12/30/2006
myth 107
When saving is not enough
How many people around the world can afford to consistently save 20% of their income over a life time of employment. And how many can afford to save 33% of their income?
This is a ridiculous amount of savings for anyone over a life time.
The sad thing is that this amount is not enough for a peaceful and satisfying retirement. Not enough to live, travel and see the world for many Singaporeans.
This is the plight of many Singaporeans. How is this so? What is wrong with the formula?
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22,000 people claim S$2m from Medisave for diabetes treatment
SINGAPORE: To date, about 22,000 people have withdrawn about S$2 million from their Medisave to pay for diabetes treatment at clinics.
On average, patients use Medisave to pay for about three-fifths of the bill.
The Health Ministry says the programme is running smoothly and is looking at how the scheme can be further extended to cover other chronic diseases.
The scheme for diabetics started three months ago and about 700 family doctors, or about half the number in Singapore, have signed up for it.
From January 1 2007, Medisave can be used to treat three new chronic diseases ?high blood pressure, stroke and lipid disorders like high cholesterol.
The Ministry estimates that the four diseases affect about 1 million Singaporeans. - CNA/so
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