Friday 21 September 2007

CPF Annuity

Singapore time 7.42 am 21st September 2007

I don't know much about annuity which is like an insurance scheme to pay client during their old age till they die. There is no balance to go to the benefactor.

Intention for the scheme is the assumption that Singaporeans will live longer beyond 85. The handful above 85 is low in percentage point. So many people might not like the scheme to be implemented or want opt out clauses for them.

Life and death are natural. The government should not do too much into everyday life of Singaporeans. The teaching of moral is more important. Filiel piety should be promoted. Or else Singaporeans will just be very indivualistic and selfish as they know their parents have enough money for their old age.

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