PROTEST AGAINST COMPULSORY ANNUITY

last SG · 2007-09-05T15:55:42+00:00

Maybe they implement everyone who wants to wear the same color in a group of 5 has to apply for a permit? Like that will be even more steady and attract mor...

LazerLordz SG

Chee has done it so many times, till he can do it in his sleep.

eagle SG

Laughing

Pap Killed

qlqq9 SG

They will never allow this, before these people can gather for the protest, they are already arrested.

qlqq9 SG

OOPs, sorry mistake. They will never allow these thousand of people to gather for protest, 5 or more gather is considered illegal what more about thousands of people come together.

hloc SG

Ok..... so what we want is NO PAIN.... But I want GAIN

Mmm..... no wonder nothing change much in S'pore..... Sad

After all thats is debated and said here...... Sad

oxford mushroom SG

What's there to protest about? It has to be compulsory for the scheme to work.

If it is not compulsory, the well-off who have plenty put aside in investments for old age may well opt out, leaving the poor who have very meagre savings in the system. And of course not everyone will live to be 85. It is the richer contributor who dies at 60 and does not benefit a cent from the scheme who subsidizes the poor man with hardly a few hundred dollars in his CPF who lives on beyond 85.

Insurance companies are not charities. If you have a smaller base of contributors drawn mainly from the poor, the annuity payouts will be much smaller.

If everyone lives to be 89, then we can only expect to have much smaller payouts, which may not be sufficient for us to live on. If most people die at 60 and only a handful lives to be 89, those few octagenarians can be assured of a decent handout and a comfortable lifestyle. Of course those who die earlier lose out and those who live longer benefit more. But if you die at 60, you won't need the extra cash anyway.

qlqq9 SG

Originally posted by hloc:

Ok..... so what we want is [b]NO PAIN.... But I want GAIN

Mmm..... no wonder nothing change much in S'pore..... Sad

After all thats is debated and said here...... Sad [/b]

You mean you don't know gahmen want people to get permit for protest and 5 or more than 5 people gather are considered illegal. May be you should start a protest in Singapore and let us know the outcome.

googoomuck SG

I read the anti-Odex protest thread.

Four busloads of Anti-riot police were called to harass eight unarmed protestors.

If there are one hundred people wearing black, the police will be short-handed on that day.

eagle SG

As I have said earlier, take a look at the obiturary and count how many people died passed the age of 87, bearing in mind that most chinese increase their age of death by either 2 or 3 to make it an even number.

caleb_chiang SG

I'll be working then... but I'll wear black... Laughing

I think it should be a whole island thingy... Rolling Eyes

qlqq9 SG

May be they want to start small, in future I believe they will extend to other places as well.

oxford mushroom SG

You fail to understand that it is precisely because a minority live beyond 87 that makes it possible to offer a decent annuity payout with a small investment. Insurance is about shared risks. Those who die at 60 subsidizes those who live beyond 87. If everyone lives beyond 87, we would have to drastically increase the initial investment (which the poor cannot afford) or drastically reduce the monthloy payout (which is insufficient to live on).

eagle SG

so because of a few minority, you have to force the rest of the population to buy?

Just exactly how many is the minority, that the increase in GST cannot help?
Open the newspaper and count everyday, if u wish.

Imagine this in school: Just because a few people score badly in class, the whole class have to stay for extra lessons?

"Those who die at 60 subsidizes those who live beyond 87"
So you are penalised by dying early? Penalised because you cannot continue to feed the coffers any further?

Finally, I don't know if you even passed your comprehension. If you understood what I have said, you would have seen that I referred purely to the reason given for buying annuity, which meant:

1) Singaporeans are living longer (longer than 87, how many)

2) You need CPF/annuity to survive (Singaporeans are stupid, need to be taught how to save)

I'm in no position to say how much benefits you can get or lose.

kramnave SG

lol..think of it as army..one for all, all for one.

eagle SG

Well, do you think in the army, the people at the top understand what the people at the bottom are living and what they are thinking?

Trump_Card SG

Communism ... Rolling Eyes

kawasaki2 SG

They are quite clever.

Fancy putting on a nice table cloth to conceal the ants below it. Shocked

Poor ants getting bullied time and again.

How ......

kramnave SG

Then its up to Singaporeans to think whether they want the government to set policies to aid the aged when they live past expected lifespan or everybody for themselves. There won't be an ideal policy to fit everybody in. We want pension but we do not want to pay tax...basically thats the divide.

reddressman SG

I am not sure why new generation school children now are getting more bullied. in the genes? Mr. Green

reddressman SG

what you said is funny.

The rich is only 10% or so.

As you said, the rich can opt out. But they so rich, why they would opt out ? They basically have no urgent need to tap on their CPF. Opt in or out for them is not an issue. So, they may save the trouble to opt out and accept opt in. Of course there is no opt out option now.

So, unlikely more than 1% of the rich will opt out.

As you also said, the majority poorer, may like annuity like you.

So, why you worry about them opting out?

Thus, Opt Out should be safely given as an option, by your logic. the logic of oxford mushroom. He is the one whose views allow me to support my logic of Opting Out. Gazelle, report to your farmer master, he sabo your clan.

Mr. Green

feel free to be as angry as you want about my reply. Shocked

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