You will quiver when you know that for budget 2011 of Rm240b,
Rm40b is for the salaries of gov servants, past and present.

If this goes on, how will the country sustain such practices?

Issue more 1 Malaysia bond. Create more creative tax for us to pay.

edyek,

Increase LEGAL retirement age to 75. Keep the EPF money 20 years longer.. Sell the IDEA as helping RAKYAT to save for retirement..

Dreamer

Brilliant too. From age 50 last time to 55. And yes, prolong it to 75 will make a big difference.

And I cannot imagine those old civil servants can work as efficient as those younger ones (and gov still need to pay them). Plus, more younger civil servants will join the boleh family. Thus more salary needed to be paid.

Cycle, cycle, cycle.

Illwill it be save to put money in bank locally by then?

This post has been edited by Gary1981: Sep 9 2011, 12:28 AM

Talking about EPF makes me puke.
Keep there longer, then you will see how they misused the Rakyat fund to the max.

There are a lot of occasion which I can feel is that insider buy shares, EPF eat those insider shares and push them up. What the crap is this kind of joke!!

When economy take a boom, share market return more than 100%, EPF declaring 5%+... This is BS to the max, and you can see how they use Rakyat money to make more money for their own

AND discontine the LUMP sum EPF withdrawals.......use annuities........... this will prolong the EPF monies.....
whatever is left of it

prophetjul,

The BEST part of this is IT does not affect civil servants since civil servants are not on EPF.

Dreamer

In addition, allow non-EPF contributors (ie. biz people) to contribute to EPF-like scheme and also top-up for parents and stuff.
"Give the Gomen your cash to manage M'sians, U cant manage it"?

Thats right...........AND they will continue with MGS bond issues to be subscribed by EPF to............to
fund the paying of the 1.6mil GOV SERVANTS salaries and pensions............

Whatta a nice merry go round......... till the EPF cow becomes.............................




This post has been edited by prophetjul: Sep 9 2011, 08:50 AM

That why I don't contribute EPF now. Only contribute when I was still employed.

Not flexible enough for me.

I really no eye see about it..

I guess they are going to announce another increment to the civil servants..

Well, their perception..;'... who cares about the private sector employees', are making me quite fed-up..

They did not do their part to care about the private sector employees..

If this practice continues, we are heading to a more heavily debt nation, thanks to their irrational policy..

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Added on September 13, 2011, 1:02 pmWell, i cannot help to be pessimistic in this sense..

I am now in the watch for the Malaysian economy over the time, the most important time to watch is between the year 2017 to 2021..

MCA comments

Check on the link..

Also sounded like if our country do not achieve high income status in 2020, we will be like Indonesia and Vietnam..

Then, the comments by Dato Tan Seri Idris Jala then i added before also around that time, which is in 2019.

Though, the nation denied the comment, it is better to be extra careful..

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Added on September 13, 2011, 1:04 pmCredit risks are due to default problems by bond issuing companies, which are not related to Public Mutual.. Public Mutual selects the most secure companies who are issuing those bonds..

Anyway, it really depends on the business of those bond issuing companies by that time..

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Added on September 13, 2011, 1:06 pmI think international banks.. Just my opinion..

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Added on September 14, 2011, 10:23 amLets assume that a civil servant work with a basic salary of RM2500, monthly pension is RM1250..

He retires at the age of 58, lives until the age of 80 (Conservative target), the pensioner will get RM15,000 per year just by staying at home, for the 22 years, he gets RM330,000..

Oh my gosh, not yet add the bonus that they can even get without working. And i am only calculating one single staff, how about if we calculate the millions of staff going for retirement soon..



This post has been edited by smartinvestor01: Sep 14 2011, 10:23 AM

Even if going for international banks, be careful too, US and European banks are risky.

I will vote for Singapore banks today.

izzit there will be a recession ?

like this is it better for me to defer buying my bmw with rm100k dp for the time being and keep the cash?

i agreed! it may offer very low interest rate but at least u know you'll be withdraw $$$ when u need it. aviod us or euro banks

Buy what you need the most and invest the rest of the money.
At least try to preserve the value of your money.

put in as1m ok?
or pay into housing loan better?

singapore more likely to get hit by recession 1st/ or at least the technical ones

I wonder why the Euros aren't hitting on Singapore ever since the OECD tax haven blacklist. You'd think if the Euros were strapped for cash, they'd get at those 'pirate lairs'.

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Added on September 14, 2011, 4:20 pmOh wait, they've already been removed from the uncooperative list.

This post has been edited by trencher10: Sep 14 2011, 04:20 PM

Well, i agree with you..

Singapore's economy is at least more safe.. ^^

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Added on September 14, 2011, 11:21 pmI dont think so..

You can see how the country control the inflation rate of the country..

Even the corruption index of the Singapore country is much better compared to our nation..

Check it in Transparency Index

It is somewhere in this website..

Malaysia is rated as 4.4, while Singapore is 9.3, which is slightly more cleaner than the nation.

This post has been edited by smartinvestor01: Sep 14 2011, 11:21 PM