Tag Archives: retirement

SPP: Singaporeans need alternative retirement schemes other than CPF

"Raising the CPF minimum sum is not the only way - it makes retirement tougher," it said in a statement on Saturday. "Many Singaporeans are also deeply unhappy about the compulsory annuity CPF scheme. We need alternative retirement schemes to build an inclusive society." The country, it added, needs a complex mix of policies, such as alternative investment options to ensure a sufficient pool of funds in CPF.

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Sensible proposals to revamp flawed CPF system

There is a lot of talk about CPF and how it might be a PAP con to keep Singaporeans' money forever. CPF is a tricky issue, and I'd like to talk about the issue and propose partial solutions to problems Singaporeans face in as simple and non-inflammatory a way as possible. On one hand, it is in the public interest for everyone to have enough retirement funds. Yet it also is in the public interest that everyone gets to use the funds when they are in need, especially today.

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Can Singaporeans survive after retirement?

SOME 70 per cent of the 50 workers aged above 55 interviewed by The Straits Times indicated they wanted to work beyond 65, even with salary cuts (“Less pay is okay, say older workers”; last Saturday). The crux of the issue is not whether Singaporeans are willing to work beyond 65, but whether they are able to retire at all. The Central Provident Fund Minimum Sum Scheme was introduced in 1987 to help Singaporeans set aside sufficient savings to support a basic standard of living during retirement.

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Govt supportive of beyond 65 re-employment but at depressed wages

Extending the re-employment age to beyond 65 years is something the Government fully supports and is working towards, said Prime Minister Lee Hsien Loong, while he reminded older workers they have to temper their expectations on wages as they age. Rather than expecting to keep the same job and pay when they are older, workers should be prepared to look at work they are suitable for and that pays them reasonably, given that they could be less able, physically, to cope with certain duties, he noted.

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RYAN GOH: SOME THOUGHTS ON SAVINGS & RETIREMENT

Now, this will sound like a stretch to many but a million dollars 37 years from today is not a big deal. In fact, a million dollars today is even less of a deal than 37 years ago. This, in basic economics, is the difference between nominal and real variables. Nominal refers to the dollar amount while real refers to the amount that your dollars can buy. For example, if a cup of kopi (local coffee) costs $0.50 twenty years ago but costs $1.00 today, we can say that there is a change in nominal value but essentially no change in real value.

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S’pore no longer one of best 30 places for retirees

Singapore's attractiveness as a retirement venue has waned, slipping out of the top 30 best destinations for retirees in a new study. Key factors dragging down the Republic's allure to the grey brigade included environmental factors such as the haze and income inequality. The 2014 Global Retirement Index compiled by financial firm Natixis Global Asset Management placed Singapore in the 41st spot among 150 countries surveyed, down from last year's 28th. Singapore managed an overall score of only 65 per cent, below last year's result of 72 per cent in the index. It looks at four aspects of retirement: finance, health, quality of life and material well-being.

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S’pore no longer one of best 30 places for retirees

Singapore's attractiveness as a retirement venue has waned, slipping out of the top 30 best destinations for retirees in a new study. Key factors dragging down the Republic's allure to the grey brigade included environmental factors such as the haze and income inequality. The 2014 Global Retirement Index compiled by financial firm Natixis Global Asset Management placed Singapore in the 41st spot among 150 countries surveyed, down from last year's 28th. Singapore managed an overall score of only 65 per cent, below last year's result of 72 per cent in the index. It looks at four aspects of retirement: finance, health, quality of life and material well-being.

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