How To BANKRUPT Your CPF ACCOUNT Before 55 And Not Give To SCUMS To Use

[ahleebabasingaporethief]

FOUND THIS VERY INTERESTING AND USEFUL.

<table id="msgUN" width="100%" border="0" cellpadding="0" cellspacing="3"><tbody><tr><td id="msgUNsubj" valign="top"> PAP n CPF Bankrupt cannot pay up!</td><td id="msgunetc" align="right" nowrap="nowrap"> </td></tr></tbody></table><table class="msgtable" width="96%" cellpadding="0" cellspacing="0"><tbody><tr><td class="msg" valign="top"> <table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead"><td class="msgbfr1" width="1%"> </td><td> <table border="0" cellpadding="0" cellspacing="0"> <tbody><tr class="msghead" valign="top"> <td class="msgF" width="1%" align="right" nowrap="nowrap">From: </td><td class="msgFname" width="68%" nowrap="nowrap">killypap <nobr></nobr> </td><td class="msgDate" width="30%" align="right" nowrap="nowrap">9:23 pm </td></tr> <tr class="msghead"><td class="msgT" width="1%" align="right" height="20" nowrap="nowrap">To: </td><td class="msgTname" width="68%" nowrap="nowrap">ALL <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (1 of 2) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%"> </td><td class="wintiny" align="right" nowrap="nowrap">31022.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt">Five things to note
With the recent CPF changes and the expected changes, there are 5 things that you may need to know before you turn 55.
ONE:
Upon reaching 55, if your CPF Special Account (SA) plus property pledge, is insufficient to meet your CPF Minimum Sum (MS), which is currently $117,000, your CPF Ordinary Account (OA) balance will be transferred to your CPF Retirement Account (RA) to make-up for the MS shortfall.
What this means is that you may no longer be able to use your OA balance to pay for your home mortgage.
So, if you are affected by this policy, use your entire OA balance to re-pay your mortgage before you turn 55.
TWO:
If you plan to downgrade to a smaller flat, the sales proceeds (CPF utilised and accrued interest) of your flat will also be transferred to your RA, if you have a MS shortfall.
What this means is that after setting aside the MS, you may have less available from your flat sale proceeds to pay for your smaller downgrade flat.
So, if you want to downgrade, do it before 55.
THREE:
Upon reaching 55, your OA and SA that is transferred to your RA to meet the MS, can no longer be invested.
So, if you want to invest your OA and SA, do it before 55. (note: first $20,000 of OA and $40,000 of SA cannot be invested.)
FOUR:
For those age 55 and younger from 2013 onwards, CPF Life will be compulsory.
So, if you plan to migrate, give up your Singapore citizenship, and want to withdraw your entire CPF as a lump sum, you should try to do so before 55.
</td></tr> <tr><td> </td></tr> </tbody></table><table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr><td class="msgleft" width="1%"> </td><td class="msgopt" width="24%" nowrap="nowrap"> Options</td><td class="msgrde" width="50%" align="center" nowrap="nowrap"> Reply</td><td class="wintiny" width="25%" align="right" nowrap="nowrap"> </td></tr><tr><td class="msgbfrbot"> </td><td colspan="3"> </td></tr></tbody></table> </td></tr></tbody></table> <!--PostMsgHTML--> <script language="JavaScript"> <!-- if (adPosition == 1){ GA_googleFillSlot("DF_ROS_inline_BTF_1"); } //--> </script> <!--/PostMsgHTML--> <!--PreMsgHTML--> <!--/PreMsgHTML--> <table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead"><td class="msgbfr1" width="1%"> </td><td> <table border="0" cellpadding="0" cellspacing="0"> <tbody><tr class="msghead" valign="top"> <td class="msgF" width="1%" align="right" nowrap="nowrap">From: </td><td class="msgFname" width="68%" nowrap="nowrap">wwwDRAGONwww <nobr></nobr> </td><td class="msgDate" width="30%" align="right" nowrap="nowrap">9:39 pm </td></tr> <tr class="msghead"><td class="msgT" width="1%" align="right" height="20" nowrap="nowrap">To: </td><td class="msgTname" width="68%" nowrap="nowrap">killypap <nobr></nobr> unread</td> <td class="msgNum" align="right" nowrap="nowrap"> (2 of 2) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%"> </td><td class="wintiny" align="right" nowrap="nowrap">31022.2 in reply to 31022.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt">So those 55 and above now, can up lorry.
</td></tr> <tr><td> </td></tr> </tbody></table><table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr><td class="msgleft" width="1%"> </td><td class="msgopt" width="24%" nowrap="nowrap"> Options</td><td class="msgrde" width="50%" align="center" nowrap="nowrap"> Reply</td><td class="wintiny" width="25%" align="right" nowrap="nowrap"> </td></tr><tr><td class="msgbfrbot"> </td><td colspan="3"> </td></tr></tbody></table>​

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[god_zeus]

can u pls flush left
difficult to read
anyway, thanks for the info


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Five things to note
With the recent CPF changes and the expected changes, there are 5 things that you may need to know before you turn 55.
ONE:
Upon reaching 55, if your CPF Special Account (SA) plus property pledge, is insufficient to meet your CPF Minimum Sum (MS), which is currently $117,000, your CPF Ordinary Account (OA) balance will be transferred to your CPF Retirement Account (RA) to make-up for the MS shortfall.
What this means is that you may no longer be able to use your OA balance to pay for your home mortgage.
So, if you are affected by this policy, use your entire OA balance to re-pay your mortgage before you turn 55.
TWO:
If you plan to downgrade to a smaller flat, the sales proceeds (CPF utilised and accrued interest) of your flat will also be transferred to your RA, if you have a MS shortfall.
What this means is that after setting aside the MS, you may have less available from your flat sale proceeds to pay for your smaller downgrade flat.
So, if you want to downgrade, do it before 55.
THREE:
Upon reaching 55, your OA and SA that is transferred to your RA to meet the MS, can no longer be invested.
So, if you want to invest your OA and SA, do it before 55. (note: first $20,000 of OA and $40,000 of SA cannot be invested.)
FOUR:
For those age 55 and younger from 2013 onwards, CPF Life will be compulsory.
So, if you plan to migrate, give up your Singapore citizenship, and want to withdraw your entire CPF as a lump sum, you should try to do so before 55.​

 

[Boliao]

There is one more alternative...

VOTE THE FUCKING PAP OUT!! before you turn 55...

I don't want CPF-Life but the deaf frogs did not respect my choice. They left me no other option but to vote them out!

 

[ahleebabasingaporethief]

There is one more alternative...

VOTE THE FUCKING PAP OUT!! before you turn 55...

I don't want CPF-Life but the deaf frogs does not respect my choice. They left me no other option but to vote them out!

Yours is a reason for most to vote against them. I liken it to ROBBERY.

All my 3 sons cited this as the MAIN REASON to vote against the SCUM in this ERECTIONS. I have nothing to do with their choice to VOTE AGAINST.

They based it on the CPF LIFE robbery issue.

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[Watchman]

Vote them out before our children grow up
without a decent occupation and have to compete with cheap FTs !

 

[Queen Seok Duk]

CPF rules are the most difficult to explain.

Now how is it possible that Special A/C and property pledge cannot meet Minimum Sum @ $117,000 ? Every property is Singapore is worth more than $117,000.