CPF Easy Info Thread. :)

[dork32]

the thing abt insurance is that there is a lot of uncertainty. premiums will be significantly higher than payout. the insurance issuer will want to err on the side of safety.

this was described in the parliament discussion on the medishield premium vs payout.

cpf life will have the same problem, to err on the safe side, the pool will have to be much larger than needed. who is going to make the pool large enuf.

 

[dork32]

If things don't change by then....

i dont deny that.

 

[henrylbh]

i am not very obsessed about bequest too.

what i have stated is a fair system. i dont have to depend on others with this system. it will ensure a payout for life.

if you finish your ra at 90 and you live till 105, who is going to feed you for the last 15 years

I already have more than 10x BRS in CPF though not all earning 4%. If I live on above whatever FRS plan I don't how long it will last

 

[highsulphur]

I already have more than 10x BRS in CPF though not all earning 4%. If I live on above whatever FRS plan I don't how long it will last

Wah.. Poster boy for cpf like SKenny

 

[lifeafter41]

Wah.. Poster boy for cpf like SKenny

Over here on Money mind, many many hidden dragon and crouching tigers.

But then, it’s most likely the exception rather then the norm.
To hit FRS (2times of BRS) is tough for many.

 

[henrylbh]

In 2017, only 4 of 10 able to meet BRS at 55.

 

[maple96]

whether cpf is designed for bequest or not is not important. i will try to skew it towards my purpose

That's the way, I like! Singaporean style/way, down to earth!

 

[maple96]

In 2017, only 4 of 10 able to meet BRS at 55.

It that is true, I know liao why they created the "loophole", is a conflict of interest, to benefit themselves, they are the ones who know the loophole first to benefit from it!

Will they remove it? I doubt cos they want to benefit from it too if they are still sailing

 

[dork32]

I already have more than 10x BRS in CPF though not all earning 4%. If I live on above whatever FRS plan I don't how long it will last

it does not matter how much you have, you should not be planning to use up everything by the time you hit 90/

 

[dork32]

Wah.. Poster boy for cpf like SKenny

uncle kenny is ultimate. i cannot even come close to him

 

[lifeafter41]

In 2017, only 4 of 10 able to meet BRS at 55.

What would it be for FRS?

 

[henrylbh]

What would it be for FRS?

What I mentioned earlier was from another source. May be fake news

According to CPF annual report -

In 2017, 40,250 active CPF members turned 55 years old 57.4% of these members were either able to set aside their FRS fully in cash or set aside at least their BRS in cash and owned at least one local residential property. This is higher than the 55.3% seen in 2016.

 

[henrylbh]

In 2018, 40,394 active CPF members turned 55, of which 59.2% were able to set aside their FRS fully in cash, or set aside at least their BRS in cash and owned at least one local residential property. This is higher than the 57.4%
seen in 2017.

 

[BBCWatcher]

I wonder whether those percentages also exclude the CPF members using the CPF Investment Scheme who aren't getting their Retirement Accounts funded to the FRS (or to the BRS with property pledge/charge) at age 55 but who have CPFIS valuations that would otherwise be sufficient to fund to the FRS/BRS.

 

[maple96]

In 2018, 40,394 active CPF members turned 55, of which 59.2% were able to set aside their FRS fully in cash, or set aside at least their BRS in cash and owned at least one local residential property. This is higher than the 57.4%
seen in 2017.

I wonder whether those percentages also exclude the CPF members using the CPF Investment Scheme who aren't getting their Retirement Accounts funded to the FRS (or to the BRS with property pledge/charge) at age 55 but who have CPFIS valuations that would otherwise be sufficient to fund to the FRS/BRS.

If u understand CPFB written policies on how RA is created, the answer is obvious

 

[lifeafter41]

In 2018, 40,394 active CPF members turned 55, of which 59.2% were able to set aside their FRS fully in cash, or set aside at least their BRS in cash and owned at least one local residential property. This is higher than the 57.4%
seen in 2017.

Looking at the trend, seems to be getting better each year.
Even though the FRS sum is increasing.

That’s a good indication more are better prepared with retirement or at least meet the basic need.

 

[maple96]

Fake news law come into effect Oct 2, so dun spread fake news in this thread from tomorrow

 

[AvatarViper]

Government Extends Minimum 4% Interest Rate Floor on Special, MediSave and Retirement Account Monies until 31 December 2020

https://www.cpf.gov.sg/members/News/news-categories-info/news-releases/2378

is it possible for cpf not extend min interest?

 

[ocs_woodlands]

is it possible for cpf not extend min interest?

By law, this is the lowest interest rate payable. pegged at 1.5% above OA which is at the lowest rate mandated by law

 

[iceblendedchoc]

Will this work?

Opt for BRS with property pledge
Withdraw the balance of the amount that one can
Throw the money back into SA account
Draw down the account as and when needed at retirement