kindly check 1st world countries involved.

Thank you.

You can search Google for CPF Life. It shows you the FAQs and calculators provided by CPF. You should be able to get the information that you need there:

https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/li/li_calc.asp

https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/li/li_calc.asp

You can pass on the capital sum to your family on early death by selecting the “capital return” type of annuity. It pays a lower amount compared to the “no return” annuity. There is a wide range of choice.,

I have not been bothered in the past about CPF rules as regards retirement withdrawal as I still have a long long way to go and I apparently have no control as long as the present government still reigns.

Could you please let me know about this annuity thing than we must have. Say if I were to pass on before 85, would whatever premium (plus interest, if any) that I have paid for the annuity be returned to any of my appointed family member.

Your posting is well written. I agree with most of your points, particularly on:

> need to reduce the cost of public transport
> increase cost of car ownership, rather than make it expensive to use (ERP charges)
> priority in schools and jobs for Singaporeans, before giving to foreigners
> new measures to improve the birth rate (i.e the old measures did not work)

I wish to make a correction on your point regarding the delay in withdrawal of CPF savings to age 85. This applies only to one part of the savings (which is used to buy the CPF Life annuity). The remainder of the CPF minimum sum can be withdrawn from age 65 to 85. The savings outside of the CPF minimum sum can be withdrawn at age 55.

In effect, the CPF savings is split into three portions to be withdrawn at separate ages.

1. Those who did not contribute to CPF as they were self employed or earned low wages.

2. Those who used nearly all of their CPF savings to buy the first and second HDB flat (i.e. upgrading).

The problem is compounded by the low interest rate paid on CPF savings, and worse, by the losses when they made the wrong investments using their CPF savings (i.e. due to the high charges and bad investments).

During the past 10 years, the Government has introduced some restrictions on the use of CPF savings for propoerty purchase. This will ensure that there is sufficient savings for retirement. The interest rate has also been increased, i.e. the additional bonus.

More needs to be done. There was once, some consideration of a low cost “Private Pension Fund”. This should be introduced, to give a better return on the CPF savings. It should be handed by the CPF directly, and not by the private sector (which aims to make an excessive profit from the investors).

These changes may solve the problem for the future. In the meantime, we have old people that have insufficient savings. Perhaps they should come under the Public Assistance Scheme (and be given $300 plus per month). They can continue to work to supplement this income. Dignified work is good to keep a person healthy in mind and body.

And then now everyone is told to buy insurance?
=.=”’

That’s just one side of the coin. Sure, we’re in a realist pond, but you never mix foreign policy wholesale with domestic politics.

Period.

Upon reading much news from the media and the Internet, I discovered that the policies which the First World government had implemented were actually wrong. Taking the recent inclusion of new ERP gantries for example, Transport Minister Raymond Lim said that increasing ERP rates as well as setting up more gantries is meant to encourage more people to take public transport. I would like to highlight one important point that this statement has been made for so many years YET we don’t really see an improvement in traffic congestion. As usual, road users continue to use the roads during peak hours. With the lowering of COE and road taxes, they only serve to allow people to buy cars more easily, but more expensive to drive them on the roads. In addition, bus fare and MRT fare hikes in the face of more ERP gantries do not make any sense at all because if the First World government really mean to encourage more public transport usage, by right they should lower the fares, but they went ‘by left’ and increased it instead. What amused me is that since the demand for public transport is already very high (One SMRT poster mentioned 2 million commuters), raising fares has no logic at all because it will only put off commuters. Both driving cars and taking public transport are expensive, so the First World government is not doing the right thing.

The CPF issue of delaying the minimum withdrawal age from 67 to 85 was a topic hotly debated both in Parliament as well as the public domains back in end-2007. Under the new scheme, people who opted to withdraw their CPF savings at a later age will get to enjoy the benefits in the form of higher interest rates. The problem is: how many Singaporeans can live till 85 and still be as active as what the First World government claims to be? Government sources indicate 1 out of 2 Singaporeans can live beyond 85 and this is a very big question mark, rejected by me. SM Goh Chok Tong once mentioned that if given two scenarios – either work while you healthy then withdraw CPF later OR withdraw CPF early but risk insufficient retirement funds – he will choose the former. I’m also puzzled by this statement because I believe that everyone has a right to enjoy good life using the savings he/she has accumulated over years of hard work, rather than not enjoying life, slogging work all the time and then use the money only for medical bills in later years. Of these two, the first one seems more humane than the second one. Any rational being may agree with me.

The last thing I will like to highlight before I end my response is the issue of attracting foreign talents. Singapore is a small country with no natural resources, so I do agree with the idea of attracting foreign talents, but not to the extent of employing them ALL THE TIME and EVERYWHERE as Singapore itself does have a pool of local talents, though small and ‘not very valued’ by the First World government. The reason for being human resource limited is linked to falling birth rates, which is, in my opinion, totally wrecked by the First World government. PM Lee Hsien Loong mentioned Baby Bonus Schemes of a few thousands of dollars for every certain number of babies born. I want to remind everyone that in order to raise a child from a baby to at least age 21 is definitely more expensive than a few thousands of dollars which is actually very small. Back to issue, local talents should be preferred over foreign talents, not because they should be highly paid than the foreign talents, but because of loyalty to nation. In schools, for example, the number of foreign students is increasing and because they are bonded by government scholarships, they are guaranteed jobs while most local students aren’t. In this case, my answer is that they come here to occupy our places in education and then occupy our jobs in the working world. I as a Singaporean NSman, am obliged to protect this country in times of war but is not given any assurance of occupying at least a decent highly-paid job in my own country because the First World government prefers foreign talents over local talents.

With this, I end my response. Hopefully no one sues me because of what I said. :) Just my feeling lar…

Be like the frog that gets out from the well and you will realize the sky of opportunities everywhere. Just need to have the guts to take that step. The secret is you need perserverance and tenacity to emigrate.

Australia or New Zealand:

- The bottomline is to obtain a skill that they need and plus the related experience your chances of getting a work permit first may be high.

- After attaining the relevant skill, keep on applying for a job until an employer is willing to employ you especially when there is a skill shortage. The employer will then apply, on your behalf, for a work permit and you can subsequently apply for PR after working in the country for sometime.

- I think that is the one of the best ways to emigrate since the immigration policies of these two countries have been more stringent in the last few years.

- Acquire the skills that the country wants and switch to that trade if you want to increase your chances. Tradesmen like: plumbers, electricians, chef, car mechanics, florists, nurses, midwives, IT technicians.etc, are badly needed. I do not include the other professional occupations.

- After working for a number of years then apply for PR. After a few more years as a PR, you will then be eligible to apply for citizenship of that country. Then you have to decide whether or not to give up Singapore citizenship. At this very point when you officially give up Spore Citisnship, YOU CAN WITHDRAW ALL YOUR MONEY FROM THE CPF. AND MAKE SURE AFTER YOU HAVE WITHDRAWN EVERY CENT, YOU DONT COME BACK. OTHERWISE, THE GOVERNMENT WILL HUMILIATE YOU TO MAKE YOU TO PAY INTEREST IF YOU WANT TO REVERT. SOME HAVE MADE U-TURNS AND THEY COULD NOT GET BACK THEIR SINGAPORE CITIZENSHIPS. SO THINK VERY CAREFULLY AS THE CHOICE IS ENTIRELY YOUR OWN.

- On a personal note, I have come across many Singaporeans who gave up their citizenship and withdrew their CPF and use the monies to purchase properties overseas. Majority have no regret emigrating but there were some who would still go back to Spore because they lacked the fighting and tenancious spirit like the Chinese nationals, Vietnamese, Koreans or Japanese for that matter.

You can find tons of information in the website.

Hope that helps – SAD.

Comments edited by moderator for vulgarities.

While we, is of disadvantaged position where we are a red dot among vast green pastures that have a kinda high and low level of hostility and co-operation.

In our textbook,since young and in school all of us are taught that only hardwork and endurance are essential for ‘US’ in the real world to survive.

we were educate since stepping on the working reality zone to fend ourselves.We cannot sit back and relax on a welfare couch as what have been told on and off for the past years.I still remembered there’s a time when SM Goh was being interviewed,he touch upon the issue of an opposition,Mr JB Jeyeratnam-his vision for s’pore.In the interview,he stated that if Govt go for a welfare state,needles to say it will be the end of s’pore as we are not Brunei/Saudi Arabia and oil rich country.

So am saying did u get a point what he is trying to drive at?

In the first place,I was a bit confused but after second thoughts i began to realize the seriousness of it.

That is why we got to slouch till to this day.