CPF savings not enough

‘According to a recent survey by Manulife, only one in 5 Singaporeans feel confident that their CPF savings will be sufficient for them to retire comfortably.

The survey, which was conducted online with over 500 respondents over the last three months, found that almost half (47%) believed that they didn't have enough CPF savings to meet even their basic retirement needs.’ Posted in TheRealSingapore

What to make out of this survey? The first thought, let’s make sure that the 80% would have enough CPF savings when they retired. Let’s help them! One way is to make sure that they save more. If 50% of their income not enough, make them save 60%. This should help. If not, increase to 70%. This should be easy. The second option is spend less, to stop them from buying properties that they cannot afford and at too high a price. This option may be a bit difficult to implement as all of them would swear the properties they are buying are affordable, especially HDB flats. And they will quote the ministers as the authority that HDB properties are affordable. The problem part is that the 80% most probably bought HDB flat and now say they would not have sufficient savings for retirement. Don’t ask me why. The third option, make sure they can only take out their CPF savings 5 years before they are about to die. As an example, if they are to live to 100 years, allow them to take out their savings at 95. Like that sure got enough. But problem is how to know they will expire in 5 years? Maybe can ask god.

Another way to look at this problem is to question what they meant by not enough? Are they thinking of living like a king, a minister, a civil servant or an ex PME? If they are thinking of living like the first 3, then even if they contribute 80% of their income to CPF also not enough. But if they think like living like an ex PME, willing to be taxi drivers until they expire, then whatever they have in their CPF, or don’t have, also got enough. Ex PMEs are more down to earth and would probably downgrade to eat in the hawker centres. They would also be happy to drive their taxis till the last day. So got or no got CPF, never mind as long as they can drive their taxis. Can’t imagine them be cleaners or security guards at 90 years old,

So, looks like the problem is about explanations or is it expectations. Want to eat in restaurant sure not enough. Want to eat in foodcourt maybe enough, maybe not enough. But if happy to eat in hawker centre, sure enough.

So, what is the problem with the survey findings? Want to tell them not enough and then help them by increasing their savings to 60% or 70%? Or want to tell them the hard truth, everything is enough if don’t buy expensive affordable HDB flats and eat in hawker centres? See, no problem right? Or shall I con them by agreeing with them that money not enough so that I can help them, to save more for the future and eat lesser now?

Tiok boh?

PS: I have not told them the secret formula…sell their homes, sure enough.

Kopi Level - Green


Anonymous said...

Rb // Want to tell them not enough and then help them by increasing their savings to 60% or 70%? //

Rb, YEW human being or soulless TYRANT? Ancient Egyptian Pharaohs? Save 70% then eat what?

From young start work till old age save 70% or even 60% might as well go back 3500 years ago ancient Egyptian slavery system? What is the diff?

YEW are just a slave to the system from birth till death for the glee of some sickos. To make them live good life, million$$$$$$ not enough just increase through the stroke of the pen, live in 100,000 sq ft GCWs with swimming pool, garden, koi pond, 10 cars garrage, 20-rooms house, maids running around to tend to every single chore......... in short live like a king?

And YEW slaved from morning to night, cradle to grave? Are YEW stupid?

When the root causes are left to multiply, the tree will continue to rot and crash sooner than later.

Now have to monetize or sell your house?

After that what?

Sell your grandmother?

Then still not enough sell what?

Sell, sell, sell ..........

What kind of problem solving is that?

The wet market and coffee shop uncles and aunties can even do better than that.

When the starting premise is to enrich themselves and their own cronies, the so called solutions to help the masses are just "plain lies ".

Really, are YEW stupid?

Anonymous said...

very simple why cpf savings not
enough for retirement....

too many people are following the
crowds flooding property launches
over stretching & over committing
in buying their houses.....

just settle for a simple home
within your means and try to
slowly accumulate your cpf....

there is no U-turn, Singapore
will always be the most expensive
city to live in.....

thus living within your means is
the only way to survive in this
cruel world.....


Anonymous said...

RB, your analysis is damn good. A refreshed perspective of a survey. Knn u should join the opposition lar

Anonymous said...

CPF savings is definitely not enough.
I need more money for my wife's investment ideas.

Your Alien PM

This is satire.
Any resemblance to any real persons or pigs is purely coincidental.

Anonymous said...

OK lah, only one in 5, or 20%, Singaporeans feel confident that their CPF savings will be sufficient for them to retire comfortably.


But 60% voted PAP, tio bo?

Meaning a lot, although not confident CPF savings enough for retirement, but are confident enough to let PAP remain as govt to continue their CPF policies.

And for PAP, this is what really matters, not whether Singaporeans confident CPF enough for retirement or not.

Anonymous said...


High property prices: Launches attracted many many buyers

BTOs: Over-subscribed

High COE/Car prices: Fully booked

Etc etc etc

Matilah_Singapura said...

You cannot trust surveys. Whatever "information" is gained is UNRELIABLE.

It is a waste of time to even consider what these assholes at Manulife "discovered". (i.e. they discovered that people have an opinion, that's all)

Pure rubbish lah!

Anonymous said...

Y stinkaponang so stupigs?

No monelee.... let government feed lah.

No house stay, let God provide, oops, meaning government provide.. actually same same lah... since old fart lee kuan yew is God to everybody, across all releegions

Just go any stores steal something n call the staff to leeport polilee

Goes court... fuck the judge, problem solved
Go Hilton stay... verlee the steady solutions