I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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Saturday 21 June 2014

CPF Minimum Sum Scheme


The Minimum Sum Scheme was introduced in January 1987 to help CPF members set aside sufficient savings to support a basic standard of living during retirement. When the scheme was first
started, members were required to set aside a sum of $30,000 in their Retirement Account when they turned 55 years old. 








































Look at the above chart; many were not meeting the minimum sum.

It is an old issue. Right?



Posted by Createwealth8888 at 17:36
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2 comments:

  1. Createwealth888821 June 2014 at 17:44:00 GMT+8

    A time bomb issue that was exploded this year.

    ReplyDelete
  2. Anonymous21 June 2014 at 18:18:00 GMT+8

    A time bomb indeed!
    MS keeps on tracking yearly inflation rate where as your pay has been on reverse gear or parking. With all the imported cheap labour where can your pay goes? You will be considered fortunate if you are still not replaced by cheaper FTs.

    By my time at 55, my MS was $75k. i managed to meet it and then some. Thanks to my Blessings in CPFIS. Also HDB housing price was quite affordable at that time too.
    Sorry mate, i think our G has lost touch with the population.

    ReplyDelete

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