Read more at https://www.channelnewsasia.com/news/singapore/cpf-6-in-10-tap-into-funds-at-55-study-10660010
(Updated: )
Foong Mun Loh
only 6 out of 10 withdrew money............might as well say the other 4 decided to forfeit their CPF money
Ricky Lim
Sometimes think that you are talking nonsense all the time without thinking.
Many do not want to withdraw after 55 years old - because the CPF interest earned is much higher than bank saving interest.
Simple reason.
If people feel there is a need to withdraw, people will do it - not your nonsensical rhetoric.
Many do not want to withdraw after 55 years old - because the CPF interest earned is much higher than bank saving interest.
Simple reason.
If people feel there is a need to withdraw, people will do it - not your nonsensical rhetoric.
Like · Reply · 1m
Tokay OH
The study should be by cohorts rather than a group of CPF members aged between 55 and 70. It would be very unlikely that a member aged 65 or above has not made any withdrawal from CPF.
It would be interesting to know the proportion of CPF members making withdrawals upon turning 55.
It would be interesting to know the proportion of CPF members making withdrawals upon turning 55.
Justice Boa
The survey show that CPF is a failed system, because it return don't have the inflation elements, unlike Japan pension fund. What can $33K buy in today context?
Should allow the citizens to withdraw at least 80% of the CPF saving at 55, anyway is their $. If they invested in stock & property their withdraw return will be 4 times at 10% instead of 2.5% annually in the OA, that is $132K. In 20 years, the $33k will be only $15K with inflations. It apply to the Retirment Sums, which have greater effect with larger sums. Sad. Sigh......
Can CPF show us the detail breakdown of how many people can meet the Basic, Full & Enhanced Retirement Sum? Can Singaporeans survive with the maximum CPF monthly withdrawal of $1900 in 20 years time, it will only be $1000? No.
Should allow the citizens to withdraw at least 80% of the CPF saving at 55, anyway is their $. If they invested in stock & property their withdraw return will be 4 times at 10% instead of 2.5% annually in the OA, that is $132K. In 20 years, the $33k will be only $15K with inflations. It apply to the Retirment Sums, which have greater effect with larger sums. Sad. Sigh......
Can CPF show us the detail breakdown of how many people can meet the Basic, Full & Enhanced Retirement Sum? Can Singaporeans survive with the maximum CPF monthly withdrawal of $1900 in 20 years time, it will only be $1000? No.
Ricky Lim
Justice Boa - If they invested in stock & property their withdraw return will be 4 times at 10% instead of 2.5% annually in the OA.
Very interesting statement.
(1) Wonder how many people get their money burn by investing in stock?
(2) Your claim that CPF not enough - can buy property?
Very interesting statement.
(1) Wonder how many people get their money burn by investing in stock?
(2) Your claim that CPF not enough - can buy property?
Like · Reply · 1m
Ricky Lim
it’s widely known that the majority of CPF members who invested under the CPF Investment Scheme (CPFIS) made less money than they would have received had they simply left their CPF monies alone and earned the prevailing CPF interest rate.
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Lokeman Tasref
Ricky Lim i agree with you. Alot already got burned by this cpis scheme.
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