Friday, June 22, 2007

There once was a time....

There once was a time when retirement age was 55.

Now we are looking at 62 or even 65.

CPF or Retirment Funds for many is not going to be within the reach of the retired, at least not immediately.

First, minimum sum goes up, then now withdrawal age also goes up. "Zap" "Zap" !!

I must be so dense as I completely fail to understand and appreciate that CPF is actually pension in the above article. CPF is pension meh?

and to rub insult to our being bullied into accepting this, is the fact that sometime back , a key Japanese minister resigned after admitting he failed to pay into the national pension scheme.

Also KEY to raising withdrawal age, is also the ability of all our Seniors to be employed, that isn't too easy leh!

Else they eat what? Hong is it? Lau liao, bor kang zuo, bor lui, jiak hong!

Remember this. Pension is State Funding for the old. CPF is our money!!!!

I thought it is bad enough to have a minimum sum that keeps going up and can only take out 50% of whats balance fom minimum sum at withdrawal age.

3 comments:

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Kaffein said...

Funny thing is of late, lots of policies seem to backfire and the money which they pay themselves don't justify it.

It's like the two-child policy which you know who implemented years back and had now gone awry.

The policies and the supporting arguments these days get more ridiculously that I no longer bother to read why they want to implement them. They are going to do regardless of public opinion.

Setting up a policy can take lots of hard work, research. But seeing it through to fulfilment takes vision, courage, guts and real heart for the people. I think the success of it depends alot on how connected one is with the ground.

This retirement age increase is just another policy gone awary. Even the CPF system is so flawed. My take is people don't mind working but companies do not want to hire.

So I'm not sure what the government is driving at.

tiny digit said...

Kaffein, thanks for leaving comments. Me just as blur as many are, or I should say disheartened.