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06-09-2012, 10:18 AM
(This post was last modified: 06-09-2012, 03:08 PM by Temperament.)
Sorry, (just for logical argument). Though the reasons stated maybe possible or not possible is up to your own opinion or sense of "judgement".
Example: Quote from nsengkia
Q: Why not have guaranteed minimum payouts for CPF LIFE?
A:
For the scheme to be sustainable over the long term, payouts have to be adjusted periodically to take into account factors such as actual mortality experience and investment returns. As such, CPF LIFE does not have a guaranteed minimum payout.
Unquote:-
This is an example where the CPF LIFE (a kind of annuity scheme actually) covers its backsides. Though it may have other positive attributes.
But for me i can't accept :- "As such, CPF LIFE does not have a guaranteed minimum payout."
i would rather have my "min sum" guarantee a payout until it disappears. i think most 55+ & above, when CPF LIFE was introduced, chosen to opt out for many other reasons too. Don't ask me for statistical proof. If you must, i can only tell you, 55+ at that times did have "coffee-shop" talks.
NB:
May i add the GOV offers of "Bonus $" if you delayed withdrawal of your CPF MIN SUM until age 65 is a very good move for those who can take advantage. Especially now Banks are paying worse than peanuts in interest rate. Of course you must have some cash fund to tide you over for the delayed period of 3 to 5 years. In this way you are setting up your "own annuity" in a way. Of course i opted in. Sorry for those who can't take advantage due to one reason or another.
And for those who reach the withdrawal age of 65, can even consider delaying even longer if they think it is more "beneficial" for them to do so. They then can have a "perpetual standby annuity scheme" from the GOV. i think unlike US GOV, our GOV doesn't stipulate a compulsory withdrawal age.
Amen.
Example: Quote from nsengkia
Q: Why not have guaranteed minimum payouts for CPF LIFE?
A:
For the scheme to be sustainable over the long term, payouts have to be adjusted periodically to take into account factors such as actual mortality experience and investment returns. As such, CPF LIFE does not have a guaranteed minimum payout.
Unquote:-
This is an example where the CPF LIFE (a kind of annuity scheme actually) covers its backsides. Though it may have other positive attributes.
But for me i can't accept :- "As such, CPF LIFE does not have a guaranteed minimum payout."
i would rather have my "min sum" guarantee a payout until it disappears. i think most 55+ & above, when CPF LIFE was introduced, chosen to opt out for many other reasons too. Don't ask me for statistical proof. If you must, i can only tell you, 55+ at that times did have "coffee-shop" talks.
NB:
May i add the GOV offers of "Bonus $" if you delayed withdrawal of your CPF MIN SUM until age 65 is a very good move for those who can take advantage. Especially now Banks are paying worse than peanuts in interest rate. Of course you must have some cash fund to tide you over for the delayed period of 3 to 5 years. In this way you are setting up your "own annuity" in a way. Of course i opted in. Sorry for those who can't take advantage due to one reason or another.
And for those who reach the withdrawal age of 65, can even consider delaying even longer if they think it is more "beneficial" for them to do so. They then can have a "perpetual standby annuity scheme" from the GOV. i think unlike US GOV, our GOV doesn't stipulate a compulsory withdrawal age.
Amen.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.