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Ha! Ha!
My CPF LIFE will be increased by $10.49 cents from this JULY.
i think it is a viable scheme as more and more younger people are "forced to join" when they have reached "retirement age".
How much is your increase in $? in %?
My is about 1.63%.
I am trying hard not to depend on CPF Life to fund my retirement. For one reason, I am currently not contribution to CPF. Will depends on other means to cover my shortfall when I reach 65.

Based on my best estimate, I should be withdrawing around $700-800 per month (roughly $350-400 today's dollar) from CPF Life when reaching my turn.
(09-05-2014, 11:56 AM)Temperament Wrote: [ -> ]i think it is a viable scheme as more and more younger people are "forced to

You mean it is like a scheme like 'later participants pays for earlier participants"..hahahah....
hmmm i dont quite believe that the payout increases as a result of more people joining
I think as more people joins, the cost ratio goes down and hence payout increases

This is very different from ponzi, unless their actuarial study turns out to be as reliable as our car traffic projections Smile
Other than mortality rates, one other component is the interest rate they use for calculation.
(09-05-2014, 04:32 PM)opmi Wrote: [ -> ][quote='Temperament' pid='82126' dateline='1399607816']
i think it is a viable scheme as more and more younger people are "forced to

You mean it is like a scheme like 'later participants pays for earlier participants"..hahahah....
[/quot
Ha! Ha!
Don't be to happy. if you read the fine print, the amount can decrease also. What's more, there is no guarantee a base limit of payout. (aka how low can it goes? Zero or what?)
That's why in the beginning, this was one of the reasons, i didn't join. Since i have an option.
Crazy isn't it no base limit of guarantee payout and you call this CPF income for life?
(09-05-2014, 11:56 AM)Temperament Wrote: [ -> ]Ha! Ha!
My CPF LIFE will be increased by $10.49 cents from this JULY.
i think it is a viable scheme as more and more younger people are "forced to join" when they have reached "retirement age".
How much is your increase in $? in %?
My is about 1.63%.

wow, how old are u sir?
I view this as a bond component of a retirement portfolio. Decent risk-free returns of 4% and 5% (on first S$40,000). I am 35 this year and aim to hit the minimum sum again by end 2014 by contributing under the minimum sum topping-up scheme. Reduces my assessable income for tax savings.
Something new to me, did a check and ....

Quote:However, if you are not placed on CPF LIFE, you can
choose to join CPF LIFE any time between age 55 and one
month before your 80th birthday.

So, forget it....
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