All the hoo hah for nothing
The only thing good about the annuity proposal is to get people thinking and talking, creating a kind of buzz, a distraction, but all for nothing, actually. It will only affect a very small group of people. Maybe 1 in 10 will live to that age. May 2 in 10 of this group may need some charity. It is a scheme where many do not need. And those who need cannot afford it. It is like pushing insurance policies to the beggars in the street. What these people, who surely can do with annuity insurance, most probably have no money to pay for it. And they will try very hard to get their hands to the $3000 or $300 in their CPF or will cry for it. To them this is all they got and these few hundred bucks can do a lot of wonders to push back their appalling misery for a few days later. To those who have millions in their savings, they can pooh pooh or scoff at these pathetic beans. Ok, they have a good life. But do not do more to hurt the downtrodden. Forcing them to cough out their few dollars is more like squeezing blood out of them. It is painful. With such goodness being shafted down the throat of these desperate people, it is no difference from stuffing food down the throat of Peking ducks. No regard for their pain and suffering in the name of doing them good. Let those who think it is good for them, and they must have it, pay for it voluntarily. Then we will really see how many believe they will live pass 85 and will be desperate enough to want to depend on the pathetic $300 pm.