Set Aside Half Million Dollars From Reserves Into Every Singaporean CPF Account.
For a start, I sincerely apologise for making the following suggestion as an ordinary layman with no experience in accounting and what not. My suggestion may sound "silly" to some but it is made purely in good faith.
In putting forward my humble suggestion, I am not going to compare Singapore vis-a-vis many other truly rich nations like tiny Luxembourg, etc.. but would instead compare OZ which is nearer to home and comprise a society that is multi-religious and multi-lingual just like ours.
Everyone knows that recently our nation was ranked as the 8th richest Nation (a drop from the previous 5th) compared to OZ which came in 2nd in that rating. However, compared to OZ's 20 plus million inhabitants, Singapore has only a population of about 4 million citizens (leave out the others working here as FTs or unskilled workers from other shore for such people do not deserve to be included in the scheme on the basis and assumption that they are here to work, earn Sing dollars, get their PR and then scoot off to other rich nations like OZ). Remind me of Mr Goh Chok Tong"s famous remark of "Quitters".
This suggestion is strictly for those born here and where our males fulfill NS and reservist training under the provisions of the Enlistment Act.
Singaporeans have been told many a times that our Nation has hundreds of billions of dollars in foreign reserves. This is surely a lot of money that can and has rightfully generated handsome interest every year - accumulated in the millions.
I therefore call upon the Government to consider setting aside half a million dollars each into the CPF accounts of original citizens. This money will earn a good interest and grow into a huge figure in the future. The interest earned from this sum of half a million dollars becomes the "property" of the individual Singaporean concerned. The original sum cannot be withdrawn. The interest belongs to the individual for use as pension, purchase of public homes, education, etc..It should be locked up either by the Monetary Authority of Singapore or the CPF Board.
However, the government may be allowed to use the original sum for investments, etc..- be it Suzhou or some other undertakings by Temasek Holdings. Should such investments undertaken by the government incur losses, then the government is duty-bound to make good the loss. If there is a gain from such investments, it can be channelled it into the Nation's Reserves.
Such a scheme will make life easier for the people and inculcate in citizens the true sense of loyalty to the Nation. [B]It is strictly meant for those born here and NOT for those that become new citizens.[/B] The criteria is based on whether one has completed national service requirements under the Enlistment Act. Every Singaporean will take part, irregardless of one's past.
New governments coming in will be duty-bound to respect these policy. The elected President will ensure its continuation.
Form a Committee to discuss these suggestion. Many people will come forward to assist.
We are always encouraged to be part of the National Conversation. Here I am as a concerned citizen doing my part with this suggestion.
The advantages of such a scheme outweighs the disadvantages.
Surely the Gross Happiness Index Will Rise.
Reply With Quote
Originally Posted by Kinana
Bookmarks