i am not in the insurance line. i dont know how to factor in insurance
Retirement plan
- Thread starter myrick
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Value.Matrix
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The valuation is not easy, but honestly the death benefit table XIRR is not pretty. CPF Life still gives better returns.
You must look at the terms of the particular policy. But from what I have seen, usually the death benefit is about 101% to 110% of the single premium put in. That’s not much. And once the payout starts, this death benefit reduces correspondingly. And once u claim the death benefit, the policy ceases. No more payments. Sooo, usually the insurance coverage is NOT much of a benefit!
Hi all. Does anyone know whats the benefits given to a low income elderly (presumably just WIS) vs zero income benefits given to a retireee?
The person is currently working and He has $500 cpf monthly. he is under WIS
Employees
No application is required.
Your WIS eligibility will be automatically assessed based on the CPF contributions made by your employer.
Self-employed persons You'll need to:
Declare your income to IRAS if you have been issued an income tax return package or to CPFB at any Singapore Post branch if you have not been issued the income tax return package, and
Make the required MediSave contributions.
***
After 1 Jan 2023
Employees:
Monthly payout of up to $4,200 per year (40% cash, 60% in CPF)
Self-employed persons
Annual payout of up to $2,800 per year (10% cash, 90% in Medisave)
The person is currently working and He has $500 cpf monthly. he is under WIS
Employees
No application is required.
Your WIS eligibility will be automatically assessed based on the CPF contributions made by your employer.
Self-employed persons You'll need to:
Declare your income to IRAS if you have been issued an income tax return package or to CPFB at any Singapore Post branch if you have not been issued the income tax return package, and
Make the required MediSave contributions.
***
After 1 Jan 2023
Employees:
Monthly payout of up to $4,200 per year (40% cash, 60% in CPF)
Self-employed persons
Annual payout of up to $2,800 per year (10% cash, 90% in Medisave)
Last edited:
reddevil0728
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benefits in what sense? application for financial support scheme?
reddevil0728
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can check this out
https://supportgowhere.life.gov.sg/
Besides Income, Annual Value of Property would likely matter.
So zero income retirees who has very valuable properties would likely not qualify for anything
can check this out
SupportGoWhere
Find social and public support for individuals and families in Singapore with ease.
supportgowhere.life.gov.sg
Besides Income, Annual Value of Property would likely matter.
So zero income retirees who has very valuable properties would likely not qualify for anything
yep tks. thinking if there’s benefits for retirees. the website like nt v apparent on this
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reddevil0728
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Retirees no different from any person regardless of age who stop working, no employment income but extremely rich in other way.
not really fair to be able to get financial support right
How abt poor retirees?
reddevil0728
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Then they are just poor no?
the poor wouldn’t be living in landed properties or condo, where annual value of the property is high
i think we r saying tt poor retirees have handouts schemes in indicated in tt website n tts it
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reddevil0728
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Cannot retire lor, get a hrly paid job,either pick up a table cloth and a broom to be cleaners, seen so many even in their 80s, work till dead when sleeping. If not also stay in old folks’ home waiting for the day to come. if rich, same same
Use brain in the wrong way, achieve wrong things in life, pai lang
reddevil0728
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Woah what’s this
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