Mr Tan, a 68-year-old retiree, wrote to SDP’s Bryan Lim Boon Heng last week about not being able to use his Medisave for a simple tooth filling procedure. CHAS subsidized $35 but he still had to pay $72 out of pocket. “For a tooth cavity repair, I am not allowed …
Read More »Tag Archives: retirement
GE2020: Sudden Resignation By Three PAP Ex-Heavyweights
Even as Singapore's political parties are preparing for GE2020, three People's Action Party (PAP) members announced their resignation with less than a week to Nomination Day (30 June). The three ex-heavyweights millionaires are Yaacob Ibrahim, Goh Chok Tong and Khaw Boon Wan, who were all once Cabinet Ministers. As these men bid farewell to politics, let us remember them for some of their more memorable quotes.
Read More »SDP: Current PAP Has Turned CPF Into A Nightmare For Sinkies
SDP said in a strongly worded statement that “The current system manipulated by the present generation of PAP leaders have turned the scheme into a nightmare for Singaporeans, and Clifford Theseira’s case highlights the problems”. SDP also questioned the PAP's continued claims that citizens will squander their CPF savings and would turn to the government for help, stating that there are no data provided to back up these claims. SDP indicated that many Singaporeans are being penalised for the actions of a few.
Read More »CPF CHANGES: EASIER TO TRANSFER $ TO ELDERS NOW BUT DO WE HAVE ENOUGH FOR OURSELVES?
Will we have enough for our own retirement if CPF lowers the prerequisite for us to make more transfers to our parents/grandparents?
Read More »THINK YOU’RE GETTING 4% ON YOUR WHOLE CPF FUND? THINK AGAIN
I refer to the article “CPF extends 4% interest rate until end of next year” (Straits Times, Sep 23).
Read More »CPF ASKING RETIREES TO ACCEPT PAYOUTS FROM AGE 70?
After I wrote “CPF: “No action is required if you wish to start your payouts at age 70”?” (Sep 7) – one of my schoolmates from Raffles Institution called me to ask about a similar letter which his wife has just received – saying that she would receive $910 monthly from age 64, for 24 years – but that she would have to opt for it at cpf.gov.sg (no specific link address).
Read More »S’POREANS NEED 29 YEARS TO DOUBLE THEIR CPF OA ACCOUNT, ONE OF THE LOWEST RATES IN THE WORLD?
With the interest rate of the CPF Ordinary Account having remained at just 2.5 per cent since 1999 – using the same calculation (rule of 72) in the remarks of the subject news report – it would take about 29 years (72 divided by 2.5) for your CPF OA money to double.
Read More »BUYING A HDB FLAT IN S’PORE: SMART OR STUPID DECISION?
If you are buying arguably, one of the most expensive public housing (ratio of price to net income) in the world … If you may be putting a lot of your savings for retirement into your flat – leaving you with insufficient funds for retirement … If your flat’s value starts to decline when potential buyers perceive that it may be too old … If at the end of the day (99 years lease) – your flat may become worthless … Do you think you are “smart” or “stupid”?
Read More »IS SELLING OF ONE’S HDB FLAT A GOOD WAY TO RETIRE & ENJOY LIFE?
So, in summary – does “A HDB flat is a “good store of asset value” for those who plan ahead and make prudent housing decisions”, arguably mean that one has either to downgrade to a tiny 2-room flat (assuming one is able to pay the resale levy) or give up the future equity and value of one’s flat in exchange for a lease of say 30 years and some money into one’s CPF?
Read More »PAP MINISTER LAWRENCE WONG TRIES TO CONVINCE S’POREANS HDB SHOULD BE SOLD FOR RETIREMENT NEEDS
My last blog on choosing a HDB resale flat generated some discussion and debate. Let me share some additional perspectives. HDB flats, like many private properties, are sold on a 99-year lease. They provide a good store of asset value, so long as you plan ahead, and make prudent housing decisions. The general point is that your HDB leasehold flat is not only a good home, but also a nest-egg for future retirement needs.
Read More »