CPF Question - I am PR and wanna start working again

[chrissi3]

Hi,

I have the chance to get a half-time job. As I am having two kids it is a nice opportunity to get out of the house after so many years.

Now I am quite shocked about the CPF I have to pay for a chickenfeed salary. (leo recommended this phrase....)

2000 SGD means 290SGD from employer side and 400SGD from my side.

I am right, that I get only 1600SGD then??

Any help is appreciated!
cheers

[sundaymorningstaple]

No. You get 2,290/per month. You are saving $690/month and drawing more interest on it that you will get an the bank on a CD.

[chrissi3]

so, that's what I wrote.

2000 minus 400 is 1600 SGD cash at the end of the month. Plus 690SGD/month CPF which I only can withdraw when I am leaving Singapore...

That is quite a high amount I can't use unless I am leaving this country.

I was not aware of this

[sundaymorningstaple]

You signed on the dotted line for PR without reading the fine print?

[nakatago]

You signed on the dotted line for PR without reading the fine print?

I believe using this would be appropriate:

Code: Select all

[img]http://img25.imageshack.us/img25/5843/facepalmiz.jpg[/img]

[Saint]

so, that's what I wrote.

2000 minus 400 is 1600 SGD cash at the end of the month. Plus 690SGD/month CPF which I only can withdraw when I am leaving Singapore...

That is quite a high amount I can't use unless I am leaving this country.

I was not aware of this

But you can start withdrawing CPF when you reach 55 as proper PRs do

[sundaymorningstaple]

And people wonder why, after 6 years of doing this, I sometimes get sarcastic (or cynical).

Personally, I think I am an excellent example of restraint.

[revhappy]

Atleast you have got a part time job and you can take care of your kids, most likely because you are a PR. If you were a foreigner you might have not got that.

See beggars cant be choosers.

[chrissi3]

Atleast you have got a part time job and you can take care of your kids, most likely because you are a PR. If you were a foreigner you might have not got that.

See beggars cant be choosers.

Hi,
thanks, you are right.
After having been here for more the 7 years I really appreciate now working again.

I was able to get the salary plus my CPF deduction on top.

@sundaymorning.... your posts are not very helpful

@others
thanks and cheers

[JayCee]

@sundaymorning.... your posts are not very helpful

And clearly you're not very bright, I'm really interested to know what your new job is doing!

You didn't answer the question before - did you sign the PR forms without actually reading them?

[x9200]

@sundaymorning.... your posts are not very helpful

And clearly you're not very bright, I'm really interested to know what your new job is doing!

You didn't answer the question before - did you sign the PR forms without actually reading them?

Welcome to the world of rhetorical questions.

[nick1kc]

if i not wrong, the cpf deduction is 20%.

[sundaymorningstaple]

if i not wrong, the cpf deduction is 20%.

You are wrong.

It could be as high as 20%, but could be as low as 14% depending on both the age and the salary of the employee. Which reminds me, there is a CPF adjustment with effect the 1st of Sept for anybody who are PR's or Citizens reading this. So you will see an increase of your "total" CPF contributions (employee and employer contributions) in your Sept pay.

[therat]

CPF Contribution and Allocation Rates from 1 September 2010 to 28 February 2011

http://mycpf.cpf.gov.sg/Members/Gen-Inf ... s/ContriRA

[singaporeflyer]

@sundaymorning.... your posts are not very helpful

I can't accept this part of your comment.

SMS says things straight and the bitter part is we can't accept the truth and reality.

Just browse through the forum and you will see how valuable is SMS in this forum. There are tons who have thanked SMS for his help to them in this forum.

He is one of the seniors in this forum who tries to answers most of the tough questions within a day of posting.

We have to be humble and thankful to him.

Don't conclude that a post is not useful since it is not the reply that you had expected. Sometimes we have to accept the reality and see how we can move on

Don't be disappointed by this post.

Good Luck !!