[OFFICIAL] Lawrence Wong 黄循财 Fan Club

[lordofshanghai]

some is..
people want to work, company want to hire or not?

 

[junlove]

and the irony is. ppl who met FRS/ERS or above are better off, likely in better blue collar jobs, which maybe as some said, good for the mind (body depends). Those who have issues with meeting BRS even, are those who even if work till 70s, are doing menial work, simi keep mind going?

Play chess, mahjong, do art, crafts, sports, hang out with grandchildren, learn new things, cannot keep mind going? You go ask Chatgpt, can list you Tons of hobbies...

the reality could be, most singaporeans spend most of their time working and have no time to even pick up hobbies... old liao then kpkb nothing to do... because they know nuts what to do...

 

[Mecisteus]

the statistics of ppl meeting FRS is... throw a coin.

choice is only for the upper tiers.

% of population reaching FRS is likely to go up as population is more educated compared to current cohorts.

 

[Mecisteus]

and the irony is. ppl who met FRS/ERS or above are better off, likely in better blue collar jobs, which maybe as some said, good for the mind (body depends). Those who have issues with meeting BRS even, are those who even if work till 70s, are doing menial work, simi keep mind going?

Play chess, mahjong, do art, crafts, sports, hang out with grandchildren, learn new things, cannot keep mind going? You go ask Chatgpt, can list you Tons of hobbies...

the reality could be, most singaporeans spend most of their time working and have no time to even pick up hobbies... old liao then kpkb nothing to do... because they know nuts what to do...

Basically its fine to retire if you have some productive things to do.

Otherwise, why not do some part time jobs and collect some income ?

i hope you are joking

Frankly I think its a valid concern.

 

[1 Ghz]

Sitting at home staring at the 4 walls or watching TV all day may give you dementia...

But there are lots of things you can do after retiring ...
-learn piano
-take free courses eg MIT Opencourseware
-learn IT stuff like PC HW, NAS, networking
-Learn about new companies/industries for your next investment
-Travel
-etc

As long as you are continuously learning (aka upgrading), you'll be fine.

 

[junlove]

% of population reaching FRS is likely to go up as population is more educated compared to current cohorts.

education levels have been increasing by bounds over the decades, cannot use that to compare (the increase in graduates vs pay increment over the years, what is the correlation ratio?), and as with all other countries, there is a diminishing returns (you think the percentage rise in graduates will be linear?)

a simplistic way to calculate is just take median income increase vs FRS increment. you think the % going to change a lot soon?

 

[Dopod007]

Really Good Luck to sinkies.
Your Govt really pawned you guys deep deep.

Quite likely the mandate of cpf withdrawal be moved from 65 to 70 soon. So you all need to stay healthy until 70 and beyond to receive your hard earned money...

 

[junlove]

No I'm not. It's already happening. Plus if don't work, sit at home can get dementia. Medical cost burdens the children too.

So I am in favor of it. But don't knn use it as an excuse to delay cpf payout beyond 65.

IMO, i believe in good sources of data/figures/stats, than opinions.

mortality age has increased from 70+ yo to 80+ yo, from my laopeh's time to mine. But dementia rate and age leh?

u can read up the medical papers, if they are true, then we're not better off than my dad's times. their batch might be more dementia 'free' during their retirement years, we are at higher risk, and we work 10 year longer than them . the price to pay for longer lives eh?

 

[Mecisteus]

education levels have been increasing by bounds over the decades, cannot use that to compare (the increase in graduates vs pay increment over the years, what is the correlation ratio?), and as with all other countries, there is a diminishing returns (you think the percentage rise in graduates will be linear?)

a simplistic way to calculate is just take median income increase vs FRS increment. you think the % going to change a lot soon?

Data shows that there is an increase in FRS rate from 2018 to 2023 despite FRS climbing.

https://www.mom.gov.sg/newsroom/par...r-to-pq-on-full-retirement-sum-frs-attainment

https://www.cpf.gov.sg/employer/inf...cpf-trends/retirement-sums-and-silver-support

1. The proportion of active CPF members turning age 55 who have set aside their FRS fully in cash increased from about 4 in 10 in 2018 to about 5 in 10 in 2022.

Year

2021

2022

2023

Active members who set aside FRS

47%

49%

49%

 

[KYZT2021]

its a need and not choice

 

[junlove]

Data shows that there is an increase in FRS rate from 2018 to 2023 despite FRS climbing.

https://www.mom.gov.sg/newsroom/par...r-to-pq-on-full-retirement-sum-frs-attainment

https://www.cpf.gov.sg/employer/inf...cpf-trends/retirement-sums-and-silver-support

1. The proportion of active CPF members turning age 55 who have set aside their FRS fully in cash increased from about 4 in 10 in 2018 to about 5 in 10 in 2022.

Year

2021

2022

2023

Active members who set aside FRS

47%

49%

49%

eh, u happy with such rate of increase?
it ain't gonna to shift much, as long as the FRS 'annual increment'% is comparable to the annual income increment %

most importantly is the BRS. to be stringent, i think it needs to be over 90% for the scheme to be successful, but that's me

 

[tian_yibang]

Lol

If they can tell chiu "openly" , definitely they will say they prefer chiu work until die so that chiu dun burden on them

Live longer (and if bo zho kang) means gahmen must "sarpork" longer

But of cos they cant say this publicly, so must peng the narrative abit

 

[LoaGong12]

Don't think it's fair.

Our CPF is our money. It's not like social security in other countries paid from the county's coffers. What right do they have to delay me getting my own money back.

This is reason enough for me to turn against this party. I've voted for them for 25 years and its enough.

which other country gives u such a high guaranyeed rate of return?!?!

 

[LoaGong12]

i don’t understand why are EDMWers so critical of this.
many people after retiring lose sense of purpose , get depressed. dimensia

 

[batuchka]

re-employment or continued exploitation??

 

[LoaGong12]

Ditto for the other parties. In fact as someone with vested interests in CPF working out, I have more faith in a tenable status quo managed by the incumbent than the economically unsound ungrounded promises made by the current alternatives. Let the magic smoke out, and it can never be stuffed back into the box.

but EDMWers just want their cpf money as early as possible!

 

[ramlee]

Half a million savings possible to retire at late 50s?

Why anyone willing work till 70 is beyond me .

We need all the sexercise we can get

 

[ramlee]

some is..
people want to work, company want to hire or not?

It’s true. I 30+++ already they don’t want me

 

[ramlee]

% of population reaching FRS is likely to go up as population is more educated compared to current cohorts.

More educated but no jod to do how?

 

[ramlee]

Quite likely the mandate of cpf withdrawal be moved from 65 to 70 soon. So you all need to stay healthy until 70 and beyond to receive your hard earned money...

But I need the marnee NAO!