Annuity is when you don't work, but have a capital sum in CPF
and the government will deduct an amount from it to pay you.
e.g.
If you have $40,000 with an interest rate of 4% and you want an
annual payment of $4,800. Your $40,000 will only last 10.34
years.
When one still has not reached the retirement age and jobless
for a long while, CPF money goes to pay housing loan. What
will happen? Will the govt get the people to pay cash
for the annuity?
I can't stand it when buying annuity is by
force. It is our life, we don't need them to run
our life for us. If I ever want to buy annuity, will opt for
insurance companies.
LHL treats us as kids, force this upon us and the latest is
teaching us manners. I don't need another father.
He is not fit to be father to anyone of us.
