Chitchat Pensioner asks for $30 more while ministers continue to earn millions.

[halsey02]

PAP ministers appointed to office from May 2011 will not receive pensions anymore.

http://www.channelnewsasia.com/news...-abolishes-parliamentary-pensions-act-8361006

Pensions work well when there's a small pool of pioneers supported by a large pool of young workers. The golden age of pensions were from the 1950s to 1980s. Since then, there's too many old folks and a shrinking work force. Pensions are nothing but a burden. Learn to plan your own retirement. Use your CPF wisely.

But the pool of pioneers give birth to the pool of young workers, who should be supporting the old timers; for without them, they would not exist!... ha ha ha ha ha

Pension was an old system inherited from the British, the monies were usually deposited into the old colonial banks like Chartered Bank, later Standard Chartered Bank, Hong Kong & Shanghai Bank, later Hong Kong Bank; in Trustees accounts. Which many still exist for they are still many old foggers still around. There were the 'planters' & people men & women from the old era, who never got married settled here & some even died here. leave behind monies in Trustee Accounts.

Mind you the old pensioners, spending that money on food, housing, medical bills etc..benefits the younger ones, who takes up work in the many jobs here.

So, it is not a small pool of pioneers being supported by.....the money is already deducted from the salaries when they work, top up by their employers into the trustee accounts.

You argument is flawed..

 

[JohnTan]

But the pool of pioneers give birth to the pool of young workers, who should be supporting the old timers; for without them, they would not exist!... ha ha ha ha ha

Pension was an old system inherited from the British, the monies were usually deposited into the old colonial banks like Chartered Bank, later Standard Chartered Bank, Hong Kong & Shanghai Bank, later Hong Kong Bank; in Trustees accounts. Which many still exist for they are still many old foggers still around. There were the 'planters' & people men & women from the old era, who never got married settled here & some even died here. leave behind monies in Trustee Accounts.

Mind you the old pensioners, spending that money on food, housing, medical bills etc..benefits the younger ones, who takes up work in the many jobs here.

So, it is not a small pool of pioneers being supported by.....the money is already deducted from the salaries when they work, top up by their employers into the trustee accounts.

You argument is flawed..

Your reasoning is flawed. A worker works at a company for 30 years, and the company is supposed to take care of him for the next 30-40 years of his retirement provided he doesn't kick the bucket early? This only works if there is a small pool of limited pensioners. With each year, the number of pensioners go up while the number of workers at the company need not necessarily go up. A company cannot expand indefinitely.

Money deducted from workers' salaries, topped up by employers into trustee accounts? Voila! You just described CPF!

 

[halsey02]

Your reasoning is flawed. A worker works at a company for 30 years, and the company is supposed to take care of him for the next 30-40 years of his retirement provided he doesn't kick the bucket early? This only works if there is a small pool of limited pensioners. With each year, the number of pensioners go up while the number of workers at the company need not necessarily go up. A company cannot expand indefinitely.

Money deducted from workers' salaries, topped up by employers into trustee accounts? Voila! You just described CPF!

That is not CPF..CPF is a ponzi scheme....we are talking about TRUSTEE ACCOUNTS...in this case, the PAP should take out all their old pensioners & shoot....they will ease the burden for the people of Singapore...your logic.

 

[democracy my butt]

 

[eatshitndie]

should have asked for $69. it will cover kopi and kaya toast at least for 6.9 days a week.

 

[bobby]

To quote a very learned and clever minister..." you want to eat at hawker centre, food court or restaurant ? "

 

[JohnTan]

That is not CPF..CPF is a ponzi scheme....we are talking about TRUSTEE ACCOUNTS...in this case, the PAP should take out all their old pensioners & shoot....they will ease the burden for the people of Singapore...your logic.

CPF is not a ponzi. It's backed by the government and it has been meeting the retirement and housing needs of sinkies for decades. There's money in the bank and sinkies know it. No bank run for CPF all these years.

Sinkies who have been scoffing at CPF returns had ended up losing their shirts in ostrich farms, gold shares, land banking, MLM and other kinds of scams.