[News] CPF minimum sum $155000 from july 2014
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buck up, work hard, will succeed
and never say never
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Playing *Justin Bieber -never say never*
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Care.
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How much?
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Minimum sum to stop increasing?
Is it true?
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Which caculator you use ?
I use the official website.one. only get like $ 800 per month if I die broke (standard option) at full minimum sum.
Why so low. $800 can buy what?
Give me back my money lah. Rather i enjoy life first then starve to death later instead of living a slow poverty driven death at the hands of our govt.
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Originally posted by jojobeach:
Which caculator you use ?
I use the official website.one. only get like $ 800 per month if I die broke (standard option) at full minimum sum.
Why so low. $800 can buy what?
Give me back my money lah. Rather i enjoy life first then starve to death later instead of living a slow poverty driven death at the hands of our govt.
Are you using the P@P brand one?
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Times are bad.
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Originally posted by TehJarVu:
you can say why $155k (and keep increasing) and oni $1200 per mth
but not criticise like an idiot who doesn't know head doesn't know tail
But that's the whole point ma.
I bet 10 cents that he was one of those who actually put money in Roy's personal bank account.
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cpf minimum sum keep going up, it is not enough to pay for expensive hdb housing !!!
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You know something is not right when the price of hdb is tied to "market" rate.
That's because the govt controls the supply, they essentially control the "market".
It's very basic economics.
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Originally posted by charlize:
How you know?
Maybe 5 million is the maximum mark?
you got 5 million in CPF ?
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Originally posted by sgdiehard:
you got 5 million in CPF ?
You can photoshop your statement and put 5 trillion.
Then you can tell people you feel rich.
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Originally posted by charlize:
You can photoshop your statement and put 5 trillion.
Then you can tell people you feel rich.
you feel rich with the statement? when I see my bank statement with 5K, I go buy PS4 ...feel the box damn siok liao, the real feeling.
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Originally posted by sgdiehard:
you feel rich with the statement? when I see my bank statement with 5K, I go buy PS4 ...feel the box damn siok liao, the real feeling.
$5 cai png with extra luncheon meat and fish cake makes me feel rich too.
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Originally posted by jojobeach:
You know something is not right when the price of hdb is tied to "market" rate.
That's because the govt controls the supply, they essentially control the "market".
It's very basic economics.
Yeah, I know it's not right.
I would rather Peter Lim control the supply.
It's very basic common sense.
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Originally posted by charlize:
$5 cai png with extra luncheon meat and fish cake makes me feel rich too.
that is more realistic, don't go photoshop beautiful girl next to your picture and feel orgasm.
careful what you do with cut and paste. -
hur?
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Harder.
work harder.
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Originally posted by charlize:
$5 cai png with extra luncheon meat and fish cake makes me feel rich too.
Char next time your cai png more than SGD5.00 no meat no fish cake small portion of rice w a bit curry gravy
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Originally posted by TehJarVu:
To cater to Singaporeans' rising expectations of what is considered a basic standard of living in retirement, the CPF Minimum Sum has been increasing for each group of members turning 55 yearly, to reach a target of $120,000 (in 2003 dollars) by 2015. In order to maintain its real value over time, the Minimum Sum increases to account for inflation.
In view of this, the Minimum Sum that will apply to CPF members who turn 55 between 1 July 2014 and 30 June 2015 is $155,000. This will be set aside in their Retirement Account using savings from their Special, and then Ordinary Accounts. The Minimum Sum for CPF members who turn 55 before 1 July 2014 remains unchanged.
The Minimum Sum provides CPF members with monthly payouts from the Draw-Down Age (DDA) . Setting aside more retirement savings means higher payouts when members retire. To illustrate, under the CPF LIFE Standard Plan, setting aside the full Minimum Sum of $155,000 at age 55 provides a lifelong payout of about $1,200/month, while $75,000 will provide about $620/month.
Medisave Minimum Sum and Medisave Contribution Ceiling to better cater for Singaporeans' long-term healthcare needs
The Medisave Minimum Sum is the amount a CPF member needs to set aside in his Medisave Account for his own and his dependants' healthcare expenses, as well as MediShield and ElderShield premiums during old age.
With Singaporeans living longer and the availability of better quality of medical treatment, Singaporeans will need to save more in their Medisave Accounts to help pay for their healthcare expenses. In addition, as Medisave is opened up to more uses, regular Medisave Minimum Sum adjustments are necessary to help Singaporeans better prepare for their long-term healthcare needs.
From 1 July 2014:
a) The Medisave Minimum Sum will be raised to $43,500 from $40,500. A member will need to have this amount in his Medisave Account and also meet the CPF Minimum Sum before excess funds can be withdrawn.
b) The Medisave Contribution Ceiling will be increased correspondingly to $48,500, from $45,500. This is the maximum balance a member can have in his Medisave Account.
Any Medisave contribution in excess of the current Contribution Ceiling will be transferred to the member's Special Account, if he is below age 55, or to his Retirement Account, if he is above age 55 and has a CPF Minimum Sum shortfall.
Public enquiries
For more information, please visit www.cpf.gov.sg or call the CPF Call Centre at 1800-227-1188.
u forgot to take into account inflation, price will not stay constant, the bus fare will rise under bus contracting model, london bus fares have been going up BUT they have concessions for a wide range of pple
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Originally posted by Acx1688:
Char next time your cai png more than SGD5.00 no meat no fish cake small portion of rice w a bit curry gravy
Eat less cai png lor.
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How about government Garantee 3 meals of cai png when 60 years old plus got to redraw pocket money 2000$ a month with no minimum sum...