68% at and above retirement age today cannot reach minimum sum.....

[TopSage]

A commenter pointed out that we should be looking at the age group of those above 60 to see how many older Singaporeans there are who aren’t able to meet their CPF Minimum Sum. I did exactly that and found out that only 32% of older Singaporeans had CPF balances of more than $150,000.

This means that there would be up to 68% of older Singaporeans who would not be able to meet the CPF Minimum Sum and wouldn’t be able to take their CPF out at all!

Of these 68% of older Singaporeans who aren’t able to take their CPF monies out, how many of whom don’t even have savings because they have been earning low pay? A report in 2005 showed that 62% of older Singaporeans work because they need the money. Are there 62% older Singaporeans who simply cannot retire? Also, among the low-wage workers, a high proportion of them are the elderly.

http://www.tremeritus.com/2013/08/09/55-of-singaporeans-cant-meet-cpf-minimum-sum/

I am not going to repeat what the writer above has stated. You can click on the above link to read the entire article. Even by very optimistic estimates half or more than half will not be able to reach the targeted minimum sum by retirement age.

The PAP realising this a few years ago, patched this up with something known as the Parental Maintenance Act to legally force children to look after their parents. No other developed country has implement this for several reasons Doing so will severely strain the lower middle income families ...a working bread winner not only has to support his children ..he now has to support this parents this will cause fertility rates to fall as the burden to support 3 generations is too high. To make this work the cost of living has to be kept low and incomes has to rise steadily - the pap failed to achieve both. Such forced schemes also strain the relations between siblings and between parents and children as responsibility is forced down to a family with financial strain. It also cause poverty to spread from one generation to another limiting social mobility as such schemes cause financial strain on the lower classes.

While the pap broadcasted to every living room yesterday all the advanced defense weaponry and expensive gadgets...what I saw the same morning is the result of their lopsided policies that ultimately harm Singaporeans....what did I see?

This is what I saw on National Day
http://www.sammyboy.com/showthread.php?159382-What-I-saw-this-National-Day-at-McDonalds

 

[kopiuncle]

This is what I read this morning....rather disheartening from a Singaporean working in Sydney...

"My observation to young persons in positions of authority is that old age is something that afflicts everyone. Those in their 20s and 30s now should not be smug. If they are lucky – only if they are lucky – they may get to their 40s and 50s and beyond. They will be on the scrap heap as well then – if they make it to that age – unless they change the trend now given they are in a position to influence the trend at present.

The thing that really saddens me is that LKY, who spent the earlier part of his life building the country is now, aided and abetted by others in government, tearing it apart. He will be remembered, certainly by me, as both the father and destroyer of Singapore as we know it today. It is something I will never understand.

LKY has gone from someone I revered to someone I have little time for. I feel sad about that. I feel sad that I do not think I will be sad when he passes on. I remember as a kid in high school learning Majullah Singapura when it became our national anthem and proudly singing it. There is not much to be proud of now. I remember being so proud in the 70s and 80s of Singapore’s achievements.

I am not pro or anti PAP. I am pro Singapore and Singaporeans. When people do bad things to Singapore and Singaporeans it distresses me.

I can only hope that the elite in Singapore wake up to the fact that in the end what is bad for the average Singaporean will be bad for them."

 

[kopiuncle]

I feel very sad indeed.
But we will make amends and move on.
Majulah Singapura!!!

 

[Leongsam]

I am not going to repeat what the writer above has stated. You can click on the above link to read the entire article. Even by very optimistic estimates half or more than half will not be able to reach the targeted minimum sum by retirement age.

The PAP realising this a few years ago, patched this up with something known as the Parental Maintenance Act to legally force children to look after their parents.

It is not the government's responsibility to look after the old. It is a family responsibility. I looked after my aged parents till the day they kicked the bucket without asking for a cent from anyone else least of all the taxpayer.

My parents provided for me when I was young and they made lots of sacrifices in order to feed, cloth and educate me. It was only fitting that I showed my love and gratitude by providing them with a comfortable life when they grew old.

Children who leave their parents to struggle should be absolutely ashamed of themselves.

 

[kopiuncle]

It is not the government's responsibility to look after the old. It is a family responsibility. I looked after my aged parents till the day they kicked the bucket without asking for a cent from anyone else least of all the taxpayer.

My parents provided for me when I was young and they made lots of sacrifices in order to feed, cloth and educate me. It was only fitting that I showed my love and gratitude by providing them with a comfortable life when they grew old.

Children who leave their parents to struggle should be absolutely ashamed of themselves.

good morning boss!!!
excellent article
I totally agree!!!

 

[TopSage]

It is not the government's responsibility to look after the old. It is a family responsibility. I looked after my aged parents till the day they kicked the bucket without asking for a cent from anyone else least of all the taxpayer.

My parents provided for me when I was young and they made lots of sacrifices in order to feed, cloth and educate me. It was only fitting that I showed my love and gratitude by providing them with a comfortable life when they grew old.
Children who leave their parents to struggle should be absolutely ashamed of themselves.

that one should care and love our parents is not in.dispute however forcing those with limited means to ahould strenuous responsibility.will have long term harmful effects on income gap poverty and social.mobility

 

[po2wq]

... Even by very optimistic estimates half or more than half will not be able to reach the targeted minimum sum by retirement age ...

dey haf made craims dat wage growth 4 peasants is unjustified ... inflation increases evry year ... prices of evryting rocket ... dey wil escalate minimum sum weneva dey want mor moni from peasants ...

it can oni get worserer ...

 

[tonychat]

http://www.tremeritus.com/2013/08/09/55-of-singaporeans-cant-meet-cpf-minimum-sum/

I am not going to repeat what the writer above has stated. You can click on the above link to read the entire article. Even by very optimistic estimates half or more than half will not be able to reach the targeted minimum sum by retirement age.

The PAP realising this a few years ago, patched this up with something known as the Parental Maintenance Act to legally force children to look after their parents. No other developed country has implement this for several reasons Doing so will severely strain the lower middle income families ...a working bread winner not only has to support his children ..he now has to support this parents this will cause fertility rates to fall as the burden to support 3 generations is too high. To make this work the cost of living has to be kept low and incomes has to rise steadily - the pap failed to achieve both. Such forced schemes also strain the relations between siblings and between parents and children as responsibility is forced down to a family with financial strain. It also cause poverty to spread from one generation to another limiting social mobility as such schemes cause financial strain on the lower classes.

While the pap broadcasted to every living room yesterday all the advanced defense weaponry and expensive gadgets...what I saw the same morning is the result of their lopsided policies that ultimately harm Singaporeans....what did I see?

This is what I saw on National Day
http://www.sammyboy.com/showthread.php?159382-What-I-saw-this-National-Day-at-McDonalds

any Sinkies who go by the PAP system to have a life will get themselves screwed... so no need to think about taking care of your parents.

going by the system which is run by some incompetent sinkie losers is suicidal and you only have yourself to blame.

 

[tonychat]

All these problems will not have surface if sinkies got the balls to protest on the street and throw out the scum in white...

so now you have yourself to blame for all the shit which screw you.....so sinkie, your ass pain or not.

 

[Leongsam]

that one should care and love our parents is not in.dispute however forcing those with limited means to ahould strenuous responsibility.will have long term harmful effects on income gap poverty and social.mobility

It is not the government's fault that some individuals have ended up with limited means. The PAP has created ample opportunities for everyone and if some squander those opportunities and mismanage their finances in the process, they only have themselves to blame.

 

[bakkuttay]

All these problems will not have surface if sinkies got the balls to protest on the street and throw out the scum in white...

so now you have yourself to blame for all the shit which screw you.....so sinkie, your ass pain or not.

this is an extremely rare moment you spoke the truth.

 

[looneytan]

... so no need to think about taking care of your parents.

suit you fine, fucker, since you have no parents to begin with that's why your lowly life is so bitter

..... just follow them and die

 

[escher]

It is not the government's responsibility to look after the old. It is a family responsibility. I looked after my aged parents till the day they kicked the bucket without asking for a cent from anyone else least of all the taxpayer.

My parents provided for me when I was young and they made lots of sacrifices in order to feed, cloth and educate me. It was only fitting that I showed my love and gratitude by providing them with a comfortable life when they grew old.

Children who leave their parents to struggle should be absolutely ashamed of themselves.

Leongsam,

FUCK YOU!

You deliberately, for your own fucking agenda, refused to see that smear of shit on sole of shoe LKY and his gang of self serving greedy walking bags of excrement of PAP maggots cockroaches stolen and screwed hundreds of billions from sinkies in the first place making what could be a rich country into his poor fiefdom.

Anyway friends, this state of affair cannot last on.
You seen that smear of shit on sole of shoe LKY got to eat joss sticks and candle wax very soon
And be fucked and raped by the ghouls and demons waiting for him.

The Stinkapore sovereign funds of 700++ billions will entice that collection greedy vicious self serving scum of society where stealing toothpicks is not beyond their avarice that he touted as moral compasses
will start to front stab and back stab each other, kangaroos and paper generals included.

We get our freedom and the nightmare we had under smear of shit on sole of shoe LKY will be over.
Take heart and do not despair.
Much much better days will be in the future after our grand yum sengs

 

[streetsmart73]

I feel very sad indeed.
But we will make amends and move on.
Majulah Singapura!!!

hi there


1. kopi, the hard truth sucks big time.
2. yes, move on for these groups of individuals.
3. but move to where?
4. honest, many of such specimens are just wearing hats too big for its heads.
5. or building imaginary castles in the airs, oops! pigeon-holes.

 

[enterprise2]

Ban Retirement. Problem solved!!

 

[kopiuncle]

hi there


1. kopi, the hard truth sucks big time.
2. yes, move on for these groups of individuals.
3. but move to where?
4. honest, many of such specimens are just wearing hats too big for its heads.
5. or building imaginary castles in the airs, oops! pigeon-holes.

good morning sir
have a wonderful weekend
we will find a way out of this mess
majulah singapura!!

 

[streetsmart73]

Ban Retirement. Problem solved!!

work till death, natural or accidental hoh

 

[streetsmart73]

good morning sir
have a wonderful weekend
we will find a way out of this mess
majulah singapura!!

hi there


1. I always believe our destiny is in our own hands.
2. the only solution: 2016

 

[Leongsam]

Leongsam,

FUCK YOU!

You deliberately, for your own fucking agenda, refused to see that smear of shit on sole of shoe LKY and his gang of self serving greedy walking bags of excrement of PAP maggots cockroaches stolen and screwed hundreds of billions from sinkies in the first place making what could be a rich country into his poor fiefdom.

LKY has created so many opportunities and so much wealth that there is more than enough for every deserving citizen to become a millionaire twice over.

Those who couldn't make it in life have nobody to blame except themselves.

 

[zhihau]

Children who leave their parents to struggle should be absolutely ashamed of themselves.

well said! points for you!