PR Approved

[Clive Lim]

Hi I just got my PR approved, and i need to complete with the PR formalities,however my employer refused to sign the Form EP152, any member encounter this issue ? What should I do ?

Much appreciated.

[sundaymorningstaple]

The easiest way would have been to just go to the ICA website and check out the FAQ's.......

http://www.ifaq.gov.sg/ICA/apps/fcd_faq ... #FAQ_30162

[ful babu]

If it is in the FAQ , must be a very common case ... I am just trying to understand here, what can the company possibly might get out of this ?

[sundaymorningstaple]

Lot's of company's do that. They are being spiteful because unless they remembered to write something in the contract regarding going to a local contract, it will cost the company money as they will have to start contributing CPF for that employee, who was probably on an EP (not an S Pass) so therefore didn't have to pay any levies, now they are saddled with extra expenses. If it happens to be the case, I don't reckon the OP will be there too long as the company will find a way to either get rid of him, or he will jump ship like most do anyway, in order to find another employer and maybe either a raise or better position or both. Sadly, if he's a 3rd world new PR he will jump ship and end up making a lateral move only.

[Wd40]

The easiest way would have been to just go to the ICA website and check out the FAQ's.......

http://www.ifaq.gov.sg/ICA/apps/fcd_faq ... #FAQ_30162

Interesting! I didnt know this.

BTW, reading the title I was telling myself, "PR approved? so whats the big deal, with a name like that you are already a Singaporean"

[ecureilx]

The easiest way would have been to just go to the ICA website and check out the FAQ's.......

http://www.ifaq.gov.sg/ICA/apps/fcd_faq ... #FAQ_30162

Interesting! I didnt know this.

In Fact, years ago, it was a common rumour perpetrated by the "Mother Land" friends, that you can't even apply for PR without the full blessing of the employer

Not true, for that matter. FYI

[Wd40]

The easiest way would have been to just go to the ICA website and check out the FAQ's.......

http://www.ifaq.gov.sg/ICA/apps/fcd_faq ... #FAQ_30162

Interesting! I didnt know this.

In Fact, years ago, it was a common rumour perpetrated by the "Mother Land" friends, that you can't even apply for PR without the full blessing of the employer

Not true, for that matter. FYI

There is also this unverified thing told to me by so many Indians, that once you give up your PR and withdraw your CPF, all the benefits and discounts would be subtracted from the CPF amount. This is not one or 2 people. So many people have told me this and none of them are related to each other. Also each one has their own theory of how PR is given.

[ecureilx]

There is also this unverified thing told to me by so many Indians, that once you give up your PR and withdraw your CPF, all the benefits and discounts would be subtracted from the CPF amount. This is not one or 2 people. So many people have told me this and none of them are related to each other.

And none of them experienced it first hand - i.e. to themselves, I am sure ..

Well, if somebody has a 'theory', the first thing I ask is, if they know anybody personally for whom something like this happened .. or it is a his cousins', sister-in-laws', grandmother's, fathers', daughter's, sister's .. story or ???

I know few people who left Singapore, as recent as last year, not always due to their decision, some, since their REP was refused, all got the money in FULL

And, not sure if this was mentioned here, the latest gossip going full story is Singapore is running out of money, and should anybody give up their PR, they will get the money in installments, and the logic behind it is, there are 10,000 plus Indian Bankers, each holding above S$ 100,000 in CPF = S$ 1,000,000,000 - 1 Billion (I hope I got the number of zeros correct ) - money that has to be returned .. so better to pack up and run, with all the money, than wait and find your money will be released in tranches ..

I am not going to get into the detail where the numbers come from and if Singapore will do what is predicted by the Mother Land Folks ! Or if All Indians are gonna pack up and run at the drop of a hat, on a short notice-including those who have bought apartments, cars, children schooling etc.

But I do like the Bollywood/Kollywood style conspiracy theories that come out, after a couple of KingFishers .. And the Indian Mind Reading / Telepathy skills are out of this world

[JR8]

With such schemes, I've always found it best to assume the money is gone. And indeed this is what happened with my sizeable employee stock scheme (10+yrs optional contributions + the bulk of my annual bonuses), and what has effectively happened to the UK's National Insurance scheme which gave a right to the state pension - gone.
I maintain the family accounts, and crank them about monthly. That's a) a balance sheet, and b) cashflow. What with moving around and stuff, we have assets and accounts all over the place, so it helps keep my sanity knowing roughly what is where.
CPF has never figured in this calculation.

[Wd40]

Yeah, its better to assume that all is gone rather than hope that you will get it back one day. Especially since, the natural course for long time PRs is to become citizens one day. At this point you may not want to become a citizen, but the longer you stay here, things can change a lot that you will either get pulled or pushed into citizenship and then once you become a citizen, CPF is anyways locked until a certain age and even then its only partial withdrawal possible, although I have to say, I haven't done much research on how CPF benefits work after retirement.

[JR8]

With employee stock schemes, it's how the bulk of any bonuses get paid, esp. when you get more senior.
Of course it's also about buy/tie-in; and who is going to be so publicly disloyal to 'sell-out' their employer [stock]?
That's why when cos. that pay like that, if they hit the wall, many people don't just lose their jobs, they face their future pensions evaporating to nil. It's pretty brutal. What price that loyalty?
--------------------
Assume it's nothing, assume it's gone => make your own provision, that no one else can F-U (but you, lol).
It's conveniently lazy to think anything is 'guaranteed', bullet-proof etc. There is no such thing.


p.s. WD - there you are. You're paying into something, and you don't know what it is or does, just that you have to....

[Wd40]

I used to work for a supply chain tech company in 2003,before the dot come bust the company was neck to neck with the likes of SAP and I heard plenty of stories of how people got stock options during the dot com bubble in the company. The share price at its peak was $200+ and by the time I joined in 2003 the price was like 50c. They were all paper millionaires, and it all went away like think air. But lots of stories I got to hear there. Also a story how accidently someone sold his shares at close to peak and then rued his decision when it kept going up. But in the end he was the one who actually struck the lottery as he bought a property with the proceeds.

[the lynx]

But I do like the Bollywood/Kollywood style conspiracy theories that come out, after a couple of KingFishers .. And the Indian Mind Reading / Telepathy skills are out of this world

Say, where can I find Kingfishers? Been looking for it ever since I tried it last year (sampled it during one of those Beerfest events here). I reckon that you wouldn't find it selling in regular pubs here, would you?

[Wd40]

But I do like the Bollywood/Kollywood style conspiracy theories that come out, after a couple of KingFishers .. And the Indian Mind Reading / Telepathy skills are out of this world

Say, where can I find Kingfishers? Been looking for it ever since I tried it last year (sampled it during one of those Beerfest events here). I reckon that you wouldn't find it selling in regular pubs here, would you?

You will find in Indian restaurants that serve liquor. Those in Little India and Clark quay. You will also find it in some departmental stores like yes supermarket, eecon, prime etc.

[Barnsley]

But I do like the Bollywood/Kollywood style conspiracy theories that come out, after a couple of KingFishers .. And the Indian Mind Reading / Telepathy skills are out of this world

Say, where can I find Kingfishers? Been looking for it ever since I tried it last year (sampled it during one of those Beerfest events here). I reckon that you wouldn't find it selling in regular pubs here, would you?

The UK version or the Indian version?

I had the Indian version on Saturday night at Tandoori Corner on Boon Tat street. Its 8% so a bit too bitter for me. The UK version is only 4% or 5% and is a lot easier to drink.