No need for annuities and CPF minimum sum scheme

I say it again, there is no need for annuities and CPF minimum sum scheme for the oldies. Not everyone needs them. And I am not referring to the millionaires or those with family support. I am referring to those with a 3 rm or 4 rm HDB flat. They should be independent and and can expect to retire without the need for minimum sum in the CPF. For those with bigger flats, better still. The alternative and the best solution to this group of people is the newly created HDB leasebuy back scheme. With this scheme the income generated should be able to see them through their golden years. The scheme needs not be restricted to those with only one bite of the cherry. Why should it be if we can unlocked the value of the property for them? But I read in the Straits Times of some comments that the return will not be enough. How so? One commented that a 3 rm HDB flat worth $160k today will be worth only $50k when the remainder lease is 40 years after the buyback. Another commented that the return will only be $400 a month. Really? The experts said so, so must be true. Bull! I totally disagree. Depending on the location, a 3 rm HDB flat can be rented out, say in Redhill or Queenstown area, easily for $1200 to $1500. Maybe more, regardless of the lease life as long as they meet the tenant's tenancy. And very likely to be more in the future with inflation and the rising rentals in these areas. And that will be much more than what the minimum sum or annunity can provide. The rental value or power of these flats must be taken into consideration to ascertain the real worth of these flats. Please do not shortchange the flat owners just because they can't count.