Singaporeans are so lucky. They can now look forward to a stream of retirement income for life. And they have a choice of having more upfront or leave more for their beneficiaries. This is really good in paradise and Singaporeans have to thank their lucky stars for having a good govt to provide them with such a comprehensive retirement plan.
Where did the govt get to money to provide such a great retirement scheme? Fuck it, it is our own money isn’t it? With the CPF scheme, the govt does not need to provide any more social security for the people with a few exceptions. There is no need to budget for such an expenditure anymore. The people shall provide their own retirement fund for their own retirement plans. And no need any subsidies. The people are on their own from birth to death.
Every Singaporean will have to be part of this plan, like it or not. And it is also reported in the ST that ‘two thirds of those aged 65 and above receive family support and do not need to tap these schemes. So two thirds were in for a joy ride when they do not need it? Right? And all their money held in ransom!
I can’t believe that such a comprehensive scheme that forces the whole population into compulsory savings and compulsory insurance schemes is only because one third of the people needs it.
What can’t there be fine tuning to allow those who do not need it to be spare the compulsion? By the time someone hits 60, the cards are all on the table as to what they need and whether they need to be compelled to such schemes. Shouldn’t they be given the options to be in or out, or half in half out? Why should two third of the people be punished because of a one third minority?
Are Singaporeans lucky or unlucky to have such a caring govt that even plans for their retirements with their money?