CPF Life sucks

[sunzoner]

Insurance company is just like bank.
At sunny day, they lend you a umbrella.
When raining, they took it away !

And CPF life is any different?

no wait... it is different...

in Sunny day, it takes money away from you, in raining day, I dunnoe if they give you anything back...

 

[tiny]

The monthly payout how come it is not being pegged to inflation?

 

[gerbers76]

cpf no hope jus use it to buy big hdb and invest it.
i dun think i can take back any when i retire!
faint when think of it! all my hard earn money in gov hands.

 

[cscs3]

post the projected returns in the brochure
and the returns being paid out leh

You already say it is projected !

 

[cscs3]

If the govt present no choice to you, then vote for another party loh.

In USA, they do the same.

How do you know another party will not do the same or something worse?

Just like the co-pilot theory ?

 

[hwmook]

How do you know another party will not do the same or something worse?

Just like the co-pilot theory ?

Just like a person complaining that he is getting fatter everyday and doing nothing to improve it.

Just a frog getting slowly cooked in a pot of hot water, his reason for not jumping out is the next pot might be even hotter.

Keep it simple stupid. The best principle is simplicity, if you think so much you won't ever get down to doing it, vote for change, make them learn a lesson.

 

[sunzoner]

How do you know another party will not do the same or something worse?

Just like the co-pilot theory ?

Then vote in another party loh. Else how? Keep doing the same thing (vote for incumbent) and hope it will change for the better?

 

[AceyourMaths]

CPF life good or the older scheme good?

 

[sanzhu]

u r du7mb


u actually belive u going be paig


pioneer generation has sucked billions from the budget


guess wad


u take the future generations slavery to pay for you

 

[sanzhu]

Hopefully it last !

https://www.youtube.com/watch?v=KR3MgIPxb38

 

[orwell76]

CPF life good or the older scheme good?

Actually now that Lim Boon Heng propose to set retirement age at 70, the minimum sum scheme which give higher payouts over 20 years can cover most singaporeans until 90

 

[simon_84]

cpf no hope jus use it to buy big hdb and invest it.
i dun think i can take back any when i retire!
faint when think of it! all my hard earn money in gov hands.

if you don't go for the singaporean dream of owing a hdb, you would have more than enough to meet the minimum sum.

cpf life ensures that you have a monthly payout that is suppose to last 20 years after official retirement age.
unless you're damn good in generating passive income per month then this scheme probably is useless to you.

 

[orwell76]

if you don't go for the singaporean dream of owing a hdb, you would have more than enough to meet the minimum sum.

cpf life ensures that you have a monthly payout that is suppose to last 20 years after official retirement age.
unless you're damn good in generating passive income per month then this scheme probably is useless to you.

I calculated minimum sum is at $530k when I am 67, can CPF Life honor payouts of $4100 a month?

 

[simon_84]

The monthly payout how come it is not being pegged to inflation?

correct, minimum sum scheme pegged to inflation but cpf life doesn't...
anyway best is to take up the standard plan with higher payout.

 

[simon_84]

I calculated minimum sum is at $530k when I am 67, can CPF Life honor payouts of $4100 a month?

my dad only got 1k plus only, you ever heard anyone paid that high before ?
even if cpf life cannot afford to pay out so much, well at least there is some money for your descendents ?

 

[orwell76]

my dad only got 1k plus only, you ever heard anyone paid that high before ?
even if cpf life cannot afford to pay out so much, well at least there is some money for your descendents ?

so it's CPF AfterLife fund?

 

[simon_84]

so it's CPF AfterLife fund?

this one you would have to ask the high net worth individuals, provided that they are willing to disclose

 

[orwell76]

this one you would have to ask the high net worth individuals, provided that they are willing to disclose

I not high nett worth but got lots of cpf can kpkb or not

 

[simon_84]

I not high nett worth but got lots of cpf can kpkb or not

gross income how much ?
can SIC a not ?

how come SA more than OA ?
you got used OA for property ?

 

[sunzoner]

my dad only got 1k plus only, you ever heard anyone paid that high before ?
even if cpf life cannot afford to pay out so much, well at least there is some money for your descendents ?

What is the purpose of CPF? To save for my retirement? or to pass money to my descendents after I left?

The policy must match the objective. Since CPF's declared objective is for me to save the money for my retirement, I would say it failed shall I be unable to access the money when I want to retire.

Why would CPF life be unable to pay out? Wasnt the money transferred to government through a bond? Hence, safe? The government would just need to check its committed payout obligation. Then, it sells the "investment" to fund the payout.