"Life isn't fair. You play with the hands you are dealt with."
Pay Cut when you become another older asset that is losing productive value.
- Reaching 50: Cut 4% off Employer contribution rate
- Reaching 55: Cut 3% off Employer contribution rate
Soon, I will be taking the second CPF cut from the Employer contribution rate and effectively the total pay cut is 7%. Fortunately, I don't have any oustanding housing loans; otherwise, I will feel the pinch.
Posts
Instead of increasing the pay for employees , they are cutting the pay,Any particular reason ?
ReplyDeleteLesser contribution by the employee, more money to grow and invest!
ReplyDelete$ in CPF can also use to invest ma!
ReplyDeleteI think for ordinary citizens the older you get the more they think you are over the hill. For the Elites/CEOs it is the older they get the more valuable they become. Same Singaporeans, different classes.
Ordinary folks seem to have very little value when they are over 55. Most probably "they" think we have left very little grey matter and muscle except "themselves".
This is a good example where life is never fair applied. If you want life to be fair, be your own "boss"