CPF Accounts Value thread

[Toni90]

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.

Maybe u don’t know but there are people who are poor and need CPF money for basic need.

 

[Toni90]

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.

I think the number is really bad for the male side.

 

[Dividends Warrior]

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.

Why dun choose the Standard Plan?

 

[Mecisteus]

Why dun choose the Standard Plan?

Welcome.

I guess you have not been following the discussion.

 

[henrylbh]

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.

What talking you? My aunt born Mar 1921 still need more money though she is frail and weak. Now her son is worried that she might survive him and leaving her will no financial help

 

[The_Davis]

Why dun choose the Standard Plan?

becos basic give most bequeath amount if ko b4 85

 

[henrylbh]

Wah, this kind is like 1 in a Million?
How many Singaporeans are over 99 years old now in Singapore?

In 2015, there werre 1,100 above 100yo.

My aunty has another 2 living sis following her, each younger than the other by 1 year The 4th sis passed away closed to 90. 5th sis is now 80. But 2 bros passed off at 90 and another 2 living bro at 85 and 83. The eldest of them all including the father were finished off by the Jap

 

[havetheveryfun]

What talking you? My aunt born Mar 1921 still need more money though she is frail and weak. Now her son is worried that she might survive him and leaving her will no financial help

She is probably not on CPF life so can't compare. As even if not on escalating, at least will be still on basic plan.

If you need more money at that age due to living expenses , the extras from escalating won't help much anyway.

 

[henrylbh]

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.

She is probably not on CPF life so can't compare. As even if not on escalating, at least will be still on basic plan.

If you need more money at that age due to living expenses , the extras from escalating won't help much anyway.

It's not which plan she is on.

You mentioned "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" and I am merely pointing that regardless of how old and frail a person is, money is still needed and may be much more.

 

[havetheveryfun]

It's not which plan she is on.

You mentioned "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" and I am merely pointing that regardless of how old and frail a person is, money is still needed and may be much more.

It is. your aunt needs more money because she is most likely not on any annuity plan.

as i was speaking in context to if you get more money due to the escalating plan. the extra money you get won't be able to help you much anyway to do anything extra. if speaking in terms of living expenses and medical bills, if basic or standard can't cover, then escalating probably won't be able to either.

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.

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

Basic plan is more than enough for basic living expenses. Believe in the government that they have already calculated out these anomalies and will offer some form of support to them.

 

[henrylbh]

The point is more money even if not enough for whatever needs is surely better than less, no matter how frail and weak one is.

 

[maple96]

What's the moral of the story/stories?

Never just depend on CPF Life alone for your retirement or longevity insurance (whatever u call it). Choosing Escalating Plan alone might not solve your problem of longevity.

Have other sources of funds/income. This makes your choice of CPF Life more flexible, eg u can choose Basic with no or less fear, u start payout at 65 with no or less fear, u can "reinvest" your CPF Life payouts with good guaranteed returns with no fear to give u another source of funds/income!

U still have ISP if u can afford for your hospitalisation expenses. Your still have medisave for your old age medical needs. No, that is not a bequest vehicle!

Continue to build OA/SA/MA/RA to earn guaranteed returns, another source of funds/income.

What else u can think of?

Dun just talk CPF Life and ignore the rest!

(I still got my WL with guaranteed returns as source of funds/income, U should have your equities/bonds/dividends which u have been investing?)

 

[dork32]

Why dun choose the Standard Plan?

evino partially answered the question for me.

the other reason is basic is a fair plan to all

this is basic, i spend my own money. whatever i cannot finish spending, i give to kids. it is only when i refused to die at a very old age that i have to depend on others.

this is escalating. i contribute to the lifelong fund and i draw from it. if i die young (80) kids get nothing. when i refused to die, i get a lot more than basic.
why should i give my money to others instead of my kids if i die you. why should others feed me because i dont want to die.

 

[dork32]

What's the moral of the story/stories?

Never just depend on CPF Life alone for your retirement or longevity insurance (whatever u call it). Choosing Escalating Plan alone might not solve your problem of longevity.

Have other sources of funds/income. This makes your choice of CPF Life more flexible, eg u can choose Basic with no or less fear, u start payout at 65 with no or less fear, u can "reinvest" your CPF Life payouts with good guaranteed returns with no fear to give u another source of funds/income!

you are so right again. and because you and me hav other income, we will not become paupers should there be no cpflife.

this is the other reason why i view cpf as a form of investment where xirr should be calculated.

 

[BBCWatcher]

In 2015, there werre 1,100 above 100yo.

This number is growing rapidly. It was ~1,200 as of June, 2017. About 30% of them (~360) are men, by the way. On average, women are living longer than men, but the skew is not as much as you might think.

There’s some uncertainty in who was (to date) the oldest Singaporean ever. Age 114 or possibly 115 looks like the current record. Birth dates are sometimes hard to confirm, although 114 looks pretty solid. For Singaporean men the record is 110 (Anthony Cher). Worldwide the modern record is 122 (confirmed). All these figures are based on lived (past tense) experiences with then current medical technologies.

 

[shin89]

Anyone can advise if the below holds true? Should it include bonus?

Maximum amount of VC = $37,740 – MC

 

[JuniorLion]

Anyone can advise if the below holds true? Should it include bonus?

Maximum amount of VC = $37,740 – MC

Yes. Includes bonus.

 

[JuniorLion]

This number is growing rapidly. It was ~1,200 as of June, 2017. About 30% of them (~360) are men, by the way. On average, women are living longer than men, but the skew is not as much as you might think.

There’s some uncertainty in who was (to date) the oldest Singaporean ever. Age 114 or possibly 115 looks like the current record. Birth dates are sometimes hard to confirm, although 114 looks pretty solid. For Singaporean men the record is 110 (Anthony Cher). Worldwide the modern record is 122 (confirmed). All these figures are based on lived (past tense) experiences with then current medical technologies.

The probability that you are THE ONE to live till 120 is infinitesimally small. But if you believe you are, all the best.

 

[JuniorLion]

What's the moral of the story/stories?

Never just depend on CPF Life alone for your retirement or longevity insurance (whatever u call it). Choosing Escalating Plan alone might not solve your problem of longevity.

Have other sources of funds/income. This makes your choice of CPF Life more flexible, eg u can choose Basic with no or less fear, u start payout at 65 with no or less fear, u can "reinvest" your CPF Life payouts with good guaranteed returns with no fear to give u another source of funds/income!

U still have ISP if u can afford for your hospitalisation expenses. Your still have medisave for your old age medical needs. No, that is not a bequest vehicle!

Continue to build OA/SA/MA/RA to earn guaranteed returns, another source of funds/income.

What else u can think of?

Dun just talk CPF Life and ignore the rest!

(I still got my WL with guaranteed returns as source of funds/income, U should have your equities/bonds/dividends which u have been investing?)

If one is in his/her 30s, can invest reasonably to get good returns. That's sustainable.

 

[Toni90]

What's the moral of the story/stories?

Never just depend on CPF Life alone for your retirement or longevity insurance (whatever u call it). Choosing Escalating Plan alone might not solve your problem of longevity.

Have other sources of funds/income. This makes your choice of CPF Life more flexible, eg u can choose Basic with no or less fear, u start payout at 65 with no or less fear, u can "reinvest" your CPF Life payouts with good guaranteed returns with no fear to give u another source of funds/income!

U still have ISP if u can afford for your hospitalisation expenses. Your still have medisave for your old age medical needs. No, that is not a bequest vehicle!

Continue to build OA/SA/MA/RA to earn guaranteed returns, another source of funds/income.

What else u can think of?

Dun just talk CPF Life and ignore the rest!

(I still got my WL with guaranteed returns as source of funds/income, U should have your equities/bonds/dividends which u have been investing?)

I bought WL? How much u paid? How much the guaranteed return?