Recently, I took a short staycation with my family at one of the hotels in Sentosa. The official check in timing for the hotel was 3pm. We arrived at the hotel around 11.30am and I proceed to inquire at the reception if we could check in early. We were told there are currently no rooms available and was assured that we can have our room ready by 3pm. Thus we proceeded to Universal Studios to enjoy the rides first. When we went back to the hotel at 4.30pm to check in, we were told the rooms are still not ready and have to wait until 5.30pm. I was furious! The staff offered us complimentary buffet breakfast as a token of apology. That was over S$50 of savings! Well, what was bad didn’t turn out so bad after all! Read More
The news was a surprise to many retailers at Funan DigitaLife Mall. The mall will be closing for redevelopment in 3Q2016 for 3 years.
Funan DigitaLife Mall is home to Challenger’s flagship megastore including many IT retailers. Challenger will be shuttering its operations at its 53,000 sqft flagship store. Challenger mentioned that it will be employing a more ambitious e-commerce strategy to make up for the closure of the megastore.
I have previously divested all my stake in Challenger Technologies. Personally, I feel that unless prices are competitive, Challenger’s e-commerce platform will face tough competition. You can read more at my previous review (My Personal Analysis of Challenger Technologies).
Well, at least for me, I still enjoy shopping in a physical shop for technology gadgets as compared to shopping online.
What about you?
In the Budget 2015 Speech, Mr Tharman announced that the CPF (Central Provident Fund) salary ceiling will be raised from the current S$5,000 to S$6,000 with effect from 1st January 2016.
Time flies and we are already in December, the last month of 2015.
How Will This Impact You?
The current employee contribution is 20% and employer contribution is 17%.
If you are earning S$5,000 or less, the increase of CPF salary ceiling will have no impact on you. However, if you are earning more than S$5,000, basically you will be taking home less cash but more contribution into your CPF account starting from 1st January 2016.
In 2015, if you are earning a monthly salary of S$6,000, you take home $5,000 (80% of S$5,000 + S$1,000 above CPF salary ceiling).
In 2016, if you are earning a monthly salary of S$6,000, you take home S$4,800 (80% of S$6,000 + any excess above CPF salary ceiling).
How Will This Impact the Employer?
In 2015, if you are earning a monthly salary of S$6,000, your employer has to contribute S$850.
In 2016, if you are earning a monthly salary of S$6,000, your employer has to contribute S$1,020.