Stop the kidding
Anyone with a fully paid 3 rm HDB flat and prepared to rent out one room will have more than $300 income to get by. And this is inflation hedged as the rental will only go up with time. Not taking into account any other forms of income or savings. He DOES NOT need the $300 from any annuity scheme. All he needs is don't try to eat sharks fin, go to concert, drive a mercedes, admit himself into A class wards. Just live simply. He will have more than enough. What can a 85 year old do? Run around and feeding himself with viagra?