Why is the Government back
tracking on making Singaporeans more 'Self-reliant' ?
If nobody owe us a living, and this has been the case since 1957 -
why will the Government interfere now - to make us owe ourselves
and owe to others a living when we reach 80+ of age ?
Why is this Government so generous in giving away our money ?
After $3 Billion given to Thaksin, $10 Billion sunk into Suzhou,
and the Billions of Singapore Dollars spent on failed foreign
projects by various Government Owned Companies - are these public
funds given out still not enough ?
Now the Singapore Government would like to be generous with the way
our CPF money is to be utilised during our retirement years.
As this piece is written, ChannelnewsAsia is telecasting the
'meet the people event'
conducted by PM LHL and his Ministers.
If Minister Tharman claim that Singapore is the only advanced
country on the globe to have an Annuity Scheme; and PM LHL claim
that the Government is willing to approve an additional 1% interest
payable to the first $60,000, which will cost the government
$700million annually - then why will this Government not simply pay
the 1% directly into the Annuity Scheme on an annual basis, instead
of paying the 1% as interest to CPF member and expect the final
amount to be thrown into a pool ?
Was PM LHL correct that the 1% additional interest paid will cost
the Government $700million annually ?
Looking at the population statistics, it takes a big leap of
imagination to see the $700million as realistic for the additional
1% interest paid on the first $60k in the CPF.
Minister Tharman had honestly said that Singapoer is late in this
game of getting an Annuity Scheme started - and he should have been
more honest in saying that it was purposefully wrong to have opted
for a CPF scheme in 1957, instead of going for a National Social
Insurance scheme.
We are now 50 years late, and the Government is making the
generation who are now in their twilights years to kick-start this
Annuity Scheme, without any contribution from the Government.
If the present generation of aged were to pass on, we will be
haunted by the thought of living on their remaining monies left in
the Annuity Scheme ?
Can we survive on a payout of $270 per month from the Annuity
Scheme ?
What is the value of this $270 per month in ten years time from
today - taking inflation into consideration ?
What can $270 per month fetch ?
