CPeeF LIE Kena C Grade by Mercer!

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>CPL (kojakbt22) <NOBR>

</NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>8:38 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 1) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>24958.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Wednesday, November 25, 2009

<!-- Begin .post -->Expert Defense of CPF : FLAWED

http://singaporemind.blogspot.com/2009/11/expert-defense-of-cpf-flawed.html


In Oct 2009, Mercer's Global Pension Fund Index gave the CPF a 'C' grade. The full report is found here [Link].



The CPF did especially poor in adequacy and integrity (3rd from the bottom among 11 countries). In response to the Mercer report, an 'expert' who was involved in designing CPF Life defends the CPF in today's Straits Times. Most netizens would like to hear from a expert like Leong Sze Hian, but we get this expert from the National Longevity Insurance Committee tell us how good our CPF is. Is the CPF so complex that ordinary Singaporeans cannot understand the scheme and need a government expert to tell us how good it is? If the expert says it is good, then it has to be...Mercer's report is flawed, CPF is the best! I suggest you read what this expert says about the CPF in the Straits Times and see if you agree with her.

"...confirm will have report say the (Mercer) report is misleading not accurately blah blah blah"
- fuckwarezone forum 16 Oct 2009[Link].
.
​

I'll be back to do a line by line analysis of what the 'expert' has said.​

[email protected]

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[Fu Xi]

Fuck! We do not need some bootlicker bitch "expert" from peesailand to comment! PAP propaganda machine at its best! :oIo:

 

[phouse3]

Mercer: Singapore’s net income replacement rate is particularly low due to the nature of the CPF and the members’ ability to access funds for a number of purposes.

Professor Chia (NUS): Although a large proportion of a retiree’s funds is tied up in home ownership and health costs, these items add to his security. The Government also provides various avenues for Singaporeans to unlock the value of homes through subletting, downgrading and the lease buyback scheme.

Chan Beng Seng( Director, MOM): Raising the draw-down age, the new interest rate framework and the introduction of CPF Life, would further enhance the effectiveness of the CPF in meeting the retirement needs of its members.

Every month, Singaporeans contribute 36.5% * of their income to the fully-funded national pension fund (aka CPF), yet their Net Income Replacement ratio is low.

An excuse like there are various avenues for Singaporeans to unlock the value of homes through subletting, downgrading and the lease buyback scheme is strange.

We mustn't forget an enormous number of Singaporeans sublet, downgrade and sell their flats before retirement too. Rentals are considered income and taxable. We even have to pay ourselves interest rates, to be returned to CPF, when we sell our flats.

Excuses like there are new measures to withhold your pension money, new interest rate regime and CPF Life are truly ridiculous.

Withholding your CPF until a later age to achieve a better Net Income Replacement ratio is dishonest. They might as well raise retirement and withdrawal age to 70 or 80. It also causes hardship. The interest rate regime (whether old or new) is simply way below what mutual funds and pension funds are achieving.

I think Mercer has erred on the conservative side. They should have given a 'D'.


* scale-down according to age

 

[cooleo]

Cee Pee F Life is like the tale of The Emperor's Clothes. Everyone ooh and ahhh at a shitty product, but it takes an outsider to point out the B.S

 

[Watchman]

Give you low salary ask you to contribute CPF with employer .

Money to be stuck to date to be announce .

If you don't have $500,000 . It's waste time .