Concern over greying

Siew Kum Hong was concerned about the future of the greying population. He forgot that Lim Boon Heng is now looking at the problem full time. There should not be any problem when Boon Heng comes up with his solutions. Kum Hong's concern is that the greying population, especially the rich and able, will find a better and cheaper place to live. They are disenchanted with the life for the aged here. What could they do when the cost of being old is so expensive? And Boon Wan has also worked very hard, together with the CPF, to make sure that the old have money to keep themselves alive, and to feed the hospitals. The best solution actually is for them to take out all their CPF savings and move to a cheaper country to live. How can they afford such an expensive Singapore when they could live in easy comfort say in Sri Lanka or Malaysia? There are many options available out there. There is no need to think so hard of what to do with them. The solution is very simple actually. No need to exercise the brain juice of expensive brains.


Anonymous said...

And what makes you think other countries want to take Singaporean elders into their countries and put more burden on their own healthcare systems ? Talking through your arse again, I see.

redbean said...

they will pay for everything they need, which will still be cheaper by half just on exchange rate alone.

$100k in any Asean country can go many miles more. Back home it will be wiped out in one hospitalisation.

Anonymous said...

Let the two Boons solve the problams.

TuraiKiller said...

Have u quy wonder why healthcare system here so expensive?
Let move on the hospital bed alone per day cost from few hundreds (class C to B) to few thousands (class B1 to A) & why that uncomfortable bed sharing with other patients need to charge so high even higher than hotel bed which provide quite, spacies, queen to king side mattress (good quality & branded), good services, good food (free) & more than what our costly hospital can compete with.

Why our hell minister has not asked himself? He has allowed & certify a lot of developed country doctors to come over here then again it should bring down the hospital operation cost b'cos no need to train new doctor & got plenty of experience cheap doctor so shouldn't healthcare system be cheap & affordable not just mainly to riches & millionaire leaders & the poor & middle income should feel sustainable as well but it seen low & middle income can die & can't afford to fall sick, so sad "world class" nation can't take care their own citizens.

Is it all b'cos of our leader always highly emphasise on economics & profitable issue until they have loss with no sense of social responsibilty.

redbean said...

let me put it this way. when a kacang puteh tells you something, you better think and think before you believe him. but when a super talented man, with good intention, tells you that he is doing it for your own good, you better believe him, especially when he is proven to be good.

question only those that are of low talent.

Anonymous said...

To feed the hungry hospitals, they have to keep on raising the medisave savings, meaning you will take out less money upon reaching retirement age, meaning you have to work a couple of years longer, meaning you may not live to see your CPF money.

Anonymous said...

Anonymous said...
And what makes you think other countries want to take Singaporean elders into their countries and put more burden on their own healthcare systems ?

Got money got talk,
Got no money got no talk

Actually redbean, the solution is exactly what they are doing now, to import young middle class and wealth manage the rich. Immigrants, wther pmeb can easily replace the old farts that go off.

You can go away and be somewhere, you are not needed or missed so long as your Or enough money is managed here everything is well and ok.

Anonymous said...

But if you are rich, you are our preferred client in our first class hospital.

If not a saudi, indonesian, china, philippines or watever tycoon can just easily replace you as our first class prefered client.

Got money got talk.

redbean said...

why would people think that this is the way to go, that the people must set aside a lot of their own money to pay for medical fees at their old age? this seems to be the wisdom of the day.

is this the meaning of living, working and saving? is this the life of a singaporean? living to pay hospital bills?

Anonymous said...

Redbean, you seem to think that Singaporeans should not be setting aside money to pay for medical fees in their old age. Are you suggesting that poor Singaporeans should let the Government conduct mean testing on them and those who are penniless should be allowed hospitalisation without paying.

redbean said...

no really. the issue is how much to set aside. not everyone needs $100k cash in their old age. not everyone needs $40k cash just to provide for medical care. just multiply these amounts by 2 mil or 3 mil, or 5 mil, when our population goes up.

just use $100k x 5 mil, ie $500 billion to be tie up in savings!!!!

can't some simple annuity or medical insurance plans be worked out that probably need 20 or 30% of these amounts to do the same function?

Anonymous said...

Medical fees in say malaysia is almost like free you know.

You can upgrade Macdonalds to charge Crystal Palace prices, and then educate the masses to accept your premier brand position.

They make like it or may complain abt that, but if you are running a cartel or monopoly in the food business you dun need much persuasion for your customers to accept your logic.

Anonymous said...

redbean said...
why would people think that this is the way to go, that the people must set aside a lot of their own money to pay for medical fees at their old age? this seems to be the wisdom of the day.

is this the meaning of living, working and saving? is this the life of a singaporean? living to pay hospital bills?

You pay your dues when you are working fit; since the country has grown as an indirect results of your fruits, it would gladly absorb all your medical fees and take care of you foc after 65. It is afterall only abt 15 years or less.

This is chicken feed and need only to take out a small percentage of the country's money pile.

Anonymous said...

Guys, hot hot one from oven!

"Withdrawal age of CPF minimum sum may be raised to 65"


Wa lau eh! Next time old got CBF also cannot talk talk liao. Maybe only tok tok with our tongkat!! Si beh jia lat liao la!!
Eh sai si. Buey sai lao!*

*Can die. Cannot grow old.

Sengkapolians Not Stupid. Even Old Liao Also!

Anonymous said...

http://www.channelnewsasia.com/stories/singaporelocalnews /view/283363/1/.html

Anonymous said...


Sori ah!? Dunno why link cannot paste properly leh!?

redbean said...

i also not very good at pasting.

but if withdrawal age is 65, then it is good news for many singaporeans. they can then expect the govt to plan their lives at least up to 65 and they need not have to think about it. nothing to worry till 65. how nice.

singaporeans must be very grateful to have a govt that takes good care of them, until they 'bo gay' also got need not have to think.

'bo gay' means toothless with old age.

Anonymous said...

Apa la lu, merah kachang!?

Hong dou, ni lao ren chi dai ar?

Yuan de bian de na de neh neh

What's with U, Red Bean!? Dementia ah? Pasted 2 times!?

4 (malay, chinese, indian, english) languages in Sengkapoh pooing U now, Red Bean!

redbean said...

where got paste two times?

Anonymous said...

Friend of mine who likes to rant and ramble loudly when making it told me he uses 2 condoms for the job! Redbean, is that possible?

Matilah_Singapura said...

The CPF system is a giant Ponzi Scheme aka "Pyramid Game". Current members contribute to subsidise members who are to receive "benefits".

Many people believe that "No, I have my own money in an account in my name". Sorry pal, that is just an illusion. The govt, with a stroke of its official pen can change the rules any time, for any reason they care to give you. (all reasons they give you are crap—and could be defeated in an argument because of the contradictions)

There is going to be a CASH CRISIS—why do you think they are raising the "gimme-my-money" age to 65? The baby boomers are a large portion of this greying segment in society. What happens if they all pull out at 55? Collapse. Why? Because there's not enough money there! Still believe that you actually have "money" in that account in your name?

It's lucky that people will be able to pull out their dough at 65. Great, they work all their life like dogs and if they are patient and able to live that long, they will get some money at 65. But some money must be kept in the "account" (should raise the suspicions... because there's not really any money there!)

IMO, it won't belong before the raise the pull-out age to 75 or 80.

But what to do? Many people believe in the myths and contradictions CPF is based on. Some may argue "well it's worked for me, so what's all this nonsense about a Pyramid scheme?"

Well that's exactly my point: CPF, like any Pyramid Scheme, WILL work for the early recipients, but it is UNSUSTAINABLE in the long run. In order to make sure the "game" (scheme) doesn't collapse, the govt restricts access to money supposedly OWNED by you.

Hahaha! Suckered! The People get the govt they deserve—no exceptions.

redbean said...

hi anonymous,

this friend of yours is wasting his time, effort and money. he needs to take lessons from matilah.

redbean said...

pull out at 75 or 80? can't even move without creaking.

Anonymous said...

what's yours' mine and what's mine's mine

Anonymous said...

Redbean, got money doesn't mean other countries want, mah. Not all countries like Singapore one, open their legs wide, wide to non-citizens even those wif money.

Matilah_Singapura said...

hey anonymous 11:24,

I don't usually give "lessons", redbean is misleading you.

However... tell your friend to wear at least 6 condoms— in that way his small cock will be artificially enlarged. Also tell him not to rant and rave but to scream and grunt incoherently, and pull his boyfriend's hair. ;)

Anonymous said...

and once you do that it might wag and bark mati lah right?

Anonymous said...

Wah! Si beh pai seh hor, red bean!
I lao hua yen liao! Eyes blur aredi. Think I saw U pasted twice.. Hahaa!!

Sori k, sir. ;)

I am Anonymous June 20, 2007 7:06 PM

Anonymous said...

Sori for sidetracking here, Red Bean..
May I check with Mati:

>There is going to be a CASH CRISIS<
What is a cash crisis? How does it impact us?
Thks. :)

Yrs Truly,

redbean said...

no lah. you not lau hua yen lah. i thought i was tipsy when i saw double.

then you reminded me so i quickly deleted one of the double : )

Matilah_Singapura said...

anonymous 1:12

CPF CASH CRISIS— for e.g. when the large amount of Baby Boomers reach a certain age, all together and draw out their CPF, thereby depleting the fund very severely.

How does it impact you? Simple: your contributions might increase, there may be additional legislation to prevent you from using your money.

The raising of the CPF withdrawal age may stall or temporarily avert a cash crisis, but one could still occur.

BTW, I'm not the originator of this idea. Many folks in the finance sector as well as the govt's own people have alerted the unwary about the possibility of a cash crisis.

Anonymous said...

U cunning bean! Pasted twice then delete then act blur huh! Some more I always gong gong faithfully share in yr blog here!? ;P

Thks for clearing the air, Mati.
But is the cash crisis something U & I or anyone can do something abt, to say, avert or reduce its impact? Besides the gahmen?

Matilah_Singapura said...

anonymous 10:05

No there is nothing any of us can do about it. What we can do is protect ourselves from govt failure—any govt failure. Sometimes total protection is not possible, however you can reduce the impact somewhat.

The ways to protect yourself against CPF collapse is:

1. Get as much of "your" money out ASAP—buy property or immigrate (surrender your S'pore citizenship) and take out all "your" money.

2. Make sure you have private schemes to provide for your security AND enjoyment in your old age: passive income from assets, insurance, filial children, well-paying second career, marry or be the lover of a rich widow/widower etc. I'm merely citing some examples, off the to of my head...

CPF being a TAX is, IMO, best treated in your mind as sunk money. Sunk Money is akin to spilt milk—there is nothing you can do about it except accept it for what it is, let it go, and get on with your life. In that way you free your mind of unnecessary poisonous worry and anxiety, and time-wasting effort, over something you have ABSOLUTELY *NO* CONTROL OVER—a government scheme.

BTW, you have absolutely NO CONTROL over ministers' salaries, freedom of speech laws, 3/4 tank rule, banning of chewing gum etc etc. so it is pointless worrying about them. In fact ALL WORRYING is pointless.