Well written counter comment on Annuity. SG

[Snookium]

It is actually found in ST Forum which i tot Pro-Annuity. It seem like all are against it.

http://www.straitstimes.com/ST%2BForum/Sto...ory_153046.html

 

Rethink proposal for compulsory annuity

ON THE proposed compulsory annuity, I would strongly urge the Government not to cross the fine line on CPF policy, so as to preserve Singaporeans' trust and faith.

 

Like most Singaporeans, I have always regarded CPF money as my retirement nest egg and even if I could not touch this hard-earned money locked up in CPF by the Government until age 67, the money is still rightfully mine and should be disbursed to my next-of-kin when I die.

 

But if the Government forces me to part with my money to buy an annuity which starts paying only at age 85 and the remaining money is not given back to my heir when I die, then I would view this as a very serious breach and abuse of my trust in the CPF system.

 

Please take into consideration the intense feelings we have against mandatory measures like a compulsory annuity scheme.

 

It is a double whammy: money is taken away from us without giving us a choice, and there is no refund to my family when I die.

 

I don't think people will accept this.

 

Dr Lim Boon Hee

 

Some of the comments:

Did $36 buy one a coffin lid in 1957?

Can $360 buy one a coffin lid in 2007?

Will the $3600 buy one a coffin lid in 2037?

 

Also can we ask:

 

Did $36 buy one 10 nights of hospital beds in 1957?

Can $360 buy one 10 nights of hospital beds in 2007?

Will the $3600 buy one 10 nights of hospital beds in 2037?

 

Govt officials reading, please tell this to the MM.

 

We don't want $3600 in cash 35 years later.

 

We want it in kind as cash $3600 is next to worthless 35 years later.

[Mzrmazda3]

Steady man

 

Finally, someone voiced it out in black & white

Edited August 31, 2007 by Mzrmazda3

[Apollo]

KNN... long time ago, it was the old fart tat say they neber touch CPF for their investment. everything intact, pple grow old at 55 can collect.

 

then they terak, now they do up sleeve.

 

soon they will charge interest on $$ kept in CPF

 

how to believe anything they say one. just like the promise to restore cpf cut.

[Fourwheels]

i sense that CPF may not be able to pay the money when we retires... thus, such scheme is in the thought of certain people.

[Kingcopa]

Well written but i dun think it will affect anything. The annuity law will be pass by the parliment.

 

When did gahment listen to us? It will never do so.

[Smiley]

the gahmen will say.... we hv listen to all the feedback and STILL believe that this plan will work and 99.9% of the parliment agreed.

[Dlar2]

As I had mentioned time and again.....

1. You can see it (the $ in your CPF account), but you cannot smell it, touch it, utilize it (because at age 55, you are still force to keep the minimum sum and now they want to force you to use part of it to buy annuality).

 

2. The CPF money is in your name only, but it is not yours. Don't believe, for the years to come, you shall see....more and more policy changes.

[Dowz]

eh, just wondering, this Lim Boon Hee, related to Lim Boon Heng?

[Verve]

" the gahmen will say.... we hv listen to all the feedback and STILL believe that this plan will work and 99.9% of the parliment agreed. "

 

then use the only feedback system that works - at the voting polls.

 

but as usual singaporeans no balls.

[Snookium]

Dun always criticize Gov no good.... maybe this time round not pass ler?

[Solar]

One way is to be a Quitter.. then take out everything that belong to u..provided its not cannibalised

[Smiley]

normally gahmen will throw out sweetener before and during the polls. so many people dun see it.

 

i hv the balls, but i dun hv the chance.

[Smiley]

want to bet? if then can openly say, it will likely be passed. any case where you see talk but not passed?

[Gilgamesh]

the gahmen will say.... we hv listen to all the feedback and STILL believe that this plan will work and 99.9% of the parliment agreed.

 

The 0.01% who do not agree are either being barked down, or threatened with defamation lawsuits, or awaiting to get "fixed". So bo bian just keep quiet and suck thumb in one corner......

[Smiley]

only 2 opp mp.... vote until die also cannot stop them.

[Snookium]

Annuities: It's risk-sharing among all

So why are Singaporeans unhappy: It's a matter of perception, lack of knowledge and discontent

 

Christopher Tan(Christopher Tan is the CEO of Providend, Singapore's sole fee-only independent private wealth and investment management firm.)

 

OVER the past week, .......................

http://www.todayonline.com/articles/208489.asp

[Beei]

Basically living in this country means paying taxes in different form..Income Tax, CPF, GST, COE, Road Tax, High Housing Loan and many many more..

and they are wondering why the suicide rate is going up..

 

with gahment sucking our blood everyday, how on earth are we able to live until 85..

[Baka]

I feel like slapping this Christopher Tan's CB mouth.

 

It is a regulation that anyone must go through a proper risk and profile analysis by the financial advisor/ insurance agent before buying an insurance product such as Annuity. This is to protect the public against unscrupulous sales ppl who are trying to make money by selling inappropriate products that do not match individuals' needs.

 

Now this govt is trying to break its own law by forcing people to buy financial products that may not be suitable for people in dire needs of cash upon retirement! That is robbing the people and betraying our trust! Why would I want to buy such a product when I have only a few thousand dollars of savings and is likely to die before age 80 (work too hard and got diseases like high blood pressure, diabetes, heart attacks, mild tumors, etc). Such people who are forced to buy this senseless products are like throwing $$$ down the drain, when it could have been useful to avail them immediately to let him enjoy the last few years of his life. Worked like donkey will I die and have to cough up blood to sponsor people who had it easy and expect to live and leech longer.

 

Millions of dollars are paid to smart alexes for such ideas, phuiii!!!