Therefore when I read about the no. of new grants and subsidies, especially for those for the elderly, I was at once happy and anxious. Take the silver hair downgrade scheme. They will only qualify if they
1.downgrade to a 3 room flat or smaller
2.top up their cpf minimum sum
3.convert CPF minimum sum into CPF Life
What if they sold first – being desperate for money, then wait to buy? When will the government grant come in?
My concern – elderly folks in need of money will sell off their property immediately. When they try to buy a 2 room flat – almost none available on the open market, or a 3 room flat, they may be horrified at the COV or the prices of these flats. If they then decide to apply for a BTO flat, where will they stay in the meantime? Must they top up the minimum sum right now? If not, whatever cash in hand may not last till their BTO application is successful, not to mention the wait for the building to be completed. If this scheme is only financially viable when they buy a BTO flat, what happens to their current money needs? First they will need a successful application, then the completion of flat. All in this process will take years.
Who will advise them? When should they be advised? Sending a pamphlet does not work. Some of these CPF pamphlets have left me scratching my head. Granted I am not too bright – but can we assume these elderly folks will fare better than me?
So many schemes, so many subsidies. I suspect many who are badly in need of them did not apply for them out of sheer ignorance or unawareness. Some may not be able to qualify some condition or other. Take the case of this student who wrote to Mr Brown. He gave several reasons why he did not take up a scholarship. One of the reasons is that he will be unable to furnish a suitably qualified guarantor. This seems like a very small matter to most, but to a student from a family with low income and no connections, this can be a hurdle.
So while it is good to give subsidies and grants, getting them to those who need them may need work. If too many fall through the cracks, then they are not cracks but big gaps.
- http://speakspokewritewrote.wordpre...grants-and-subsidies-singapore-sorely-needed/
1.downgrade to a 3 room flat or smaller
2.top up their cpf minimum sum
3.convert CPF minimum sum into CPF Life
What if they sold first – being desperate for money, then wait to buy? When will the government grant come in?
My concern – elderly folks in need of money will sell off their property immediately. When they try to buy a 2 room flat – almost none available on the open market, or a 3 room flat, they may be horrified at the COV or the prices of these flats. If they then decide to apply for a BTO flat, where will they stay in the meantime? Must they top up the minimum sum right now? If not, whatever cash in hand may not last till their BTO application is successful, not to mention the wait for the building to be completed. If this scheme is only financially viable when they buy a BTO flat, what happens to their current money needs? First they will need a successful application, then the completion of flat. All in this process will take years.
Who will advise them? When should they be advised? Sending a pamphlet does not work. Some of these CPF pamphlets have left me scratching my head. Granted I am not too bright – but can we assume these elderly folks will fare better than me?
So many schemes, so many subsidies. I suspect many who are badly in need of them did not apply for them out of sheer ignorance or unawareness. Some may not be able to qualify some condition or other. Take the case of this student who wrote to Mr Brown. He gave several reasons why he did not take up a scholarship. One of the reasons is that he will be unable to furnish a suitably qualified guarantor. This seems like a very small matter to most, but to a student from a family with low income and no connections, this can be a hurdle.
So while it is good to give subsidies and grants, getting them to those who need them may need work. If too many fall through the cracks, then they are not cracks but big gaps.
- http://speakspokewritewrote.wordpre...grants-and-subsidies-singapore-sorely-needed/
