It means bend down and get fucked deeper lah...altogether huat ah!
Your arse pain?
It's inhumane to tell people to sell their only accommodation, a leased flat, if they need money. I'm glad I'm out of the system.
Can rent out whole flat meh?
PAP is bestest. Just like tonychat...bestest too
Tonychat is different. He and his family really got screwed by UMNO since 1949. Until he tak boleh tahan and run to Singapore to seek refuge (while his family back home in Malaysia still get screwed by their 46.75% majority Government).
now he is getting screwed by PAP....do you really want it????
Another shifting of the goalpost?I thought their plan was to gradually raise CPF from 80,000 to 155000 from 2003 to 2014 inclusive of 2.3% inflation? I thought that was the master plan? Now what?
How much is the Minimum Sum?
Setting aside the Minimum Sum (MS) when you reach 55 ensures that you have some regular income from age 65 to live on in your retirement.
The MS was set at $80,000 in 2003 and will be raised gradually until it reaches $120,000 (in 2003 dollars) in 2015. These amounts will be adjusted yearly for inflation.
If you are unable to set aside your full MS in cash, your property, bought with your CPF savings, will be automatically pledged for up to half of your MS.
Isn't it supposed to mean the CPF MSS will stop increasing after 2015? So what does "beyond that" means?
The plan was to raise the minimum sum from $80k in 2003 to $120k (in 2003 S$ before inflation) in 2013, after which the minimum sum will be pegged to inflation.
Because of the 2008 financial crisis, the $120k target was pushed back from 2013 to 2015 and the increments were made more gradual between 2008 and 2015.
So nobody should be surprised by this increase in the Minimum Sum, it has already been announced more than decade ago. If you calculate in inflation, $161k next year will be the equivalent of $120k in 2003.
The good news, of course, is that this increment should be the last of the large increments since the $120k (2003 S$) target has been hit. Future years the Minimum Sum increment should be smaller.
Unless of course, they pass something in parliament to make further increases in the Minimum Sum.
No, the CPF MSS will continue to increase after 2015, but this increase will be pegged to inflation.
So based on Singapore's average inflation of 2.9% for the past few decades, you can expect the minimum sum to increase from $161000 in 2015 to ~$165500 in 2016, but of course this will vary depending on the actual inflation for the year.
so whats the point of investing in cpf then?i thought the whole point of investing is to beat inflation and preserve purchasing power plus achieve a real return on top of that......if we are just shifting the goal post and putting money in then whats the point?i want to beat inflation i can simply purchase a bunch of TIPs treasury bonds.not only the CPF cant beat inflation the government is asking us to make up the shortfall....what the fuck kind of deal is that??
not to mention they are pegging inflation to 5% a year thats insane....it shows the cost of living is rising drastically or the government is not doing its job right of keeping inflation low and not fucking things up.
Sinkies huat ah...vote PAP sibei song....