'Singaporeans did not have enough savings for retirements' I can't believe that this is true. And it is true given the concern expressed by MPs. Look at this. [b]Helping Singaporeans save for retirement a concern for MPsBy May Wong, Channel NewsAsia Posted: 31 July 2006 1958 hrs SINGAPORE : Singaporeans' lack of savings for retirement is a key concern of some MPs; this is especially worrying as Singapore is facing an ageing population. By 2030, one in five Singaporeans will be aged 65 years and above, and being financially independent may be a problem if Singaporeans do not start saving for their old age now. [/b] How could Singaporeans be short of retirement fund when we were the second highest savers in Asia after Japan? How could that be when the Govt has stashed up $200 billion in reserves? How can that be when the Medisave Account requirement is $30k and will go on higher? How can this be when the minimum sum is $80k and will be more over the years? Where have all the money saved the Singaporeans gone to? I can think of two big holes. The depreciating assets in the homes they paid for and the money lost in the stock market. How much were lost? My ballpark figures are in the billions. Maybe more than $10 billions. But with $30k in medisave and $80k minimum in CPF savings, would not that make retired Singaporeans filthy rich? Why is $110k minimum of strong S$ be considered not enough? Not enough according to who? Many around the world would be thinking a a happy retirement with this kind of money in their savings. What is wrong with these numbers? What happens when all the money is not enough? Cost of living, the cost to keep one alive in Singapore is getting ridiculously high. A retired Singaporean must have at least $110k in their retirement fund and still considered short when all he needs is a roof over his head and his 3 meals. What are the basis of computation? Still want to travel around the world, live in 5 stars hospital, swinging with dance partners, enjoying fine dining? I would think many would be lying on their backs staring at the ceiling and with no appetite to eat. Can't see much or hear much. Should keeping an ageing person alive cost so much?