In your case, I suggest that you read carefully before
commenting. There was no talk whatsoever that says one cannot hand
in his or her resignation at anytime that the individual wishes
to.
She mentioned the possibility of Singaporeans retiring early to
pursue their own passion and interest. She also spoke about
Singaporeans not being gainfully employed when they are 62 as
statistics that she broached has shown. Now, compare that with the
increased DDA (Draw Down Age) that puts these very category of
people at a disadvantage.
Those were a few of her key concerns.
Well, one can always argue that if the govt does not plan early,
what happens if these retirees have no money for retirement some
time down the road?
As Slyvia put it, the govt has made $6b more in revenue as compared
to 5 years back. Surely the govt can do more than by just
increasing the CPF savings by a mere 1%? (which of course is easily
eroded by inflation)
As Peter Yeo put it (as quoted from theonlinecitizen.com):
Thus, setting aside the $1.2
billion now, could solve the longevity insurance problem for 10
years from 2042 to 2052, if not longer, because the yearly
increasing number of those who turn 85 and older, and are
destitute, will also die off gradually every year, with about half
being still alive at age 92, according to the life expectancy
statistics.
By 2052, our reserves (currently about $250 billion) would have
grown to about $64 trillion, assuming its historical rate of return
of 13.1 per cent (Temaseks 18% + GICs 8.2% divided by 2)
continues.
So, by 2052, if we use just 0.1 per cent of the reserves every
year, the longevity insurance problem could be solved
forever!
