"I don't want to have anybody who is 85 years old or 90 years old and say ‘my CPF finished, I have no insurance, and now I need to live. And I have nobody to look after me… then what happens?" PM Lee Hsien Loong
Now how to make sure that everyone will have money at those queer ages? Take their money first and keep them till they reach 85. Its elementary. The people must provide for themselves. There is no charity. Problem solved.