The Golden Years - Problems ahead...

[kopiuncle]

To the young, living to age 100 feels like a fantasy, and even reaching retirement seems like many lifetimes away. Yet, to the Beatles generation, When I'm Sixty-Four is no longer just a catchy song but a reality.

While the younger generation is duly preoccupied with whether they will have enough in their Central Provident Fund (CPF) account to buy their first home, the larger picture is that nearly half the population will live to 85, a quarter will live past 90 and almost 4 per cent will be centenarians.

To the potential Golden Ager, the prospect of outliving one's resources is all too real given rising standards of living and healthcare costs.

Furthermore, most of those living past 90 will not be able to depend on their children (if they have any) as they too will be retired.

So what policy changes should we consider to ensure our senior citizens receive better health financing and security post retirement? And how should such extended benefits be paid for?

http://www.todayonline.com/Commenta...025/Covering-our-super-seniors-for-a-lifetime

 

[kopiuncle]

As premiums for such products tend to go up with age, there should be a cap on premium rates beyond the Golden Year.

The various managers and actuaries of the different CPF insurance schemes are naturally protective about the viability of each scheme, and tend to make conservative assumptions about survivality, adverse selection and so on.

The end-result is that such schemes' "reserves" tend to accumulate as the worst-case scenario is unlikely to materialise for all the schemes year after year. Golden Agers end up bearing the brunt of this "kiasu" approach, in the form of higher premiums or lower benefits.

I hope to see all such CPF insurance schemes follow the actual Mortality Tables compiled by the Department of Statistics, without adverse modification.

I totally agreed with the writer!!! Good point! Every time I see my statement, my premium goes up with each passing year!!! There must be a cap for the premium!!! Please....how far will the increase continue - until we die!!! Until we cannot pay!!!

 

[kopiuncle]

It might be hoped that through the National Conversation, Singaporeans will come to a consensus that Golden Agers and centenarians should be treated with honour.

Lest I be accused of being xenophobic, consider the following. Many Employment Pass holders have their own national retirement schemes to count on and their CPF money is "bonus". Some others avoid taking up citizenship, or have only one spouse take up the invitation. Many have good personal reasons such as wanting to buy or keep land in their birth country for retirement, which they cannot do as Singaporeans.

Individuals should not be condemned for seeking the best advantage for themselves, but with a "Singaporeans First" policy, we can ensure that a larger part of CPF monies goes to Singaporeans, in particular, the "Super Seniors" for easing their Golden Years.

Good points!!! I hope changes will be made to ensure " Singaporeans First"!!!!

 

[po2wq]

prelude 2 dey want mor of ur moni thru ur medisave ...

 

[kopiuncle]

at the rate things are moving, the minimum medisave will increase....and it will be milked dry pretty fast.

 

[toolanliao]

LOL.. leetahbar aka bob sim is having a field day getting so much attention posting as kopiuncle.

that is the problem with you uncle lee or sim. you keep pushing up yr thread by replying to yrself, constructing your post with lots of !!! and acting like a religious lao virgin.

i can ignore u but i don't enjoy logging in just to filter your posts.

get a life pls.

 

[kopiuncle]

LOL.. leetahbar aka bob sim is having a field day getting so much attention posting as kopiuncle.

that is the problem with you uncle lee or sim. you keep pushing up yr thread by replying to yrself, constructing your post with lots of !!! and acting like a religious lao virgin.

i can ignore u but i don't enjoy logging in just to filter your posts.

get a life pls.

i am tired of replying to stupid people who are not only stupid but totally blind and silly. now go and get a life!!!
LTB can take you on anytime, anywhere, anyhow - you are a worm compared to this very enlightened LTB. now go and get a life!!! don't come and disturb me.

if you want war, go and meet my very good friends here in this forum: I_Hate_ Pappies, Narong and Wikiphile. Take them on if you have the guts, the courage and the stamina. They are my heroes in this forum. Now, go and get a life!!!

Talking to myself!!! You NUTS! or WHAT!!! Now go and don't disturb my peace. I am going to the mountain cave to hibernate soon.

 

[wikiphile]

i am tired of replying to stupid people who are not only stupid but totally blind and silly. now go and get a life!!!
LTB can take you on anytime, anywhere, anyhow - you are a worm compared to this very enlightened LTB. now go and get a life!!! don't come and disturb me.

if you want war, go and meet my very good friends here in this forum: I_Hate_ Pappies, Narong and Wikiphile. Take them on if you have the guts, the courage and the stamina. They are my heroes in this forum. Now, go and get a life!!!

Talking to myself!!! You NUTS! or WHAT!!! Now go and don't disturb my peace. I am going to the mountain cave to hibernate soon.

Good die there horribly

 

[kopiuncle]

Good die there horribly

good morning wikiphile...sorry i mentioned you. good day. i hope you typed wrongly. peace ok. i surrender < white flag>...tolong tolong bang jangan lagi ...saya sangat takut <trembling with cold sweat>....sabar sabar bang...sabar sabar...sekarang ada banyat nuclear bombs...jangan main main.....selamat jalan bang ...tolong tolong...maafkan maafkan...maafkan..lol:-)

 

[streetsmart73]

Good die there horribly

hi there


1. wiki, choon boh!
2. you and kopi are pals meh?
3. i just cannot believe it leh!:*::*::*:

 

[hairylee]

[video=youtube_share;l-_uEmdmSsY]http://youtu.be/l-_uEmdmSsY[/video]

Sometime dying is a better alternative.
Many equate long live to blessed life.
Think again when one cannot walk and carry on normal daily life.

 

[Charlie99]

To the young, living to age 100 feels like a fantasy, and even reaching retirement seems like many lifetimes away. Yet, to the Beatles generation, When I'm Sixty-Four is no longer just a catchy song but a reality.

While the younger generation is duly preoccupied with whether they will have enough in their Central Provident Fund (CPF) account to buy their first home, the larger picture is that nearly half the population will live to 85, a quarter will live past 90 and almost 4 per cent will be centenarians.

To the potential Golden Ager, the prospect of outliving one's resources is all too real given rising standards of living and healthcare costs.

Furthermore, most of those living past 90 will not be able to depend on their children (if they have any) as they too will be retired.

So what policy changes should we consider to ensure our senior citizens receive better health financing and security post retirement? And how should such extended benefits be paid for?

http://www.todayonline.com/Commenta...025/Covering-our-super-seniors-for-a-lifetime

Perhaps, it not so much rising standard of living, but more imporatant is the continuing increase in the the cost of living.
We may not have to be living a high standard of living, but as long as it is reasonable, clean, nutritionally balanced meals.

 

[wikiphile]

hi there


1. wiki, choon boh!
2. you and kopi are pals meh?
3. i just cannot believe it leh!:*::*::*:

The lord's prayer

Dear God, please make the insidious character known as ronron or sometimes kopiuncle die horribly

Amen

Pray 3 time a day like me and maybe a miracle can happen

 

[Rogue Trader]

Dear God, please make the insidious character known as ronron or sometimes kopiuncle die horribly

Amen

Horrible death or not, if you abuse your own elderly parents, you will go to the deepest depths of hell!!

 

[erection2015]

Room # 1421 is reserved for the fourm host.

Horrible death or not, if you abuse your own elderly parents, you will go to the deepest depths of hell!!

 

[kopiuncle]

...Sometime dying is a better alternative.
Many equate long live to blessed life.
Think again when one cannot walk and carry on normal daily life.

I totally agree with you brother. I will kill myself when I become a burden to anyone in my family. No medicines.No hospital bills.,No doctors. Just dope me to sleep and say bye bye.No need to cry even.

 

[LeeLaoPeh]

Tahsar did not abused me , we fighted like 2 martial artist .

 

[LeeLaoPeh]

I totally agree with you brother. I will kill myself when I become a burden to anyone in my family. No medicines.No hospital bills.,No doctors. Just dope me to sleep and say bye bye.No need to cry even.

Tahsar , you are a jobless and a burden , should kill you self 10 year ago .

 

[kopiuncle]

Perhaps, it not so much rising standard of living, but more imporatant is the continuing increase in the the cost of living.
We may not have to be living a high standard of living, but as long as it is reasonable, clean, nutritionally balanced meals.

I agree with you. Those elderly, above 80 and 90, should be given free healthcare.The burden should not be given to their children.Many of them have no children to take care. It's a sad ending really.Very sad if you see those who are unfortunate enough to stay alone and die in the toilets of their homes. Sometimes dead for weeks!!!

 

[kopiuncle]

Tahsar , you are a jobless and a burden , should kill you self 10 year ago .

this is getting very interesting after a pretty dull week....