TR EMERITUS

CPF Life One merit about CPF Life is that it is run by the Government. That removes the big worry of retirees as to whether their insurer is financially strong enough to withstand the next global financial crisis in order to keep making the monthly payouts, is what a SPH reporter wrote last Sunday. http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid={838399526-20200-2041240930}. Those who read this blog a few days ago will know that he is being constructive, and nation-building. There is a provision in the law governing the CPF Life Plans which states that payouts are contingent on the Plans being solvent. This is because premiums that are paid in to get the annuities are pooled and collectively invested. If the plan you chose doesn’t have enough money to pay out, you die. This is unlike the [Minimum Sum] scheme, where account holders are legally entitled to the monies in their CPF accounts … (http://atans1.wordpress.com/2011/12/03/best-cpf-life-plan/) The government has said the provision on solvency is only a precaution unlikely ever to be used. If so, why have it? This is a peace of mind issue. It was Gan who made this assurance when he was MoM. He should have told us the fact that the govt refuses to “protect” CPF Lifers from fund failure, despite CPF Lifers having to participate. If one cannot trust a SPH journalist to give us the relevant facts on a non-political issue, how can we rely on any SPH (and MediaCorp journalist, for that matter) to analyse or report political issues? After all our local media is proudly constructive and nation-building? BTW, how does this refusal to “protect” CPF Lifers square with what PM said last week? “We want to enhance [the CPF’s retirement-annuity scheme] so that the payouts can keep pace with the cost of living,” and “We also want to provide stronger assurance in retirement for the lower-income groups.” But the article made one gd point, The Standard plan offers an annuity scheme similar to what retirees in Britain opt for. The Basic plan is commonly adopted by US retirees. Reminder, the Basic plan is closer to the Minimum Sum scheme that is no longer available. For more: http://atans1.wordpress.com/2011/12/03/best-cpf-life-plan/ Cynical Investor Source: Thoughts of a Cynical Investor  Read More →

(Photo: smallbiztrends.com) SOD has remained silence since PM Lee sued Roy. The issue mainly CPF. Maybe majority Singaporeans' wants their CPF back in full upon retirement at fifty-five. FT, PR could not care. Knowing when it's time to leave, picks up their pot of "Gold," plus thousands or hundred of thousands accumulated saving; to buy, build their dream house. Start business, go for extended holiday or whatever. Singaporean, you die your business! It's your money, what anyone does with it, is their business, Singaporeans or otherwise. SOD finds it amusing. Emotions run high and donate generously to Roy's defense funds. That good. However, many here have forgot Team TRE struggle keeping this social.political blog afloat. The writing is on the walls, with TOC changing domain ownership. TRE provides crucial platforms for everyone, including Roy, parrots and whoever. SOD envisions Team TRE muttering, damn f**king Singaporeans. TRE Editors should debate or "rethink" (means reconsider, change their core mission and objective). SOD's suspect many here are NOT giving wholeheartedly, hopping others to give more, or let the Editors pay out of pockets? Without TRE, Roy could not have the maximum exposure. Especially from overseas Singaporeans - US, Australia and UK. Some serious questions remain regarding CPF. TRE editors (assume with basic financial knowledge) Should the Garmen release your CPF at fifty-five "now"? What if the garment release CPF? What will happen to real estates in Singapore and cost of living (inflation?). Is your money safe in banks, stock markets, financial markets or in financial investment advisors hands' (see Latest below)? Who will benefit? SOD hunches, most likely majority Singaporeans will lose, may even go bankrupt and penniless before their working days are over. Remember majority of new business failed within five years. Dunno the figure today, the editors may provide latest statistics. Researched shown people gained from windfalls fortune almost always lose it and worst off than before. "Upon winning the then-largest-ever $314 million......barely four years after what should have been the luckiest day of his life.....a broken-down man ...." Latest: Today's decision by the ECB officially to lower the deposit facility rate from ZIRP to NIRP (ECB - European Central Bank, NIRP - Negative Interest Rate Policy, ZIRP - Zero Interest Rate Policy). What will happen to depositors' money? Many in the financial sectors know but will not disclose money deposited in banks, financial institute including stock market, Mutual Funds... are never safe. Moneys deposited in banks are not your money and banks can refuse to return. CPF pays 2.5% to 4%, still your best bet (if it's safe)? Read carefully: It's your money, do what you want with it. SOD is NOT against complete or partial CPF withdrawal at fifty-five or longer. Everyone should do research. Do not believe SOD, not even financial advisors. They are probably the biggest crooks. Trusting any Garment, Banks or whatever and jumping onto bandwagons that sing your song, without knowing what is over the hill can be damming. SOD will remain most hated - let it be. Stupid Old Dog * Submitted by TRE reader.  Read More →

When Han Hui Hui and Roy Ngerng announced in May that they would be organizing a “CPF” protest on 7 June, 4 pm to 7 pm, at Speakers’ Corner – they were planning for about 250 people – just like their previous protest in May at Speakers’ Corner on “Jobs and wages”. In fact, they had announced on their blogs that the $500 plus excess money from the previous events, would be sufficient to cover the costs of the “CPF” protest. They had actually invited all the political parties and some non-governmental organisations (NGOs) to send speakers to speak at the protest. And then “all hell broke loose” – when Roy Ngerng was served a letter of demand which eventually lead to Roy being sued for defamation. Roy’s lawyers advised Roy to not be a joint organiser of the protest anymore. So, the burden of being the sole organiser fell onto the lap of a 33 kilo 22 year old girl, Han Hui Hui. The phone, messages, emails, postings, meetings, etc, poured in like a flood practically everyday. The original 4 speakers ballooned to 9. So many other people wanted to speak, tell jokes, etc. It was becoming an unplanned, uncoordinated spontaneous “tsunami” – people were vandalising bus stops (a 71 year old man was arrested), people were printing flyers on their own and distributing them (one gentleman posted on the internet that he printed 4,000 flyers), unconfirmed reports of a man distributing flyers outside Parliament, posters pasted all over Singapore (Mr Tan Kin Lian received a call asking him about why the posters were pasted all over? – to which he replied that he was only one of the speakers, not the organiser), etc. Actually, even the organiser, Han Hui Hui didn’t know that people were printing and pasting posters all over Singapore. 3 days before the protest – ‘all hell “really” broke loose’ – the company that had agreed to put up the stage (someone called to sponsor the stage but wants to remain anonymous) called to cancel because they would have no business for the national day celebrations (2 months from now!). Roy received a call that he cannot have donation boxes (as Roy was no longer one of the organisers – he conveyed the message to Han Hui Hui), the printers called to say that they dare not print, etc. In this regard, Han Hui Hui asked how she is going to recover the estimated $2,000 that she has to pay upfront first for the sound system, etc – since donation boxes will not be allowed? Does it mean that she may only be able to have people give to her account via internet banking or atm? Come down to speakers corner on 7 June, 4 pm to 7 pm, with your family and friends. History is in the making – an unprecedented $88,000 has come in to the Roy Ngerng legal defense fund in a week  - and you never know – with so many people posting all over the internet that they would come to do so many things (people have made their own protest t-shirts, posters, placards, banners, umbrellas, songs, poems, etc) – the way that things have been happening – you may never know what to expect on 7 June. Leong Sze Hian  Read More →