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  #7421 (permalink)  
Old 17-03-2023, 12:31 PM
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based on the above, does it mean, those getting their first MOE connect plan amount will receive $28,800?
Haha, no way. More like less than 10k. The remaining will continue to be kept in the CONNECT plan to build up for the next one

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  #7422 (permalink)  
Old 17-03-2023, 01:01 PM
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based on the above, does it mean, those getting their first MOE connect plan amount will receive $28,800?
moe must be really lucky to have recruited someone who trusts their published numbers so easily...dig deep enough and u will realise that not all numbers match up, as revealed by some of the posts here

not only salary, but also headcount and work hours too

anyway dont forget to happily contribute cpf and pay taxes for that amount too

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  #7423 (permalink)  
Old 17-03-2023, 01:05 PM
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based on the above, does it mean, those getting their first MOE connect plan amount will receive $28,800?
They can't pay you money that isn't already in your connect account.

Connect plan is like a savings account. Money is deposited every year, and withdrawal is made when you reach the milestone years.

The increase in connect plan deposits haven't take effect yet.

Only the fresh hires will get to enjoy the updated payouts, 4 years down the road.

For existing staff, the deposits in the past were lower, so payouts will be lower as well.

Is this so hard to understand?

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  #7424 (permalink)  
Old 17-03-2023, 01:23 PM
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based on the above, does it mean, those getting their first MOE connect plan amount will receive $28,800?
Must be BT
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  #7425 (permalink)  
Old 17-03-2023, 02:28 PM
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Why all so salty over the connect figures? Whatís there to lie on MOEís side?

9000x4 = 36000 in first four years
80% of 36000 is 28800 (first payout), hence left 7200 inside.

Year 5-7 adds 27000 + 7200= 34200 at end of year 7.
So the amount given corresponds to 80% of the amount inside.

No?


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  #7426 (permalink)  
Old 17-03-2023, 02:35 PM
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Why all so salty over the connect figures? Whatís there to lie on MOEís side?

9000x4 = 36000 in first four years
80% of 36000 is 28800 (first payout), hence left 7200 inside.

Year 5-7 adds 27000 + 7200= 34200 at end of year 7.
So the amount given corresponds to 80% of the amount inside.

No?
s://dollarsandsense.sg/salary-guide-much-can-earn-moe-teacher/

Scroll down to Connect plan then look at Payout

Should be abt 15k but need to minus 20% for cpf
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  #7427 (permalink)  
Old 17-03-2023, 02:42 PM
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Originally Posted by Unregistered View Post
Why all so salty over the connect figures? Whatís there to lie on MOEís side?

9000x4 = 36000 in first four years
80% of 36000 is 28800 (first payout), hence left 7200 inside.

Year 5-7 adds 27000 + 7200= 34200 at end of year 7.
So the amount given corresponds to 80% of the amount inside.

No?
How about for the person who will get first payout at the end of 2023?
$ 18,960 in the kitty and for 2024, the contribution will be another $9,000; Total will be $27,960. So 80% of $27,960 will be $22, 368 - payout on 12/2023?
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  #7428 (permalink)  
Old 17-03-2023, 02:43 PM
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How about for the person who will get first payout at the end of 2023?
$ 18,960 in the kitty and for 2024, the contribution will be another $9,000; Total will be $27,960. So 80% of $27,960 will be $22, 368 - payout on 12/2023?
Pls read as for 2023, the contribution will be another $9,000
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  #7429 (permalink)  
Old 17-03-2023, 02:44 PM
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Connect plan is just to make you stay longer in teaching while your market value drops day by day outside teaching.

Go figure
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  #7430 (permalink)  
Old 17-03-2023, 02:48 PM
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Originally Posted by Unregistered View Post
s://dollarsandsense.sg/salary-guide-much-can-earn-moe-teacher/

Scroll down to Connect plan then look at Payout

Should be abt 15k but need to minus 20% for cpf
Following text from Dollar & Sense also:

MOE has also indicated that the CONNECT Plan will be enhanced. Starting from 2023, there will be an overall enhancement of about 20%, and the annual deposit quantum and payout ratio will be raised to better support teachers in the earlier years of their careers.

Assuming a linear 20% increase, this will be an estimated payout of $18,240 at the first payout year (an increase of $3,040), $28,800 at the second payout year (an increase of $4,800), and so forth, for a total of $202,560 (an increase of $33,760). Given that the enhancement is intended to better support teachers in their early careers, it is possible that the CONNECT plan will be adjusted to have a higher payout in the first few payout years. This will only be confirmed in 2023 when the CONNECT plan is officially enhanced.
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