Why is this information important?
This is because the government said that the Minimum Sum is the amount needed to “get a monthly payout of about $1,200 in 10 years’ time when (a person) reach(es) age 65″. The government said that this is calculated based on how much a “lower-middle income household would spend on daily living”.
Thus if 85% of Singaporeans are unable to meet the Minimum Sum, this would mean that 85% of Singaporeans would not even be able to receive a monthly payout of $1,200, or not even be able to live the most basically, that is required for a lower-middle income household.
It is thus important for Singaporeans to know how many of ‘all’ Singaporeans exactly are able to meet the Minimum Sum in cash only.
The Manpower Minister side-stepped these questions. These questions were not answered at all....
http://thehearttruths.com/2014/07/2...ans-have-government-does-not-want-us-to-know/
This is because the government said that the Minimum Sum is the amount needed to “get a monthly payout of about $1,200 in 10 years’ time when (a person) reach(es) age 65″. The government said that this is calculated based on how much a “lower-middle income household would spend on daily living”.
Thus if 85% of Singaporeans are unable to meet the Minimum Sum, this would mean that 85% of Singaporeans would not even be able to receive a monthly payout of $1,200, or not even be able to live the most basically, that is required for a lower-middle income household.
It is thus important for Singaporeans to know how many of ‘all’ Singaporeans exactly are able to meet the Minimum Sum in cash only.
The Manpower Minister side-stepped these questions. These questions were not answered at all....
http://thehearttruths.com/2014/07/2...ans-have-government-does-not-want-us-to-know/
