If PAP government is sincere in giving a fair deal and protection to our citizens retirement, it should give us GOOD OPTIONS, so GOOD a DEAL that we cant resist at all instead of forcing us into FORCED gambling on Life Annuity! First thing they should do is to get rid of is CPF LIFE PLUS scheme which is basically a reap off and a scam. Install a scheme that GIVES MORE VALUE to Singaporeans, to entice them to keep a substantial amount for their own retirement, a deal that they couldnt resist at all. Dont try to fool or cream us off from our hard earn CPF money. Give us the incentives to make us want to continue to put our money in CPF for our retirement. On the other hand, give Singaporeans to decide whether they want to continue to put their money into CPF at all. Some Singaporeans may know that they may not live any longer due to illness or whatever reasons and wanted to take out all their money to enjoy their fruits of decades of hard work as their last wish. Let them do so with dignity. Some people may have OTHER plans for their retirement. eg. start a small business to kill time etc. Some may know how to GET MAXIMUM value out from their CPF money. Let them choose what to do with their CPF money. Of course, there will still be some who will waste their money in some irrelevant things like gambling. So be it. They will have to face the consequences of their actions. Most important of all, Financial Management knowledge SHOULD BE TAUGHT in schools, to our students no matter what course they take. Basic Financial Management knowledge is a MUST in this globalized highly volatile and inflationary world. Provide the necessary and sufficient knowledge and skill set to our people to learn how to manage their finances, instead of installing all sorts of FORCED financial schemes down our throats. This should be something a RESPONSIBLE Government would do for its people, instead of thinking of all ways to cream off our citizens hard earn money.
Posted on: Thu, 18 Dec 2014 10:16:03 +0000
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