Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation:
17
Ha! Ha!
My CPF LIFE will be increased by $10.49 cents from this JULY.
i think it is a viable scheme as more and more younger people are "forced to join" when they have reached "retirement age".
How much is your increase in $? in %?
My is about 1.63%.
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.
Posts: 1,045
Threads: 5
Joined: Nov 2012
Reputation:
6
I am trying hard not to depend on CPF Life to fund my retirement. For one reason, I am currently not contribution to CPF. Will depends on other means to cover my shortfall when I reach 65.
Based on my best estimate, I should be withdrawing around $700-800 per month (roughly $350-400 today's dollar) from CPF Life when reaching my turn.
Posts: 2,744
Threads: 23
Joined: Mar 2013
Reputation:
25
09-05-2014, 04:32 PM
(This post was last modified: 09-05-2014, 04:32 PM by opmi.)
(09-05-2014, 11:56 AM)Temperament Wrote: i think it is a viable scheme as more and more younger people are "forced to
You mean it is like a scheme like 'later participants pays for earlier participants"..hahahah....
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
Posts: 457
Threads: 7
Joined: Dec 2012
Reputation:
5
09-05-2014, 05:02 PM
(This post was last modified: 09-05-2014, 05:03 PM by safetyfirst.)
hmmm i dont quite believe that the payout increases as a result of more people joining
Posts: 3,732
Threads: 6
Joined: Oct 2012
Reputation:
95
I think as more people joins, the cost ratio goes down and hence payout increases
This is very different from ponzi, unless their actuarial study turns out to be as reliable as our car traffic projections
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
Posts: 1,045
Threads: 5
Joined: Nov 2012
Reputation:
6
Other than mortality rates, one other component is the interest rate they use for calculation.
Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation:
17
(09-05-2014, 04:32 PM)opmi Wrote: [quote='Temperament' pid='82126' dateline='1399607816']
i think it is a viable scheme as more and more younger people are "forced to
You mean it is like a scheme like 'later participants pays for earlier participants"..hahahah....
[/quot
Ha! Ha!
Don't be to happy. if you read the fine print, the amount can decrease also. What's more, there is no guarantee a base limit of payout. (aka how low can it goes? Zero or what?)
That's why in the beginning, this was one of the reasons, i didn't join. Since i have an option.
Crazy isn't it no base limit of guarantee payout and you call this CPF income for life?
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.
Posts: 100
Threads: 0
Joined: Oct 2012
Reputation:
3
I view this as a bond component of a retirement portfolio. Decent risk-free returns of 4% and 5% (on first S$40,000). I am 35 this year and aim to hit the minimum sum again by end 2014 by contributing under the minimum sum topping-up scheme. Reduces my assessable income for tax savings.
Homepage
PR Newswire
