Posts: 2,743
Threads: 23
Joined: Mar 2013
Reputation:
25
(24-02-2015, 09:50 AM)specuvestor Wrote: (23-02-2015, 09:55 PM)NTL Wrote: (23-02-2015, 08:00 PM)investor101 Wrote: (23-02-2015, 05:26 PM)egghead Wrote: Budget 2015:
1. CPF contribution ceiling increase from $5k to $6k
2. Up to 6% interest for the first $30k for 55 yo and above people
3. Increase in CPF contribution rate for people 50 yo and above
4. Increase SRS contribution ceiling to $15,300
Cheers!!
I hope you all realize that if wasn't for Roy Ngerng who blew the lid off this matter, we would most likely not have enjoyed this increase in CPF returns.
Thank you Roy!
What did Roy blow anyway? Can help me to recall?
The higher 6% interest is only for the first $30k. Nonetheless i think their timing is really bad that gives credence to Roy's half truths. The Lee Jr govt style is much more accommodative if we compare the styles of the past 2 PM, but politically makes more sense to adjust after a period of time to deter speculation
The other aspect is govt going to put SWF PnL into budget instead of just the dividend IMHO is a very bad move. It will just increase volatility of the budget and increase demand for short term performance as it becomes a revenue generator. If we recall prior to the elected Prez, SWF was separate from the budget even for dividends.
Roy is not even a fly on PAP radar. Minds can be shaped by marketing or propaganda. If whole day consider here scared there, Govt will end up reactive rather than proactive.
Anyway this is a election budget to sweeten the ground. I doubt WP will gain any GRC or single wards in the next election. after their lousy mgt of Aljunied GRC.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
Posts: 1,767
Threads: 14
Joined: Jan 2011
Reputation:
15
24-02-2015, 11:45 AM
(This post was last modified: 24-02-2015, 11:45 AM by corydorus.)
The 2015 Budget theme is about future and indeed so in all the policies outlined including Silver support.
Other than that, the key takeaway i see in the Budget.
1. CPF ceiling to 6K <= More Compounding
2. Higher Tax for high income earners <= More Equitability
I agreed No Relation to Roy.
Posts: 1,045
Threads: 5
Joined: Nov 2012
Reputation:
6
No wonder all the Roy's supporters suddenly keep quiet... all are false remarks again without substance....
I have nothing else to say.
Posts: 19
Threads: 0
Joined: Aug 2013
Reputation:
0
I have been wondering for quite sometimes every times when I read news reports saying that Malaysia's EPF was paying good dividends to their members. Search thru internet, I discovered all EPF members' accounts have been receiving an average of 6.678% yearly dividends during the last 30 years!
Compared to the mere 2.5% interest CPF members received. Members of the CPF Board may have been TOO conservative in the investment of CPF fund (total $252+ billions)
The surplus stated in the 2013 CPF Board's annual report is only about $2.5 billion, there is no way to pay more to CPF members, sorry lah.
Posts: 692
Threads: 1
Joined: Dec 2010
Reputation:
7
No problem, I'm done with this OT that I started.
Posts: 775
Threads: 5
Joined: Dec 2010
Reputation:
16
> Malaysia's EPF was paying good dividends to their members. Search thru internet, I discovered all EPF members' accounts have been
> receiving an average of 6.678% yearly dividends during the last 30 years!
> Compared to the mere 2.5% interest CPF members received. Members of the CPF Board may have been TOO conservative in the
> investment of CPF fund (total $252+ billions)
I rather choose the latter. Because if I have parked my $ in EPF, the ringgit would have dropped to less than half over the last 20 years! MY persistent deficit caused the drop in RM against the SGD...
Posts: 9,841
Threads: 711
Joined: Mar 2012
Reputation:
64
It seems a lot of interest on the WP town-council topic. It is an OT discussion here, but there is a thread on the topic in Others sub-forum.
Let's refocus on CPF related. You can continue the discussion on WP town-council topic over the other thread.
Thank
Regards
Moderator
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
Posts: 395
Threads: 7
Joined: Mar 2013
Reputation:
4
Just to check something on the new CPF $6000 ceiling. The news said about 554,000 middle-income earner will benefit. I thought those who earns >$5000 will benefit. Also effectively, the increase is $170 (max) which comes from employer's contribution. The $200 (max) is a transfer from your cash to CPF.
Based on a employed resident of 2.056mil in 2014, if I assumed that 554k workers sat in the middle band, then about about 1.3mil workers earns more than $5000. Assuming a simple 12-month (ie I excluded mid- and end-year bonus, etc), then is CPF collecting about an extra $5.8bil (=1.3*370*12) every year upfront?
Is my sum right?
Homepage
PR Newswire
