THIS IS ANOTHER PROPOGANA...NORTH KOREA STYLE.
I would like to see the MIWs live on $360 a month in Singapore.
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</td></tr> <tr><td class="msgtxt">Singaporean happy with monthly payout of $360 from CPF Life
October 19, 2009 by admin
Filed under Top News
Leave a comment Temasek Review
From our Correspondent
Since the introduction of CPF Life, close to 12,000 Singaporeans have signed up for it.
One of them is Madam Yeo, who will receive $360 a month from her CPF Basic Plan.
Madam Yeo told the state media that the amount is sufficient for her as her son will take care of the household bills.
There are four plans under CPF Life – Life Basic, Life Balanced, Life Plus and Life Income – with payouts coming from a CPF member’s Retirement Account.
The scheme will automatically apply to those turning 55 from 2013 and who have at least $40,000 in their CPF savings.
In the past, Singaporeans were able to withdraw their CPF in one lump sum, but now they will have to keep a minimum sum in their accounts and content themselves with a monthly payout.
CPF Life was unveiled in February last year to help tackle the problems of an ageing population, when people’s retirement savings may not be enough to keep pace with longer lifespans.
The government has consistently encouraged Singaporeans to work as long as they can to support themselves.
The high cost of public housing is one key reason why Singaporeans are not having enough savings in their CP
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I would like to see the MIWs live on $360 a month in Singapore.
<table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">23009.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt">Singaporean happy with monthly payout of $360 from CPF Life
October 19, 2009 by admin
Filed under Top News
Leave a comment Temasek Review
From our Correspondent
Since the introduction of CPF Life, close to 12,000 Singaporeans have signed up for it.
One of them is Madam Yeo, who will receive $360 a month from her CPF Basic Plan.
Madam Yeo told the state media that the amount is sufficient for her as her son will take care of the household bills.
There are four plans under CPF Life – Life Basic, Life Balanced, Life Plus and Life Income – with payouts coming from a CPF member’s Retirement Account.
The scheme will automatically apply to those turning 55 from 2013 and who have at least $40,000 in their CPF savings.
In the past, Singaporeans were able to withdraw their CPF in one lump sum, but now they will have to keep a minimum sum in their accounts and content themselves with a monthly payout.
CPF Life was unveiled in February last year to help tackle the problems of an ageing population, when people’s retirement savings may not be enough to keep pace with longer lifespans.
The government has consistently encouraged Singaporeans to work as long as they can to support themselves.
The high cost of public housing is one key reason why Singaporeans are not having enough savings in their CP
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