Page 2 of 2 FirstFirst 12
Results 21 to 25 of 25

Thread: Which CPF plan to choose when reaching 55

  1. #21

    Default Re: Which CPF plan to choose when reaching 55

    Quote Originally Posted by starboard View Post
    My suggestion is, don't listen to what others say, but make a trip to CPF office and speak to an officer there. Prepare a list of questions that you want answers.

    You will be surprised at what you hear! I had a choice (I am older and not compulsory) so I decided not to sign for any of the scheme. You can draw your own conclusion from my decision.

    If you must choose, speak to CPF before making a choice.
    Thank for your advise.

  2. #22

    Default

    The "Reaching 55_Booklet.pdf" downloadable from the CPF website is informative, with examples & scenarios. For those born in 1958 & later, reaching 55 next year, there is a change in CPF Life policy from 01Jan13 which will affect them. It's also explained in the booklet :-)
    Hobbyist; Weekend SG Tourist

  3. #23

    Default Re: Which CPF plan to choose when reaching 55

    Quote Originally Posted by Van Faniel View Post
    Why must we choose these kind of stupid options when it's our money to begin with? Give us the freedom to do whatever we want with our money!
    1 of my friend told me that it is also good to lockup your money in either the CPF or an insurance annuity. It will guarantee that you have some meaningful survival money in your old age when you can no longer think logically/coherently.

    Many people when given a sudden windfall will not be able to manage it prudently. Some will go to vices like gambling or womanising. Some may do some investment which may wipe out his entire life saving. In this scenario, it will be a safer approach to lock away some money in the CPF RA or an insurance annuity.

    Also, when you lock away your money, no conman like relatives or friends will approach you for money when they know that the money is beyond their reach.

  4. #24
    Senior Member Big Kahuna's Avatar
    Join Date
    Dec 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    2,127

    Default

    The best of it is it will not be swindled or con away.....I had that in my relative....he is now is sorry state and all of us have to chip in to look after his living and medical....we surely got grievance here and there as we have our own interest to look after.....there is only so much we can help

  5. #25

    Default Re: Which CPF plan to choose when reaching 55

    Quote Originally Posted by Big Kahuna View Post
    The best of it is it will not be swindled or con away.....I had that in my relative....he is now is sorry state and all of us have to chip in to look after his living and medical....we surely got grievance here and there as we have our own interest to look after.....there is only so much we can help
    This is another example of why we need to lockup our money while we still have a clear mind.

    Your relative is still lucky that he still got relative to chip in to take care of his needs. Many others even have to bear the unbearable - dump even by their own children.

Page 2 of 2 FirstFirst 12

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •