Set payout age for compulsory annuities at 80 but raise prem

AndrewPKYap SG

Don't forget, people, that this is the same regime that says the increase in GST was to help the poor and they promptly raise their own million dollars salaries, and cut the corporate tax by 2%

Focus, people this is just another hidden tax in their arsenal of hidden taxes.

Unless it is paid for from the current exorbitant taxes they are taking, and better still, tell them to take a pay cut to fund the annuity or else, please tell them to take their arsenal of hidden taxes and shove it up their, well arssanal... Laughing

see: CPF Annuity - another hidden tax

holygoh SG

Obviously they are trying hard to shift the focus of the issue.

THE ISSUE is should the government FORCIBLY implement a COMPULSORY annuities scheme that locks up people's money until 80-85oruntilyoudie?

So mr sm goh, nice try but lets not sidetrack.

GHoST_18 SG

think again, we are at fault partially...

because we are the people who put these people up there...

Gazelle SG

such statement are only good to the sheep. Laughing

mancha SG

Half-way meeting point between 65 and 85.

75?

ahem! What am I saying.
It is getting as if Singaporeans are blessed with immortality.

Anything above 65 should not be acceptable.

Annuity should be another name for pension.

Pension is for the old to relax.

Digression:
When I was 20+. I would help my friends move house. The elder uncles would drive the lorry, we youths would do the labouring and carry all heavy stuffs.

Now when I help my neighbour move house, he tells me, leave the carrying to the young ones, we just supervise, and see what needs to be done, and tell them to do it. Laughing

Thats the way it should be. pass the baton to the younger generation.

I want to get a Harley Davidson, and ride into the sunset.
I got my Class 2 only last year, now only the bike left.
I need the pension.

Atobe SG

Sheep ?

Only a Black Sheep - pretending to be a more agile Gazelle - will know how to recognise another sheep.

Sheep ?

Are you referring to the larger community of docile and subservient Singaporeans - unwilling to respond to the political and social challenges of the day and prefer to remain locked in a cycle of accepting all that this MIW Government will decide for them ?

If the larger community of docile subservient Singaporeans are seen and derided by you as 'SHEEP' - are you any better as a social reject by the main flock for being a 'Black Sheep', betraying the interest of the flock by towing the MIW line while deriding others who will question the line that you tow ?

t_a_s SG

Originally posted by Atobe:

With his own salary pegged in MILLIONS, it is easy for GCT to advocate a higher premium - which is probably [b]'PEANUTS' to him and his wife.

[/b]

GCT talk kork he said he like other singaporean kiasu, that is why change to 80 year

t_a_s SG

ya we are at fault, next GE remember, topple them,

sunnytv SG

No difference. They cannot wait already because they know they cannot live past that ages. Give more money to them earlier before you died.

mistyblue SG

year after year, promises to help the people were failed, ill though plans at the expense of the citizens implemented against much rejection, monies were wasted on useless things/purchases that yielded no returns, with the FT policies where it open the flood gates without proper screening and made singapore a stepping stone for foreigners to waste our resource, when increases in public service and monopolistic companies ran by their own folk rake up extreme levels of profit, where salaries are increased for world most well paid ministers, tax and cost increases were consistently passed onto the people when the times are hard, or when public service are privatized to avoid any blame, when the whole economy is controlled and managed by 1 family and the top positions reserved for the inner circle, where government intervention in the market is to ensure the GLCs/employers benefit, where the voice of the people are silenced and feedback is just a wayang exercise and where the "leaders" have grown complacent from the absolute power they hold over everyone and the ruling elites have been disengaged from the grounds that they do not understand the impact of their decisions nor do they care and then finally hearing all the lame excuses of increasing everything in the name of a) corruption b) maintain basic service c) in the event of increasing oil/elecrticity/water/labour/put in the favourite excuse of the month.

After all these years. Its hard to believe anything that comes from any one of our "leaders".

HyperFocal SG

..so.. what? Reduce to 80, but jack up premiums... might as well don't bother!

Every move they make, is tied to money... & always our money...!!!

How long are people here going to keep taking their nonsenses??? Look at how far back the reitrement age has been pushed!! Next thing you know, they'd have pushed it to 90-95-100... & declare that they are confident Singaporeans can live up to 100 before Drawing out their money...

Basically, all I can see is that they are delaying PAY OUT of our money!

And up till today, they have still not shown ANY proof tha MOST Singaporeans can live up to 80 & above... just their words against ours... always their words... promises that in the end needs additional tweakings to try to make it work, which always comes down to...? Our money...

What the fark are they good at besides leeching us dry?

EarlNeo SG

Anyone ever wonder why it has to be a a COMPULSORY annuities scheme?

That's because if it isn't, no one will take it up and it will be a failure. Why none will take it up? Cause it is stupid and won't solve the ageing problem none CPF deficit problem that we are facing. the government just passing the problem back us and let us deal with it instead of coming up with ways to solve. Why do we need the government to tell us what we need to do with our money to solve something when in the end, the problem is still solve using our own money?

If annuities is the way to go and would solve the problem, why make it COMPULSORY? Why bother about changing the age when it is COMPULSORY? It is not as if we had a say. And if they make the annuities very attractive, beneficial, festiable and non-COMPULSORY, do you think the public is stupid not to want it?

HyperFocal SG

Originally posted by EarlNeo:
Anyone ever wonder why it has to be a a [b]COMPULSORY annuities scheme?

That's because if it isn't, no one will take it up and it will be a failure. Why none will take it up? Cause it is stupid and won't solve the ageing problem none CPF deficit problem that we are facing. the government just passing the problem back us and let us deal with it instead of coming up with ways to solve. Why do we need the government to tell us what we need to do with our money to solve something when in the end, the problem is still solve using our own money?

If annuities is the way to go and would solve the problem, why make it COMPULSORY? Why bother about changing the age when it is COMPULSORY? It is not as if we had a say. And if they make the annuities very attractive, beneficial, festiable and non-COMPULSORY, do you think the public is stupid not to want it?[/b]

I don't believe, that it is the Aging Problem they're concerned about ... they are more concerned about protecting their pockets, & absolving themselves from the financial repsonsibility of PAYING OUT to aging & ill citizens...!!!

Why the hell do people bother to vote them in term after term..??? After election they make us all eat sh|t for 5 farking years...

Gazelle SG

again you are mental masturbating yourself to believe that Singapore government is broke, greedy and desperately need the money for themselves.

a statement which is only good for the sheep in this forum.

SevenEleven SG

or are you implying the vast majority of ppl here mental?

t_a_s SG

whether government is broke is one thing, I find that this gahmen always come out with unpopular policy, make the citizens angry, what is the reason behind, there must have hidden agenda, or is it the gahmen run out of ideas so they come out with fancy things to justify their million dollar pay, I damn fed up see their face on TV, esp yesterday GCT appeared and talk cok abt the annuity, If they care for the ppl, pls dont suck so much, if u think your pay is less than that of private sector, then go join private sector and resign from PAp

HyperFocal SG

Actually, just let them come with their UNPOPULAR POLICIES...

they are paving their way OUT of election some day...

AndrewPKYap SG

It is difficult when they control the media… to kick them out, we have to support Dr Chee’s cause and give him 100% of our support until his aims to make Singapore transparent and his effort to disgrace the despots internationally bites.

AndrewPKYap SG

Don't forget also that they are persecuting those that are credible candidates for the opposition.... there is no other way. People, support Dr Chee's cause and kick out a couple of ministers with papa's boy the best candidate to eliminate if we want real change.

If we can do that, the Singapore government will not dare to take the people's money and put so much into their pocket at will.

Rock^Star SG

Seems that being senior (or senile?) in this govt gives one the right to make blunt comments.

Think LKY and his Johor rants and the merger with Malaysia. Then Lee Hsien Loong and his mee siam mai hum. And now GCT with this.

May the Father, the Son and Holy Goh bless you. Amen.

Setting the payout at an earlier age will certainly necessitate a raise in premiums. This is because:

1) higher ratio of citizens live beyond 80 than 85
2) Since payout is earlier, there is lesser time for the annuity pool to gather more market investment returns

However, such statements would only serve to cement this govt's mercenary image. More tact would have been better.

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