Die liao, CPF rate sure will go up?

Wanna bet that the recommendation will be that the CPF contribution rate for older workers will have to be increased?

I refer to the article “Work group set up to review retirement age, CPF contributions of older workers to meet this week” (Straits Times, Jul 30).

It states that “With Singaporeans living longer and standards of living improving, there is a need to relook the issue of whether they have enough to retire on, said Manpower Minister Josephine Teo.

A work group set this to address this and other issues faced by older workers will meet for the first time this week.

At an interview on Thursday (July 26), Mrs Teo said one in two Singaporeans aged 65 today is expected to live beyond 85, and one in three will live beyond 90.

This means people will spend longer in retirement and so will need to save more during their working years, she added.

People’s expectations have also changed, and they may need more money to maintain their standard of living in retirement, she said.”

My friends said “aiyoh die liao – this one very obvious leh – when Minister say “living longer … standards of living improving … whether  have enough to retire on … one in three will live beyond 90 … spend longer in retirement … will need to save more during their working years”

Wanna bet older Sinkies sure will kenna increase CPF contribution rate lah!

Aiyah, so jia one in May already said like hinting lah – “Nevertheless, she did not want to pre-empt the tripartite workgroup’s recommendation in this regard, and asked that it be given time to examine the issue. “They might very well come to the conclusion…that in the immediate and medium term, it works (as it is),” said Mrs Teo, adding that no timeframe has been set for the workgroup to come up with their recommendations””.

Already bo lui – now even less lui lah – more will kenna locked up hor!

 

Leong Sze Hian

 

 

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13 Responses to “Die liao, CPF rate sure will go up?”

  • PC Ong:

    It is good the govt recognize the issue of longer life expectancy. Increase is the CPF contribution rate is the right thing to do because the Minimum Sum needs to increase to at least $500,000. CPF is also an ideal compulsory form of savings – it prevent some profligate Singaporeans who will otherwise spend the money foolishly on Batam, new iPhone, or all the expensive restaurant and long holidays.

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  • UniQ:

    When the People Fear the Gahmen its TYRANNY
    But
    When the Gahmen Fear the People, Its LIBERTY

    Its your choice Sinkies….

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  • N.Jungne:

    Good lah, go back to 25/25% ultimatum, otherwise back to 1955.

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  • Hero Bock lai lo:

    Hey! Quickly spread the word! Tell all working older Sinkies, must vote out the pap! Not only can we stop the pap from increasing older workers’ CPF contribution rate, also no increase in GST, no increase in electricity, no increase in many other fees. pap is the mother of all sinkies’ problems.

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  • Be Optimistic!:

    Maybe they are considering an increase in CPF interest rate for Senior Citizens to reward them for their contribution towards nation building?

    I know it may sound like a big joke but we do have ‘jokers’ in the Gahment!

    If you think can happen, ‘kee chiew’!

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  • LIONS:

    lee ah long claims ,albeit with a sneaky GRIN,that PAP gahmen care for the people.

    the VERY FACT that the PAP gahmen openly rob sgs of their ONLY RETIREMENT SAVINGS IN CPF monies goes to show HOW CARING THE PAP GAHMEN truly are,especially after they have also ROBBED sgs of their JOBS N LIVELIHOODS!

    CARING IS NOT SCREWING UP EPOPLE’S LIVELIHOODS NOR THEIR SAVINGS.
    perhaps,THE PAP GAHMEN ONLY CARE ….ABOUT HOW TO suck your little savings???

    FARK YOU PAP GAHMEN,FARK YOU TILL YOU DROP DEAD YOURSELVES!!!

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  • S’poreans are generally stupid:

    PC Ong:
    It is good the govt recognize the issue of longer life expectancy. Increase is the CPF contribution rate is the right thing to do because the Minimum Sum needs to increase to at least $500,000. CPF is also an ideal compulsory form of savings – it prevent some profligate Singaporeans who will otherwise spend the money foolishly on Batam, new iPhone, or all the expensive restaurant and long holidays.

    So true.

    By and large, Sinkies are generally stupid. Need to be told what to do, when to do etc. don’t spit, flush toilet, don’t litter, don’t pee in lift, have more sex in small space, welcome FT who come to steal your jobs, University degree not necessary, retired men only think about sex in Batam etc, etc.

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  • UniQ:

    PC Ong:
    It is good the govt recognize the issue of longer life expectancy. Increase is the CPF contribution rate is the right thing to do because the Minimum Sum needs to increase to at least $500,000. CPF is also an ideal compulsory form of savings – it prevent some profligate Singaporeans who will otherwise spend the money foolishly on Batam, new iPhone, or all the expensive restaurant and long holidays.

    Yeah, you absolutely right. ACE ++

    and we also no not need 89 members in the Cabinet on a land 40km by 60km. Which the reduced amount in Hundreds of Millions a year could be channel to social support programs. Not forgetting, hiring retired Generals with exorbitant amount of salary pegged to their last drawn salary, and the additional expert to babysit these Generals. The cost goes into the Billion$$ from Dumb Sinkies BLOOD $$.

    Talk about Brains and Contribution, what have you ?

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  • oxygen:

    @ PC Ong

    NO NEED TO BLUFF AH KONG AND AH MAH again, lah. How much can increase in CPF for older workers with limited working years left add to the CPF pool, pretending to augment his retirement saving for old age?

    It is a CONVENIENT LIE AND COVER to make peasants COLLECTIVELY add more to State coffer knowing that our SWFs are trapped with investments expected to stumble with huge losses forward.

    PC Ong: It is good the govt recognize the issue of longer life expectancy. Increase is the CPF contribution rate is the right thing to do because the Minimum Sum needs to increase to at least $500,000. CPF is also an ideal compulsory form of savings – it prevent some profligate Singaporeans who will otherwise spend the money foolishly on Batam, new iPhone, or all the expensive restaurant and long holidays.

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  • DOOM:

    LIVING ANGEL PC ONG…..

    NO DRINK

    NO SEX

    NO SMOKE

    JUST LIKE PAP IN WHITE….

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  • IB Ong:

    Want increase Minimum Sum but don’t want Minimum Wage ????

    This govt recognise longer life expectancy an issue, but close eyes to under-employment and low wages ????

    What kind of govt is this ?????

    When people got high paying job, would anyone buay song with minimum wage?

    When people got high paying job till the latest declared retirement age, would longer life expectancy be an issue?

    PC Ong:
    It is good the govt recognize the issue of longer life expectancy. Increase is the CPF contribution rate is the right thing to do because the Minimum Sum needs to increase to at least $500,000. CPF is also an ideal compulsory form of savings – it prevent some profligate Singaporeans who will otherwise spend the money foolishly on Batam, new iPhone, or all the expensive restaurant and long holidays.

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  • Nation Of Dumb Parrots:

    PAP evils only talked about delaying retirement age, creating a perception that people will get to work longer. The truth is that they want to delay CPF withdrawal and permanently withhold the money. This is sure money into their pockets.

    Delaying retirement age does not mean that old people will get a job or have CPF contribution, but rather they cannot take out CPF money even future down their age. That’s their true motive and intention. Any additional contributions are just a plus.

    Get it dafts?

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  • 卖国贼:

    ‘save more during their working years’ she said. What a joke!
    How to save more during working years when they invite FT’s to steal our jobs?
    People’s expectations did not changed, Govt’s have increase hardship for them.

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