Aussie Pal: HDB Prices and Public Transport are Great, Mate! (But CPF Scheme Only So-So)

Posted on Aug 30 2015 - 5:20pm by Redwire Singapore

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CRIMSONTACTICS: Just had lunch with my Oz friend and he said some interesting things about Sinkies.

1) AMDK syndrome in SG

He find it very puzzling why Sinkies, both man and woman, are so crazy and opinionated about one having a AMDK/L bf/gf. In Oz, interracial marriage is common and there is no big hooha about it. Asian men are not worried about their women marrying white men whereas Asian women do not find white men more attractive than their Asian counterparts. Most of these hate and worshipping of AMDK/L only occurs in Asia. He himself, being an AMDK, was rejected by an Asian woman who went for an Asian man.

2) HDB prices are, in fact, cheap

He told me that considering the distance from the furthest town to the city center and the good public transport we have, property prices are cheap and fair as compared to Oz. Their prices are ridiculously high if situated within the same area as a far-flung HDB is to the CBD.

He also points out that while Oz’s properties are mostly freehold, there had not been a case in SG where the government takes back a property without giving a replacement one or compensating market value. Tho he too notes that the replacement property may be smaller and of lesser value. Nonetheless, the cheap initial price justifies this.

3) CPF vs Pension system.

He find it hypocritical that Sinkies who worship Oz’s pension system while also berating the CPF system.

Firstly, he wonders why are Sinkies complaining about the eventual increase in CPF payout age to 67 when Oz’s pension payout age for younger people is already 67.

Secondly, he wonders why people are complaining about being unable to withdraw ALL of your CPF, Medisave aside, when Oz’s pension system don’t allow any withdrawal at all.

Thirdly, another advantage he points out is that in the unfortunate event if you die before your drawdown age, your family can get all your CPF back. For the pension system, its all gone.

Lastly, he points out that CPF don’t have means-testing like the pension system. People who choose to work after 65 in SG don’t have to worry about their income decreasing CPF payout.

However, he also comments that CPF don’t provide Sinkies with a sense of security as there is no minimum payout and that CPF benefits the rich more, which leads to income inequality.

Lastly, while he claims that life in Oz before and after retirement is indeed more carefree as compared to SG, it’s not as perfect as what we expect it to be. For instance, its harder to find jobs in Oz tho they have better social security. Cost of living is more expensive there for locals tho they have minimum wage. Everything ends up being balanced in both countries.

What do you think of his views?

 

 

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1 Comment so far. Feel free to join this conversation.

  1. Ken August 31, 2015 at 8:02 am - Reply

    He is not comparing apple to apple. He should compare to a freehold apartment in Sgp and how come he didnt mention the superannuation? Superannuation =cpf. They get to withdraw out all their money and on top of that they have pensions.

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