I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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Monday 10 January 2011

CPF savings main source of retirement funds for low-mid income S'poreans

By ANGELA TAN


Apart from the homes they own, the Central Provident Fund (CPF) savings are the main source of retirement funds for low and middle income Singaporeans.

Tharman Shanmugaratnam, Minister for Finance, told Parliament on Monday that the low income savers are less affected by the banks' deposit rates than the CPF rates, which are currently significantly higher than bank deposit rates.

In December 2010, the CPF Board announced that the interest rate on Retirement Account (RA) savings for 2011 will be maintained at 4 per cent.

An additional one per cent interest will continue to be paid on the first $60,000 of a member's combined balances, with up to $20,000 from the Ordinary Account (OA).

The additional interest received on the OA will go into the member's Special or Retirement Accounts to enhance his retirement savings.

Mr Tharman also said on Monday that the current levels of low interest rates reflects the 'loose global liquidity conditions'.

He noted that analysts believe this low interest rate environment could persist in view of the still weak recovery of the US and other economies.

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