How Can Singaporeans Buy Other Annuity Plans When There Are No Other Annuity Plans!

(1) Tan Chuan-Jin did not answer the question – if Singaporeans could set aside more than $155,000 to get higher payouts

Yesterday in Parliament, Ms Foo Mee Har asked the Manpower Minister Tan Chuan-Jin if “Singaporeans who wish to set aside larger sums than the Minimum Sum of S$155,000 in their CPF in order to secure higher monthly payouts of more than S$1,200 for retirement incomes” could do so.

Tan Chuan-Jin did not answer the question directly.

In effect, he said no.

(2) Tan Chuan-Jin did not answer the question again – how the CPF Life payouts are calculated

Ms Foo Mee Har pursued her question. She asked why there is a need for the government to set a cap for members to top up to the prevailing CPF Minimum Sum.

She also asked the Manpower Minister how the structure and funding mechanism for CPF Life was decided.

Tan Chuan-Jin replied with the textbook answer that $1,200 was computed for the living expenses for a lower-middle income family.

He still did not answer the question – he still did not explain how the calculations behind the $1,200 CPF Life payout.

(3) Tan Chuan-Jin did not answer the question – there are no other annuity plans in Singapore, then why did the Tan Chuan-Jin say so?

Tan Chuan-Jin added that middle and higher income Singaporeans have the flexibility to use other retirement systems and annuity plans outside the CPF and this is “more progressive”.

Ms Foo Mee Har shot back at Tan Chuan-Jin – she said that Singaporeans would do so if they could, but there are no other annuity plans which exists in Singapore for Singaporeans who would want to buy annuity plans outside of CPF.

Tan Chuan-Jin kept quiet.

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37 comments

    • landragon123

      Jasper, if you do not know anything, shut up. The CPF minimum sum is the work of the PAP to suck all future monies and stay with the sick PM forever. The PAP have lost so heavily that there needs this money to ROLL. I maybe wrong, but the returns of the CPF life is the lowest of low and I have figures to show it. I am not an insurance adjuster but was an insurances agents for about 12 years with the big boys..
      When the PAP wants to be the only underwriters for CPF, who dares steps into the market. This is exactly like our CEA insurance, which have only one broker for the whole industries. Lee Kuan Yew started to have few underwriters for all insurance but LHL narrows it to ONE for the HOUSING Agents. We pay through our nose for a license, pay high premium for the insurance as there is only ONE any only. We have to attend useless course of 6 points to renew our licenses and license expires in
      December BUT we have to complete our useless course by October and the Out source collectors for the FEES will start calling to remind us that if we do not follows their dates, we will be bar from registeration. On top of that, if we did not top-up our Medisave, no license for US. In fact we have already more than the Minimum sum but still needs to top-up?

      These high hander policy can only be done by a very SICK PM and his Cabinet. We pay $130 and now pays thousand and waste our time taking useless courses. What I mean, I only does rental and sales of private properties, why must I take courses of the HDB and many others. If it is not a waste of time, HOW do the Minister in Charge calls it? The stupid new CEA was started because IEA chief and MBT are both Hainamese and both share the most stupid ideas in a new AGENCY call CEA.

      Now tell us how many BLACK sheep were caught after this agency was started and who is the owner of that one and only Insurance Broker? If this is not corruption, what can we call it? Most IEA presidents left after ONE term but this IEA Haimanese stays on and on even he was voted out and came back again. It is as if the IEA is his private properties as he started as it Secretary for many years.
      CAN the AG office now does an audit on this matters as we Properties Agents are the cornered by IEA and CEA which have similar policies when one is private and one is Government?

  1. I Porked Oracle's Wife

    Oracle’s wife is an insurance agent.
    I’m sure if you give her a call, she will attend to your annuity needs.
    She is a full service insurance agent.

  2. The Oracle

    I did a Google search for “annuity plan singapore” and three of the first four results are:
    – PRUgolden Income
    – Great Eastern Insurance (retirement plans)
    – NTUC annuity/guaranteed life annuity

    Roy, next time, before shooting your mouth off, at least do a a basic web search!

      • microsoft furbee

        why city harvest owe money? why city harvest cant print money? why city harvest can open bank? why lee can print money? why lee can open bank? why iras or your judge lawyer say funds fraud why dont open bank give each worker and student 50000 credit point cpf atm card 40 outlets? why other country owe money? why does your gov dont allow company to print money? ask them loan owe bank work monthly? when you can print bird plane loan 750m build 40hdb no one say can build hdb no one say 750m how about 15000m give each worker 1m and student another 1m sgd monthly 1note? who give lee permission to print money? kate never say who say need gold bar kate never say. why city harvest need to report to your court room when your court room hang kids your gov dont want look after ask company go into debt now they got money you want to jail them your gov corruption or your judge? cause your gov pap got more money then city harvest 40 4dpools shop with licence 40 posb atm who say can? posb president can give 50000 credit bonus voucher card dollar all worker all student. your erp can give all worker student 50000 points why your gov say cannot are your gov or keeping money for the people? your army duty is to ensure all people have 50000 credit bonus every month add to pay who say fraud your lawyer judge cause lee got money he never say city harvest fraud. cause close they take company money invest in anything and if bankcrupt company close. does your bank want to loan money monthly yes or no ? does it matter where the money goes cause how much lee have is classified so why city harvest need to report to court room for why dont court room report city harvest how many people your hang when kids found drugs on floor think is sweets. so we think your court room keeping money we jail court room? why your judge lawyer all owe money is 40 company name open bank only need a computer record and some paper why no one can open report for to stop people from print money want them go in debt after work 40yrs then what for macdonalds work for monthly for lee for your court room? they can print 900billion 1note work for? your sch owe for they can open bank? cause drop your lee build 40 swimming pool gov money sgd turn to swimming pool who say can fraud even you report you can give worker pay company money gov money gov decide bank into posb why your lee take build pool? ceo posb decide loan or pay worker why lee take build pool? city harvest case drop they buy share same also. why dont you tell lee dont build swim pool? microsoft gov. kate queen.

    • landragon123

      You are right our Annauties was written by few Insurance Companies before the CPF came into effect. You can buy any annunties with your our monies but no with the Minimun Sum as that is compulsory by our Cabinet’s order or the Sick PM’s order. AM I right, please correct me if I AM wrong for 70 years old pioneer have low education but better than Lee Kuan Yew in many things except earning monies in Singapore as salaries for MP’s and Cabinets are the highest and only RICH Country like Singapore can afford.

  3. Deaf Toad's Toothpick

    Dearest Ngerng,

    Have you ever thought through before you made a post?
    A cursory check on the major insurance companies show that they have annuity plans.

    You’re getting from worse to worst.

      • landragon123

        My is Singalish while LKY speaks Queen’s English and He wrote Crown English whereas I writes CLOWN English, to made some laughter in this sick country where there wanted to kill the mosquito to save the Citizens from been bitten by Mosquitos. There are only 7 deaths in 7 years which the PAP is try to kill all the mosquitos. Now PM, how much have you spent to kills the mosquitos so far and MP also join in the catching of this friendly insects?

  4. Where got time?

    Where got time to think through? Just like a loose cannon.

    To be fair, can you list down whatever you see good in Singapore done by gov to the people? Not just keep saying bad things which based on your shallow quality assumption.

    The question now, since you like ask question without any credible solution proposed. What happen to your donation money? You’re also need to be transparent.

    • Thank Roy for starting the CPF debate

      Not necessary to list the good the government has done. The government has the entire press to blow its own trumpet for that.

    • landragon123

      Hay, the good things is for Lee Hsiang Loong to said as he told the world that a woman without name wrote to him telling that the CPF and all it policies are love by HER. So when someone write good about PAP than PAP must be the best and he tells that to the WORLD. My question is how high is our PM’s EQ???

  5. V

    I am keen to know what type of annuity plans Ms Foo was referring to.

    Plus, it is puzzling why Tan Chuan kept quiet when she made such a remark, if this same remark was not true.

    • landragon123

      Our 3&1/2 stars generals have no answer as he did not know HOW? Maybe he did not even understands CPF policies as he is the 1st to object the Indonesian naming their Ships. What is wrong if PAP decide to name something call Mat Salamat
      , who will object? Maybe his parents as they will not wants their criminal son to be remembered forever.

  6. PAP Dumbkoff

    “The question now, since you like ask question without any credible solution proposed.”

    A question is still valid without a “credible solution proposed”.
    When you ask for directions to a public toilet …. do you also propose a credible solution to the person you ask?

  7. Bad PAPig Joke

    Bad PAPig Joke
    ——————
    Q: What is red and white and goes around in a circle?
    A: A PAPig baby who has been left in a blender by careless parents.

  8. Jim

    When the minimum sum is set, Prata Roy complain that it is too high. Now he is also not happy Singaporean cannot contribute more than the minimum sum?

    • Thank Roy for starting the CPF debate

      Roy made no such statement. This article is simply a report of the events which transpired in Parliament on this day of 6 August.

      • Jim

        How Can Singaporeans Buy Other Annuity Plans When There Are No Other Annuity Plans – That is his statement

  9. amazed

    For someone who professes keen interest to know everything about CPF, it’s amazing that he has no little understanding of the retirement planning alternatives.. There are many annuity plans around.

    • Deaf Toad's Toothpick

      Indeed. We can’t believe he spent 2 years on his life on researching and comes up with false reports. Waste of his time. I feel sorry for him, but then again he has $100k because there are many people in Singapore who are fooled by him.

      • @Deaf Toad's Toothpick

        ” Deaf Toad’s Toothpick” ———
        you said he comes up with false reports ?????????????? then, do you have genuine report about Temasek’s original fund comes from ? is any evidence support you ? we only see that you try to cover up the sin here. Only show one side of you immoral .

  10. Not happy

    Not happy with minimum sum. Not happy with government. Not happy with media. Later no surprise not happy with judges. Not happy with his lawyer. Bla Bla Bla what’s new?

    But he’s still smiling below.

  11. Roy

    How come the whole of your heart truths website is only dedicated to CPF. There are so many other persisting issues that PAP messed up with, and CPF is only one of them. So sianz to keep reading only about CPF issues at your site. Yawn!

    • CPF Affect All Singaporeans

      Roy.
      Keep your focus on CPF.
      You know you are on the right track when they retaliate against you with massive fire power.
      Other issues not as important as CPF which affects all Singaporeans.

      • landragon123

        Focus on our Sick PM for the next few months as the CPF is here for good no matter what you said, It is this sick man trying to TWEETED it for his own advantage as that cannot happened as his Sins are already too many and no GODS will help HIM and that is why he got a relapsed for his CANCEL. I call his father a Saint and it is his father who can help him but he sacked him but keeps GCT for both likes gambling and it is GCT who bring him into the Cabinet to carryout the wishes, to start CASINOS for Singaporean to loss their pants and go to Bedok Reserviour to Kill themselves as Man made Sins is told to Man Made Reservior.

  12. Martin

    Roy Ngerng Yi Ling ,
    you will never walk alone !
    In such harsh environment, you explore the truth. Make people aware of a lot of things, including the values​​, ethics, rights, life, cpf, etc. remember,honest man who never delete webpage, and hypocrisy are often honest emerged. any extreme dictator , will be subject to sanctions from the Worldwide.
    regards to your family .

  13. Richard Dacoury

    After we read , very angry! Singaporeans can expand through the United Nations Commission on Human Rights (Sub-Commission on the Promotion and Protection of Human Rights) proposed that the United Nations in world-wide Sanctions Singapore. Singapore leader r unwelcome !!!

  14. teoenming

    Singapore Minister Mentor Lee Kuan Yew and Prime Minister Lee Hsien Loong Want Teo En Ming Dead

    Singapore Minister Mentor Lee Kuan Yew and Prime Minister Lee Hsien Loong want Teo En Ming dead. Lee Kuan Yew and Lee Hsien Loong want Teo En Ming to die young. I am only 36 years old. I do not want to die young. I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!! I want to live to a hundred years old and beyond!!!

    In fact, I want to live forever!!!
    In fact, I want to live forever!!!
    In fact, I want to live forever!!!
    In fact, I want to live forever!!!
    In fact, I want to live forever!!!

    Teo En Ming has filed an official complaint against the Singapore Government at the United Nations Human Rights Council Branch and the International Criminal Court. Read the letter here:

    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************
    ***********************************************************************************

    Teo En Ming’s Open Letter (Plea for Medical Help/Assistance) to World Leaders dated 27 Aug 2010. Read the letter here:

    http://lists.mcs.anl.gov/pipermail/mpich-discuss/2010-August/007811.html

    Mr. Teo En Ming (Zhang Enming)
    Singapore Citizen
    Republic of Singapore
    14 Jan 2015 Wednesday Singapore Time

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