ho ching test ballon on cpf withdrawal age at 55 lai liao...good luck sinkies

[kaninabuchaojibye]

Ho Ching shares article against early CPF withdrawal – The Independent News

theindependent.sg

Singapore –The Central Provident Fund (CPF) and why some people who wish to empty their accounts early when such a decision could backfire in the future was the focus of a recent topic shared by Ho Ching.

“Why do some people want to empty their CPF accounts early when it will hurt them later?” was the title of a Singapore Matters article reposted by the CEO of Temasek Holdings and wife of Prime Minister Lee Hsien Loong, Mdm Ho. The report broke down the effect of choosing to withdraw or leave one’s money in the CPF account while highlighting why this support scheme is rated so highly in the world.

“Some people love it so much, they actually top up their retirement account up to an enhanced retirement sum so that they may enjoy a big and comfortable monthly payout for life,” the article noted. Singapore’s CPF has been rated as the best retirement scheme in Asia for its adequacy, sustainability and integrity by an independent panel of experts at the Melbourne Mercer Global Pension Index.

Instead of withdrawing at the age of 55, calculations show that leaving the amount to grow will yield higher monthly payouts such as receiving S$850 a month from CPF Life at the age of 65 for life, not just up to 85 years old. If one had a total of S$192,000 in their savings at the age of 55, the monthly payouts would increase to S$1,600.

According to Straits Times’ Invest Editor Tan Ooi Boon, there are two probable reasons why people still insist on withdrawing their CPF upon reaching the age of 55. People have a poor understanding of how the scheme works and listen to those ignorant of the process without bothering to conduct due diligence, said Mr Tan. He explained that 50 per cent of those who emptied their CPF only deposited the sum in their banks where interest rates don’t come close to CPF rates.

There were illogical fears that leaving the money in the CPF would mean not seeing it in the future as “the Government will allegedly come up with more reasons to deprive them of their money,” was another reason provided.

Members of the public replied to the post; many in agreement that the CPF would serve them well in the future. The scheme gives the best yield and protection for old age, many commented. Facebook user Chelsey Chen noted that 55 was a very young age in today’s society. “Those who have to depend only on their CPF after that age all the more should not draw it out” due to poor financial planning.

Meanwhile, a few commented that life was “short and unpredictable” and that withdrawing one’s CPF could be used to enjoy the fruits of their labour or fulfil their dreams and passions at an earlier age.

Photo: FB screengrabPhoto: FB screengrabPhoto: FB screengrab

 

[Leongsam]

I have always advocated against the withdrawal of CPF at any age.

Money spent is gone for good. Money invested gives you an income for life and nothing is better than the guaranteed high returns that CPF provides especially in the current low interest environment.

 

[syed putra]

I am a free marketeer. Your money your responsibility.

 

[face the facts]

I have always advocated against the withdrawal of CPF at any age.

Money spent is gone for good. Money invested gives you an income for life and nothing is better than the guaranteed high returns that CPF provides especially in the current low interest environment.

how about money that cannot take back ??

 

[Leongsam]

how about money that cannot take out??

The more you cannot take out the better it is for you.

 

[lostvirgin]

The more you cannot take out the better it is for you.

Darling, you are as logical as @ginfreely's virginity, more people need to think like you.

 

[Leongsam]

Darling, you are as logical as @ginfreely's virginity, more people need to think like you.

Since I retired 20 years ago I have not taken out a single cent of my capital. I started with $x and I have been constantly ADDING to the funds to enjoy compounded growth.

All I have ever consumed has been from the yield derived from my funds. I have juggled the funds to seek better yields but I have never spent a single penny of the nest egg.

CPF has to be treated the same way. Once the money is taken out and spent there is nothing left for old age.

 

[sweetiepie]

KNN ok lah still can withdraw at 65 KNN another 5 year buffer upto 70 yo my uncle give pap after which he will go cpfb with chopper KNN

 

[sweetiepie]

CPF has to be treated the same way. Once the money is taken out and spent there is nothing left for old age.

KNN my uncle think the best age to start the withdrawal is still in the midway of sinkie mindset and pap appetite i.e (55+65)/2=60 KNN

 

[Leongsam]

KNN my uncle think the best age to start the withdrawal is still in the midway of sinkie mindset and pap appetite i.e (55+65)/2=60 KNN

If you can withdraw and improve the yield by investing it yourself then that would be fine but how many can actually do that?

 

[nirvarq]

WHY ? Only Ho Jinx knows how to invest and lost millions ........

 

[sam heng]

This tranny is digusting.

 

[sweetiepie]

If you can withdraw and improve the yield by investing it yourself then that would be fine but how many can actually do that?

The withdrawal means in moderate amount monthly with most of the capital still compounding interest KNN my uncle think from 60 onwards left not much years to go should not be too particular over yields etc KNN

 

[sweetiepie]

My uncle also advise sinkie to follow this simple steps to huat using cpf from 55 onwards KNN
1. Pay off your housing mortgage ASAP KNN
2. build the min sum as young as possible KNN
3. After achieving 1 & 2 you will rikely nearing 50 KNN
4. Refund using cash to your cpf for the amount you had used cpf to pay your house KNN
5. At 55 you will see a lot of money in your cpf oa and sa then pap will transfer the $x to your ra according to the min sum for that year KNN
6. The money in the oa and sa will be rike a risk free bank account so there is no need for you to take any risk doing investment KNN
7. You can spend the money without worrying of no money at old age KNN at 65 you can start to do the monthly withdrawal KNN
Not difficult to achieve this even you are not a high income earner KNN my uncle already sailing at pt 4 waiting to enjoy pt 5 KNN

 

[sweetiepie]

My uncle also advise sinkie to follow this simple steps to huat using cpf from 55 onwards KNN
1. Pay off your housing mortgage ASAP KNN
2. build the min sum as young as possible KNN
3. After achieving 1 & 2 you will rikely nearing 50 KNN
4. Refund using cash to your cpf for the amount you had used cpf to pay your house KNN
5. At 55 you will see a lot of money in your cpf oa and sa then pap will transfer the $x to your ra according to the min sum for that year KNN
6. The money in the oa and sa will be rike a risk free bank account so there is no need for you to take any risk doing investment KNN
7. You can spend the money without worrying of no money at old age KNN at 65 you can start to do the monthly withdrawal KNN
Not difficult to achieve this even you are not a high income earner KNN my uncle already sailing at pt 4 waiting to enjoy pt 5 KNN

How to achieve pt1 ? KNN don't buy expensive house KNN
How to achieve pt2 ? KNN do a regular transfer of $ from your oa to sa KNN

 

[sweetiepie]

My uncle also advise sinkie to follow this simple steps to huat using cpf from 55 onwards KNN
1. Pay off your housing mortgage ASAP KNN
2. build the min sum as young as possible KNN
3. After achieving 1 & 2 you will rikely nearing 50 KNN
4. Refund using cash to your cpf for the amount you had used cpf to pay your house KNN
5. At 55 you will see a lot of money in your cpf oa and sa then pap will transfer the $x to your ra according to the min sum for that year KNN
6. The money in the oa and sa will be rike a risk free bank account so there is no need for you to take any risk doing investment KNN
7. You can spend the money without worrying of no money at old age KNN at 65 you can start to do the monthly withdrawal KNN
Not difficult to achieve this even you are not a high income earner KNN my uncle already sailing at pt 4 waiting to enjoy pt 5 KNN

KNN the disclaimer my uncle warn is that pt7 you may need to join my uncle with chopper at cpfb if the withdrawal age becomes a unleesonable age KNN KNN KNN or else this is a perfect leetirement plan without investment risk KNN

 

[Leongsam]

The withdrawal means in moderate amount monthly with most of the capital still compounding interest KNN my uncle think from 60 onwards left not much years to go should not be too particular over yields etc KNN

A good proportion of the population have at least 20 years left at the age of 60. How much would you consider to be the monthly expenses for a retiree in their early 60s?

 

[sweetiepie]

A good proportion of the population have at least 20 years left at the age of 60. How much would you consider to be the monthly expenses for a retiree in their early 60s?

My uncle think the rule of thumb should be the amount they are earning during their working years minus the cpf contribution portion i.e take home pay KNN eg my uncle currently earning $3k taking home $2.4k so his monthly leetirement fund during this 20yrs should be somewhere near 2.4k KNN taking note for now he still need to save an amount out of the 2.4k whereas during leetirement this amount can be spent but also need to cater more for medical expense so is rike a draw game KNN the current frs is still unable to provide this monthly payout so sinkie should either opt for ers or having a buffer amount in their personal bank account or cpf oa or sa for the shortfall KNN

 

[kaninabuchaojibye]

My uncle think the rule of thumb should be the amount they are earning during their working years minus the cpf contribution portion i.e take home pay KNN eg my uncle currently earning $3k taking home $2.4k so his monthly leetirement fund during this 20yrs should be somewhere near 2.4k KNN taking note for now he still need to save an amount out of the 2.4k whereas during leetirement this amount can be spent but also need to cater more for medical expense so is rike a draw game KNN the current frs is still unable to provide this monthly payout so sinkie should either opt for ers or having a buffer amount in their personal bank account or cpf oa or sa for the shortfall KNN

breakfast 4 eggs
lunch 2 eggs
dinner 4 eggs
supper 2 apples
cheap cheap i survive a year on this plan!
of course got exceptions 3 to 4 times a month.

 

[batman1]

She really so free and idle and got nothing to do .Go test her CB ballon.