BRS is $93,000 FRS is $186000 in 2021. Is this government short of money? Maddness!

[cloudy]

www.businesstimes.com.sg
Budget 2020: Basic Retirement Sum set at S$93,000 for those turning 55 next year
Tue, Feb 18, 2020 - 4:53 PM
Fiona Lam[email protected]@FionaLamBT

THE Basic Retirement Sum (BRS) will continue to increase by the same 3 per cent per year for the next two cohorts, Deputy Prime Minister and Finance Minister Heng Swee Keat said in his Budget speech on Tuesday.

This means that for Central Provident Fund (CPF) members who turn 55 in 2021, the sum will be set at S$93,000. It will be S$96,000 for those turning 55 in 2022.

The BRS for CPF members who are 55 years old this year is S$90,500.

“These modest continuing adjustments are necessary for the payouts to keep up with basic retirement expenses,” Mr Heng said.

With continuing wage growth, each successive cohort has been able to save more. The government expects seven in 10 actively employed persons from the two cohorts – those turning 55 in 2021 and 2022 – to be able to set aside their BRS. This will be “significantly” more than the four in 10 about a decade ago, Mr Heng said.

BRS adjustments generally take into account long-term inflation and some improvements in standard of living.

The government needs to keep updating and improving its CPF policies so they remain appropriate for each cohort, Mr Heng said.

For more Budget 2020 stories, visit bt.sg/budget20.

 

[cloudy]

By the time I hit 55, at this rate of increase, I must as well die earlier. At least my daughter can get my CPF monies and use it rather than let this government invests and lose it! Darn!!!

 

[sweetiepie]

By the time I hit 55, at this rate of increase, I must as well die earlier. At least my daughter can get my CPF monies and use it rather than let this government invests and lose it! Darn!!!

KNN do proper financial planning every sinkie can leech the min sum when they leech 55 KNN my uncle doesn't earn much per month and olredi exceeded the min sum for a few more years ahead of the would be min sum KNN

 

[jw5]

Please ensure that your daughter is your nominated CPF beneficiary.

By the time I hit 55, at this rate of increase, I must as well die earlier. At least my daughter can get my CPF monies and use it rather than let this government invests and lose it! Darn!!!

 

[garlic]

By the time I hit 55, at this rate of increase, I must as well die earlier. At least my daughter can get my CPF monies and use it rather than let this government invests and lose it! Darn!!!

Bo bao hor... they got many patterns to chut...

 

[cloudy]

Bo bao hor... they got many patterns to chut...

I will continue to vote Opposition. Hopefully, one day my fellow Singaporeans will wake up, realise that this CPF BRS and FRS is a bottomless pit sucking away our preciously hard earned monies from our own sweat and labour, but thrown into pit of state losses in investments.

 

[Narong Wongwan]

They are still just adjusting the %
Wait they adjust the age yet again then you really have to wait long long to even smell your partial CPF

 

[sweetiepie]

I will continue to vote Opposition. Hopefully, one day my fellow Singaporeans will wake up, realise that this CPF BRS and FRS is a bottomless pit sucking away our preciously hard earned monies from our own sweat and labour, but thrown into pit of state losses in investments.

They are still just adjusting the %
Wait they adjust the age yet again then you really have to wait long long to even smell your partial CPF

KNN just think along this line and you will not feel cheated KNN
1. We wouldn't know when we will die KNN as long as you are still surviving you will need money KNN
2. Be it 65 or 70 as long as you don't die you need money so even adjusting age is not a major issue becas that amount is the min for you to spend if you are still surviving KNN
3. Ensure you have sufficient money for yourself to spend between your preferred leetirement age eg 55 to 70 KNN
If you cannot even achieve this then KNN you are a useless scums of the society KNN get cpf also not gonna help you treat this disease aka tam chia ter nao KNN so better off dead KNN

 

[sweetiepie]

KNN just think along this line and you will not feel cheated KNN
1. We wouldn't know when we will die KNN as long as you are still surviving you will need money KNN
2. Be it 65 or 70 as long as you don't die you need money so even adjusting age is not a major issue becas that amount is the min for you to spend if you are still surviving KNN
3. Ensure you have sufficient money for yourself to spend between your preferred leetirement age eg 55 to 70 KNN
If you cannot even achieve this then KNN you are a useless scums of the society KNN get cpf also not gonna help you treat this disease aka tam chia ter nao KNN so better off dead KNN

KNN my uncle state these is not becas he is pap supporters but simply a socially responsible sinkie KNN you can comprain about many things done by pap and for cpf the actual problem lies in the medisave KNN becas you cannot choose whether you can don't fall sick and pap doesn't allow you to use it even if you are sick KNN whereas noone asked you to get married and have children to feed and comprain your celery is not enough KNN KNN noone forced you to buy a big house KNN etc KNN KNN KNN you can fuck pap for letting fts to steal you jobs but you cannot comprain you not enough money to feed your baby becas before having the baby for buying the house you should have factored in all the risk KNN

 

[sweetiepie]

KNN my uncle state these is not becas he is pap supporters but simply a socially responsible sinkie KNN you can comprain about many things done by pap and for cpf the actual problem lies in the medisave KNN becas you cannot choose whether you can don't fall sick and pap doesn't allow you to use it even if you are sick KNN whereas noone asked you to get married and have children to feed and comprain your celery is not enough KNN KNN noone forced you to buy a big house KNN etc KNN KNN KNN you can fuck pap for letting fts to steal you jobs but you cannot comprain you not enough money to feed your baby becas before having the baby for buying the house you should have factored in all the risk KNN

KNN basically a socially responsible person MUST know what is self inflicted and what is not before they start to comprain KNN a good example can be found in this thread whereby my uncle kpkb about the fucking banks KNN
https://www.sammyboy.com/threads/knn-bank-hijack-your-money-and-ask-for-ransom-ccb-knn.265113/
The sequence of event is such that
1. Rast year he was trapped by the internet banking app that upon accidental swipe a fund transfer with a default setup of fast transfer can be made to become non fast transfer aka hijack by bank KNN henceforth he comprain it and after learning that lesson he has become very careful when doing a fund transfer KNN
2. Now KNN even doing a correct transfer the fucking bank still can set trap for the fund to be hijack KNN henceforth he has the right to comprain again becas it is not self inflicted KNN
3. Now comes the important part KNN should my uncle continue to use the fucking banking app and subject to their abuse ? KNN it is up to him KNN if he still want to use he have to stop any comprain else is don't ever use the fucking app again KNN

 

[AhΜeng]

KNN just think along this line and you will not feel cheated KNN
1. We wouldn't know when we will die KNN as long as you are still surviving you will need money KNN
2. Be it 65 or 70 as long as you don't die you need money so even adjusting age is not a major issue becas that amount is the min for you to spend if you are still surviving KNN
3. Ensure you have sufficient money for yourself to spend between your preferred leetirement age eg 55 to 70 KNN
If you cannot even achieve this then KNN you are a useless scums of the society KNN get cpf also not gonna help you treat this disease aka tam chia ter nao KNN so better off dead KNN

Excellent and realistic advice!

 

[Bad New Brown]

KNN just think along this line and you will not feel cheated KNN
1. We wouldn't know when we will die KNN as long as you are still surviving you will need money KNN
2. Be it 65 or 70 as long as you don't die you need money so even adjusting age is not a major issue becas that amount is the min for you to spend if you are still surviving KNN
3. Ensure you have sufficient money for yourself to spend between your preferred leetirement age eg 55 to 70 KNN
If you cannot even achieve this then KNN you are a useless scums of the society KNN get cpf also not gonna help you treat this disease aka tam chia ter nao KNN so better off dead KNN

Yes bro this is a very basic survival guide on money management.

An example is if @ginfreely is very lucky to live and reach the age of 80 and she is dead broke she has no money for basic livings assumingly at that future there is no social assistance and handouts available

She will be likely on the streets selling tissue papers so I would think that she is one of those useless scums of the society.

We need to have enough money till the day we say goodbye to this beautiful world

 

[AhΜeng]

An example is if @ginfreely is very lucky to live and reach the age of 80 and she is dead broke she has no money for basic livings assumingly at that future there is no social assistance and handouts available

I tend to view long life as a torture. I go kopitiam see old and elderly men all like rotting away their life when I look at their faces. It's like want to die but cannot die and just withering away very slowly...

 

[halsey02]

By the time I hit 55, at this rate of increase, I must as well die earlier. At least my daughter can get my CPF monies and use it rather than let this government invests and lose it! Darn!!!

Beware by then, the PAP government will say that, yOUR CPF monies will be credited into her CPF ACCOUNT, that she can withdraw at 55 years of age, after fufilling more rules to retain the monies. You better migrate, take the monies with you.

 

[Bad New Brown]

KNN my uncle state these is not becas he is pap supporters but simply a socially responsible sinkie KNN you can comprain about many things done by pap and for cpf the actual problem lies in the medisave KNN becas you cannot choose whether you can don't fall sick and pap doesn't allow you to use it even if you are sick KNN whereas noone asked you to get married and have children to feed and comprain your celery is not enough KNN KNN noone forced you to buy a big house KNN etc KNN KNN KNN you can fuck pap for letting fts to steal you jobs but you cannot comprain you not enough money to feed your baby becas before having the baby for buying the house you should have factored in all the risk KNN

Young parents, not everything need go for the best. If one cannot afford private property, then don't buy it.

We rather live a happy life then a miserable unaffordable life

 

[Bad New Brown]

I tend to view long life as a torture. I go kopitiam see old and elderly men all like rotting away their life when I look at their faces. It's like want to die but cannot die and just withering away very slowly...

Money will not be enough once people live after the age of 80s and rather more money needed for nursing home after the age of 90s.

 

[AhΜeng]

Young parents, not everything need go for the best. If one cannot afford private property, then don't buy it.

We rather live a happy life then a miserable unaffordable life

The trend I see is sinkies buy BTO before 30s, upgrade to condo before 40s, (then hoping to make a windfall from private property prices), dowgrade in their late 50s to a HDB flat again.

Many still have problems downgrading to HDB after upgrading to condo, as there's a psychological SES status mental roadblock in them.

 

[Bad New Brown]

The trend I see is sinkies buy BTO before 30s, upgrade to condo before 40s, (then hoping to make a windfall from private property prices), dowgrade in their late 50s to a HDB flat again.

Many still have problems downgrading to HDB after upgrading to condo, as there's a psychological SES status mental roadblock in them.

Not easy for people with a bank loan of about $700,000 after upgrading to condo. What happen if the condo do not have a resale value when they try to dispose it for downgrading back to HDB.

Live an easy simple life is much better than slogging for such SES

 

[Narong Wongwan]

The trend I see is sinkies buy BTO before 30s, upgrade to condo before 40s, (then hoping to make a windfall from private property prices), dowgrade in their late 50s to a HDB flat again.

Many still have problems downgrading to HDB after upgrading to condo, as there's a psychological SES status mental roadblock in them.

BTO before 30s might still be doable but condo before 40s is a little tough since hoping to make windfall from property is very hard now

 

[Bad New Brown]

BTO before 30s might still be doable but condo before 40s is a little tough since hoping to make windfall from property is very hard now

My uncle said it is very difficult to sell a 2nd hand condo on a resale market as rich people prefer new launches

Most private condo sellers lose money on the resales market