MPs offer ideas to improve CPF

[greengiraffe]

http://www.businesstimes.com.sg/premium/...w-20140606

PUBLISHED JUNE 06, 2014
Pension reforms gather pace as demands grow

Retirement schemes in Asia, Europe, US undergoing changes or reviews
BYJAMIE LEE
leejamie@sph.com.sg @JamieLeeBT

Planning ahead: There are now calls to ensure that Singapore's annuity scheme - known as CPF Life - accounts for inflation. - FILE PHOTO
[SINGAPORE] The search for retirement adequacy is a global one - the raging debate over Singapore's Central Provident Fund (CPF) system comes amid recent reviews of pension systems by countries around the world that underscore themes of risk and return, personal responsibility, and macroeconomic prudence.
In Asia, Europe and the US, pension systems have been put in focus.
Japan this week completed a review of its public pension fund - the world's largest - and is expected to boost returns by raising the risk taken by its nearly 130 trillion yen (S$1.59 trillion) pension fund.
Its targeted return will be lifted to 1.7 percentage points over long-term nominal wage increases, from 1.6 percentage points, media reports say.

[sgd]

Well after 5 years as co-driver at least may be can tell Singaporeans more about the car if not about the main driver. Like how you are going to improve the servicing of the car? Never mind about what the main driver may have it's own servicing car schedule. What's yours(WP), we like to hear? Can not be we still want to be co-driver only. If that is the case, many other parties are waiting in the wing. If that is the case, please make way for other parties. May be other party can be a better co-driver. It is really not a too difficult job in parliament for any other minority party to do the same.

I fear if opposition try to come in now it will only split the "opposition vote" then every election we end up in square one again no win no lose, my ultimate wish is for 1/3 parliament under opposition hands other parties are of course welcome to come in then our interests are properly represented and everything that they want to pass will be rigorously inspected debated and negotiated over not like now everything just push thru, white paper, cpf changes, internet law nothing and nobody to stand in the way.

In picking a fight with a bigger opponent you must play strategy if you go head on you just going to slam into their wall and waste your effort I'm sure WP have their views but what's the point it's going to voted down anyway.

Is just like you have a small fishing boat how do you compete with the giant trawlers who are out there vacuuming everything with their giant nets? Wait lor, wait for opportunity wait for monsoon season the perfect storm comes it's dangerous to go out and the big boys are in the harbor and you have the whole sea to yourself.

Patience comes to those who wait 2016 coming.

[kagemusha]

I would also want to see more opposition in the parliament, but unfortunately, being a realist, I don't think I will see 1/3 representation anytime soon. The WP stands the best chance but even they are in their infancy. They will have their growing pains. I think the best way to grow would be to model after the British to have a shadow ministry. For every ministry, there is a shadow to counter proposal and improve on the proposal if necessary. Then I think that is when people can see that the alternative is there. Else, like now, when a initiative is put up, the opposition stays silent....

[sgd]

1/3 will definitely take time probably maybe another 3 or 4 more elections by then many years and many of us are "senior citizen" already.

if we have that 1/3 and an initiative comes up however unpopular goes thru then so be it I will accept it because I know it has gone thru a rigorous screening process and it's the best deal crafted out for our people unlike now how do I know changes to cpf is good for me? or Internet law is good for us or bring in more FT here is good for us.

[chialc88]

kagemusha,
I am afraid that if 33.3333% of seats go to opposition, SGP will not be a SGP today.

Our minister (current) will be voted out and I am not sure which ministry Mr Low will choose to lead.
Would you mind do me a favour?
Help me to imagine/suggest some ministry Mr Low don't mind leading?

I see PAP Government shaking with fear after last election.
I see WP opposition leader equally shaken immediately after last election.
I definitely see big funds are moving their assets.

With 33.3333% parliament seats by opposition, who in SGP will believed that it's business as usual.

For one, LHL will not be focusing in SGP, instead he will have to spend a big portion of his time handling oppositions party politics instead of rolling out policies.

I do understand that currently SGP has many many things that need to improve.
But booting out PAP does not seems to be a solutions.


Love Compassion


yesterday enemy has become tomorrow friend

[CY09]

Back to the topic on cpf returns, it is very curious if the govt will give higher returns. Evidently, the money invested in gic has been yielding 6.5% per annum over the past 20 years. Raising the returns for selected cpf accounts is entirely possible under the current cpf system.

Personally I have written in to the straits time and mom about this, but no reply has been given or my letter to the editorial was published

[chialc88]

Raising the returns for selected cpf accounts is entirely possible under the current cpf system.

what do you mean?
Can elaborate a little bit on which/what "selected" ac?

Let me see whether I can benefits B4 casting my vote.

LC



yesterday enemy has become tomorrow friend

[corydorus]

In a democratic system, there needs to be check and balances. Time has to be spend to counter opposition arguments. This is absolutely necessary. To say we pay Million dollars for top talent ministers that cannot well managed this time, i may have to think is our money worth the investment.

Being a partisan, LHL will argue his time will be taken away. Being a voter, we need to think critically that such argument make sense or not.

[specuvestor]

Back to the topic on cpf returns, it is very curious if the govt will give higher returns. Evidently, the money invested in gic has been yielding 6.5% per annum over the past 20 years. Raising the returns for selected cpf accounts is entirely possible under the current cpf system.

Like I said, as long as people willing to take negative returns in a year or 2 to get 6.5% over 20 years. No such thing as "Ai-Pi Ai-Qi" Frankly I don't think anyone except the LKY generation would dare say that to the electorate. The current system is structured with a bond layer in between ie SSGS to provide constant payouts.

[chialc88]

Time has to be spend to counter opposition arguments. This is absolutely necessary.

agrees 100%.

sadly, at this moment, Mr Low really really need to pull up his socks to make his opposition arguments. (with or without Statistic department working for him.)

LC



yesterday enemy has become tomorrow friend