Wednesday, August 22, 2007

Initial thoughts on Compulsory Annuities

I dun intend to go into details. Instead I just want to look at the larger picture.

  1. The details are not well presented. Most layman and man on the street will be overwhelmed by the details, will tend to skip them and not understand the resulting implications.
  2. Sellers of annuities and insurance are doing what they do to make money.
  3. The gahmen is micro managing and tweaking the little things, giving itself more work to do in the process and more pay?.
  4. It is still our money being creatively manipulated, shaved off, and packaged and shoved back to us in nice sounding words.
  5. The gahmen is not coming out a single cent to help those above age 65 or 85.
  6. The gahmen is conducting more social engineering. It is more and more nanny state instead of less. Watever happened to vivian bala-kick-a-nun's "we are a mature society"?
Overall nothing has changed, the pie has not grown bigger but instead has diminished. They are making withdrawal of your own CPF money harder.

Going through so much trouble tweaking CPF, 1% more here, another % less there... it will be easier to just implement a pension scheme of $250 per month to take care of all Sgians above age 85, Sgians who have contributed in the nation building process and in their twilight yrs need subsistence or help. But no, to this gahmen giving a single cent from public funds is like shaving a pound of their own flesh! And guess what? While peasants struggle to understand the latest CPF changes, the ministers continue to receive pensions once after the age of 55 until they die!

CPF is no longer your savings. It has become a tool to extend the gahmen's hold on Sgians. National Slavery Service has never ended, it has simply taken another form.

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