8/18/2007

Parameters for retirement CPF

Today we are not dealing with chief clerks that only had a primary education to work out policies and decisions for us. We are paying top dollars for top talents and we must demand for serious and meticulous computations and for the best solutions money can buy. No more straight jacket one solution fits all occasions decision with no regards to how it can adversely affect many. We need to tailor make policies and decisions that are meaningful and appropriate and logical to the diverse population. The present one minimum sum for all and one medisave for all are unacceptable. If the govt still think that these kinds of solutions are good enough, then they don't deserve the million dollar price tag. The $120k minimum sum is too much for many and too little to many. How can this sum be shafted down the throat of all Singaporeans? You don't need a super talent to make this kind of decisions. An average university grad, pay him $3k a month will be able to come up with a better alternative. The parameters to revise and compute the minimum sum and medisave portion should include the following: 1. The income of the individual, which means what he is used to live on, or his lifestyle. It is not easy and simple. That is why the people are paid top dollars. When you get top dollars, you must serve out top dollar decisions. 2. The average life expectancy. Male and female life expectancies are different. Don't simply lump them together. 3. The assets of the individual. 4. The educational level. 5. Occupation. 6. Family support. 7. Health at 55, to determine the medisave quantum. And if someone is already served a notice that he has a limited days or years to go, he should be allowed to take back all his money. 8. There must be several options and variations for the people to choose from. Do not force people to accept simple and unpractical solutions by making them compulsory. This is the 21st century. We not only have super talents, we also have super computers, science and technology to come up with a sophisticated systems that can be tailor made to individuals or at least classes of individuals. Maybe class is a bad term. Called it social or income groups. The policy makers must start cracking their super brains for a super solution for the unthinking masses. The people are waiting, and watching. Any slipshod solutions must be criticised. The people must not allowed slipshod solution to get by without questioning and poking at them. Only then will we get a deserving and sound solution. The people must raise their level of expectation and push the govt to its limits. Only then can we get progress. The unreasonable man changes the world to suit his needs. We can have aircon in the middle of the desert and a heated room in the centre of the arctic. These are unreasonable things that are against nature. Man has conquered nature by being unreasonable.

4 comments:

Anonymous said...

Hi red bean,
I've been following yr blog with growing interest.
Excuse me for asking you here:

How do we know what's the price or value of gold now?

You see, I went with a friend to singpost pawn service for him to pawn in some gold for cash. Wow, he got a couple of thousands. In fact, my friend told me that it seems the gold he pawned got more $$ now than when he got for them 2 years ago!

Who decides how much gold should be worth?

Hope to learn some answers from you soon. Thank you very much.

redbean said...

the price of gold in pawn shop or goldsmith tracks the price of gold quoted in the gold commodities market. there will be a little variation. but if the price of gold today is higher than say 2 years ago, then the pawn shop will give you a higher price.

yes gold and many commodity prices have gone up.

Anonymous said...

Thank you for your answer, red bean. :)

Now I can strategize on buying some gold and keep for my loved ones. ;)

redbean said...

but remember, what goes up must come down. oops, i take that back. not in paradise: )