S'poreans ranked lowest


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Nisa

Nisa

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S'poreans ranked lowest

The Republic is at the bottom of a ranking of retirement income from pensions in the Asia-Pac region. -ST

Fri, Jan 09, 2009
The Straits Times

SINGAPOREANS are at the bottom of a ranking of retirement income from pensions in the Asia-Pacific region, says the Organisation for Economic Cooperation and Development (OECD).

And this is true at all income levels, according to the study, which covered 19 locations including Hong Kong, Taipei and Japan, The Business Times reported on Friday.

The Pensions at a Glance study, which also involved the World Bank, found that Singapore's average gross replacement rate - the value of the pension as a percentage of earnings when working - is just 13.1 per cent.

source :- http://news.asiaone.com/print/News/AsiaOne+News/Singapore/Story/A1Story20090109-113489.html
 

CYRN

CYRN

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dun worry... we are asset LICH! :D
 

Nisa

Nisa

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yeah asset lich... we would spend almost our life time paying for it... and when we are not able to work anymore... we would have to sell it and get another smaller unit using the money we sold off the asset. and I doubt the money would last our daily expenses by then.

If given the chance, I would rather be poor. Rent a place from the gov't and stay there for the rest of my life, paying a 300 a month and when it comes to give money that time, I might even get more.
 

Yappy

Yappy

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Nisa said:
S'poreans ranked lowest

The Republic is at the bottom of a ranking of retirement income from pensions in the Asia-Pac region. -ST

Fri, Jan 09, 2009
The Straits Times

SINGAPOREANS are at the bottom of a ranking of retirement income from pensions in the Asia-Pacific region, says the Organisation for Economic Cooperation and Development (OECD).

And this is true at all income levels, according to the study, which covered 19 locations including Hong Kong, Taipei and Japan, The Business Times reported on Friday.

The Pensions at a Glance study, which also involved the World Bank, found that Singapore's average gross replacement rate - the value of the pension as a percentage of earnings when working - is just 13.1 per cent.

source :- http://news.asiaone.com/print/News/AsiaOne+News/Singapore/Story/A1Story20090109-113489.html
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Sob sob sob.... somebody ought to do something.

Our leaders have a lot of explanation to do...
 

L

LittleWolf

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Yappy said:
Sob sob sob.... somebody ought to do something.

Our leaders have a lot of explanation to do...
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Why, they are acting on it. Aren't they telling people on almost any occasion that they should keep working instead of retiring? No retirement = no need for retirement funds = problem solved.
 

Sion

Sion

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Yappy said:
Sob sob sob.... somebody ought to do something.

Our leaders have a lot of explanation to do...
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Don't you know we have an extended family system. Our children should take care of us when we are too weak and old to go out to earn a living. :bsmilie:

Our pensions can be the lowest in the region. We don't need them. :bsmilie: :bsmilie:
 

K

kelccm

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I think our CPF is not considered as pension right? If I'm not wrong, majority of the companies in Singapore don't practice pension scheme any more, including those from civil service.:dunno:
 

azul123

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Nisa said:
If given the chance, I would rather be poor. Rent a place from the gov't and stay there for the rest of my life, paying a 300 a month and when it comes to give money that time, I might even get more.
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You must be kidding right?

../azul123
 

azul123

azul123

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Nisa said:
nope i am not.
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You prefer to be poor? it is quite unthinkable.. I'd rather pay big and have lots rather than pay little and be poor.

I guess different strokes for different folks. :think:

../azul123
 

luntut

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azul123 said:
You prefer to be poor? it is quite unthinkable.. I'd rather pay big and have lots rather than pay little and be poor.

I guess different strokes for different folks. :think:

../azul123
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ask those pple in auzzie who is drawing dole from the garmen.

they dun work, they are poor, they drive a MPV to the bank to draw their share of the dole. and there is a serious LOT who is drawing dole, refusing to work. why work and earn, when you dun work and get money from garmen, soooo many damn things subsidized.
 

S

Silence Sky

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Nisa said:
yeah asset lich... we would spend almost our life time paying for it... and when we are not able to work anymore... we would have to sell it and get another smaller unit using the money we sold off the asset. and I doubt the money would last our daily expenses by then.

If given the chance, I would rather be poor. Rent a place from the gov't and stay there for the rest of my life, paying a 300 a month and when it comes to give money that time, I might even get more.
Click to expand...
azul123 said:
You must be kidding right?

../azul123
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Nisa is very very smart.

At age 25, you rent a flat from garment.
You stay there for 50 years = 75 Year old.
Total rent = 50 years x 12 months x $300 = $180,000.

Today, what flat can you buy with $180k?
If you really can buy one at $180k, what about the interest you have to pay over the loan period? = $79,420 for a 30 year loan at 2.6%

The stupidest will think they own an asset, while in fact they are just renting from HDB.
Those who buy 40 years resale flat are paying a monthly rent of $600 for a $300k flat.
 

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Nisa

Nisa

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azul123 said:
You prefer to be poor? it is quite unthinkable.. I'd rather pay big and have lots rather than pay little and be poor.

I guess different strokes for different folks. :think:

../azul123
Click to expand...
money is not important.
I rather be poor happy than be rich stresssed and unhappy.

look at the millionaire who had committed sucide... he still have about 100 millions!
 

D

dreaming

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Silence Sky said:
can use the $25k lock in the medi save to pay for funeral service?
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haha, by the time we die at 70 (assuming we are now 30 years of age), we might need the minimum sum lock inside the ordinary account to foot the bill and a place at the columbarium
 

S

Silence Sky

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dreaming said:
haha, by the time we die at 70 (assuming we are now 30 years of age), we might need the minimum sum lock inside the ordinary account to foot the bill and a place at the columbarium
Click to expand...
Must pay GST or not?
 

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