Special Account After 55

[BBCWatcher]

if you say like that, what difference with a claim on lifelong income fund? A claim on RA, or CPF, or whatever, is just a claim. not money.

my bene's is not mine.

Are you sure that it is your money? Like money you save into your bank account?

As a technical matter of law, you're correct. All funds in all CPF accounts are (hyper technically) government owned assets. Every dollar, and every penny. Of course, the Central Provident Fund Board tracks and earmarks funds for the benefit of individual members.

 

[fr33d0m]

our cpf role model kenny has 1 mil in his cpf. he lost?

he saw the money in his account. he does not have it?

his 1 mil in cpf will be gone tomorrow. you tell him that he will laugh his toes off.

tell those who ask to "return their CPF".

 

[fr33d0m]

CPF life policy is not iconclad.

When CPF life wants to attract more people into the pool, it can easily change policy or introduce incentives to encourage more people to join the pool. After all, pooling is the only way to sustain CPF life scheme, just like medishield life.

There are many years after selecting CPF life plan, so whatever yield currently available or unavailable may not matter that much.

 

[dork32]

tell those who ask to "return their CPF".

yes, those that feel their cpf is all gone to the garmen are losers. they are totally lost, cant count, cant use excel.

who does this sound like?

 

[fr33d0m]

yes, those that feel their cpf is all gone to the garmen are losers. they are totally lost, cant count, cant use excel.

who does this sound like?

 

[LexusIS]

Money in RA within the rules does not lose a cents until kena forced to gamble with CPF Life.

Ah I hate this gamble. Lol
Worst..... seems like the minimum sum is expected to be high higher YoY. Can’t imagine the minimum sum - 10yrs down the road

 

[kehyi4]

Worst..... seems like the minimum sum is expected to be high higher YoY. Can’t imagine the minimum sum - 10yrs down the road

Actually, we can imagine it: CPFB had set the increase in FRS at ~3% between 2016 to 2020:

2015 - 155,000
2016 - 161,000 (+3.9%)
2017 - 166,000 (+3.1%)
2018 - 171,000 (+3.0%)
2019 - 176,000 (+2.9%)
2020 - 181,000 (+2.8%)

i think it's not unreasonable to imagine that ~3% would be the target even beyond 2020. In that case, we can imagine the following:

2025 - 211,000 (5 yrs down the road)
2030 - 246,000 (10 yrs down the road)

Of course, CPFB may decide to set a different, higher target for FRS increases, but that will come at some political cost, and i don't think the govt would do it lightly or without giving plenty of warning

 

[SKenny]

yes, those that feel their cpf is all gone to the garmen are losers. they are totally lost, cant count, cant use excel.

who does this sound like?

My CPF gone!! OH NO!!!

Seriously, I think they managed the CPF scheme poorly especially changes in a few areas. However most of these changes tend to have negative impact to the poorer people. I doubt they will do anything that will screwed themselves.

In short, I am still using CPF to my advantage. I will leave in a heartbeat when things change to my disadvantage.

 

[BlueRobin]

Worst..... seems like the minimum sum is expected to be high higher YoY. Can’t imagine the minimum sum - 10yrs down the road

Do you expect $1 in 2019 to be of the same value in 2029?

 

[henrylbh]

Do you expect $1 in 2019 to be of the same value in 2029?

depends.

Only 10 years between 2019 and 2029?

I bought my first laptop in 199x for more than 2k. Hard disk then was only 20mb That smaller than my 2TB thumb drive that I paid $15 only.