Employment Pass or PR?

phizzer15 · Post by **phizzer15** » Sun, 12 Jun 2011 6:52 pm

Am considering relocating back to Singapore from Australia. As my wife is Singapore, I can get PR easily (I believe, correct me if I'm wrong).

What would people advise? Get EP and forget CPF and rely on employer sponsor or get PR, easy for employment but contribute to CPF.

Keep in mind, this could be a 5-7 year move, and wife already owns a HDB so buying one is out of question.

All advice and comments appreciated.

Thanks

beppi · Post by **beppi** » Sun, 12 Jun 2011 11:57 pm

In the current climate most potential employers would not even look at your CV unless you are citizen or PR.

Mad Scientist · Post by **Mad Scientist** » Mon, 13 Jun 2011 4:47 am

In 5- & year time who knows...... maybe PAP will lose more GRC maybe the whole immigration policy will be overhaul or maybe no more intake of FTs

Hard to tell and only a clairvoyant can predict what holds in the future

phizzer15 · Post by **phizzer15** » Mon, 13 Jun 2011 2:04 pm

Thanks guys. Not so worried about finding a job, got one lined up. Question more related to financials and future. Does EP have same rights as PR with most things?

Post by **sundaymorningstaple** » Mon, 13 Jun 2011 2:19 pm

phizzer15 · Post by **phizzer15** » Mon, 13 Jun 2011 2:30 pm

With exception of owning HDB, NS and getting CPF, what else does PR get an EP doesn't please?

Mad Scientist · Post by **Mad Scientist** » Mon, 13 Jun 2011 2:37 pm

phizzer15 wrote:With exception of owning HDB, NS and getting CPF, what else does PR get an EP doesn't please?

Read this

http://www.ica.gov.sg/data/resources/do ... 080429.pdf

ecureilx · Post by **ecureilx** » Mon, 13 Jun 2011 2:39 pm

phizzer15 wrote:With exception of owning HDB, NS and getting CPF, what else does PR get an EP doesn't please?

Subsidised medical treatment, DPS under the Medishield, use of Medishield to enhance medical coverage, ability to have credit cards with lower credit limit (and also the ease to get yourself into serious credit trap. . look no further, me is one .. ), ease of getting services such as mobile/cable, without a deposit .. and so and so ..

Plus some fringe benefits, such as, contests and games where only ICs are accepted, though not officially mentioned .. EP and others get discarded .. like the MCD promo, they never said not to FIN, but the FIN were just never in the winning list ..

Of course, if you are loaded, you wouldn't fret about these I guess ..

phizzer15 · Post by **phizzer15** » Mon, 13 Jun 2011 4:37 pm

Thanks mate, very interesting.

My wife is Sg citizen, so she can help with a lot of those things I hope. Work should cover medical and mobile phone.

Main concern is, I'd rather keep all salary and contribute to my Aussie superannuation rather than contribute to CPF. So weighing up pros and cons.

And definitely not loaded ;)

Mad Scientist · Post by **Mad Scientist** » Mon, 13 Jun 2011 5:02 pm

Go with your Super. The CPF funds can only be withdrawn once you turn 55 and only at 40% of the total CPF amount you have and if you have more than $100K (approx.) go to www.cpf.gov.sg for more infos on this

ecureilx · Post by **ecureilx** » Mon, 13 Jun 2011 5:02 pm

phizzer15 wrote: Main concern is, I'd rather keep all salary and contribute to my Aussie superannuation rather than contribute to CPF. So weighing up pros and cons.

And definitely not loaded

You do partly sound like the load of indians who are loathe to pay CPF, insisting that they should be allowed to manage their own money than the govt doing it

Hence their preference to be on PEP

Well, did you mean, you want to pay to the OZ, so that you can continue to subsidise the blokes back home who need a break, and the earning few pay for the un-earning few ??

Honestly, I was stuck in no-man's land, about 7 years ago, when my employer folded, and smart me thought EP it is, and why screw up 35% of your pay (20% + employers handing to me their component as additional pay .. ) .. and being on EP, every visa extension was torture .. and the possibility of not being allowed entry if I left Singapore left me very excited about the prospects of being on EP. Add to it, as the market was hazy, too many employers were knights in Shining armours, offering me anything between 1,500 $ to 2,000 $ with an expectation of total loyalty with the reminder, "atleast you have job no ? better than nothing no ?? "

That being in no-man's land taught me a lot .. hence my aversion to be on EP .. and that's my own opinion ..

phizzer15 · Post by **phizzer15** » Mon, 13 Jun 2011 5:16 pm

Thanks guys, great advice. Not that I can manage my money any better, just makes sense to have it all in super or CPF I thought?

Now, my son. Don't want him to be citizen or PR due to NS (not that I'm against it, just hate the fact our choice now gives him no choice later in life). How is he affected? Local schools okay or higher fees? Can my wife sponsor him or only if he's PR?

Found Sg govt websites not overly informative, too generic and hard to get specific answers to our situation.

Mad Scientist · Post by **Mad Scientist** » Mon, 13 Jun 2011 5:35 pm

[quote="phizzer15"
Now, my son. Don't want him to be citizen or PR due to NS (not that I'm against it, just hate the fact our choice now gives him no choice later in life). How is he affected? Local schools okay or higher fees? Can my wife sponsor him or only if he's PR?
[/quote]

If he is an Aussie, SG wife can sponsor child under LTSVP . Your wife would be encourage by ICA to take dual citizenship which will lead to NS etc which is another separate topic altogether but having the choice of going local school with subsidize fees. If under LTSVP it will be higher fees and the queue for local schools will be long as priority goes to local then PRs
He cannot attain PR as your wife is a Singaporean
If you comes in as an EP you can bring your child under DP/LTSP/Student Pass. hence this will be easier route. We have one forumer who did just that manutd is his nick. Similar situation like yours

beppi · Post by **beppi** » Tue, 14 Jun 2011 11:05 am

I don't know the specifics of the Aussie system, but Singapore's CPF is sure as hell better than any pension scheme in Europe, where the money you pay now is immediately used to pay retirees now - and chances are that when you are old (and the gender ratio has changed) nothing is left for your upkeep. I treat any dollar I have to contribute into such a system as lost, whereas with CPF, I have a reasonably good chance to get some or all of it back.

carteki · Post by **carteki** » Tue, 14 Jun 2011 11:40 am

beppi wrote:I don't know the specifics of the Aussie system, but Singapore's CPF is sure as hell better than any pension scheme in Europe, where the money you pay now is immediately used to pay retirees now - and chances are that when you are old (and the gender ratio has changed) nothing is left for your upkeep. I treat any dollar I have to contribute into such a system as lost, whereas with CPF, I have a reasonably good chance to get some or all of it back.

Looks like you're wearing some of these...

Its way better to look after your own money yourself (and never give it to the government)

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