On CPF returns


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Feb 26, 2003
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#1
http://siewkumhong.blogspot.com/2007/09/speech-on-ministerial-statement-on-cpf.html

Malaysia's EPF has better returns than Singapore's CPF...

In a 2006 paper[1], two NUS economists argued that “CPF members have not benefited from the power of compound interest”. They estimated that from 1987 to 2004, the real rate of return credited to CPF members was only 1.2% per annum. This was contrasted with an equivalent rate of 3.39% for EPF members in Malaysia. This shows just how poor CPF returns have been, when compared with other countries’ provident fund systems.

7. Now, the Minister has announced an improved rate of 3.5% for up to $20,000 in the Ordinary Account. Let’s put that into perspective.

8. Since last December, insurance company Aviva has advertised a product called BIG e. This insurance product targets CPF members, providing a guaranteed return of 3.5% per annum for CPF funds parked with it, subject to a minimum investment of $5000. Aviva fixes this rate every month in advance, but it has stayed at 3.5% since the product was introduced in December 2006. Funds invested with Aviva can be withdrawn at any time without penalty.

9. How is Aviva able to offer such a product and still make profits? Why can’t the CPF Board match Aviva’s rate for all CPF balances in the Ordinary Account? My layman’s perspective cannot comprehend this, and I hope that the Minister would explain.
 

Kit

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#3
CPF? Returns?? I don't even think about it.... by the time I see those money, I could be well over 150 year old.....
 

#4
CPF? Returns?? I don't even think about it.... by the time I see those money, I could be well over 150 year old.....
heheh you mirror what I feel except I think of it as throwing money away and will not see again. I have resign myself to that.....funny really as I can still laugh at that.
 

reachme2003

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Oct 6, 2003
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#5
we have been underpaid for our cpf $ all these years.

heheh you mirror what I feel except I think of it as throwing money away and will not see again. I have resign myself to that.....funny really as I can still laugh at that.
 

#6
we have been underpaid for our cpf $ all these years.
eh...actually I know about that. Found that out from my cousin and relative in Malaysia long time back. What to do? heheh.. All I am doing now is work damn hard to earn and save for my old age survival alone. Kiss my CPF goodbye. I already know for a fact I will not see that money. I have no need to buy a house as i have one fully paid. I am diebetic so I know I will not live long as the claim 89 yrs old. I can't use much of it for medical or there is too little of it when my illness gets worst in time to come. I have no wife thus no kids. Now if I outlive my sis and her hubby, all my money will go to Singapore authority. And people said I complain about our leaders so much. heheh well as you can see..I might be one of those who will fall through their policy crack and expectation. So I have resolved to find my own way out...just look at my contribution to the nation that goes beyoud serving in NS, boost the economy and soon give away my CPF in time to come if there is anything left from more policy changes in the future. oh well....
 

clicknick

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#7
heheh you mirror what I feel except I think of it as throwing money away and will not see again. I have resign myself to that.....funny really as I can still laugh at that.
Spend it then. Buy property, pay for education, pay for medical. Spend as much as possible..all this talk about CPF for retirement is bullshit if i cannot live long enough to see my $.
 

#8
Spend it then. Buy property, pay for education, pay for medical. Spend as much as possible..all this talk about CPF for retirement is bullshit if i cannot live long enough to see my $.
I thought about the education part...guess what...you can PAY FOR YOUR CHILDREN BUT NOT YOUR OWN. So since I am single..that is worthless idea from the authority to me heheh...unless that part has change like just minutes ago that I did not realise it heheh ...

Even the so called medical subsidy bit to help those with illness take care of part of their monthly or yearly medical like for diebetes.. Well MY doctor told me I am lucky I save about $300 per year and after tons of paperwork to fill up to apply for it. He talked me out of it....waste time according to him. But it was good wayang.

Buy property? Nah..that can incur other cost and coming out real cash that is aside of my CPF then that just disrupts my saving heheh...with the property market as it is up and down...it is hard to say if it is the right time plus at my age of 44 and income range ...you also wonder how much instalment banks will give. I am at that time of my life in which..you find you slip thru alot of the so called benefits and whatever so call terms and condition of living in Singapore. I am not going to rant lah...I am not in the mood to see any trolls come in and give me a tougue lashing again. heheheh.... Anyone want to intro me to an old rich woman? hahahahahah
 

blazer_workz

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#9
Spend it then. Buy property, pay for education, pay for medical. Spend as much as possible..all this talk about CPF for retirement is bullshit if i cannot live long enough to see my $.
is it true that any amount taken out from CPF for use b4 retirement age is just like any loan from bank and have to repay with interest?:dunno:
 

shojibake

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Dec 7, 2004
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#10
CPF? Returns?? I don't even think about it.... by the time I see those money, I could be well over 150 year old.....
The thing is CPF is your money, which could have been invested in something else that would enable you to retire easily. One of the questions to ask is if CPF money is used for investment elsewhere, and it returns something over and above what is given back to you, where does the rest go?
 

#12
The thing is CPF is your money, which could have been invested in something else that would enable you to retire easily. One of the questions to ask is if CPF money is used for investment elsewhere, and it returns something over and above what is given back to you, where does the rest go?
Where do you think? heheh.. how many parties are involved. It's you, CPF and the organisation that use it to invest. It is something I feel alot of people has been wondering. I recall Ong Teng Cheong asked about it too but he too got no answer heheh..

I hope this NMP fellow would get us some answer lah heh.
 

CSlye

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Jan 12, 2006
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U can see the monies.

Juz renounce Singapore Citizenship.
Not a bad idea since its kind of boring here ;)… or how about proposing a policy to treat it as a loan to the CPF board and then charging them at banks’ kind of interest rate? Kekeke …
 

#15
I would happily use my CPF to pay my darn income tax each year since I can't use it..I might as well let them "recycle" my money from one authority to another heheh...but I wonder why this is one area they will not let you do.
 

yanyewkay

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Sep 22, 2004
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#17
I invest all avilable in CPF out.. put in CPF is waiting for your money to depreciate only
 

night86mare

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#19
wa, make so much noise ar
i won't trust my money with any malaysian politician or civil servant sorry
there is hardly any accountability, shrug, i'm sure you know what i'm driving at

as for comparison with aviva, ludicrous
the gahment is not a commercial company
first we complain that singapore is being run like a company
then now we want it to give us interest rates like company

GOOD JOB PEOPLE, GET MORE CONFUSED PLEASE
 

blazer_workz

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May 8, 2006
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#20
wa, make so much noise ar
i won't trust my money with any malaysian politician or civil servant sorry
there is hardly any accountability, shrug, i'm sure you know what i'm driving at

as for comparison with aviva, ludicrous
the gahment is not a commercial company
first we complain that singapore is being run like a company
then now we want it to give us interest rates like company

GOOD JOB PEOPLE, GET MORE CONFUSED PLEASE
when they want money from us, they run like a company
why dun they do the same for money that's going to be paid to us?
 

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