The truth behind PM's Lee proposal to defer CPF drawdown age

robertteh SG

There is a lot of hype about citizens living longer in the PM's National Rally speech.

Let us examine what he has said to see whether the whole proposal to defer CPF draw down from the macro-CPF retirement original scheme is based on truths or untruths, fallacies or look-good presentation.

Truth is some people 55 and above tend to live longer but are citizens being told as if all of them are going to live till 85-120? What is the % distribution for this group of oldies living beyond the past life span of 76-78?

How many thousands of oldies indeed will live past 85-120 at the last count? How much will the state have to pay for the shortfalls of say S$200 pm in CPF savings beyond 78 pa.

How much windfall profits are HDB/URA/LTA creaming off from the population over a lifetime from double-charging on lands and how much will be the % given back to them for unexpectedly living beyond 85-120 based on 10% or 15% or 20% of oldie living beyond their normal average span.

If say 15% of older people 55 and above are living longer by 2020, must we assume that 100% of the population 55 and above must live longer and have to give up their life-long dream of using their CPF savings to brighten up their struggling lives for their twilight years.

BY PM Lee's assumption, the remaining 85% of oldies better help to pull together their resources in order to save the state some monies to help out a couple of millions retirement supplements (which can easily be derived from land sale profits or GLCs profits). This is how fallacious top-down autocracy can cause suffering to the whole population - always based on some look-good detached statistic garbage to get away from solving real problems created by them due to wrongful policies of squeezing people in the first place.

Lin Yu SG

peasant depend on each other CPF to survive on $300 pm and ministers depend on peasant taxes to payout pension of $180,000pa for every million
Evil or Very Mad

Manager433 SG

Can anyone here tell me if you can live till the age of 85? Yesterday we have someone died at the age of 25. Few days ago, 19 yrs old young man 'key chia' also. And also a VVIP died at the aged of 84, just 1 more yrs short of 85. Once u hit the old aged of 65, your knees will go weak, brain not so good. Walk a few steps will fall down and break your hands or legs liao. Drive taxi maybe can but if you really come across a senior citizen taxi driver, just observe the way he drive the vehicle.

Congratz 66.6 for giving us more good years ahead.

robertteh SG

At first we are told as citizens there is no free lunch and welfarism for any one. Now look who is asking for free lunch and welfare ? Are citizens getting free lunches ? Who are taking tax payers' monies without their clear consent including double salaries - one for above-market bill-collector over-blown salaries passed by their own party members insidiously benchmarked to the few lucky lottery winner CEOs/bosses in the market while another salary called pension for topping up on supposedly underpaid but actually uppish above-market overpaid salaries.

justcooler SG

What to do

66.666% of us approved of their actions...

So how can we blame them, we only have ourself to blame Crying or Very sad