i would say the penalty is reasonable. being an optional retirement scheme, it does not suit everyone. it is not a saving account for your emergency money as well. so you need to make a decision before you put in money.


if your marginal tax rate is less than 8.x% bracket, you should consider not using it because the saving is small.

now assume you are in this bracket, you save 8% tax upfront. at retirement, you can spread the withdraw in 10 years and will be taxed for 50% of it. assuming you do not have income at that time and tax structure does not change, rough computation can show that you will pay pretty negligible tax.

if you need to withdraw early, then the question is why? you need to buy a house urgently? need to pay a ransom? to me, the most reasonable case is that you suddenly lost income. if this is the case, then you need to pay 5% penalty + currently tax. if you lost income, then the total penalty is not far away from the tax you have saved.

btw, once you open the SRS account, your withdraw age is fixed. further increase on retirement age does not have impact on you.

i understand the first post. i know the housing price has been moving faster than salary. it means for the next generation:


they have to get a smaller house and/or at more remote location.

someone with higher income will occupy larger, better house. he either fight his way to be that someone or he has to live with the reality. things are changing. i foresee average housing size here will move towards hk and japan. young people may view micky mouse units better than large units.

thanks for your correction. i did not want plan 2 anyway. so i might have not listen clearly. :celebrate:

actually, are these really good to a child even you can afford? :roll: i do not intend to buy him anything like a house or leave him a house after i die. that is their life. they have to learn how to balance their income and expense.

The biggest problem of the free coverage is that when it is over, your child may not get an insurance plan due to existing illness, touch wood. I chose not to take this risk.


Many shield plans in the market are very similar, be it from NTUC, Aviva, AIA, GE, etc. Whichever you choose, remember to buy the rider to cover deductible and/or co-insurance. Personally, I think deductible is more important. Typical hospital bill for A ward in Gov hospital is about 2,000. Without a rider to cover deductible, you may not be able to a single cent.

cherrygal, can I ask you when you were selling your old house, did some potential buyers come with agent? how much these buyer’s agent ask? do you need to agree with them before they bring people to view?

LLK:

Is it true that friends (no limit on how many of them) can jointly purchase private property for investment. Anyone can enlighten me pls?

No need to be friends. Technically anyone can pool money to buy property. People do that actually. Other than friendship problem mentioned above:

1. legally, all owners have the right to live in that unit
2. it is very difficult to sell your share only. so all owners have to agree disposal. it sounds simple but if one owner pass away and leave a messy estate issue, then you may be stuck

So, you may need to make necessary arrangement before jump in.

You need to see who tell you the level.


IAEA - promoting nuclear energy, so the level can be conservative
Green Peace - against nuclear energy, so the level can be exaggerating

The truth may be in between ba.

eteo, the balloting table does not split the distance.


From what I read from another post in KSP, in 2010, there is only 1 vacancy left after 1Km in 2C for ACJS. So, it is definitely a better bet for ACPS.

We let her know that she will get extra bonus of a few hundred dollars if she comes back. Carrots may be better than sticks.