CPF LIFE
09-05-2014, 11:39 PM
(09-05-2014, 06:30 PM)Temperament Wrote: That's why in the beginning, this was one of the reasons, i didn't join. Since i have an option. Wonder what made you change your mind and join in the end? The former plan guarantee that every cent + interest will be returned to you by monthly installment instead. 
09-05-2014, 11:39 PM
(09-05-2014, 11:31 PM)valuebuddies Wrote: Something new to me, did a check and .... CPF members turning 55 in 2013 or later with at least S$40,000 in the retirement account will be automatically included in CPF Life.
09-05-2014, 11:40 PM
(09-05-2014, 11:39 PM)Caelitus Wrote:(09-05-2014, 11:31 PM)valuebuddies Wrote: Something new to me, did a check and .... By the time I turns 55, if God permits, CPF LIFE might not exist anymore.... 
10-05-2014, 09:32 AM
(09-05-2014, 11:31 PM)valuebuddies Wrote: Something new to me, did a check and ....What you said is true only for some people and not for all people.
WB:-
1) Rule # 1, do not lose money. 2) Rule # 2, refer to # 1. 3) Not until you can manage your emotions, you can manage your money. Truism of Investments. A) Buying a security is buying RISK not Return B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return. NB:- My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
10-05-2014, 09:33 AM
(09-05-2014, 06:58 PM)ValueMaster Wrote:(09-05-2014, 11:56 AM)Temperament Wrote: Ha! Ha! If you really like to know more about me just click on "Temperament"
WB:-
1) Rule # 1, do not lose money. 2) Rule # 2, refer to # 1. 3) Not until you can manage your emotions, you can manage your money. Truism of Investments. A) Buying a security is buying RISK not Return B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return. NB:- My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
10-05-2014, 09:50 AM
(This post was last modified: 10-05-2014, 09:59 AM by Temperament.)
(09-05-2014, 11:39 PM)edragon Wrote:Do you have an option too?(09-05-2014, 06:30 PM)Temperament Wrote: That's why in the beginning, this was one of the reasons, i didn't join. Since i have an option. If so have you joined? i join because i know this scheme will work as more and more younger workers are forced to join as they reach retirement age. And also my initial payout rate by CPF LIFE is more than my monthly installment rate which should last till 85 that is if CPF (RA) keeps the 4% interest rate. This rate is not guaranteed too. But how nice now CPF life increase my payout by $10.49 cents. i think the possibility of decreasing payout by CPF life is remote because of the large pool of workers "forced to join" every year. imho.
WB:-
1) Rule # 1, do not lose money. 2) Rule # 2, refer to # 1. 3) Not until you can manage your emotions, you can manage your money. Truism of Investments. A) Buying a security is buying RISK not Return B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return. NB:- My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
10-05-2014, 10:29 AM
(10-05-2014, 09:50 AM)Temperament Wrote: But how nice now CPF life increase my payout by $10.49 cents. Uncle Temperament You are still alleging that CPF life functions like a ponzi scheme. If so, the actuarial guys should be shot.  A more plausible explanation could be (as mentioned by other forumners) (i)cost savings (ii)higher return or (iii)higher than expected mortality, etc.
10-05-2014, 10:48 AM
The government don't need a ponzi scheme. They have a printer. Just hope the the inflation don't shoot up too high.
10-05-2014, 11:16 AM
(10-05-2014, 10:29 AM)HitandRun Wrote:The way i say it is really opened to individual's interpretations. (i sorry about that).(10-05-2014, 09:50 AM)Temperament Wrote: But how nice now CPF life increase my payout by $10.49 cents. What is more correct to interpret is this immediate annuity scheme (CPF LIFE) will not close shop or dies (or for that matter new memberships are critical to keep any annuity scheme "alive") because there are more and more people joining this scheme compulsorily. If no new members after CPF life started, wont it dies a natural death as all the members dies one by one. This is what i meant, annuity scheme always needs more and more new members to keep it alive. Correct me if you think i have the wrong idea. PONZI SCHEME has never entered my mind . No ! Not at all. i hope i have made myself clear. Excuse me , if my England is poorly expressed. On the other-hand, hmmm....since so many people think i am talking about Annuity is like a "Ponzi Scheme", i think there is some "resemblance" (aka need new members to keep it alive) except that the pooling of funds by members are really invested for returns to keep the payout reasonable. No new members will definitely die a natural death-i think it's true for all Annuity scheme.
WB:-
1) Rule # 1, do not lose money. 2) Rule # 2, refer to # 1. 3) Not until you can manage your emotions, you can manage your money. Truism of Investments. A) Buying a security is buying RISK not Return B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return. NB:- My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore. |
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