CPF Payout At The Age of 80?!!

last SG · 2008-02-01T13:43:13+00:00

You all must look beyond your personal gains. For the greater good and well being of future singaporeans and the future of Singapore!Your sons and grandsons....

the Bear SG

That is because they think we are stupid because we do not protest anymore...

are we stupid?

or does he think we're stupid?

there is a difference...

66.6% from over 75% says a lot..

and if falls to around 50%, it'll say even more...

as citizens, we do what we have to do... and sometimes, it means forgoing crap like "upgrading" and whatever cosmetic things..

time to remind them that Ministers are named that because they minister to the people... which is to give service, care, or aid; attend, as to wants or necessities..

Shotgun SG

This is just wrong.

Put aside all this garbage of about longevity insurance. What is the purpose of having CPF in the first place?

Its more important that people be able to access the CPF funds after they retire at the age of 65, otherwise, what would they do til the age of 80? People who live beyond 85 should have their living expenses PAID FOR by the government. That much is owed to them for contributing to the economy.

Do we really want a situation where there are there are old folks starving on $300 a month (@ unknown inflation rates), with just $20 in their bank account, and tens of thousand of dollars "tucked" away in their CPF? These proposals are getting ridiculous. Based on supposed "public opinion." Did any of you guys get interviewed for your opinions about this? Who are they getting "feedback" from?

elindra SG

This is just wrong.

Put aside all this garbage of about longevity insurance. What is the purpose of having CPF in the first place?

No one got interviewed

Most probably information from their boot polishers

InnoHippo SG

No one got interviewed

Most probably information from their boot polishers

maybe they interviewed the high-income FTs

Fatum SG

I was reading this article in the straits times while eating my morning prata (kosongs now, due to inflation) ....

there's this funny article about a study conducted by a goverment group about singkies' longeivity, health care needs etc .....

"study aims to show need for annuities scheme" .....

I was like ... "" ... but hey ! it's a typical goverment high level committee .... you get what you want to read ....

mistyblue SG

the conclusion i know of is that I will not see my hard earn money

Fatum SG

but as I stated last night .... I'm not going to spoilt my votes now .... if the powers that be thinks 66.6% is a heaven mandate, then I'll do my part to make it 55.% ... I'd help vote in a few clowns into parliament, since we're being treated like slow kids anyways .... it'll be entertaining at the very least ...

mistyblue SG

I didn't like the way that it was put across by those in power that Singaporeans do not know how to manage their finance and therefore needed someone to decide where and how we should keep out money safe and therefore it is right to take our money away and keep it away.

kramnave SG

isn't this the annuity thingy rather than CPF ?

Fatum SG

double

fudgester SG

Hell, that's what I'd do the next time round. Since 66.6% is a strong mandate to them, I'd give them a couple of clowns to go out on man dates with.

But then again, since I live in Marine Parade, the odds of my getting the chance to vote would be..... negligible.

mistyblue SG

If anyone of you think you will have a chance to vote... think again... for many of us. The last election was the 1st time in our long lives that we ever got to vote.

pwnz0r SG

erm guys... this 80 year old thing is not your CPF savings. its a separate longevity annnuity scheme.

im not saving i like it or approve of it, but its not as crazy as what you guys are saying here. we still get our CPF monies at our retirement age, whatever the hell they want to increase it to. 60 years now right?

dumbdumb! SG

what happens to our cpf after we die?

mistyblue SG

Die liao.... will not come to you loh...

HyuugaNeji SG

what happened to the money if a person dies before he withdraws any cpf money? Are the money transferred to his wife, sons and daughters?

meltz SG

so we wont see our CPF $$$

798 SG

alot of pple here can tell u if it wasnt for their walkover area, they would have voted for opposition.

but when they have the chance to do so, they screw their vote like the Bear.

Meia Gisborn SG

What? And risk having the Old Man send in the troops to "correct" the "freak" results of an election?

Better just vote for the incumbents and not rock the boat, lah!

Fatum SG

erm guys... this 80 year old thing is not your CPF savings. its a separate longevity annnuity scheme.

that's not the point, the point is that we are being asked to foot the cost of social security policies and more to the point, we are being asked to contributed to an ever widening liquidity pool from which only one in two of us would ever benefit, and in a very limited way too ..... the goverment has always been dismissive about "egalitarian" ideals ..... that's why we have the CPF ... you earn more, you have more money to enjoy when you retire .... but of course, with CPF, you get your money back after a certain age ... I can only guess at the utility of a huge pool of money from which half of the participants can only contributes towards, but is unlikely to ever enjoy any of it (get what i'm trying to say ? )... when you join the pool ... what you put in ceases to become yours ... when you die, that's it ... the money doesn't go back to your descendants .... ....

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