The following is a breakdown by age groups of Singapore
residents as posted by one forumer at youngpap site:-
0-4 yr 196 K
5-9 yr 239.3 K
10-14 yr 263.6 K
15-19 yr 238.1 K
20-24 yr 222.4 K
25-29 yr 253.7 K
30-34 yr 303.6 K
35-39 yr 310.1 K
40-44 yr 331.2 K
45-49 yr 314.5 K
50-54 yr 260.5 K
55-59 yr 202.8 K
60-64 yr 120.8 K
65-69 yr 104.3 K
70-74 yr 79.7 K
75-79 yr 56.2 K
80-84 yr 30.9 K
85 & abv 25.8 K
From this table it is quite clear that 56.7K are the group of old
people who might not have enough CPF to last their lifespan as
compared with the normal expected lifespan of the previous
decades.
How many of these 56.7 K belong to the lower-income group with CPF
of less than say S$100K as at age 62?
If we want to analyse the ageing population problem as a whole we
should focus on this group of people who cannot live with
subsistence amount of S$500.00 pm from their own CPF balance as at
62.
If say we have 70% of this 56.7 K oldies of age 62-85+ as belonging
to the group with insufficient CPF (annuities of S$500 pm), we
could measure the size of social problem as : 39.7K x S$500.00 pm =
S$19.85 million pm.
The interest income from government land sale profits of S$20
billion will work out to be: S$20,000,000,000 x 4% /12 pm or
S$66,67 million pm.
Can people benefit from the interests generated by the land sale
profits accumulated since the 1970s? The answer is obvious but
ministers are keeping silent on this aspect of government profits
from the citizens. The government is simply profiteering and
stinging from spending where it is called for to help citizens in
relieving their plights and needs.
No wonder Singaporeans are destined to be poor and will get poorer
simply because of a government which will keep taking away from and
not help its own citizens with their own monies and
contributions.