have faith. don't jump the gun

I visited the YPAP forum just now and read the several harsh statements against Boon Heng's suggestion to raise withdrawal limits. I think it is unfair for these peasants to jump to conclusions before hearing Boon Heng out. His suggestion is carefully thought out, after spending 6 days in Japan with his team of experts to look into the aged problem. He did not shoot it off his mouth without thinking. The peasants cannot assume that a multi million dollar minister will do that. And the problem of the aged is very intricate and needs a thorough understanding of the complex issues around it. Of course the peasants will just shoot it off their mouth. Give the minister some time. In 5 or 10 years time the peasants will understand how well thought out the solutions were. Have faith.

japan to learn from singapore

Japan to study Singapore's pension and CPF scheme Heard, not sure if it is true, maybe dreaming, that Japan will be sending a high level delegation to study our CPF and 3M schemes. They have admitted that their scheme is a flop and they are very impressed with our innovative schemes. Kudos to Singapore. We are the light to show the way to a brighter future.

i am dreaming

I am dreaming that one day a govt will be elected and say 'Here is your CPF money. You can take it back at 55.' And the govt is setting up a retirement fund from its surpluses/reserve to provide for the needy above 65 years old. Not every 65 year old will depend on the govt for financial assistance. Now that will be the day.

myth 146

Liberalisation is not good The sale of the 3 power plant to private operators have raised fears that the prices will go up soon. Afterall these are commercial organisations that thrives on profit and profit is their only reason to exist. They are not buying the plants in billions of dollars to do charity to Singaporeans. But the management of the power plants have assured the consumers that they have nothing to worry about. It will not affect them. So the consumers can rest and sleep in peace. With assurance from people in high management positions, they must be telling the truth and nothing short of that. Let's see how the charges can be maintained, assuming the assurance means the charges will not go up. Labour cost is going up that's for sure. Rental is going up, another unescapable truth. And oil prices are going up. So how can profit continues to grow? Its elementary. Innovation, new technologies that are more efficient and cost cutting measures. When production and productivity go up and cost goes down, profit will go up without raising fees. So have no fear. It is a good thing.

The solutions oozing out for the aged

The solutions oozing out for the aged Boon Heng has come up with his first gem after his 6 days tour of Japan. Don't withdraw too early to extend the fun or fund. 3 more years before the minimum sum can be withdrawn. And this comes with many benefits. Senior workers will now have the opportunity to work till 65 or 70, and protected by legislation. Their savings will grow, and earn another 3 more years of interest. And they will not squander away their money too early. In a nutshell, their future is safe and sound. I am wondering, why, if they could work so many years more, which means they will have more income than outcome, at least until 65 or 70, depending on when they stop working, these years should be net surpluses. Why should the minimum then be increased further when their non economic lifespan is now shorter? Should the need for the minimum sum be lessen instead of increasing? Or they need to live on gold during their golden years? I know that they burn gold papers.