Set payout age for compulsory annuities at 80 but raise prem
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Set payout age for compulsory annuities at 80 but raise premiums: SM Goh
By Hoe Yeen Nie/Ting Kheng Siong, Channel NewsAsia | Posted: 21 October 2007 2144 hrs
http://www.channelnewsasia.com/stories/singaporelocalnews/view/306943/1/.html
Now wat??? -
They are relentless in their effort to tax Singaporeans more by any means. They must be preparing and thinking ahead how much more they need to take from the people to enable them to increase their million dollars salaries by even more millions.
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5 years difference got much difference?
Please, some nut tell them that to minus at least 15 off that number. 70 is more likely. Anything higher than 70, I won't even consider. -
more bull$hit
anything below 65 yrs old is unacceptable -
Your graph is dom ba lek one ar?Originally posted by Lin Yu:more bull$hit anything below 65 yrs old is unacceptable -
look what thay have found out. they should pay more attention to medical cost instead.
More S'poreans suffering from Age-related Macular Degeneration
By Jessica Yeo, Channel NewsAsia | Posted: 21 October 2007 0218 hrs
SINGAPORE : More Singaporeans are suffering from Age-related Macular Degeneration, which affects the vision, and many don't even know about it.
80-year-old Madam Goh Chiow Heng experiences blurred vision, blank spots and distorted images.
These are symptoms of Age-related Macular Degeneration, a chronic disease which affects the tissue near the eye responsible for central vision.
This can result in the loss of sight in that area, but the side vision usually remains intact.
"I can't see clearly; I can walk on my own but I have to be careful," said Madam Goh.
This disease usually affects people aged 55 and older and comes in two forms - the "dry" and a more severe "wet" type.
It tends to affect women more than men, and smokers are three to four times more likely to get the disease.
Age-elated Macular Degeneration is one of the major causes of visual loss in Singapore, but very few are aware of it.
A study by doctors at Alexandra Hospital shows only 7.3% of some 520 households surveyed know about of this disease.
In fact, they found that there were 154 unknown cases for every known case.
Like most patients, Madam Goh came to know of her condition late and by chance.
"She came for the screening in our department and was found to have wet Age-related Macular Degeneration. We have treated her since," said Dr Ajeet Wagle, Registrar, Department of Ophthalmology and Visual Sciences, Alexandra Hospital.
The disease can result in blindness and may also lead to depression.
Doctors are advising the public to test their eyesight and go for regular eye screenings. - CNA /ls -
How can any age be acceptable unless they are paying out the money from the relentless siphoning of money from Singaporeans instead of trying to grab some more with an eye on their own pay increase?
They said that the 2% GST increase was to help the poor and not to offset their losses to foreigners... well prove it, give the old folks an annuity instead of putting the GST increase into their own pockets and taxing the people more. -
Where got so much money to buy insurance liao after all the increases?!
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Hanor hanor..... mayi is so sharp!Originally posted by ndmmxiaomayi:Your graph is dom ba lek one ar? -
if i kong ka kiao before 85 or 80 years old, where will my $$ go to?
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poolOriginally posted by Phoebie:if i kong ka kiao before 85 or 80 years old, where will my $$ go to? -
Originally posted by Lin Yu:pool
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At the moment, we still do not know how high this extra premium is going to be and I wonder if the extra cost(less the cost of inflation) could be offset by the total actual monthly payout after adjusting the cost of inflation for the 5-year period from a person's 80th birthday to the last day of his 84th year of age. I seriously hope the government is not trying to fool the public this time.
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actually if they want to talk about avg age, then they should give thoughts to at least varying the payout age and premiums for male and females
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i don't even know if i can live beyond age 80 or 85
actually i'm pretty confuse as to how the annunity work
is it when payout age come, they will credit the premium back to our bank account?
if that's the case even if i live to get the premium i wonder whether am i still able to queue inside the bank to get $$ or able to use atm card -
With his own salary pegged in MILLIONS, it is easy for GCT to advocate a higher premium - which is probably 'PEANUTS' to him and his wife. -
Can someone present a view which holds ministerial salaries and the new annuities scheme as two completely separate things? Firstly, isn't it true that we face an aging population?
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it used to be true.Originally posted by Quincey:Firstly, isn't it true that we face an aging population?
but our workforce is now being replaced by many FTs -
Seriously, can any of this regime's word even be taken at face value? As a certain mantra goes, "lie, lie and lie somemore" and that certainly befits the fascists' agenda.
Think about it, should this rogue regime implement the suggestion they propose (indeed, it's so noble of them to propose such a generous scheme and even offer a further olive branch to "sweeten" the impact ), would they seriously not have considered doctoring the scam such that the increase in premium would actually more than offset the early differential payout (assuming it starts at 80 instead of 85), having accounted for inflation notwithstanding?
In other words, should they start paying out at 80, the overall premium you pay - even after accounting for your total payout received from 80 to 85 - could actually (and would in all probability) be higher than the total premium paid if they were to pay out at 85.
Even for those without a good sense of mathematical acumen, it still shouldn't be too hard to realise the impact to cushion the blow of having the stipends paid out earlier could actually be easily masked over by minor increments in your annuity premium paid over a prolonged period of an individual's working lifespan for most folks.
On the back of that (and this regime's shameless profiteering track record), think about the merits of actually receiving your stipends earlier. Is that still such an enticing prospect? After all, as a famous adage goes, if some things are too good to be true, they most probably are.
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Don't forget, people, that this is the same regime that says the increase in GST was to help the poor and they promptly raise their own million dollars salaries, and cut the corporate tax by 2%
Focus, people this is just another hidden tax in their arsenal of hidden taxes.
Unless it is paid for from the current exorbitant taxes they are taking, and better still, tell them to take a pay cut to fund the annuity or else, please tell them to take their arsenal of hidden taxes and shove it up their, well arssanal...
see: CPF Annuity - another hidden tax -
Obviously they are trying hard to shift the focus of the issue.
THE ISSUE is should the government FORCIBLY implement a COMPULSORY annuities scheme that locks up people's money until 80-85oruntilyoudie?
So mr sm goh, nice try but lets not sidetrack. -
think again, we are at fault partially...
because we are the people who put these people up there... -
such statement are only good to the sheep.Originally posted by AndrewPKYap:They are relentless in their effort to tax Singaporeans more by any means. They must be preparing and thinking ahead how much more they need to take from the people to enable them to increase their million dollars salaries by even more millions. -
Half-way meeting point between 65 and 85.
75?
ahem! What am I saying.
It is getting as if Singaporeans are blessed with immortality.
Anything above 65 should not be acceptable.
Annuity should be another name for pension.
Pension is for the old to relax.
Digression:
When I was 20+. I would help my friends move house. The elder uncles would drive the lorry, we youths would do the labouring and carry all heavy stuffs.
Now when I help my neighbour move house, he tells me, leave the carrying to the young ones, we just supervise, and see what needs to be done, and tell them to do it.
Thats the way it should be. pass the baton to the younger generation.
I want to get a Harley Davidson, and ride into the sunset.
I got my Class 2 only last year, now only the bike left.
I need the pension.