In response to the govt call for ideas, here are 20 ideas. These are many ideas Singaporeans want to have implemented over time but the PAP due to its extreme right wing ideology has refused to implement any of them. But will the PAP be able to change? Come show us that it can overcome its own ideological barriers otherwise this whole national conversation will be just a national farce.
1. Get rid of ISA and ISD....Malaysia already done so. Replace the broad powers with anti-gang and anti-terrorist act. No democratic developed country under various security threats has ISA because it can be abused and causes fear among the populace.
2. Reduce defense spending to proper level. Singapore's defense spending to too high compared with neighboring countries. Various countries spend different amounts on defense ranging from zero to 6% of GDP. Singapore's defense is among the highest and very high relative to its neighbors. Experts estimate that the spending substantially lower is sufficient to protect Singapore. We have to make a proper trade-off between defense and the social needs of our citizens especially the elderly who have insufficient to retire and the sick who shoulder high cost of medical care.
3, Get rid of GRCs. This system has skewed the results of elections 40% vote against the PAP but is represented by 7% in the parliament. This system is worsen the problem of FPP (first past the post) election system vs an proportional representation system. A country can be strong and cohesive under proportional representation system because everyone's interest in properly represented such as in Israel. Skewing the representation in parliament is not inclusive.
4. Get rid of votes for upgrading priority scheme. It is undemocratic pork barrel politics.
5. Hard limit the number of foreigners now!!! Singaporeans already feel we have too many but businesses will always clamor for more. None of our competitors need to resort to the level of foreign influx to compete so why should we? It has gone well past the point that is good for ordinary Singaporeans.
6. Give more in scholarships to Singaporeans than to foreigners.
7. Implement minimum wage. Malaysia has done it so has Hong Kong. Hong Kong's study shows that while cost has risen for some businesses, this has been beneficial for workers and as a whole Hong Kongers welcome minimum wage. The PAP cannot be so right wing that it is more capitalistic than Hong Kong that existed in modern history as a colony not a nation.
8. Allow independent unions allow workers to form unions to protect their own rights. The main reason is with the union controlled by a PAP minister, we have undertaken a long journey of unbalanced policies than have undermined our workers especially low wage workers that need the most protection.
9. Adhere to UN Human Rights Declaration. Why is respecting human rights so difficult in Singapore? In the recent National Day speech, our PM claimed that the ungracious anti-FT of a small number of netizens is bad for Singapore's reputation. What about the PAP's human rights record? At the govt level refusing to adhere to UNHCR is bad for Singapore's reputation as the UNHCR establishes only basic protection for us as human beings - civilized developed countries go further than UNHCR.
10. Full transparency and accountability for GIC and Temasek. This is billions of tax payers money who is it so hard to let citizens know what is going on. Large part of it is our CPF money. This is what the citizens want and why are they denied. In many developed countries, the freedom of information act (FOIA) is established to give ordinary citizens full access information so long as it does not compromise national security. Why does the PAP govt want to operate in secrecy? How can there be greater trust when the PAP govt does not want to give citizens full access to information?
11. Implement universal healthcare scheme - preferably single payer system - so that every Singapore is well treated and no need to worry about medical financing. Every developed country now has it why not Singapore? Singaporeans shoulder the heaviest healthcare burden out of their pockets as a % of total expenditure compared with all developed countries.
12. Stop linking HDB price to market. It creates a vicious loop especially when the PAP govt insists on importing people in such large numbers. The upward pressure on public housing is enormous and high housing cost put Singaporeans into heavy debt.
13. Implement unemployment insurance to reduce worries of unemployment.
14. Supplement CPF so that elderly Singaporeans who contributed so much to Singapore can retire properly. The elderly were part of a generation that build Singapore to an economic power house. Many suffer today and do menial jobs because they earned low wages in the past and were unable to save when Singapore was a developing nation to help build Singapore. Seeing so many elderly workers doing menial back breaking work tells us there is a cold-heartedness and harshness that exists in our society yet in his National Day Rally, PM Lee spoke nothing about treating the old better but instead asked us to treat foreigners graciously - his can start by treating our old graciously. His attitude shows he value foreigners more than his own people even those who are now old and have contributed so much to the success of Singapore.
15. Reduce Income gap by reducing GST and increasing corporate and high income earners' tax. The relative share of wages in our GDP is low vs corporate profits - this is a result of pro-business policies pursued by the PAP. It is an fallacy to thing that an easy environment for big business equates to competitiveness. It does not and has not - it has breed constant demand for cheap labor and long term declining productivity.
16. Stop parachuting elites to state own enterprises. It is incestuous and result in conflict of interests. This is a perversion of meritocracy that has to stop. By deliberately allocating so much resources and opportunities to small group is not meritocratic but elitist in nature. It destroys the element of competition which is necessary to keep meritocracy healthy.
17. Stop the low wage, low productivity cycle by cutting employers from source of cheap foreign labor.
18. Revamp the transport system so that there is no compromise between quality of service and profits....get rid of Saw's legacy once and for all.
19. Get rid of all anti-democracy laws such as restoring our rights to protest, assemble and speak. We are now left further and further behind as more countries democratize and liberate its people.
20. Revamp our education system to "test less learn more". Stream less, less pressure, to create all round individuals with heart for our society. The system has it is puts to much emphasis on exams and does not cultivate a love for learning. The intense competition to get into various streams, secondary schools, results in unhealthy negative outcomes.
Tuesday, 28 August 2012
PM Lee's National Day Rally...
He tells us to speak up,
Have home, hope, heart.
Our voices they want to hear,
We should speak up without fear.
But we have not forgotten the tyranny,
How they took away our democracy,
They punished people for opposition,
Bankrupted and put in prison..
They still keep the ISD,
Say wrong words scully lim-kopi.
He scold us for being anti-FT,
Online voices spewing vociferious fury.
Why are you so bloody angry,
We should be open and friendly.
But how to be when jobs taken from me,
Make life so tough for my family.
Compete with me for opportunity,
Even pushed me in the MRT,
Life is certainly not getting easy,
Hard to pretend to be happy.
Some days I'm just downright grouchy,
Go online to let go of frustration,
Its not xenophobia but desperation.
I don't expect our leaders to understand,
In their ivory tower they stand,
They don't have to suffer indignity,
Our mortal fears and insecurity.
That drives us to act ungraciously,
Can't help but be anti-FT.
2 more universities,
will come too late for me.
But I cheer for our children,
This opportunity for further education.
Education is not just about jobs and earnings,
Educating is not the same as training.
It will help one find meaning in a life of passion.
Culture, experience and universal comprehension.
We shall not view this so narrowly,
To equate university to job opportunity.
We shall bring every child to the highest enlightment,
Every life towards the best fulfilment.
More talk on fertility rate,
Paternity leave spark debate.
Cause employers to favor FTs,
Without reservist duties.
HR benefits cannot be implemented
Companies don't want locals disrupted.
Project cannot deliver due to baby,
'Cause father to be absent from company.
PM's 3 no-worries is really terrifying,
Jobs, education and housing.
While a job is always available,
Wages can be so low it is miserable.
Workfare given to supplement,
In the end a lifetime of torment.
We need better wages to live comfortably,
First world minimum wage to raise family.
Housing he say is always available,
Govt shelters and flats on rental.
Expensive housing is a lifetime of trouble,
Debt slavery due to housing bubble.
Lose job debt I cannot service,
Banks chase me into crisis.
A house is not a home you see,
If you can't sleep in it soundly
So don't tell us it is no worry,
High stress is a S'porean reality..
Have home, hope, heart.
Our voices they want to hear,
We should speak up without fear.
But we have not forgotten the tyranny,
How they took away our democracy,
They punished people for opposition,
Bankrupted and put in prison..
They still keep the ISD,
Say wrong words scully lim-kopi.
He scold us for being anti-FT,
Online voices spewing vociferious fury.
Why are you so bloody angry,
We should be open and friendly.
But how to be when jobs taken from me,
Make life so tough for my family.
Compete with me for opportunity,
Even pushed me in the MRT,
Life is certainly not getting easy,
Hard to pretend to be happy.
Some days I'm just downright grouchy,
Go online to let go of frustration,
Its not xenophobia but desperation.
I don't expect our leaders to understand,
In their ivory tower they stand,
They don't have to suffer indignity,
Our mortal fears and insecurity.
That drives us to act ungraciously,
Can't help but be anti-FT.
2 more universities,
will come too late for me.
But I cheer for our children,
This opportunity for further education.
Education is not just about jobs and earnings,
Educating is not the same as training.
It will help one find meaning in a life of passion.
Culture, experience and universal comprehension.
We shall not view this so narrowly,
To equate university to job opportunity.
We shall bring every child to the highest enlightment,
Every life towards the best fulfilment.
More talk on fertility rate,
Paternity leave spark debate.
Cause employers to favor FTs,
Without reservist duties.
HR benefits cannot be implemented
Companies don't want locals disrupted.
Project cannot deliver due to baby,
'Cause father to be absent from company.
PM's 3 no-worries is really terrifying,
Jobs, education and housing.
While a job is always available,
Wages can be so low it is miserable.
Workfare given to supplement,
In the end a lifetime of torment.
We need better wages to live comfortably,
First world minimum wage to raise family.
Housing he say is always available,
Govt shelters and flats on rental.
Expensive housing is a lifetime of trouble,
Debt slavery due to housing bubble.
Lose job debt I cannot service,
Banks chase me into crisis.
A house is not a home you see,
If you can't sleep in it soundly
So don't tell us it is no worry,
High stress is a S'porean reality..
Saturday, 25 August 2012
Something happened to me at a coffeeshop 3 weeks ago....
There is a coffeeshop I go to most days for lunch.
3 weeks ago, I noticed 2 men drinking and chatting at the coffeeshop. The each hold a Blackberry and are always typing text on it. Rather odd as these 2 man dress like HDB uncles using Blackberries. Occasionally, one of the 2 men, the older one would get so drunk, he would slough on the chair high from alcohol. Then the younger man will take over his Blackberry to text.
One day while heading for the toilet, the older man and myself bump into each other. The man pushed me and starting hurling vulgarities loudly at me. I could smell the alcohol in his breath so I thought to myself better keep quiet and not provoke him anymore. The younger man rushed over and said, "Sorry hor, he a bit drunk".
2 days later, I was at the same coffeeshop and saw the same 2 men. This time both of them were sober. The older man watched me for about 20 minutes. I tried not to look back as I suspected he might still be fuming over the incident 2 days ago. I tell you it was a long uneasy 20 minutes....I tried to concentrated on eating my chicken rice quickly so that I could get up and go. All of a sudden, I saw the old man stand up and walk towards me. I told myself "opps...gone case". The guy had tatoos all over. I was thinking of running but my legs weakened a little.
The man sat down at my table. Now my heart racing a bit. Then he said, "The other day shouted at you...sorry hor". He then asked me what I do for a living since he had been seeing me at the coffeeshop. I told him I had not been working for quite some time. He then asked me, "So you need money?". I was thinking maybe he is loan shark or something. Since he was speaking to me quite nicely, I joked a bit, "Need money. Of course need money lah, I have mother to support hor. But don't try to lend me money lah, I don't borrow one".
He then said, "I have job for you. You want?". "Can make $50-$100 a day, only spend less than 2-3 hours. You wan?", he asked. I told him that I was not sure because I didn't know what the job was about. He then described what he wanted me to do. Every morning, I would have to go to a list of 3 to 4 apartment addresses to collect money stated next to the address. I interjected "no, I'm not going to be loanshark runner". He said, "Stupid. Shut up and listen first". I would have to go to these apartments knock on the door, at each apartment a woman would open the door and give me an envelop full of money. I can go in to count it. Once verified correct, I would go to an ATM and deposit the money using one of 5 Maybank account he would give me then keep the receipt as proof that I had collected and deposited the money. He said it was money from some kind of rental scheme for foreign workers and paid everyday roughly $2-$3K at each apartment. If I'm willing to also to buy and deliver food to those apartments he can give me additional $20 over the cost of the food so I can make total $70 per day for collecting money and delivering food. He asked me, "How? You want the job?". I was thinking the whole scheme looked very mysterious but nothing illegal....not too sure. I told him I needed time to think and lied that I had another job offer pay me $3K for full time job. He told me to get back to him within 2 days for "can forget it".
I went back to think about the "job" for a while. The part that I couldn't understand is why I needed to buy and deliver food for women in the apartment. Why couldn't they buy food for themselves. Another thing is why can't he collect the rent himself...why must it be done everyday...never heard of people paying rent everyday. Anyway, I still don't need money badly yet and without a car going to these places not so convenient. Without full understanding of what was going on, I thought best to give it a miss. A few days later after the job offer, I noticed the 2 men were no longer around....I couldn't even turn down the job personally. I asked another drinker if he saw the 2 men. He told me they were both arrested by police right at the favorite spot where they were using often seen using their Blackberries. I asked the drinker if he knew why they were arrested....he replied he also dunno, all he knew was they were jolly good fellas who didn't have to work.
I think they were most probably habouring illegal workers luckily I didn't get involved otherwise will be in Changi chalet for a few years.
3 weeks ago, I noticed 2 men drinking and chatting at the coffeeshop. The each hold a Blackberry and are always typing text on it. Rather odd as these 2 man dress like HDB uncles using Blackberries. Occasionally, one of the 2 men, the older one would get so drunk, he would slough on the chair high from alcohol. Then the younger man will take over his Blackberry to text.
One day while heading for the toilet, the older man and myself bump into each other. The man pushed me and starting hurling vulgarities loudly at me. I could smell the alcohol in his breath so I thought to myself better keep quiet and not provoke him anymore. The younger man rushed over and said, "Sorry hor, he a bit drunk".
2 days later, I was at the same coffeeshop and saw the same 2 men. This time both of them were sober. The older man watched me for about 20 minutes. I tried not to look back as I suspected he might still be fuming over the incident 2 days ago. I tell you it was a long uneasy 20 minutes....I tried to concentrated on eating my chicken rice quickly so that I could get up and go. All of a sudden, I saw the old man stand up and walk towards me. I told myself "opps...gone case". The guy had tatoos all over. I was thinking of running but my legs weakened a little.
The man sat down at my table. Now my heart racing a bit. Then he said, "The other day shouted at you...sorry hor". He then asked me what I do for a living since he had been seeing me at the coffeeshop. I told him I had not been working for quite some time. He then asked me, "So you need money?". I was thinking maybe he is loan shark or something. Since he was speaking to me quite nicely, I joked a bit, "Need money. Of course need money lah, I have mother to support hor. But don't try to lend me money lah, I don't borrow one".
He then said, "I have job for you. You want?". "Can make $50-$100 a day, only spend less than 2-3 hours. You wan?", he asked. I told him that I was not sure because I didn't know what the job was about. He then described what he wanted me to do. Every morning, I would have to go to a list of 3 to 4 apartment addresses to collect money stated next to the address. I interjected "no, I'm not going to be loanshark runner". He said, "Stupid. Shut up and listen first". I would have to go to these apartments knock on the door, at each apartment a woman would open the door and give me an envelop full of money. I can go in to count it. Once verified correct, I would go to an ATM and deposit the money using one of 5 Maybank account he would give me then keep the receipt as proof that I had collected and deposited the money. He said it was money from some kind of rental scheme for foreign workers and paid everyday roughly $2-$3K at each apartment. If I'm willing to also to buy and deliver food to those apartments he can give me additional $20 over the cost of the food so I can make total $70 per day for collecting money and delivering food. He asked me, "How? You want the job?". I was thinking the whole scheme looked very mysterious but nothing illegal....not too sure. I told him I needed time to think and lied that I had another job offer pay me $3K for full time job. He told me to get back to him within 2 days for "can forget it".
I went back to think about the "job" for a while. The part that I couldn't understand is why I needed to buy and deliver food for women in the apartment. Why couldn't they buy food for themselves. Another thing is why can't he collect the rent himself...why must it be done everyday...never heard of people paying rent everyday. Anyway, I still don't need money badly yet and without a car going to these places not so convenient. Without full understanding of what was going on, I thought best to give it a miss. A few days later after the job offer, I noticed the 2 men were no longer around....I couldn't even turn down the job personally. I asked another drinker if he saw the 2 men. He told me they were both arrested by police right at the favorite spot where they were using often seen using their Blackberries. I asked the drinker if he knew why they were arrested....he replied he also dunno, all he knew was they were jolly good fellas who didn't have to work.
I think they were most probably habouring illegal workers luckily I didn't get involved otherwise will be in Changi chalet for a few years.
Thursday, 23 August 2012
Fertility rate : Its the QUALITY not QUANTITY....
The PAP wants us to up our fertility rate to increase the QUANTITY of people.
But what matters is the QUALITY of life. If we have QUALITY, quantity does not matter. But if our quality of life is poor, then there will be no QUANTITY anyway.
My suggestion to the PAP is try to catch up with Malaysia in terms of quality of life:
1. The amount of debt to own a home in Singapore relative to income is more than double (almost triple) that of a median income Malaysian. Malaysians face less financial burden. We are also comparing landed property vs apartments in Singapore.
2. More than 80% of Malaysians can own a car to drive their families around compared with 30% of Singaporeans hard limited by COE quotas. Imagine pushing strollers and bring toddlers up crowded buses. If more families have cars, then life is much better. Cars in Singapore are 5-10 times more expensive than in Malaysia. Petrol & taxes not included in computation. Having better transport for families is important and in Malaysia it is much better.
3. Make medical care more affordable. Medical care in Singapore is 6-8 times that in Malaysia and for elderly we are infinitely more expensive because elderly see doctor for free in Malaysia. Also, many of our medical staff are from Phillipines and even doctors from China so our medical care is staffed by 3rd world train manpower.
4. Make retirement possible in Singapore for majority. Most of my relatives in Malaysia stop work at 60+ some even 55yrs stop but in Singapore work until 70+ also have.
5. Less stress less working hours, more balanced lifestyle. Singaporeans work much longer hours and in more stressful work environment. There is also heated competition from foreigners to add to the stress. If the work environment can improve, it will also help the situation.
If we can match the quality of life in Malaysia, we may be able to push up our fertility rate. In Malaysia the fertility rate is more than double that of Singapore because people have more time for the families, less debt burden, bigger homes, better transport and access to cheaper medical care.The gap between Singapore and Malaysia is very big in terms of quality of life...hopefully Singapore govt can help us to catch up with Malaysia.
But what matters is the QUALITY of life. If we have QUALITY, quantity does not matter. But if our quality of life is poor, then there will be no QUANTITY anyway.
My suggestion to the PAP is try to catch up with Malaysia in terms of quality of life:
1. The amount of debt to own a home in Singapore relative to income is more than double (almost triple) that of a median income Malaysian. Malaysians face less financial burden. We are also comparing landed property vs apartments in Singapore.
2. More than 80% of Malaysians can own a car to drive their families around compared with 30% of Singaporeans hard limited by COE quotas. Imagine pushing strollers and bring toddlers up crowded buses. If more families have cars, then life is much better. Cars in Singapore are 5-10 times more expensive than in Malaysia. Petrol & taxes not included in computation. Having better transport for families is important and in Malaysia it is much better.
3. Make medical care more affordable. Medical care in Singapore is 6-8 times that in Malaysia and for elderly we are infinitely more expensive because elderly see doctor for free in Malaysia. Also, many of our medical staff are from Phillipines and even doctors from China so our medical care is staffed by 3rd world train manpower.
4. Make retirement possible in Singapore for majority. Most of my relatives in Malaysia stop work at 60+ some even 55yrs stop but in Singapore work until 70+ also have.
5. Less stress less working hours, more balanced lifestyle. Singaporeans work much longer hours and in more stressful work environment. There is also heated competition from foreigners to add to the stress. If the work environment can improve, it will also help the situation.
If we can match the quality of life in Malaysia, we may be able to push up our fertility rate. In Malaysia the fertility rate is more than double that of Singapore because people have more time for the families, less debt burden, bigger homes, better transport and access to cheaper medical care.The gap between Singapore and Malaysia is very big in terms of quality of life...hopefully Singapore govt can help us to catch up with Malaysia.
Wednesday, 22 August 2012
National Day Rally 2012 Expectations...
National Day Rally,
PM will speak frankly.
Need higher fertility,
To save this country.
PAP gives more incentives,
Make more babies please...
But Singaporeans think like this,
Why bring one more to their service
Feed our children to this Singapore Inc,
Another life of slavish working.
Make our current lives better then see,
Solve our problems we'll have bigger family.
Stop the endless foreign influx,
Bigger better housing for a start.
Medicare, retirement, safety nets,
Job security we expect...
Otherwise don't waste your time,
Your rally not worth a dime.
PM will speak frankly.
Need higher fertility,
To save this country.
PAP gives more incentives,
Make more babies please...
But Singaporeans think like this,
Why bring one more to their service
Feed our children to this Singapore Inc,
Another life of slavish working.
Make our current lives better then see,
Solve our problems we'll have bigger family.
Stop the endless foreign influx,
Bigger better housing for a start.
Medicare, retirement, safety nets,
Job security we expect...
Otherwise don't waste your time,
Your rally not worth a dime.
Minister K Shanmugam's racist complainant
Here is Shanmugam expressing shock that one of resident complaining to him in an email is making racist remarks at another neighbor of a differnt race:
Mr Shanmugam wrote: “He then listed other Indians whom he found unpleasant - the Indian man smoking in the lift, the Indian woman with her dog, and his daughter’s Indian neighbour who walks around in a sarong, and said that he didn’t want his grandson growing up looking at Indian men in sarong.”
If I say I have an Chinese neighbor stinks does not bath every day and is untidy...likes to take of his shirt and show his bare-body or goes around in singlet...I hate another Chinese feller smoking at the stairwell all day. Then there is another Chinese feller who walks his dog everywhere and the dog pees here and there. Because I'm also Chinese, I'm not racist....but if I'm a non-Chinese, my complaints becomes racist.
Looks like the racist accusation in itself is racist!!!! There is a presumption of racism simply because a person of one race complains about a person/people of another race....if both are same race and the complaints are exactly the same, the complainant is not racist. The writer did not say all people of such a race have such a behavior but that specific behavior of people of certain people who happen to be of the same race around his neighborhood.
I would like to ask the Shanmuggum to wake up his idea....opps am I now a racist because I'm speaking against an Indian minister...sorry I didn't even notice his race just his lack of logic !
Mr Shanmugam wrote: “He then listed other Indians whom he found unpleasant - the Indian man smoking in the lift, the Indian woman with her dog, and his daughter’s Indian neighbour who walks around in a sarong, and said that he didn’t want his grandson growing up looking at Indian men in sarong.”
If I say I have an Chinese neighbor stinks does not bath every day and is untidy...likes to take of his shirt and show his bare-body or goes around in singlet...I hate another Chinese feller smoking at the stairwell all day. Then there is another Chinese feller who walks his dog everywhere and the dog pees here and there. Because I'm also Chinese, I'm not racist....but if I'm a non-Chinese, my complaints becomes racist.
Looks like the racist accusation in itself is racist!!!! There is a presumption of racism simply because a person of one race complains about a person/people of another race....if both are same race and the complaints are exactly the same, the complainant is not racist. The writer did not say all people of such a race have such a behavior but that specific behavior of people of certain people who happen to be of the same race around his neighborhood.
I would like to ask the Shanmuggum to wake up his idea....opps am I now a racist because I'm speaking against an Indian minister...sorry I didn't even notice his race just his lack of logic !
CPF Good or Bad Scheme?
The Japan Times
Singapore's paternalistic government is unappealing to many Americans — media restrictions, one-party rule, harsh penalties for gum-chewing. But Singapore's retirement system is a model of honesty and transparency compared with U.S. Medicare and Social Security. In 1984, then-Prime Minister Lee Kuan Yew redesigned his country's retirement system to, as he later wrote, "avoid placing the burden of the present generation's welfare costs onto the next generation." Singapore makes no promises but instead requires all citizens to save up to 36 percent of their income for their own retirement and health care. The government invests the savings in stocks and bonds; the money is not used for current expenditures. The result? Singaporeans have comfortable retirements. Their health care system delivers better outcomes while costing 80 percent less than America's, according to 2010 findings from the World Health Organization, and all of it is financed without imposing debt on the next generation. Singapore even reported an uptick in medical tourism last year.
source : http://www.japantimes.co.jp/text/eo20120821a1.html
Because some countries face funding issues with their pension schemes, they tend to see our system in which the full retirement responsibility rests on individuals with a favourable bias. However, they forget that their own schemes have been such as the US Social Security (started by Roosevelt in 1930s) has been in place longer than the existence of Singapore! Because they face funding issues in recent times and have to overcome them, they look to Singapore believing that we have a more sustainable and better system in place. This is a fallacy!!!!!!!
The CPF system under the current rules is in place for only 30-40 yrs. People place fully under this system started to retire in larger numbers only 10ys ago...that is when we start to see the emergence of working eldrly who can't retire. More than 50% of CPF members will not have enough minimum sum and are likely going to be forced to work without retirement or have a poor quality of retirement. Under the CPF scheme sibgapore will have the biggest proportion of "unable to retire people" among all developed countries....this is why so many of our elderly have to work. This is a failing scheme...the onky thing good is it keep taxes very low for the rich but it is extremely painful for the poor. The PAP created the most unequal economic system among developed countries then force the poor to save for their retirement...this is a bad system..
A retirement scheme that only has one good attribute that it does not burden the govt finances and keep taxes low but does not ensure that everyone can retire comfortably can't be good. It extends the harmful effects of our super high income inequality to the retirement phase of one's life has a divisive effect on our society. We cannot be so arrogant to believe this scheme is good and sustainable when it is around for only a few decades and the people under this scheme is only beginning to retire in large nunbers. We are in fact observing the signs of failure of this scheme as a growing number of Singaporeans are working into old age unable to retire at the same age as people in other countries. How can a retirement scheme be good when it does not ensure people can retire?!
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