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8/15/2007

The CPF embarrassment

How best to look after the ageing population with their CPF money should be done by a neutral party that is free from all the encumbrances of existing interests and mindsets. Only an independent mind, with a simple objective of maximising the money in the CPF, can come out with a reasonable way to help the ageing population. And there is no need for a $3 million mind or even a $1 million mind. It is ridiculous to be embarrassed by superficial solutions that have been on the table all these years and push out as new and creative solutions. Any undergraduate doing his term paper would be able to come up with more exciting and innovative solutions. Empty the cup if we want to fill it with new tea. Or as they said, please don't teach old dogs new tricks. It is a waste of effort.

8 comments:

Anonymous said...

Hi Redbean, you MUST believe that the govt is doing the best for the Singaporeans. I am certain we are getting the best deal possible. Please be confident that your CPF is getting the best return.

Anonymous said...

It is ridiculous to be embarrassed by superficial solutions that have been on the table all these years and push out as new and creative solutions.


Redbean is rite. The solutions on CPF were piecemeal over the last decades, and in my opinion, real laggards which has led to alot of opportunities costs to the cpf holders.

If they have allowed me for instance to take investment risks 20 years earlier, I wud probably have a sizeable return on my CPF for my retirement by now.

I felt this liberalisation thing is just too little too late. I think it could have been bolder and more confident from day 1.

Anonymous said...

Just to add, this thing abt annuity has been around as long as the developed countries were around; how come then that we are only now seriously looking into it?

Shouldnt this issue be trashed out 10 or 20 years earlier?

Anonymous said...

Instead of being ahead of its times, this Cpf thing is seen evolving constantly just to keep pace with the times. When something is lacking, it is only right to admit it and move on. Nothing can be perfect all the time.

redbean said...

i am sure all of you without having to sweat the small stuff will be able to come up with a better solution.

i am embarrassed if i have to suggest annuity is a solution, and compulsory some more.

and yes, they are getting bolder, in compulsion.

Anonymous said...

First they tell you about it.
Then you agonise over it.
Then you talk about it.
Then the weeks passed.
Then the pain subsides.
Then you forget about it.
Then they implement it.
Then you live happily with it.

End of fairy tale.

Anonymous said...

Annuity is THE solution!
What are other options are there?

Anonymous said...

We cannot trust CPF to return 720pm for 20yrs but should trust an insurance company to return us 500pm till death???
Looks like our gahmen is saying that commercial firms can last longer and are better at serviving the old-folks than cpf can be!