LEE HSIEN LOONG IS A FAIL INSURANCE AGENT

Last year he tried to sell “ko-yeok” to us as a property agent and this year he tried to sell as a “financial planner”.

In both attempts he failed dismally and never quite make it to the Honours List or the Million Dollar Round Table (MDRT).

But worse as the Prime Minister of the country Mr. Lee Hsien Loong should not treat his citizens as clients whom he can easily sway into buying products that they will regret later.

It is extremely disappointing to listen to his example of a Mr. and Mrs Tan and the financial plans he offered them for retirement. He did not do a proper fact-find which is a must for all financial planners. Neither did he do a risk appetite profile and all he did was to offer a one size fit all plan for the poor couple.

As Prime Minister of the country he should seriously address the problem of more than 50% of the CPF holders not being able to make it to the Minimum Sum.

He should also address the issue of the low rate of interest offered by CPF which is not even inflation indexed. So how to retire?

And as the Chairman of GIC and PM of the country he should at least have the guts to look into sharing the higher returns that the world’s 7th largest wealth fund makes with his fellow countrymen. After all it is their CPF money that the GIC is investing.

As PM of the country he should seize the bull by its horns and come out with real solutions but instead he became an insurance agent. What a disappointment and to think he is paid millions of dollars with tax payers money and yet never made it to the Million Dollar Round Table (MDRT).

Patrick Low

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