Why people don't like CPF?

[wlalala]

Me just calculated how much i will have in my cpf when I'm old

not bad leh

even if i wipe out my OA to buy house still can easily hit 1 million with SA contributions alone

feel so rich now after doing the calculations

thank you cpf

 

[Pumpkin Duke]

tiagong cpf notch chiur monkey

 

[Atrina_Boy]

Use to be a good scheme until goal post shifting exercise begins

 

[popdod]

Bcoz BBFA ish forever alone.
die Liao. Money gib to gahmen

 

[andyhtc]

Me just calculated how much i will have in my cpf when I'm old

not bad leh

even if i wipe out my OA to buy house still can easily hit 1 million with SA contributions alone

feel so rich now after doing the calculations

thank you cpf

The issues lie in the removal of the interest that would have accumulated in the amount used to buy CPF Life after 65 years old, and the payout is not guaranteed.

 

[fandango]

Me just calculated how much i will have in my cpf when I'm old

not bad leh

even if i wipe out my OA to buy house still can easily hit 1 million with SA contributions alone

feel so rich now after doing the calculations

thank you cpf

Most of the time, those people who don't like cpf are people who don't bother spending time to read the cpf policies and understand the mechanics.

 

[amransan]

Me just calculated how much i will have in my cpf when I'm old

not bad leh

even if i wipe out my OA to buy house still can easily hit 1 million with SA contributions alone

feel so rich now after doing the calculations

thank you cpf

because there CPF the price of hdb flat keep on going UP and the younger generations have a hard time buying a roof above their head.

i rather have pension then CPF at least hdb flats wont be so expensive and when i am old i can retire gracefully. (if i still living in sg)

 

[fandango]

To add on, the recent move to close SA is diabolical, and need to slap PAP. Just base on this alone, I will not not vote PAP.

 

[Taloona]

Use to be a good scheme until goal post shifting exercise begins

How can a policy be static and doesn't evolve with times? Inflation and longer lifespan are real. For any change in CPF policy, usually ample notice is given to each cohort, except maybe the recent change in SA.

I have seen many of my late father's peers squandered away their money back in the days when you can withdraw your money at 55. Many do not know how to handle large sums of money.

Life is a gamble. You may live a long life or you may not. It is this unpredictability that we need CPF Life. If I die before 65, well, the money goes to my beneficiaries. However, if I happen to live till 90, the money from CPF life will ensure I have a steady stream of income to sustain me.

 

[Taloona]

The issues lie in the removal of the interest that would have accumulated in the amount used to buy CPF Life after 65 years old, and the payout is not guaranteed.

Well, if you have a private annuity that is better than CPF Life, you can write in to CPF and be exempted from joining CPF Life.

 

[Knightoftheblackrose]

I look forward to collecting over $3k every month when I reach 65.



moi already hit ERS long time ago.

 

[Bam25th]

CPF used to be better, until the SA got removed.

But it’s still good….. only the poor hates CPF cause whatever little money they have in there give them peanuts with CPF Life. What is the use of few hundreds a month?
So, to these ppl, they rather be able to withdraw those money.

 

[Taloona]

because there CPF the price of hdb flat keep on going UP and the younger generations have a hard time buying a roof above their head.

i rather have pension then CPF at least hdb flats wont be so expensive and when i am old i can retire gracefully. (if i still living in sg)

Why was pension scrapped? Because it is not sustainable. The money has to come from some where.

My beef is with Careshield payout. You must be unable to perform three out of six Assisted Living before you can qualify for the payout. The criteria are too strict. You must be basically am invalid to claim the payout but we know even if you have only one or two disabilities, you can banish all hope of ever finding work to support yourself. Then how to survive with no payout, say, if you are not so well to do and have no other private insurance?

 

[hachi]

Me just calculated how much i will have in my cpf when I'm old

not bad leh

even if i wipe out my OA to buy house still can easily hit 1 million with SA contributions alone

feel so rich now after doing the calculations

thank you cpf

You got 200y lifespan? SA alone, 1m

 

[Taloona]

CPF used to be better, until the SA got removed.

But it’s still good….. only the poor hates CPF cause whatever little money they have in there give them peanuts with CPF Life. What is the use of few hundreds a month?
So, to these ppl, they rather be able to withdraw those money.

Quite true. The very poor, already struggling with bread and butter issues daily, will have very little CPF in their entire life if they are stuck (which many are) in the poverty cycle.

But this is another issue altogether. The wage disparity between blue and white collar jobs should not be so stark. Blue collar workers deserve a decent wage too.

 

[hachi]

Quite true. The very poor, already struggling with bread and butter issues daily, will have very little CPF in their entire life if they are stuck (which many are) in the poverty cycle.

But this is another issue altogether. The wage disparity between blue and white collar jobs should not be so stark. Blue collar workers deserve a decent wage too.

Govt have alot of policies to uplift them... But too bad... It don't work so well even for their kids..

 

[ninjaghost]

good for you, you have already over subscribed. So you're most likely the top 20% account holder i guess can flexible enough to withdraw your money from OA while maintained the min. sum unless you put all money in your RA for payout once SA cease.

people don fulfilled the min sum, they can't withdraw the money freely whenever they need after 55yo. You think the handout from gov enough to solve their every bread and butter issue? Likely CPF would only ask the account holder to borrow money from their children/relative/go to pawn shop to resolve their finance issue.

 

[decade]

why do i need to think of the society to spend my own money, if tat ** wheelchair bound nmp is to be believed

 

[Zinna]

Cause many people died before got chance to withdraw CPF

 

[Semakdd]

To add on, the recent move to close SA is diabolical, and need to slap PAP. Just base on this alone, I will not not vote PAP.

Err... double negatives means a yes