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10/12/2011

Another piece of frightening news?

The people may find this piece of news frightening, but to the govt it is good news. The MOM is going to help the oldies again. Dunno why, whenever the govt says it wants to help the people, I got a very strange and uncomfortable feeling. This time the MOM is thinking of reviewing CPF rates for the above 50 uncles and aunties, the vulnerable group that have found themselves having not enough savings after a life time of savings. Dunno why, and nobody knows why. They must have squandered them away in wasteful spending.

So here comes the govt to help them, and very likely to raise their CPF and employers contributions. And the magical scheme called CPF Life will be relooked into to ensure that the annuity will be paid for life. The insurance men are smiling. Tell you what, I don’t like their smile. The longer the payout, or the more the payout, the more will be the pay in. And the longer annuity is to last, the longer it will stay in. As simple as that. If they plan the annuity to last till 120 years, it means whatever money, a big portion will stay in till 120 years. Simply ingenious and logical.

And I can already see how good the scheme is. And it is so good that it will be made compulsory for sure. Our reserves are going to get another boost and the country will be richer, and have more money to invest in big big deals. We can buy up the world.

This is going to be another win win formula, good for oldies, good for employers and good for the national reserves. It can’t be that frightening right?

The people are so lucky. Now they can live till 120 years or more, forever, and there will be more to take.

6 comments:

Anonymous said...

Why don't the goverment just let the senior citizen retire with grace?
It is a NATIONAL DISGRACE that there are so many senior citizens who still have to sell tissue paper and wash toilet or clean hawker centre tables!

Everytime, a foreign friend ask about this, I FEEL SO ASHAME TO BE A SINGAPOREAN!

Anonymous said...

The govt is very proud of this trend. They are giving dignity to the oldies.

I say thank you. Just give the oldies some money to get by and to enjoy their old age in a more leisure pace. They don't need this kind of dignity.

Anonymous said...

When majority of Singaporeans; about 60% at last count, are pacified or even happy with peanut(piecemeal) handouts, they deserve to be treated like monkeys.

patriot

agongkia said...

Yes.Must punish the employer and make them pay higher CPF .Should also consider to force them to pay all employee a monthly pension after retirement until they die.Everything must POW.
Funeral expenses must also be provided including the coffin.U name it ,U should have it.Its employee's world.Whether Towkay survive or not,not Garmen problem.Business close down,that 12 th storey is just around.,its their incapability to do business,not Garmen's fault.Garmen duty is just to please you people.Open mouth only.Force Peter to pay Paul.Its the Peter who pay.And you people will be happy .Credit must go to our top talent.

Anonymous said...

Each time I saw a senior citizen selling tissue, I will try to help and also advise my friends to do the same. BUT how many can we help?

The government don't even help the senior citizens that built this country but instead help FT to come and pollute this country!

What has this country become?

Anonymous said...

Amitabha.

It is indeed frightening news!