CPF after 55
- Thread starter homedriver
- Start date
Once upon a time, they delivered Android phones all at 1 go at 55. But the market was flooded with Android phones and there were many other issues..
So the merchant decided henceforth, they will only deliver iPhones from 65 , one new set every year, for the benefit of customers and no, you cannot opt for Android anymore because it is bad for you and bad for the market.
CPL Life return. Seems like sweet spot is around 90 years old.
1st row - nos of years from withdrawal age
1st column - withdrawal age
1st row - nos of years from withdrawal age
1st column - withdrawal age
| Standard | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 30 |
65 | 2.41% | 2.67% | 2.88% | 3.04% | 3.17% | 3.28% | 3.36% | 3.42% | 3.47% | 3.51% | 3.53% | 3.56% |
66 | 2.80% | 3.04% | 3.22% | 3.37% | 3.48% | 3.57% | 3.64% | 3.69% | 3.73% | 3.75% | 3.77% | 3.76% |
67 | 3.18% | 3.39% | 3.56% | 3.69% | 3.78% | 3.86% | 3.91% | 3.95% | 3.98% | 3.99% | 4.00% | 3.95% |
68 | 3.55% | 3.74% | 3.89% | 4.00% | 4.08% | 4.14% | 4.18% | 4.20% | 4.22% | 4.22% | 4.22% | 4.14% |
69 | 3.95% | 4.12% | 4.24% | 4.33% | 4.40% | 4.44% | 4.47% | 4.48% | 4.48% | 4.48% | 4.47% | 4.34% |
70 | 4.35% | 4.49% | 4.59% | 4.66% | 4.71% | 4.74% | 4.75% | 4.75% | 4.74% | 4.73% | 4.70% | 4.54% |
wira
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another good example of why singapore has to implement nanny state policies to restrict cpf monies after age 55 in scenario where people withdraw sums at age 55 and spend until not enough for retirement.
reddevil0728
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Yes.
because of people like this, no choice a blanket policy has to be applied for greater societal good
not necessarily for greater societal good, rather, getting tax payers out of the hook
reddevil0728
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fair point.
greater good for tax payers who are actually the minority who has to carry the burden
wira
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which is why i shudder at the thought of politicians opposing the cpf policies and demanding 'CPF return our monies' and should these jokers run the country someday.
Vote wisely.
if that ever happens, Singapore is in serious decline.
When that happen it will be time for us to use back the winning argument "Not happy you RA CPF life supporters migrate lor" Have a taste of the medicine the other way round sounds sweet.
I await the day for that final showdown hopefully before I die. Battle mode on.
Btw I have been voting wisely every X years ever since I reach the voting age.
reddevil0728
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If that day really comes really makes logical sense to leave.
Better than people who uses illogical argument, not happy still stay.
Oppose for the sake of opposing.
I like heavy metal music. Always listen Final Countdown by Europe during election days it fuels my adrenalin to the max. We lose yes but slowly we take down their GRC one by one every X years. One by one ram them down and a new life and victory emerges for the ppl.
reddevil0728
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Pity
All the best in your future endeavours
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Blue and red pills are both lies
Those who can afford to migrate ARE the taxpayers. Currently the wise ones wanted longer MOPs so as not to sell off subsided flats so early. That I also vote for.
What I dis-vote for is foreigners to become citizen to buy properties GCB and penthouses escape from the tax ABSD and young SG aboriginals born after the 80s paying skyhigh for first BTOs, wtf. I find increments tank, salary scales poor they want graduate salesman nowadays, and CPF being linked to salaries become a calculative game for those with high salaries! Now you are using calculative tables to show how many percent earned at each draw down age, aren't you
This is what will happen if we give CPF to the people.
1) Some will make good use of it, earning more from the larger capital. Maybe even better than CPF.
2) Some will use it responsibly, saving and making it last. They may not beat CPF rate, but they can still live and get by.
3) Some will not know how to manage it at all. They will use it irresponsibly, and then make a lot of noise about how no one is taking care of them now that they are old.
Group 3 will stir up greater unrest and instability, and the govt will need to spend some money to ensure that they are not starving on the streets.
The number of people in Group 3 will also rise, as more people realise they can just spend their own money and then force the govt to take care of them.
Govt will be forced to spend increasingly more, and will have to get the money from somewhere, either taxing the working population, or perhaps even finding a way to tax Group 1 & 2.
Basically, people who want to return CPF money to the people are either:
Group 3 who want to abuse the system and live off other people.
Group 1 who reckon they can make good money and then leave the country.
Basically, people who don't give a **** about others so long as they are assured that they themselves will be fine.
1) Some will make good use of it, earning more from the larger capital. Maybe even better than CPF.
2) Some will use it responsibly, saving and making it last. They may not beat CPF rate, but they can still live and get by.
3) Some will not know how to manage it at all. They will use it irresponsibly, and then make a lot of noise about how no one is taking care of them now that they are old.
Group 3 will stir up greater unrest and instability, and the govt will need to spend some money to ensure that they are not starving on the streets.
The number of people in Group 3 will also rise, as more people realise they can just spend their own money and then force the govt to take care of them.
Govt will be forced to spend increasingly more, and will have to get the money from somewhere, either taxing the working population, or perhaps even finding a way to tax Group 1 & 2.
Basically, people who want to return CPF money to the people are either:
Group 3 who want to abuse the system and live off other people.
Group 1 who reckon they can make good money and then leave the country.
Basically, people who don't give a **** about others so long as they are assured that they themselves will be fine.
andyhtc
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I intend to keep the principal sum of OA and SA in my CPF to earn recurring interest to fund my retirement, particularly from 60 to 65 years old. Between the age of 60 and 65 years old, am I allowed to draw out only the interest rates on both of my OA and SA?
Not before your dream comes true which is unlikely in the first place.
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