u can live that long?

is that the chance of you dying earlier is much higher than you living that long

also, that even if you do live that long and get to reap the benefits, what is the point. by then you also frail and weak and won't be able to do much with the money anymore, even if you get more money.

 

[dork32]

With this kind of number I think better to choose Basic. Gov understands your concern.

there is no trend in my numbers.

yes, i will chose basic. not becoz i feel i will die very young. but because i not happy to give people my money.

i am also the type that i do not like to take other people money.