<TABLE border=0 cellSpacing=0 width="100%"><TBODY><TR><TD><SCRIPT language=javascript> readCookieVbb()</SCRIPT><TABLE id=story_comments border=0 cellSpacing=0 width="100%"><TBODY><TR id=comments_body><TD><TABLE border=0 cellSpacing=0 width="100%"><TBODY><TR><TD class=heading>Latest comments</TD></TR><TR><TD id=messageDisplayRegion width="100%"><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>Hi,
Just to share with you guys. 4 years ago, my colleague told me the best way to earn 4% of returns without any risk was to transferred funds from the ordinary account to the special account. I advised him not to as the funds could not be reversed back. But he didn't heed my advice.
Last year he told me his decision was a blunder as he could not withdraw half the amount at 55 but to leave a minimum sum of 100k and get monthly payout at 65. He asked whether he could transfer the funds back to where it belonged since the condition suddenly changed. I told him fat hope!
Very soon, the Speaker corner will have another rally but not regarding Lehman issue!
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: mingsuny at Tue Oct 27 14:25:59 SGT 2009
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=AlternatePost cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>My relative was also mistaken by putting in cash to top up his CPF Minimum sum to the current minimum sum, thinking that he will have a larger monthly payout when he reached 64 (born in 52).. Instead, the cash amt only extends the payout period., not the monthly payout. It is not clearly stated so.
The original payout amt will last for 20 years. How many of us can live beyond 84? Now he is wondering whether the excess will be returned to his kins when he dies.
It is indeed a trick. Why can't the same minimum amt gives the same monthly payout to Singaporeans? Many people who top up with cash have understood it differently, by logic.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: popopop98 at Tue Oct 27 13:06:10 SGT 2009
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>Hi,
We cannot just look at CPF Minimum Sum alone to evaluate our government policy. We will to look at the other three related CPF issues : the CPF top-up, the CPF Life and the CPF Housing withdrawal limit then we will have a clearer picture what is actually going on.
When the CPF Life was intorduced, did the government ever promise there will be a regular fixed payout every month? Now what happens? The legislation has been passed to say the payout will be variable. What does it imply? Who knows, may be you will be getting peanuts every month!
After that, those who have got not enough money inside the CPF account, they urge the sons/daughters or the relatives to top up for you. Where will the money go to? Only God Knows!
For our generation, why do we have to choose a plan by 50 but yet the payout will only start at 65? What if anything happens to us before 65?
I bought my property in 2001, why should the CPF withdrawal limit apply to me when I refinanced my property in 2005? Did they make known to me before I refinanced? If I didn't check with the CPF board, I wouldn't have realised about this. Either they are too naive to differentiate between selling a property or refinace an existing property.
All these only lead to one conclusion, all our money will be with the CPF board and please don't expect to retire early or at all!
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: mingsuny at Tue Oct 27 11:36:32 SGT 2009
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