Our Next Fridge

We have a 5 year old 28" side-by-side which we detest, particularly for its meagre space.  This Samsung RS20NRHS was designed for fans of 2-door fridge who might not mind small internal space. It must have been inexperience which possess us to purchase this model, because it turns out to be a seriously crammed fella for our needs.  Not enough rooms for bulky items on either sides - the fridge side or the freezer side. As soon as we bought it, we can't wait for it to die so we can replace it.

Soon after we bought this, we saw the bigger Hitachi ones.  Good side-by-side fridges, however, comes at a much heftier price than the S$1,199 which we paid for the Samsung (5 years ago). Much to our relief, a Taiwanese expat donated her Panasonic one-door fridge. Though smaller in body, this simple Panasonic one-door has the same internal capacity as the bigger bodied Samsung yet has wider space for a big pizza box to slot in easily.  So if budget is a concern, a one-door fridge may be a better option.  The Panasonic has its freezer at the bottom, suitable for those who spend less time digging in freezers than the fridge. 

We liked our first side-by-side for its icemaker/water feature.  However, its filter occupies quite a lot of internal space and requires discipline in changing at proper scheduled time.  It was such an energy guzzler though, that when it was carted away, the power bill dropped significantly!  Its capacity was bigger than the Samsung but it was also dimensionally bigger, taking up too much kitchen space.

The plus of a side-by-side is that most comes with handles that allows one to loop a latch around it.  This is useful for those who really needs to keep stuff locked away from folks with dementia, or various other reasons.

The other plus is that on both the fridge and the freezer side, you have most of the regularly used stuff at eye level.

Note also that the door of a fridge or freezer holds a ton of stuff, many of which can be quite heavy, e.g. litres of your favourite drinks.  In a wider one-door fridge, the technical advice is to keep the heavier stuff towards the hinge area.  We found this out when the fridge becomes less cold at times.  The door had slide somewhat off the hinge requiring servicing to align the door back upwards.

Meanwhile, we are looking into a multi-door fridge, favoured by many Japanese families.


Hitachi

Mitsubishi

Panasonic

CPF LIFE

55 is a milestone in your CPF agenda.  2 things occurs:

[1]  RETIREMENT ACCOUNT (RA) CREATED

This sets aside your CPF Minimum Sum.

RA is created by transfer from-
    •  Special Account (SA)
    •  Ordinary Account (OA)
    •  Medisave Minimum Sum excess balance
    •  In case savings are insufficient, property bought with CPF savings will be pledged.
   
Suggestion
There is a lot of confusion over:
    1) Medisave Minimum Sum (MMS), and
    2) Medisave Required Amount (MRA) 

Even the w.e.f. dates aren't streamlined:
    • Since 1 July 2013, the MMS is $40,500.
    • Since 1 January 2013, the MRA is $38,500.

It is better if these 2 confusing requirements be merged into one - in favour of the public of course.


The RA is then committed to CPF LIFE annuity scheme.
In case you outlive your CPF savings, an annuity provides lifelong income.
CPF LIFE's monthly payouts commence from 65 to as long as you live.

Choose from 2 CPF LIFE plans:
    • Standard Plan (the default if you do not choose)
       Higher monthly payout / Lesser bequest
    • Basic Plan
       Lower monthly payout / Higher bequest

Key Concerns

One is the low bequest amount even taking into account over-compensating for those who may live beyond 90. 

The other is that since CPF LIFE is a long-term savings, it should be inflation-indexed.  As long as it is not inflation-linked, there would always be a certain level of shakiness perceived to a product which to all intents and purpose was supposed to be credible in carrying out its objective.

The objective of the monthly pay-out is to sustain a reasonably basic living. This is at risk if the annuity doesn't grow enough to keep up with the incessant rise in the cost of living.

There is also no bonus add-on mechanism which would help offset sudden deflationary factors.

[2]  WITHDRAWAL

You can choose to withdraw the withdrawable portion of your CPF.

Or you can choose to let the funds enjoy the following interest, currently:
    OA interest rate = 2.5% per annum.
    1% extra for first $60,000 of combined balances (OA $20,000 cap)


You'd think it's your own money and withdrawal should be relatively free and easy.
But as with all red tapes in life, not so fast!

Up pops ambiguity in CPF's FAQ listed under the heading of:
(A)  When can I withdraw?
Reply Line (1)  
You can apply to withdraw your CPF savings two months before your 55th birthday or anytime thereafter.  After you have withdrawn your CPF savings at 55, you can make yearly withdrawals on or after your 56th birthday, 57th birthday and so on.
Reply Line (2)
If you are 55 and above, you can also apply to withdraw your CPF savings anytime if:
(i)  you have been unemployed; or
(ii) you are a self-employed,
      and have not been continuously working,
      nor receiving income in any business or trade,
      throughout the period of six months before the date of your CPF withdrawal application.
Reply Line (3)
If you have made a partial withdrawal of your CPF savings, you will be eligible to withdraw the remaining balances when you meet conditions (1) or (2) above.

We get a sense of what CPF Board is trying to say, but somehow it's all in bits and pieces, that don't seem to add together.  So a call to the hotline to clarify is due, and that's always a sign that the literatures aren't speaking plain English.

From the call to the CPF Hotline, it appears that what Reply Line (1) to (3) is trying to say is this:-

First, pay attention to the words 'First" and all subsequent withdrawal terminology.

It appears that you can make your first CPF upon-reaching-55 withdrawal, at anytime upon reaching 55 or any years after.  As long as this is the first time you activate this entitled withdrawal, the other conditions of having to be unemployed or having to be receiving no income for a set period of time will not apply.

It is only if you have activated this first withdrawal, that the eligibility restrictions set in.  If we understand correctly, CPF Board is not to be taken as a bank where folks go in freely to withdraw in portions.  Therefore the regiment.

If you do not withdrawal at 55, the minimum sum may be increased, so your withdrawal sum may be reduced.

However, further contributions into CPF after 55 would likewise increased the withdrawal sum if you have never withdrawn it since reaching 55.


Suggestion
We still don't like that after a first withdrawal is effected, we cannot withdraw any further balance in the OA funds in CPF, unless:

    (i)   unemployed, or
    (ii)  self-employed, with no continuous work nor income in any business or trade.

This actually discourages folks from working! 

There are multitude reasons why someone at, for example, age 56, 57 or 60 may be working yet need to withdraw subsequent amounts that remains in their CPF.

It would be good if this eligibility condition be made more owner-friendly, after all you're talking about folks who have already cross 55!

Socks, at last!

For Bigfoots in Singapore, it can be ridiculously difficult to find big socks, especially ankle-lengths. 

We recall running around Robinsons, Bata, John Little and other stores in vain for black or white ankle-length socks for size 13 shoes, finally settling for the pricey ones at Timberland, which often run out of stock. 

We even cause a change in a school's compulsory rule to wear school-issued socks which has the school name embroidered all around the rim.  The school vendor appointed to issue it simply couldn't cater to those who wears shoes of size 12 and upwards and many of the growing teenage students were struggling to put on 'free-size' socks which was in effect baby-size when placed next to a large foot. 

The stretch elasticity of many brands are also often not generous enough to accommodate bigger foot, resulting in holes, adding to the frustration.

It was therefore a big surprise to find what we wanted for so long right there on the street at the pasar malam near the HDB Hub, Toa Payoh.  Low ankle, high ankle - it's all right there in plain black or white.  Disbelieving, we bought only a set of 3 pairs at S$10, wore it, and then went back for more.  The thread count and stretch-ability is in top form.  Various material mix ranging from 100% cotton, 80% cotton 20% spandex, etc. are available!

For those in the mood for fancy, there's a wide array of colours and patterns.


Photo: kawata.com.sg

Photo: kawata.com.sg

Wisely, the saleslady pointed to the contact printed on every plastic bag, in case we run out of socks:

Kawata House of Socks
Retail Outlet:
•  Chinatown Point  #81-09
    Tel: (65) 6538 2009
•  People's Park Plaza  #02-1092/1094
    Tel: (65) 6532 1002
•  Office: 9002 Tampines Street 93  #03-46/50  Singapore 528836
    Tel: (65) 6786 4568  Fax: (65) 6787 4568
Online:
• www.kawata.com.sg