CPF Life Plans

Atobe SG

my advice to forumites here above 55 who intend to sign up for the CPF life plan.....hold on first. Don't be too tempted by the extra bonus of up to $4k if you sign up now. Once u sign the plan, it's a contract for life....there's no opt out unless on medical or citizenship grounds.

The govt seems to be in a hurry to make singaporeans above 55 to sign up for the plan by giving the extra bonuses. In my view, if they really meant to benefit the citizens, why such gimmicks? Why not give the bonuses to all singaporeans?

The government need as many Singaporeans to come onboard their CPF Lifeplan insurance program so that it will reach a critical mass early.

The CPF Lifeplan is the PAP Government's alternative solution of NOT giving a LUMP SUM withdrawal to the CPF account holders.

The CPF Lifeplan is the PAP Government's solution to delay and stretching out the return of the huge CPF savings due to Singaporeans by paying in small quantums and through the years - hoping that the final return of the smaller remaining balance amounts will be spaced as the life of each CPF account holder terminate at different period.

If all the old baby-boomers - born between 1947 through 1968 - should retire at about the same time and withdraw their CPF savings at about the same period, the surge of withdrawals will simply bankrupt the CPF.

This is the logical outcome when the CPF contributions tapered to lesser volumes through the succeeding years, when the success of LKY's Family Planning program begin to kick in and its effects began to be felt twenty years later from 1980s onward.

By the 1980s, the CPF Time Bomb was already obvious with the Howe Yoon Chong Commission being set up to study the entire CPF system; and by 1984 - his report began the consistent cycles of PAP continuously tinkering with the withdrawal age that was original guaranteed at the retirement age of 55 years.

Atobe SG

My humble Uncle, u get me wrong,

Last time, you can withdraw all your CPF by 62yo, most will spend and write deeds for his/her decendents, today, you cannot withdraw all, they pay you month by month, the more you withdraw, the less your decendents take when you pass away, and if you opts for th 4th plan, which provide no return, i think with today youngsters mind, they will leave their old man rot till death without even bother to take care of him....on the other hand, if the old man opted for less monthly payout and more return upon death, i think his decendents will make him die faster...so you get the picture?? family problem hor

Only a useless "hum" will hope and take advantage of its ignorant parents, and wish that they will die faster.

Does a ignorant "hum" know what family life is about when it leads a useless solitary life inside a shell and without the company of its brain that has to be left outside the tiny shell ?

You should "talk cock and sing song" at your bar, and stop spreading your ignorance in this Speaker's Corner with your contradictions :

"I dun see anything wrong with CPF lifeplan, it is good, however, i see a family social problem in adopting the plans".

Only a foolish "hum" will "see nothing wrong" even when a program will have negative effects to produce "family social problems".

angel7030 SG

CPF life span is to acknowledge few key social issue facing singaporeans,

1. old age and longer life

2. old age poor financial planing leading to adultery social spending

3. guarantee of income for the entire life

4. medical protection for the whole life

5. independency from unfaithful childrens

Atobe SG

CPF life span is to acknowledge few key social issue facing singaporeans,

1. old age and longer life

2. old age poor financial planing leading to adultery social spending

3. guarantee of income for the entire life

4. medical protection for the whole life

5. independency from unfaithful childrens

Are these social issues, or are they issues of the Old in Singapore ?

These issues could have been solved if the sum of US$100 BILLION was not lost by the irresponsible acts by GIC and Temasek Holdings.

That US$100 BILLION could have been the Trust Fund to pay for all the premiums that would have been deducted from the account holders to make the CPF Lifeplan become a reality to benefit Singaporeans.

Even in early 2009, the PAP Government had received the approval from the Elected President to withdraw S$4.5 BILLION - from the Singapore Reserves - to pay all Singapore Employers to protect the jobs in Singapore.

Who do you think is the beneficiary, when the GLC is the biggest employer in Singapore ?

Did any Singapore Small and Medium Sized employers received any benefits in any significant sums from this amount of S$4.5 BILLION ?

Inspite of being paid S$4.5 BILLION withdrawn from the Reserves and paid to the employers, we still hear from the PAP ministers that by year end, Singaporeans should be prepared for another 100,000 to be retrenched.

Why was that S$4.5 BILLION from the Singapore Reserves not used to kick-off the CPF Lifeplant for Singaporeans ?

Only a useless ignorant Taiwanese "hum" will continue to spread the PAP propaganda as condition of Singapore Citizenship.

GHoST_18 SG

our social issue is too many "angel like" people who are not singaporeans in singapore...

angel7030 SG

our social issue is too many "angel like" people who are not singaporeans in singapore...

hahahaha..hehehe...of all the so called intellectual old goondos here, you are the most brilliant..hehehe

angel7030 SG

Are these social issues, or are they issues of the Old in Singapore ?

These issues could have been solved if the sum of US$100 BILLION was not lost by the irresponsible acts by GIC and Temasek Holdings.

Who do you think is the beneficiary, when the GLC is the biggest employer in Singapore ?

Did any Singapore Small and Medium Sized employers received any benefits in any significant sums from this amount of S$4.5 BILLION ?

Why was that S$4.5 BILLION from the Singapore Reserves not used to kick-off the CPF Lifeplant for Singaporeans ?

Only a useless ignorant Taiwanese "hum" will continue to spread the PAP propaganda as condition of Singapore Citizenship.

what old issue, why alway link our CPF to temasek and all those losses, CPF lifeplan was created long before this crisis took place, i was in SIM doing HR when i am invited for a talk at DBS auditorium, as my frens need company, and i am always the funny and jovious one, they beg for my company, so i tack along, that was in the end of 2007, and my gosh, that then MOM minister Dr Ng, already spend out the blueprint for us to consider. So dun think that this plan got anything to link with any lost ya, and even so, it is not involved in any sense.

Our medical tech is advancing, people are living longer, you need a plan to sustain a longer life, it is not that CPF is unable to fulfil their obligation to you, till now, nobody is deny any full withdrawal when the time arrive, you got trust your pension system, CPF had serve us well thru all these years of prosperity and nation building, and as the world changed, we got to change to adapt, our system cannot remain the same when people are living longer, financial investment are no longer that secure and of course, with advance sex enhance medication, lust is on the increase.

alancia SG

our social issue is too many "angel like" people who are not singaporeans in singapore...

more accurate statment should be prostituties who pretent to be angel

alancia SG

For me i dun contribute to CPF

ya we know that prostitute don't need to contribute to cpf

Fantagf SG

more accurate statment should be prostituties who pretent to be angel

hahahah, good one! ROFL!

Atobe SG

If you are a Taiwanese "hum" and have a desire to be a real "Singaporea citizen" you should start familiarising with "old issues" as to what belong to the Citizens.

If you do not understand what has been clearly written, can you hope to be a Singaporean ?

Thank God that you are invited NOT to talk at the DBS auditorium, as your ignorance will surely pollute the minds of your young Singaporean friends who must have been unaware of your Taiwanese ignorance.

Do you think that a small time MOM Minister know anything about what the PM's husband is doing at Temasek ?

When Dhanabalan can be slapped by LHL - you must be a real dumb "hum" to think that the PM's husband activities must be informed to all the other Ministers.

From what you have written, you are as lost in your own reply as you are lost inside the "nutshell" that a stupid "hum" has taken over for a home.

Did the PAP Government tell you all the crap that a dumb "hum" has decided to process and then spread the same in the "bubbles of ignorance" from the useless life form of a "hum" in a "nutshell" ?

Was that part of the terms and conditions for your application to be a Singapore Citizen ?

How many hours of your time must be spent to listen to the PAP crap before you are given the Citizenship Certificate - and were you tested for the accuracy in your parrot like interpretation of the crap fed to you ?

With the amount of crap loaded into the flip-flop brain of a "hum" - it is not a surprise that your attention will wander into a favorite subject of a a horny "hum" - who will move from financial insecurity to sex enhancement that increase the lust.

Obviously we can accept that you will doubtfully complain it will boost your business.

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