Singapore Expats Forum

Retiring PR

Relocating, travelling or planning to make Singapore home? Discuss the criterias, passes or visa that is required.
PNGMK
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Re: Retiring PR

Postby PNGMK » Mon, 07 Aug 2017 11:20 am

mchambs wrote:Thanks PNGMK,
I'm a Penangite and planning to go back there for retirement. :-) So, I guess there's no other choices. Maybe I'll check with ICA before deciding on CPF life when the time comes.

Thanks


I don't think Malaysians have a choice - but I may be out of date - I thought they were stuck with CPF regardless and cannot withdraw.
I have gay, black, Asian friends and then JR8.

mchambs
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Re: Retiring PR

Postby mchambs » Mon, 07 Aug 2017 12:31 pm

West Malaysian can start to withdraw once they hit 50 provided tht they give up pr n can't work in Sg again. Most of my friends either went back much earlier or convert to become Singaporean especially when they hv kids. So, me odd one out :-)

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ecureilx
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Re: Retiring PR

Postby ecureilx » Mon, 07 Aug 2017 1:39 pm

mchambs wrote:West Malaysian can start to withdraw once they hit 50 provided tht they give up pr n can't work in Sg again. Most of my friends either went back much earlier or convert to become Singaporean especially when they hv kids. So, me odd one out :-)


And they can get it earlier if they are leaving West Malaysia and Sabah for Good !!!

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Re: Retiring PR

Postby mchambs » Mon, 07 Aug 2017 10:40 pm

Spoke recently to a financial advisor and he suggested to rent out your place to incur some income taxes and hence ICA may extend your REP. What do you guys think?

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Re: Retiring PR

Postby PNGMK » Mon, 07 Aug 2017 10:47 pm

mchambs wrote:Spoke recently to a financial advisor and he suggested to rent out your place to incur some income taxes and hence ICA may extend your REP. What do you guys think?


I hardly think it helps.
I have gay, black, Asian friends and then JR8.

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ecureilx
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Re: Retiring PR

Postby ecureilx » Tue, 08 Aug 2017 6:57 am

mchambs wrote:Spoke recently to a financial advisor and he suggested to rent out your place to incur some income taxes and hence ICA may extend your REP. What do you guys think?
Know a guy who had two condos being rented out ... didn't help zilch when his REP came for renewal..

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Re: Retiring PR

Postby PNGMK » Tue, 08 Aug 2017 8:47 am

ecureilx wrote:
mchambs wrote:Spoke recently to a financial advisor and he suggested to rent out your place to incur some income taxes and hence ICA may extend your REP. What do you guys think?
Know a guy who had two condos being rented out ... didn't help zilch when his REP came for renewal..

Exactly - you're no different to any other offshore investor.
I have gay, black, Asian friends and then JR8.

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Re: Retiring PR

Postby mchambs » Tue, 08 Aug 2017 5:49 pm

Thanks for the inputs guys. Appreciate them.

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Re: Retiring PR

Postby CashewNut » Wed, 09 Aug 2017 10:16 am

I guess the whole idea of PR is that it's a stepping stone to citizenship and if come retirement you haven't converted then that's your fault. I'm a Brit. Won't be going back there for sure. MM2H might be my only choice and any others that have retirement schemes

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Re: Retiring PR

Postby PNGMK » Wed, 09 Aug 2017 9:34 pm

CashewNut wrote:I guess the whole idea of PR is that it's a stepping stone to citizenship and if come retirement you haven't converted then that's your fault. I'm a Brit. Won't be going back there for sure. MM2H might be my only choice and any others that have retirement schemes


Agreed - for earlier PR's on family ties like myself maybe it won't matter but for more recent approved PR's on the PTS they should be pursuing SC.
I have gay, black, Asian friends and then JR8.

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ecureilx
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Re: Retiring PR

Postby ecureilx » Wed, 09 Aug 2017 10:36 pm

CashewNut wrote:I guess the whole idea of PR is that it's a stepping stone to citizenship and if come retirement you haven't converted then that's your fault. I'm a Brit. Won't be going back there for sure. MM2H might be my only choice and any others that have retirement schemes
Years ago it wasn't so.. I re: PR. Alas things have changed..

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Re: Retiring PR

Postby RobSg » Thu, 10 Aug 2017 10:09 pm

I'm glad I read this thread.

I was under the impression that if you retired in Singapore and had been a PR for a number of years, as long as you were financially stable in retirement, you'd have your PR (REP) renewed.

I still look at this message board every week to see how life is in Singapore, as I was there for 25 years, and it was certainly home for me.
Before retirement, they renewed my PR for 10 years, but I returned to the States and withdrew all my CPF. As long as renewing PR in Singapore as a retiree is uncertain at best, I'm glad I opted to return here.

Living 25 minutes from Vancouver, BC helps. Also, for the past month, we've had considerable haze in the PNW due to all the fires. Hmmm. I'm trying to think of what other country has that issue.

Rob

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sundaymorningstaple
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Re: Retiring PR

Postby sundaymorningstaple » Thu, 10 Aug 2017 10:54 pm

Hey Rob, How's it going. Good of you to drop in occasionally. I've finally accepted the fact that I'm aging a wee bit as well. I should receive my 1st SS check on 3Oct as I'll turn 70 on 1 Sept. So, they aren't going to add any more too it, so no sense deferring it. It's only a token anyway as like you, I've been here far too long, (just passed the half way point in my life in Singapore - 35 years this past June). Yeah, sounds like Vancover reminds you of Sillypore what with the Indo haze here and your own version over there. In theory I'm locked in where I'm at for another 5 years but one can never tell, what with the world events in this particular part of the world. We've got a loose cannon in N. Korea and you have one south of the border on your side! lol

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Re: Retiring PR

Postby PNGMK » Fri, 11 Aug 2017 8:04 am

RobSg wrote:I'm glad I read this thread.

I was under the impression that if you retired in Singapore and had been a PR for a number of years, as long as you were financially stable in retirement, you'd have your PR (REP) renewed.

I still look at this message board every week to see how life is in Singapore, as I was there for 25 years, and it was certainly home for me.
Before retirement, they renewed my PR for 10 years, but I returned to the States and withdrew all my CPF. As long as renewing PR in Singapore as a retiree is uncertain at best, I'm glad I opted to return here.

Living 25 minutes from Vancouver, BC helps. Also, for the past month, we've had considerable haze in the PNW due to all the fires. Hmmm. I'm trying to think of what other country has that issue.

Rob


Good to hear from your Rob and I think you did the right thing. I am very tempted to move back to NC with my wife.
I have gay, black, Asian friends and then JR8.

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Re: Retiring PR

Postby taxico » Fri, 11 Aug 2017 3:43 pm

NC is beautiful... and not just in the fall... i used to live/work in Durham and enjoyed my time there, and had been thinking of resettling there in a few years' time...

decisions, decisions.
Aut viam ad caelum inveniam aut faciam


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