Nobody is opposing just because they don't like the idea. To the
common man, this scheme is ludicrous. Forcing Singaporeans to have
compulsory annuity. If the common man feels there is a need to have
annuity, he/she will take up such a plan with the insurance
company. Is this a democratic state or communist? Does the
government force their will on the people?
If they want to implement such a scheme, they should have a opt in
at 65 y.o.
Genuine concern can be redundant in most cases, let's say they have
a genuine concern that they think that cancer will be a prevalent
threat for the population and suggest that we take up compulsory
special cancer insurance. Since we have been getting so much
earthquake, they suggest that we take up compulsory earthquake
insurance. Since there is a chance that passengers from aircraft
stand a chance of air disaster, they want compulsory insurance
scheme. etc, etc, etc...........
Where does all this end?
Genuine concern? More like delaying the payout of our hard earned
cash. In finance, one can provided better cashflow to the company
by delaying payouts of creditors and collecting earlier from
debtors. Surely you are not dupe by their sales gimmick?
If this place is truly a democratic country, they should let the
citizens choose their own path. Afterall, if mistakes are made, is
the government responsible for the future well being of the
citizen? Are they going to give you money? This is not a welfare
state!!!
