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SINGAPORE: Prime Minister Lee Hsien Loong said employers' contribution rates to the Central Provident Fund for older workers have to go up, but added that any increases will have to be gradual. Mr Lee revealed this at a pre-Budget dialogue with unionists last week. Currently, CPF contribution rates are cut when workers reach 50 years old, and cut further when they turn 65. The labour movement, NTUC, has been calling for this to be reviewed. This too, comes at a time when Singaporeans are being encouraged to work beyond their retirement. Mr Lee said the government is discussing the matter with unions and employers. But cost is a consideration. He noted for instance, that a larger proportion of older workers kept their jobs during the recession, because their CPF was lower, and so they were cheaper to retain. The government's concern here, is that once older workers lose their jobs, it's much harder for them to get back to work. Source :Increase CPF contribution to older workers I am not too sure about this proposal, with the readily available cheaper and better FT, will this scheme encourage company to retain older workers?

I really love this gov day by day. Their CPF restoration implementation is really spot on to win my heart in voting and having 101% confidence in this gov! When property is expensive, people maxed out the CPF to repayment. Some still need to top up. Many people complain and this gov does listen to our issues! If there is higher CPF contributions = more salary = more can buy bigger and more expensive properties using CPF. YEAH!

British humour A big earthquake with the strength of 8.1 on the Richter scale has hit Pakistan . Two million Pakistanis have died and over a million are injured. The country is totally ruined and the government doesn't know where to start with providing help to re-build. The rest of the world is in shock. The USA is sending troops to help. Saudi Arabia is sending oil. Latin American countries are sending supplies. New Zealand is sending sheep, cattle and food crops. The Asian continents are sending labor to assist in rebuilding infrastructure. Australia is sending medical teams and supplies. ; Britain , not to be outdone, is sending two million replacement Pakistanis. God Bless British generosity.