Punished for being self employed
Many of the oldies are fully retired and living on whatever they have left in their savings, plus whatever they could withdraw from their CPF. Some oldies refused to quit and wanted to continue working. Getting a job is out of question unless you are a super human bean and indispensable. They may even pay you millions to keep you employed, happily. So the less talented and not so super human beans will try to be self employed. Some may sell things in pasar malam, some as agents of this and that, except secret agents, some may try driving taxis. Some may want to start a small biz. What they all wanted to do is to earn a living, post retirement. What they did not bargain for is that by being self employed, they must pay protection money to the CPF in the form of medisave contribution. They don’t care whether you have any other insurance to cover your backside, they don’t care whether you can afford to pay this protection money. They just say you pay if you want to be in business. And they will tell you that it is for your own good. What a ransom against the oldies who are trying to be independent and not drawing down on their little savings. What kind of business cost is this? Bloody shit! It is like being punished for trying to help yourself. And they are trying to help you by taking more money from you. Or are they making things more difficult for the oldies to want to be self reliant? If they sincerely want to help the oldies, self employed oldies should be exempted from contributing to Medisave to reduce their business cost.