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12-12-2012, 04:20 PM
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how abt public services?
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12-12-2012, 05:00 PM
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Quote:
Originally Posted by Unregistered
Please be serious and give proper advise to this person looking for some guidance. Working in the civil service and private sector have their good and bad points. If you are really looking to slog your life away to make the millions and you think you are that capable go ahead. For the majority of us wanting a balanced life but still good enough to hold your head high, the Singapore Civil Service can provide such an environment. It is envied the world over.
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You dont even know what the discussion is about. Everybody know civil service more relax and work life balance. I was addressing the fact the civil service guy earlier make a statement if you are good performer, it doesnt matter as you will rise in both public & pte sector. This is patently false, the difference in pay between good performer in public & pte sector is huge.
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The above guy is either totally ignorant of the situation or cleverly chose to pick only the extreme examples to wrongly prove a point. Banks are more willing to give loans to people with stable jobs (eg Civil Service) but lower salary than those with higher pay but in less secure industry. Teachers are not the lowest nor the highest earners in the service, but they are still buying up condos and houses. Banks love them.
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Don't talk nonsense please. There is totally no difference between interest rates and loan terms for mortgaged houses between a teacher and a corporate employee. The location, condition and value of the house is the important collatoral, not one's job. I am presenting facts with numbers that show downpayments and monthly mortgages of a landed house are beyond a teacher's reach. You, on the other hand, offer nothing of substance except a totally baseless claim that banks love to offer morgages to teachers.
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12-12-2012, 10:32 PM
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Junior Member
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Join Date: Dec 2012
Posts: 6
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Can anyone tell me in this era, is it possible for a civil servant to retire comfortably at age 55 with enough to spend for the final days ahead? In the olden days, the pension scheme was very attractive. But today, it does not exist any more.
Many people have advised me on the downside of joining a niche govt job ---- non-transferable skills. If the current retirement plans offered by the govt are sufficient for a retired farmer to continue living without working and without comprising quality of life, I might think it's not too bad a deal....
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13-12-2012, 09:35 AM
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Quote:
Originally Posted by confused_88
Can anyone tell me in this era, is it possible for a civil servant to retire comfortably at age 55 with enough to spend for the final days ahead? In the olden days, the pension scheme was very attractive. But today, it does not exist any more.
Many people have advised me on the downside of joining a niche govt job ---- non-transferable skills. If the current retirement plans offered by the govt are sufficient for a retired farmer to continue living without working and without comprising quality of life, I might think it's not too bad a deal....
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It really depends on what sort of lifestyle you want. The government generally do not encourage civil servant to retire before 62 and now they are actively pushing for people to retire at 65.
There is no retirement plan to speak of other than CPF and the annuity options they have are all pretty crappy and it would be a struggle if you depend on that. If you want to retire like middle income lifestyle, you will need roughly $5,000 monthly ($60,000 p.a.) to draw down on. Assume you live until 80 then it would mean $60,000 x (80-55) = $1.5M. I do not think most farmer civil servant have $1.5M worth of retirement nest at 55 yrs old.
Of course there is general inflation so the real number 30 years down the road should be $3-4M, but I suppose your wages will also go up as well....
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14-12-2012, 02:21 PM
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Quote:
Originally Posted by confused_88
Anyone knows the difference between the rankings of 'MX' (e.g MX11, MX 10 etc) and that of 'Grade' (e.g Grade 8 for CPIO and Grade 13 for CAO) ? Are all these the rank structure of civilian positions?
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different places call it differently..so pay also different, cannot compare the two directly. Progress, starting pay, ranking also different.
Are u a male with NS, cos 4k starting seems to be on the high side for civil service
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