GMS : PM Lee is a TOTAL Failure

[Sammyboy RSS Feed]

An honorable member of the Coffee Shop Has Just Posted the Following:

This is where PM Lee has failed badly. He thought he could hoodwink us with such small cosmetic surgery by allowing us to request (approval is not guaranteed!!!) to withdraw part of our CPF money at 65 years old and putting up some measures for us to reverse-mortgage or sell off our flats to solve the problems created by them, in terms of inadequate CPF for retirement financing. What PM Lee should do is to address these fundamental problems that are creating a huge gap in the adequacy of our CPF which is meant for our retirement financing. It is totally a joke for a country which has a mandatory contribution rate of 36% of our gross salary but in the end, we ended up with insufficient funds to finance our retirement but most of us will be forced to sell our flats for retirement!

But I guess Singaporeans are not that stupid at all. The fundamental question we want to ask is that, will PAP take up the responsibility of providing for those who can't have enough money for their retirement? This is especially a REAL problem for many Singaporeans because apart from the above 3 main problems created by PAP, its ultra-liberal FT policy has basically depressed Singaporeans' wages over these two decades and worse of all, displaced quite a number of Singaporeans from their proper jobs. Many professionals or PMETs were forced out by cheaper Foreign labour and have no choice, to become Taxi Drivers! This will add to the difficulties for these Singaporeans to have enough savings in their CPF to cater to their retirement needs.

All in all....http://singaporealternatives.blogspo...l-failure.html


Click here to view the whole thread at www.sammyboy.com.