CPF investment, retirement talks – Sun, 31 Aug 2008

Unbelievable, for the month of Aug 2008, I am in Singapore for 3 weekends.  Well, I like to do one big retirement issue and event for SHCians who are under 55 or under 62.  We have chatted a lot on this SHC forum on CPF  investments, health insurance, retirement funds, retirement villages and other related retirement issues.  Usually, we do not conduct such topics, and so, I think it would be a good idea if we hear from fellow SHCians on these issues.  If you would like to talk on a related topic, this is a good opportunity.  No selling.  Please specify topic.

  • Date:  Sun 31 Aug 2008
  • Time:  From 12nn to 2000 hrs.
  • Schedule: 
  • 1200 – 1300 hrs – Gather to know one another.
  • Venue:  Scorebot 18 Bali Lane.
  • Speakers:  from within SHC
  • Entrance:  Free, strictly for SHC members

For those planning to listen or meet other SHC members during this date, please jot date in your diary.  More details later.

Session 0: (Moderator and no topic leader.  For those not planning ot attending the sessions): Yew Kwong

  1. Yew Kwong
  2. Boon Liang
  3. Tim Liu – Bananas supplier.
  4. Ronald Wie – Tarzan swinging from tree to tree.
  5. Lydia Chin
  6. ChristinaCL Chan
  7. Andrew Thio
  8. And all others taking a rest, during the breaks.

Session 1:  Moderator and topic leader:  (Currency-Linked Investment (currency pairing/premium deposit) for yield enhancement) Eleanor Chan – 1400 hrs sharp (One hour).

  1. LH Jie
  2. Charles Chua
  3. Florence Ho
  4. Jessie Teo
  5. Helen Wong
  6. Jonathan Ong
  7. Annie Loh
  8. Gingko Tay
  9. Alicia Lim
  10. Peng Peng
  11. Ronald Lee
  12. Low Ming Choo
  13. James Tan
  14. Susan Tan
  15. Rene Leong
  16. Tim Liu
  17. Lee Ah Nee
  18. Molly Chua
  19. Juliet Ong
  20. Lina Ng
  21. Aaron How
  22. Seok Keng
  23. Oi Cheng
  24. Agnes Tan
  25. Mei Foo
  26. Margaret Tian
  27. Pauline Khoo
  28. Patsy Lim
  29. Boon Liang
  30. Daisy Yeo
  31. Maureen Lee
  32. Jessie Tan
  33. Vivian Lai
  34. Lee King Seng
  35. Rena Wong
  36. Grace Wong
  37. Lilian Teo
  38. Richard Tham
  39. Andrew Thio
  40. ChristinaCL Chan
  41. Limited to 20 40 pax.  Aiyah, as usual, I underplan.  Kind of worried the numbers will exceed the plan.  Looks Like we have to issue coupons for a seat.  After that, got to sit on lap or stand.  Nevermind, I shall let the brains do some work.

Session 2:  Moderator and topic leader: Ronald Wie (How to draw out all our cpf monies before the minimum sum is due for ‘cold storage’). Time 3.30 pm (1 hour)

  1. Juliana Kok
  2. Terence Seah
  3. Helen Wong
  4. Jonathan Ong
  5. Annie Loh
  6. Gingko Tay
  7. Ronald Lee
  8. James Tan
  9. Susan Tan
  10. Rene Leong
  11. Lee Ah Nee
  12. Molly Chua
  13. Juliet Ong
  14. Lina Ng
  15. Aaron How
  16. Judy Lim
  17. Chow Weng
  18. Tim Liu
  19. Seok Keng
  20. Oi Cheng
  21. Agnes Tan
  22. Peng Peng
  23. Bernie Chung
  24. Margaret Tian
  25. Pauline Khoo
  26. Patsy Lim
  27. Boon Liang
  28. Daisy Yeo
  29. Lydia Chin
  30. Grace Kok
  31. Maureen Lee
  32. Jessie Tan
  33. Susan Chan
  34. Vivian Lai
  35. Catherine Ho
  36. Rena Wong
  37. Richard Tham
  38. ChristinaCL Chan
  39. Limited to 20 40 pax.

Session 3:  Moderator and topic leader:  (Controlling Personal Finances (CPF) – Inflation and Recession.  A personal view.).  KT Wong

  1. Terence Seah – Haha, I get the privilege to put my name here first.
  2. Ah Nee
  3. Molly Chua
  4. Juliet Ong
  5. Lina Ng
  6. Aarow How
  7. Chow Weng
  8. Tim  Liu
  9. Ronald Lee
  10. Peng Peng
  11. Bernie Chung
  12. Pauline Khoo
  13. Helen Wong
  14. Catherine Ho
  15. Patsy Lim
  16. Boon Liang
  17. Steven Chan
  18. Margaret Tian
  19. Annie Loh
  20. Daisy Yeo
  21. Grace Kok
  22. Maureen Lee
  23. Ann Lim
  24. Catherine Ho
  25. Limited to 20 40 pax.

Terence Seah

Author: Terence Seah

Founder

116 thoughts on “CPF investment, retirement talks – Sun, 31 Aug 2008”

  1. looking forward to this. 1 suggestion though, maybe can talk on how to ‘cheat’ the gov by means of drawing out all our cpf monies before the minimum sum is due for ‘cold storage’. very scared now cos our scholars bought US banks at high prices, which cost less than 1/2 price now.

  2. I can share on Currency-Linked Investment (currency pairing/premium deposit) if there is interest. Investment in this financial instrument is mainly for yield enhancement.

  3. Hi Juliana,

    I share your concern, not only on the CPF minimum sum but also on all other investments, inclusive of life insurance.

    Seems we all need to learn from Eleanor as the only answer is hedging against other currency pairs, that is if our funds are not tied to the CPF.

    Now looks like we have join Terence earlier before 2010, else Thailand maybe even above what we can afford. I guess Terence has got all his sums all worked out.

    For me maybe Malaysia, maybe a better choice, local food, knowledge and closer to home. But you have to give up your citizenship to take out your minimum sum. Cheers.

  4. Hi Ronald,

    Let’s share, not learning. You may have some pointers that I can pick up from, yeah?

    I can explain on the technicalities of this instrument and what to watch out for when investing in one.

  5. Hi Eleanor,

    Sounds good, and we can make some good music while working on this. There is a music jam on the 17th Aug at Pinevale and on the 12th Sept at NSRCC. Have you brush up enough of your organ keys to join us if not just lend us your vocal chords.

    By the way, any plans for the next White Water Rafting? Nov to Jan is a good time to go to Ipoh, Gopeng White Water Rafting, it will be anything from Cat 3 to Cat 5. A few of us had gone in May earlier this year and had a good experience though the water was Cat 2 only.

    Sure we join the Aug 31 talk, and if we need more time to discuss in a retreat environment type of workshop, join us on the 12th and 13 Sept at NSRCC, along with some golf, dances, singing, and lazing around.

  6. Hi Juliana, Eleanor,

    Yes, I shall schedule a topic of discussion on “How to drawing out all our cpf monies before the minimum sum is due for ‘cold storage’.

    Another topic would be “Currency-Linked Investment (currency pairing/premium deposit) for yield enhancement.

    Confirmation around mid Aug.

    Terence Seah

  9. Hi Terence,

    Can I be registered please? Thanks.

    Eleanor, Can you include how the CLIs are priced? Preferably against a base currency like our S$ vs say, NZD,AUD or Euro.
    Thanks again and Cheers to all.

  15. If you have just collected your CPF (minus the minimum sum) and would like to share with us your experience and decision, please drop a note here. You can be the moderator for one of the talks. I am coming 53, so like everybody else, we would love you to hear from you. Today, I just walk past CPF building, and saw a big banner that for the first $60,000, you can get 5% interest. Raise your hand please.

    Terence Seah

  21. “…..pick a time…..a total of one hour….between 1300 hrs and 2000 hrs.”

    Sengh, btwn 1300 hours and 2000 hours is for romancing the stone……for Eleanor, it has to be after 2000 hours, better after 0000………now, what did you learn from yr recent mating classes?

  22. Hi Gingko

    There is another way to draw half the minimum sum, by pledging your current property if it is fully paid for. The question is how to draw the other, I guess indirectly to invest in other approved funds which was possible until recently.

    The question arises from the fact as stated by Juliana that our minimum sum seems like it will really reach the minimum values when it finally arrive, maybe just enough to buy Gingko nuts for your final celebration.

    So think, think, how to act and pry open Terence or Eleanor minds to know what they may be just discovering, that can help us from the road towards ‘minimum sum’.

  24. Hi Terence,

    Maybe someone from Scoreboard can also comment on what will happen now after the Beijing Olmpics? Will it go the way of the Joseph’s 7 year cycle as predicted by Simon Sim in his book.
    The first half of his prediction was accurate as it could have been, so wonder, what, assuming the second half will go his way, would be the right thing to do now? Cheers

  25. Hi Ronald,

    Would you like to speak and discuss on a specific topic? It should be related to CPF, investment and retirement issues. Let me know, and I shall allocate a slot.

    Terence Seah

  26. Hi Terence

    I would like to attend both sessions. Currency-Linked Investment (currency pairing/premium deposit) for yield enhancement and How to draw out all our cpf monies before the minimum sum is due for ‘cold storage’.

    Thanks.

  31. Spoke to Terence yesterday. Promised a topic for the 31 Aug talk.

    A quick one to Ron’s question “What will happen”

    IMO.

    Nag-tional Day, Olympics and US Election are round the corner and over the top. We’ll be told again to tighten our belts; make the sacrifices that we can ill-afford to; and to give more after we have given everything….. nag, nag, nag…. We can live with that. But we may have more than just nagging worries about long term cycles. This time, some may struggle and not make to the opposite shore. And “some” is the optimistic scenario.

    China is in a super bad shape. You cannot think of worse news coming on the back on bad news. Running up from the beginning of the year (pollution, algae, earthquake, terroists) to a couple of days ago (bomb, earthquake) the string of natural and man-made problems seems to escalate. The reaction (eg evicting residents to make way for shopping malls; stopping economy to save pollution; moving industry out of Beijing at immediate notice, short visas, heightened security etc) all have a massively negative multiplier effect of the economy. I felt since summer that a meltdown is expected. It has even started with reports coming that stocks have dropped 50%+.

    Coupled with China’s meltdown catalyst, we have the potential of USD free fall after the euphoria of Black Christmas in USA. Our economy. like much of the rest of the world, is open and very exposed to these two countries. If that happens the impact on our market and the world will range from negative to disaster.

    We are in the eye of the storm. Where are the safety rafts if Titanic sinks? What do we do now? What can we do?

    I will speak on “Controlling Personal Finances (CPF) – Inflation and Recession. A personal view. I will try to cover the survival strategies in stormy seas.

    PS
    Remember. Fortunes are made during adversities. Great fortunes are made during great adversities. Doom or boom. It is up to the individual and his karma. F

    or seniors, this may be the last bottom of a long term cycle that we’ll see in our lifetime. If we can make it, we can live to enjoy it. Can we make this our last tango?

  32. Hi KT,

    I shall allocate you the topic “Controlling Personal Finances (CPF) – Inflation and Recession. A personal view.” Please consider a time slot.

    Terence Seah

  35. Hi Terence,

    Am more concern about the issue of CPF whether will be freeze in cold storage during my retirement age. Kindly include me in the session & looking forward that the topic could help me find a solution before minimum sum in the cold storage.

    Cheers!

    Judy

  38. Sengh, you got KT the wrong CPF….he shdnt be speaking on Control Personal Finance when he’s still under his wifey’s control; KT is at his best Caressing Papaya Fulltime.

    Wont take a seat but do please reserve the entire Scorebot tree for me and my butties, and a length of rope for us to swing in and out of the seminar room. We’ll also put up a trellis for those interested.

    Now my take on what obviously is KT’s epitaph of China.

    Yes, Gourd and heaven didnt treat China too kindly from day 1 of 2008 but is there a need for anyone to therefore move his finger from playing his belly button to pressing the panic button?

    China is so huge ans so densely populated that it’ll hv to take the whole kampong of osamas to work overtime to put away a fraction of China but even for that, they wont hv the luxury of time. Or resources, however fierce the terrorists may grow more and longer beards to look.

    Bad news do not betide China alone. That Sengh will hv a headache seating an influx of attendees at Scorebot are bad news. But knowing what is to happen and with the time to take the necessary preventive/remedial steps Sengh will let some sit on his head and the gals on his laps. He will breeze thru. And so will China.

    Yes, there will be some hiccups but not enough to make a trepidation that will grind China, or Sengh, to a halt.

    Granted that the spate of bad news will hv a negative effect on China’s economy but to describe it as a meltdown is tantamount to seeing a Singh in Sengh. China has put together a pretty good team led by a leader whom, in him, I see character and ability.

    That the US is in doldrums, floundering – with the USD free falling – is not in doubt. And this presents an opportunity for China to shake off its “dependent” tag and assume the role of leadership if she can overcome her complex. If she thinks she can she can. A test of mind over matter.

    I am no doomsayer this time. I trust that if we can play our trumpcard well, with so much in our reserves, we can and will win big. Not from our own casinos, not $ into Shin Corp or even Morgan & Stanley, UBeAss but selectively into China. And the Middle East.

    Goodbye Uncle Sam, Adious Yankees.

    Thankfully, KT did hold out some hope in his PS. But bad habits die hard, he had to associate his hope with your bottoms. So do wear at least 5 pairs of jeans and 20 pairs of underpants. Come prepared………

  43. Deer Sengh, I hvent been this honest in my life but when I honestly asked for the Scorebot tree you gave me a chair to sit on. Do please please give my seat to someone who cant climb trees and let me happily perch on the branch outside overseeing everything. I am serious and if I need some coolness of the aircond, I’ll go in to stand for 5 minutes and up the tree I go again.

    Credit to you for enthusing so many SHCians to want to hear KT telling how, with his wifey Controlling Personal Finance, he now finds Caressing Papayas Fulfilling………….

  46. Hi TimL #43,

    The durian tree has been moved into the talks room, so I guess you can swing beteween the durian tree and the tree outside, along Bali Lane with the crows.

    I shall figure out what to do to make it comfortable for the CPF and retirement talks, by fellow SHCians.

    Terence Seah

  47. Hi Tim Liu

    I fully concur with your views on China and USA. Thank you for putting it so clearly.

    It is Thailand that I think will be a hugh problem to SEAian economy but I have not heard mention of it from ‘experts’.

    When the King dies and the dynasty ends I fear for the Thai people and my investments in Singapore.

  48. HiTerence,

    Please register me to attend session 2 session 3 of the CPF investments / retirement talks on Sunday, 31/08/2008.

    Thanks

    Bernie

  50. Sengh, as it pleases you then. (Knn, limbei horsim help you solve the headache of finding more seats and you how lien gay kiang, limbei bo chap liao).

    Tian Soo, it pleases me that you accept my views (and so it fortifies the belief that great minds think alike).

    Yes and verily if Thailand do not find stability in government, there’ll be waves, not least, given that Khunying, who has good support, is sentenced to 3 years of imprisonment. But I shall refrain from saying more lest it drifts into the taboo of politics.

    Collectively, as citizens of ASEAN, we fervently wish them well. And in so doing, we will enjoy stability in the region as well.

    Cheers ! (also becos me going home liao)

  51. Tim, for all your horsim, I have been thinking how to strap you to a chair, between the two trees; and catapult you over to the large piece of empty land.

    Terence Seah

  52. Hi Terence
    Wld like to attend all the sessions, but looks like there’s no more place? Didn’t realise the max is only 20 pax. Can put me on reserve list? Guess this is a subject close to everybody’s heart (or pocket?)
    Many thanks for bringing up this topic. Hope to be able to squeeze in.

  53. Marg, ignore Sengh’s quota lah, just go, he cant throw you out. The smallest of touch on you is deemed a violation of modesty which will land him days growing tapioca at the plot next to the changi bungalow. But if he thinks he’s clever and provide only 20 chairs, no issue still……..we do the stack up. You sit on my lap, then another can sit on yr lap and……..likewise for the other SHCians sitting on other chairs.

  54. Hi Terrence, anytime after 2 pm is fine. I’m easy. Just let me know which time slot I’d be allocated. If a white board is available, that would be helpful. Thanks.

    Charles, you are right that CLI pairs 2 currencies – base and alternate. Since SGD is our home currency, most of us use that as the base. I will share more at the talk.

  55. Tim @ #38 & 43

    Hee-hee.

    Given your overwhelming interest on durian trees, I will design a trilogy of follow-up talks.

    (1) How to share with your loved ones a fairy story retirement in your own piece of Paradise-On-Earth (POE) using your own DIY synthetic fund management.

    (2) How to make a fortune out of CPF and keep it in cash to fund your piece of POE. Also, how to be a tax exempt alien in your own country. Now!

    (3) Love doesn’t work? Plan B is how to win custody, control your alimony, protect your assets and leave unloved ones next-to-nothing without pre-nuptials and lawyers. Except in- resident; on -the -tree lawyer like Tim, of course.

    I am taking popular requests. Any more? Akan Datang….

  56. Hi EleanorC #54,

    Your time is confirmed for 2pm. (1hour). And yes, I shall arrange a white board, plus large screen and and PC connection. If you like, you can bring a thumb drive with the .ppt presentation. Thank you for sharing this session with other SHCians.

    Terence Seah

  57. Hi everbody,

    If you are in the banking, insurance, forex, etc, and am familiar with CPF, retirement and other investment issues, and can make it simple for guys and gals like me, to understand, please raise your hand. We like to hear from you.

    And, if you like to hear an important topic being discussed, let us know.

    Terence Seah

  59. Ha HA Ha!

    Yew Kwong, Your name is up for session 0. Will join you if I can make it.

    Terence, day event from 12 noon to 8pm??? Please specify time and duration for each talk for the benefit of attendees.

  60. Talk 2 with no speaker has attracted 23 attendees already but the 3rd talk with KT as speaker has only 16 todate.

    Either this world is getting stranger with folks wanting to listen to nobody or that KT isnt selling himself well enough. Perhaps, he shd re-do or re-invent himself such as doing a belly-hop in his G-strings as a curtain raiser to his talk. If there’s 1 humsuplor in the audience, surely there must be 3 humsuppors in there……………….

    KT, try it.

  61. Hi Terence

    Someone did ask me where got session b4 session 1 thinking it was a joke.

    Those who cant join sessions 1 to 3 as seats hd been fully taken up can now join Sexsion 0. Cya n others on event dy.

  62. Hi Yew Kwong,

    I couldn’t think of a session for what you are thinking off. So, I guess I quickly put is as Session 0. I wasnt expecting large numbers, in view of the topic. Guess 5-10 persons would turn up.

    Well, YK and OiCheng, I shall reorganise Session 0 as between 12nn and 8pm. Will have chairs, but for those with no plans to attend the CPF and retirement sessions. Really for those wanting to get to know one another better, and meeting new and more friends. Have fun.

    Terence Seah

  63. Hi Terence

    TQ 4 the GREAT argmt. Members in Sexsion 0 can now hv 8 solid hrs 2 mingle ard n chat each other up w/o interruption. Who knows they may even adjorn 2 some other plcs aft 8 after getting the rite match.

  64. For those thinking of not coming to the Sun CPF and retirement talks gathering, we have a suggestion from Ivy Low in HK for a webcam recording of the CPF and retirement talks. Can I ask if anyone is famiiar with doing webcam recording? Please raise one hand.

    Meantime, I would look at using star-conference.com to broadcast live the presentation and the voice, over the internet. This will enable those at home or overseas to see and hear the presentation. Do try to log on to star-conference.com, at least once. Also, mesti have speakers. Have fun, always.

    Terence Seah

  65. Hi Terence,
    Just realised the second session has no EO. Why don’t you ask Robert Quek to chair the session? He’s a good speaker and knows his stuff for a no-nonsense topic like CPF.

    Just my 2 cts worth.

  68. Hi Terence,

    If possible I like to attend all the sessions.

    Wonder if anyone has contact to use a lecture room for these talks.

    Warmest Regards,

  69. Hi Patsy #68,

    Yes, do you have a suitable lecture-room place in mind. We are always looking for place. Appreciate some details.

    Terence Seah

  71. Hi Terence,

    Session 2 and 3 has NO starting or ending time.

    12noon – 8 PM ???

    Can you pls.state the exact time in your programme so that I can drop in for one CPF session and then head on to my friend’s housewarming party on the same day.

  73. Hello Tim
    Thanks for the tip to get round the overcrowding. U be my witness/advocate ok?
    But looks like not necessary ‘cos his 20 pax ‘tak pakay’. The list is getting longer n longer. Looks like some people will be sitting on top of one another. Will try to be early, if not I’d like to sit on top n not be squashed below. Thot u like to be a monkey swinging from tree to tree? Are u still indulging in yr favourite pastime?

    Terence, I mentioned I’d like to attend all the sessions (#52). How come my name is not listed in session 3? Quick
    quick b4 the 20 pax is reached hahaha!

  76. Hi Terence,

    Will be there not to speak on any topic, maybe just some views since I have gone past 55 and knows what I got, when I cannot get, and dont know what the future begets on the minimum sum, I am trying not to forget. Guess I will gate crash like Tarzan through the windows. Cheers.

  77. Marg, it’s clear that, with a maximum seating capacity not exceeding 25 on the 1st floor of scorebot, Sengh is in deep trouble. He asked for it. Instead of thanking tim in tears & with gratitute for offering him a bunch of bananas, Sengh is now holding a hot potato. He cant eat it, cant throw it away but he might hide it behind his short pocket to look sexy on the day of the talk to deflect the flak.

    Well, he might finally take up my offer to build a trellis on the scorebot tree to seat all SHCians. Up there we can peel bananas, eat papayas and throw stones at scorebot and score points…..certainly, a fun outing not to be missed.

  78. Hi RonaldW,

    Can I ask you to moderate Session 2. Do start with sharing your experience and options, you have to go through. This is an important topic, and affects eveerybody below 55. Time slot: 3.30pm (1 hour). Ok?

    Terence Seah

  79. After his tutorial on Coconuts, i am sure Ronald-W could guide us thru his in-depth lecture on “After Retirement : What we can gainfully do with a Coconut?”

    Some of the tricks he can show us shd include how to soften the coconut husk with head-butting, how to peel the husk with teeth and dentures, how to suckle the coconut for its water and finally how to make a mattress from the husk that will ensure babies are made sleeping on it.

  80. Hi Terence,

    Time noted, thanks.

    I can touch a little more on forex since CLI deals with currency. Any particular aspect other than factors that affect currency movements?

    Actually, this weekend is an ideal time to talk on currency after the recent correction starting with crude oil.

  84. Hi Terence & all fellow SHCians.

    I would like to know if there’s any way to beat the system, get our money out of CPF before the Government introduce more rules to log out our hard earned money, and refuse to give it to us. And they only hand out pittance at a time when we really need it, and when we finally bade farewell to this human race, they hand the money to our next of kin.

    I will be there on 31 Aug. Like RonW, i will gatecrashed in, since i suppose registration is already closed now. Perhaps we can do a song & dance item to distract the people, and try to elbow our way in ?? hee ..haw

  85. Hi Terence,

    I wish to participate in S2 and S3 with the hope that you may extend the number of partcipants. However, if it is already closed, perhaps you may consider having a repeat on another Sunday? Appreciate your efforts!

    Regards,
    Grace Kok

  86. Hi Ronald Wie, please have a look at comment 78. Can you give us the various options, based on your experience, since you have just crossed 55. Please let us know if you can moderate this session at 3.30 pm.

    Terence Seah

  88. Hi Terence,

    Ok will share what I have been through and what I know. But if there is anyone who is in the CPF board and knows more please volunteer to share with us what you know too.
    Actually most of your CPF monies, your withdraw amount, your min sum amount etc can be checked on line if you have Singpass password or the CPF password too.

    Will try to demo this too if we have time, so that people will know where to find their personal info online and to verify their balances in the various accounts, of course in private.

    Cheers

  91. “I would like to know if there’s any way to beat the system, get our money out of CPF………”

    Sorie, Lydia, absolutely no way. But if you’re so angry & frustrated that you must at all cost beat smthg, then you can take a broomstick with you when you next call on the CPF and start whacking and beating up everyone and everythg in the CPF office.

    There may be a slim remote chance that if you beat up the right official, he might change yr age to 99 years in his computer and let you withdraw all yr money………..

  94. Before the CPF talks, you may wish to get yourself updated to what’s generally available out in the market today.

    Here’s an investment fair date worth keeping. It’s this weekend at Suntec. It is a good opportunity for you to get independent and objective answers on questions and issues for our own panel at our own SHC CPF talks.

    http://www.investfair.com.sg/about.html

    It gives a helicopter view of different vendor, financial institutions and investment products available in the market today.

    Hint: Don’t rush out to invest in a hurry before you can discuss it with your SHC friends at the end of the month. If you lose money, no amount of NTUC vouchers will make it up to you.

  97. Hi Terence,
    Wow , nearly missed out on this if not for Jie who has just informed me .Hope its not too late.!I would like to join Eleanor Chan’s currency pairing /premium deposit talk.
    Thank You.
    gracew

  100. Hi Terence!

    Do U realised my name was repeated twice at 3rd session?
    Sori, my fault. I registered twice. At 1st I requested for the 3rd one only because I didn’t know yr timing. Then, I requested for both 2nd & 3rd also.
    Just in case someone else wants to come & the number should be at 23 only now.
    Tku.

  102. Dear Terence, due to some changes, I have a FREE weekend!

    So, will dive in Scorebot at about 1pm, attend whatever ongoing sessions… boleh? :D and ketchup with frenz.. on a beautiful Sunday afternoon!

    TQ, ChristinaCL Chan

  103. For those overseas or not able to come to this event on the Sun, 31 Aug, CPF and investment chat, you would be able to listen to the discussion LIVE via SHC Online. You are also free to text chat with us.

    For more info, please look at SHC Online or log in to:
    http://www.star-conference.com. Time: 1330 hrs to 1800 hrs, Sun 31 Aug 2008.

    Terence Seah

  105. Hi RonaldW and friends who have just crossed 55,

    I was having a dinner chat with a friend who just crossed 55. I was surprised when my friend told me that an apartment bought with CPF funds can be considered as the minimum sum. Therefore, this means that if one has say 120,000 or 20,000 in the CPF, one can withdraw the full 120,000.

    RonaldW, is this true?

    Terence Seah

  106. Hi Terrence,
    check this link
    http://mycpf.cpf.gov.sg/CPF/my-Cpf/reach-55/Reach55-2.htm

    Not sure if you are affected but they have changed the rules for the younger people. Previously, housing bought with CPF could be considered as min sum. Today, only 50% of min sum can be housing.

    Main rationale was what PM mentioned in one of his speeches: Singaporeans are asset rich (even millionaires!) but cash poor. They just realised that many had spent their min sum cash & now asking for the govt’s help with living expenses

  108. Hi Terence,

    You must obtain consent from all co-owners of the property before you can pledge your property in lieu of part of your Minimum Sum. The amount that you can pledge for your property depends on:

    * HDB’s quarterly average median resale prices for HDB flats or valuation price for private properties

    * Outstanding loan amount (non-housing loan inclusive for private properties)

    * Co-owner’s CPF usage (if applicable to joint-owners) and;

    * Your share of the property.

    Examples illustrating the amounts that can be pledged:

    EXAMPLE 1

    Where the co-owner’s CPF usage is less than 50% of the residual value of the property

    HDB’s average valuation price :
    $300,000

    Less Outstanding HDB loan :
    $150,000

    Residual value :
    $150,000

    Co-owner’s CPF usage :
    $40,000

    Member’s share :
    $75,000

    In example 1 above, as the co-owner’s CPF usage is less than 50% of the residual value, the member’s share of the property would be based on 50% (assuming that the property has only two owners with 50% share each) of the residual value. He can pledge the property up to the maximum limit of $53,000 if the Minimum Sum applicable to him is $106,000.

    Secondly you may submit your cash annuity policy/policies for CPF Board’s consideration if your policy/policies was/were bought from approved insurance companies (Annex A). However, the annuity policy/policies must satisfy the following conditions:

    1) The annuity payment(s) must be for life and will only cease upon your death. The annuity payment(s) must be payable when you reach the Minimum Sum draw-down age, currently age 62.

    2) For full Minimum Sum exemption, the annuity payment must not be lower than the monthly payment payable by CPF Board. If the annuity payment is lower than the monthly payment payable by CPF Board, partial exemption will be granted. You will then be required to set aside a reduced Minimum Sum. This reduced amount may be in the form of cash or a property pledge.

    CPF Website has an FAQs page that addresses many question about CPF issues and retirement issues at the link below:-

    http://mycpf.cpf.gov.sg/CPF/Templates/SubPage_Template.aspx?NRMODE=Published&NRORIGINALURL=%2fMembers%2fGen-Info%2fFAQ%2fRetirement%2fMinSum%2ehtm&NRNODEGUID=%7b941D7696-6DBE-41A0-9F45-80D3F449876C%7d&NRCACHEHINT=Guest#Q16

  109. For participants of the Sun, 31 Aug investment, we have about 40 people. I dont think the upstairs of Scorebot can take more than 40 people. For those who have registered their names, you should go upstairs 10 mins before the event.

    Eleanor Chan starts at 2pm. Ronald Wie starts are 3.30 pm and KT Wong starts at 5pm.

    ** Eleanor covers “Currency-Linked Investment (currency pairing/premium deposit). Investment in this financial instrument is mainly for yield enhancement.”

    ** Ronald Wie moerates the topic on CPF minimum sum and what other SilverHairs do when they reach 55. Altho the options are limited and do change from time to time, it would be nice to listen to those who have experienced the minimum sum.

    ** KT Wong talks on “Controlling Personal Finances (CPF) – Inflation and Recession.”

    Please remember to be sitted 10 minutes before the event time. If this program works, we may organise similar programs at a later date. Meantime, please also use this occassion to know other SHCians. For those unable to attend, you may log into http://www.star-conference.com to list to the on-going session LIVE. No Helpdesk will be available during the session.

    If you are not participating in the talks, you can sit downstairs or outside and watch the crowds go by. Have a fun Sunday.

    Terence Seah

  110. Hi Terence and All

    A WORD OF CAUTION

    Scorebot building is built in pre-war time. the structures are very old. As what Terence said #109 the upstair would not be able to accomodate 40-odd members, I would suggest please check the BUILDING LOAD, is very important, and necessary.

    Have a nice meeting.

    RonLai

  111. #103 Terence Seah Says

    Hi Terence, looks like I would not able to attend the event. Would log on for the discussion LIVE via SHC Online. Thanks so much for the arrangements.

  113. Hi Terence

    Thank you very much for organising this event and thank all the speakers on the various subject,

    I have benefitted a lot just be listening to the speakers and questions from the floor. Now, I can talk intelligently to my financial planner.

    Additionally, I met up with many friends, but there are a lot more I do not know. Looks like I need to work much harder at it.

    Cheers and have a nice stay before returning to Thailand.

  114. It is not often that I, and also the rest of us, get to see one another in a serious sober session like today’s CPF, investment and retirement talk. We definitely have many social activities. But, today, my impression changed as I see fellow SHCians engage in serious CPF, retirement and investment issues.

    As some of us have not reached 55, we are concerned if we will ever get to touch our CPF monies. The current rule is that, at 55, we can draw out all except the minimum sum.
    However this 55 goalpost will probably shift, for those who are currently below 55. Ronald Wie advised that we use the CPF calculator, which can be found on http://www.CPF.gov.sg.

    The minimum sum will also increased, and the withdrawal age will also increase. Both KT Wong and Ronald Wie advised reading http://mycpf.cpf.gov.sg/Members/Gen-Info/CPF_LIFE/CPF_LIFE.

    I found the sessions valuable, and had picked up a few pointers. One area which sparked my interest was buying annuity years before one reaches 55. Today, we had also good contributions from Chow Weng, Jonathan Ong and Jessie Teo. Some have also asked for more such sessions. Well, if you have something to contribute, please raise your hand.

    Terence Seah

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