Anyway, if a scenario occurs whereby a huge majority of the
people in the scheme somehow lived till 100 years old in the
future, they will change the scheme again or hold more money
back.
It's a win win situation for them because no money will ever
come from their pockets.
it is highly unlikely for so many people to live beyond 85. yes,
the life expectancy of people have rise with the advance of
technology and healthcare, but there's a limit to how long people
can prolong their life.
in the past, those elderlies born before the 50s, they mostly
live in kampong and led simple lives. no msg, no pollutants etc.
with better healthcare, it is reasonable for them to live till
their 80s.
but for our generation, growing up on fast food, coke, msg,
chemical pollutants etc, we are already seeing some old-age
diseases in our youths, ie. arthritis, hypertension, high blood
pressure, obesity, diabetes, diseases which were once associated
with only the elderly. with this in mind, do you think we will live
longer than our parents' generation? unlikely.
thus, it is highly probable that the government will stand to
profit from the cpf life scheme with more people dying before
collecting payouts. since the amount of money pledged will not go
to the beneficiaries, the money will go to the government
instead.
so instead of acting as a guardian of our savings, the
government has transited into an organisation eyeing the
hard-earned savings of our citizens.