Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you die

[HedgeTrader]

Re: Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you

"Your concern is very real, sikali also extended to cover normal account for roadrunners"

This sure will happen, only don't know when. Worst case senario, will delay payment of CPF of those who renounce their citizenships to discourage those intend to renounce.

Maybe if you renounce there's new scheme to transfer your CPF into Runroader Account. Come back get it at age 85 if you still alive LOL

 

[chonburifc]

Re: Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you

The people that I knew had worked & lived overseas. Quite a number had studied overseas & knew that it was better to live abroad. So it was easy for them to make the move since they already have friends overseas. However most of them emigrated to 1st world countries so citizenship is not a problem. You can become a citizen after staying for 5 years.

One of them who is now an Australian still comes back for a yearly holiday to see his parents. He told me that when people find out about his story, that he is now an Australian, they are happy for him because he escaped The most common question I was asked when I 1st returned to Spore was why? I returned

Right now I have to decide if I want to retire in LOS or in some 1st world country & get my CPF. It is very complicated to be a Sporean

Both 1st world and 3rd world countries are fine as long as you like the place. LOS (anywhere except the 3 southern province) is a good place to retire. Personally, I prefer a little less developed place, towns and villages. BKK is a little too stressful for me with the traffic and air. For the younger runroaders, BKK might be a nice place to start as easier to find jobs compared to other provinces.

On CPF withdrawal, might have to treat this as money gone. One thing want to find out about CPF is can have the CPF nominees in foreign name.

 

[johnny333]

Re: Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you

On CPF withdrawal, might have to treat this as money gone. One thing want to find out about CPF is can have the CPF nominees in foreign name.

I'm one of those who believe that the CPF system is bankrupt. :o

Even though I lost quite alot of $$ during this recession, I've still got enough savings left over for a modest life-style in Canada or LOS

 

[chonburifc]

Re: Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you

johnny333, good news is for modest life-style in Canada, it will be lavish lifestyle in LOS.

 

[HedgeTrader]

Re: Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you

On CPF withdrawal, might have to treat this as money gone. One thing want to find out about CPF is can have the CPF nominees in foreign name.

My question is cross nomination. Let's say I got married nominates my wife. My wife nominates me back. If we die 2gather e.g. on same car or plane accident, where all our CPF money go?

 

[chonburifc]

Re: Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you

My question is cross nomination. Let's say I got married nominates my wife. My wife nominates me back. If we die 2gather e.g. on same car or plane accident, where all our CPF money go?

Do correct me if I am wrong. I think goes to next of kin from both sides, if no next of kin from both sides, go to public trustee. Public trustee is something I still don't really understand. The CPF has so many rules that it will take so many man-years to understand all these ever-changing rules.

 

[chonburifc]

Re: Why your CPF beneficiaries & THEIR beneficiaries may never get your CPF when you

"Imo, those who said you crazy, I trust they said it for one reason or another. But if comes from those who never really lived overseas for an extended period, but on work attachments or vactions, then I wouldn't put much weight on their opinions. For those who had experiences living overseas, its just a matter of personal preferences and choices in what one wants in life, like I said in first para"

Those that say I crazy do come with good intentions and concern. They are worry about the uncertainties and risks. In their mind, why I quit a stable and reasonable paying job to run road and face the uncertainties in a foreign country?? Most of them are very used to the predictable lifestyle in SG. Eg. Stay in HDB/Condos, drive a japanese/europe car, with wife and kids, go for holidays few times a year, have a reasonable job and hoping for big bonus at end of year.

Yes, if there is a reason for renouncing citizenship, the only reason is to withdraw the CPF. Not a matter of I need the money or not. It's a matter of principle, CPF is my money and not the government's money. And if the government fear that those who withdraw the CPF to squander it away, then it is their problem.

And if Singaporeans cannot managed their own money, then something is wrong with our education. Remember in the old days, we are taught to save money for raining days. Now, I keep receiving phone calls even in LOS to sign up for credit cards. Even the last trip to SG, saw so many Credit Card booths promoting credit cards. Government on one hand, worry retirees cannot look after own money, on the otherhand, allows so many banks to issue credit card. I think by now, even toilet cleaners can also own credit cards.
Sorry for the side track on credit cards, I just know too many people who are in deep shit because of credit cards.