Making a big hoo haa over $22.50 or less

[SNAblog]

http://www.salary.sg/2010/cpf-restored-22-50-more-in-medisave-account/

The government has announced that the employer CPF contribution rate will be increased by 1%.

From 1st September this year, your employer will pay an additional 0.5% to your Medisave Account. If you earn more than $4,500, you will get exactly $22.50 more. This is because CPF contributions are calculated based on the cap of $4,500.

However, if you already have $37,000 in your Medisave Account, the excess will be transferred to your Special Account. See CPF Medisave Contribution Ceiling. Note that this ceiling was $33,500 in 2007.

The remaining 0.5% increase will go to your Special Account starting 1st March next year.

When did you first hit the prevailing Medisave Contribution Ceiling?gl

 

[tonychat]

Only sinkies will think that cpf is their asset, why the thinking so simple and innocent?

 

[Watchman]

1 percent CPF is a joke !

 

[cooleo]

Then they will justify 1% CPF increase with a 1% GST hike. That will really screw us all!

 

[Watchman]

Then they will justify 1% CPF increase with a 1% GST hike. That will really screw us all!

Which is more ridiculous ? The CPF increase or the GST increase .

The GST of 7% on all items everything and everyday for the month .

The CPF of 1% increase only every end of the month .

 

[Jabba]

but...but..but...the GST is to help the pooooooorrrrrr....

 

[Frankiestine]

1 percent CPF is a joke !

Its a joke to us but no joke to the scums cos just 1 percent increase contribution from the employers for all CPF members is hell lots of money for them to dig their dirty hands into.

 

[VeryWise]

Let say on average, the contribution of each person is half of that amount, we still have 11.25 per person. Assume the working population to be 2 million, CPF will have an extra 22.5mil a month. This is a conservative number. Now, that's a very easy way to "raise" taxes if you know what I mean.

 

[jw5]

Our fellow singaporeans especially those among the 66.6% are well known for failing to see the woods for the trees and being penny wise pound foolish and being induced by silly little presents given to them before elections.
That's why I have really lost respect for these people.

 

[jw5]

as long as peasants are poor, the gabramen can control you!

It's not because they are poor that the government can control them, it's because they are scared.
Kia see, kia boh, kia soo, kia cheng hu, kia bor.

 

[halsey02]

It's not because they are poor that the government can control them, it's because they are scared.
Kia see, kia boh, kia soo, kia cheng hu, kia bor.

Many of these are the 'brother, got rokok or not' people...who mostly depend on the MIW's for their daily roti. They have no choice but to vote for them. Then, there are others, who I can never, ever will understand, who will curse, swear & complain; but each election, they will vote for the People's Affordable Party, plus those you have mentioned. All these and more constitute the 66.6%.:p

 

[KuanTi01]

The Hokkiens say $1 bigger than a bullock cart wheel!Knn, 1% restoration only and they make it sound like it's some god-given goodie. Must I use joss-sticks to give thanks or not! Simply unbelievable.:oIo:

 

[Boliao]

Most people here caught the fact that you will not see that 1% since it is going to medi and SA. What most did not realize (and TOC and TR both caught) is that our government is advising employers to take this 1% into consideration during their compensation reviews... meaning, if you are expected to have a pay rise, it will be 1% less. If you're not, you will probably get a 1% reduction.

So basically, this is zero impact to employers but once again, the government is taking money from the people and locking it away.

I would rather not have this 1% increment.

 

[jw5]

Many of these are the 'brother, got rokok or not' people...who mostly depend on the MIW's for their daily roti. They have no choice but to vote for them. Then, there are others, who I can never, ever will understand, who will curse, swear & complain; but each election, they will vote for the People's Affordable Party, plus those you have mentioned. All these and more constitute the 66.6%.:p

The first lot, I can understand. Businessmen, civil servants, grassroot leaders, etc.
The second lot, I am bemused by them. Includes some beggars, unemployed, elderly retirees, people working for mncs, independent contractors, professionals, taxi drivers, many of whom are struggling with life. But still continue to vote pappy. Really cannot understand.