How much are you earning per annum?

Originally Posted by Unregistered

2009 - geo1.2
2010 - geo1.1
2011 - geo1a1
2012 - geo1a2
2014 - geo1a3 (current geo5)

2015 - neogeo
2016 - geomancer
2017 - geologist....

Haha joking. Actually, 130k per annum is doable in the 9-10 years you been teaching. I mean its above average for sure. I know of friends in ministry who earn that in the same period, good to know teachers also can have a similar trajectory!

[RecursiveLoop]

Originally Posted by Unregistered

Hmmmm...is your monthly 8k? Wondering how to obtain 130k.
Assuming 13 months + 1 month variable + 3mth A PB, you need to earn almost that amount to hit 130k package. And at geo 5, A is rare.

1A3 around 6.34k?
4 years with yearly MI quite impossible to hit even 7.5k.

Don't believe it unless you see income tax return or proof of CPF contribution.

A lot of people here inflating salaries just to make themselves seem superior.

Originally Posted by Unregistered

Hmmmm...is your monthly 8k? Wondering how to obtain 130k.
Assuming 13 months + 1 month variable + 3mth A PB, you need to earn almost that amount to hit 130k package. And at geo 5, A is rare.

1A3 around 6.34k?
4 years with yearly MI quite impossible to hit even 7.5k.

I calculated as monthly 7.4 k.... which I think it’s possible, although haven’t heard of.

12 months and almost 6 months package including 1.5 month variable, 3 month PB, 13th month.

Seeing the almost year to year promotion, it also means the MI must’ve been higher than average since the CEP is very High to justify such accelerated promotion. Yet for such high CEP, and straight B grades I see for my peers, you should be SEO level.....



The 130k package does not include the 17% employer contribution right.....just 130k gross...

Is $130k per annum consider high after 10 year in the civil service?
I am assuming scholars progress faster than this?

Originally Posted by Unregistered

Is $130k per annum consider high after 10 year in the civil service?
I am assuming scholars progress faster than this?

There is the usual bell curve for civil servants where there will be those high CEP and high performing officers at the right of the curve. For these officers, getting superscale pay at 35 (10 years of service) is not far fetched.

Originally Posted by Unregistered

There is the usual bell curve for civil servants where there will be those high CEP and high performing officers at the right of the curve. For these officers, getting superscale pay at 35 (10 years of service) is not far fetched.

And how much would a super scale salary be for these people? Say 10 years after graduation from college.

OUR RETIREMENT PLAN AT 55

My spouse and I plan to retire when we reach 55, after we have collected our CPF OA funds. Our CPF SA will be used to buy the CPF Life ERS annuity.

We will retire in KL, where we have friends and family. To finance our retirement, we will rent out our paid-up property in Singapore for about S$2,500 pm and convert it to RM7,500 pm.

Here are our expenses:

Rent a 3 BR condo in KL - RM2,000 pm
Utilities and car operating costs - RM600 pm
Food, groceries and entertainment - RM1000 pm
Medical and insurance costs - RM1,000 pm
Holidays and miscellaneous - RM900 pm
Total expenses - RM5,500 pm
Savings - RM2,000 pm

When we reach 65, we will receive S$4,000 pm (RM12,000 pm) from our CPF Life. This extra money will allow us to rent a more expensive condo in KL and for us to travel the world.

Our property in Singapore and our CPF savings are valuable assets which will allow us to retire rich.

Is a 100k net worth consisting of savings and CPF at age 30 a norm?

[NotFlirt]

How come all the software developer here earn so much? I 7 years of experience only earning about 45k .
And you guys can hit 80> with same experience

Originally Posted by Unregistered

Is a 100k net worth consisting of savings and CPF at age 30 a norm?

Shouldnt include cpf. For 30yo, 100K exclude cpf is fine. Every two years after that should add another 100K. Can be faster if work in high paying job.

Repeat till amass sufficient for retirement.