Compulsory Eldersave - Another Scam to Siphon Singaporean's CPF Money

[sgnewsalte]

Khaw Boon Wan is now considering creating another compulsory account call "Eldersave" to siphon our CPF money from us. They keep creating new phoney problems, and start proposing new scams made compulsory to slowly deplete our CPF. This government will not let up until they take away all our retirement find.

http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_336170.html

Get set for 'silver tsunami' <!--10 min-->
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</td></tr> <tr></tr> <tr> <td class="padlrt8 georgia11 darkgrey bold" colspan="2">By Lee Hui Chieh </td></tr> <tr> <td><!-- show image if available -->
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<!-- START OF : div id="storytext"--> OVER the next decade, the Health Ministry will be increasing the number of community hospital beds by 60 per cent, and the number of nursing home beds by 50 per cent. It will also look at how to create an Eldersave, or compulsory savings for long-term care in old age.
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Preparing for Silver Tsunami
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These are part of the ministry's plans to prepare Singapore for the 'silver tsunami' - a host of health-care challenges brought on by a surge in the number of the elderly.
Health Minister Khaw Boon Wan said in Parliament on Monday that at least two new commmunity hospitals with 200 beds each will be built in the near future.

One of them will be built by 2013, next to the new Khoo Teck Puat Hospital in Yishun, which is slated to open next year.

The other will be built by 2016 next to the proposed Jurong General Hospital, which is expected to be ready in 2011.

Singapore has six community hospitals now, with a combined total of more than 800 beds.

This works out to a ratio of one community hospital bed to eight general hospital beds.

The target is to improve the ratio to one community hospital bed to five general hospital beds by 2020.

The number of beds in both privately- and charity-run nursing homes will be raised from the current 9,200 to 14,000.

Over the next two years, five new nursing homes will be set up.
On top of building facilities to care for Singaporeans in their old age, the Health Ministry is also studying how to help them build up savings to pay for such care. It is considering the creation of a new account under the Central Provident Fund, called Eldersave, or raising the contribution rates in the existing Medisave account.

It is now looking at the experience of other countries such as the United States, Britain, Germany and Japan, to work out the amount that will be needed for such long-term care.

 

[metalslug]

PAP greedy until mad already!!

 

[metalslug]

 

[DerekLeung]

PAP is running out of time and money !

Forces of knowledge will tide over them !

I told you they will come up with something to counter us !

And it's the expensive Cow Boon Wah !

 

[kiwibird7]

SIngaporeans have one of the highest savings rate in the world - aka CPF.

The only reason why it is NOT enough to pay for the essentials like housing, education, health and old age(retirement) is because of the exponential rise in COSTS of the same essentials have exploded beyond the stipulated low interests rates paid out by the CPF. The govt can keep increasing the age for retirement but if costs keep rising faster than salary increments and the CPF interests rates again, it would solve NOTHING.

All the costs parameters for housing, education and health, old age (food staples, electricity, water, conservancy charges) are within govt control. Any govt that cannot rein in the costs increases of all the above to below the interests rates of CPF or salary increments will result senior citizens not having enough $$$ to pay these for essentials.

All the gimmicky, edusave, medisave, eldersave and whatever save coined by the MIW (Misguided Invertebrate Wimps), it is still extracting money from the same CPF account. If costs rises faster than input (+ measly interests rates)- citizens simply won't have enough funds to pay.

 

[Lestat]

I actually think that the idea is a good one. Just that they have to revise the mechanics.

I mean, we are facing an aging population, and with a health security blanket, it will make our elder lives easier.

 

[Leegimeremover]

The CPF is a de facto, health insurance tax, pension tax and housing purchase tax. How much you get to use is dependent on how much you contribute to the tax. Government contributes very very very little. 2.5-4% interest means nothing. Remember, Singapore's population killing stop at 2 policy, with see the 1960s generation hitting theirs 60s in the next 15 years - you will see a lot of old people. If the stats are right from another forummer, we have 750K old folks now.

 

[newyorker88]

I have said many times, the idea is to make sure that you never see your CPF.

 

[funglung]

PAP greedy until mad already!!

taxpayers are paying more than millions...

where has our 400 billions gone?

No way any government or regime make that kind of money.

THAT 400 BILLIONS WERE MADE BY SINKIES, AND TAKEN FROM SINKIES BY STINKING LKY AND USED BY LKY TO PRETEND HE IS AN ECONOMIC GIANT WHEN HE IS IN FACT A FUCKING ECONOMIC DWARF.

THEN SINKIES ARE TOLD NOTHING FOR FREE WHEN LKY AND HIS PAP BASTARDS TOOK IN 400 BILLIONS TO PLAY WITH AND FRENCH COOKING COURSES ARE NOTHING AT ALL TO THEM

SINGKIES !

FIND YOUR BALLS AND KICK OUT LKY AND PAP BASTARDS.

THAT 400 BILLIONS ARE YOURS AND YOURS ALONE

NOT TEMASICK OR GEE I SEE TO FUCK ABOUT WITH

 

[tiulehloumoh]

Those 33.3% should not be utterly worried, as most of them are poor asshole. How much money they have in the CPF for them to suck....

 

[newyorker88]

The CPF is a de facto, health insurance tax, pension tax and housing purchase tax. How much you get to use is dependent on how much you contribute to the tax. Government contributes very very very little. 2.5-4% interest means nothing. Remember, Singapore's population killing stop at 2 policy, with see the 1960s generation hitting theirs 60s in the next 15 years - you will see a lot of old people. If the stats are right from another forummer, we have 750K old folks now.

At first, they want to ship the old folks to batam, or JB. Now, they want them to work until they die.

Never see your CPF, never retire, remember old BOXER from animal farm, when you die, they take your organs.

 

[eeoror88]

The CPF is a de facto, health insurance tax, pension tax and housing purchase tax. How much you get to use is dependent on how much you contribute to the tax. Government contributes very very very little. 2.5-4% interest means nothing. Remember, Singapore's population killing stop at 2 policy, with see the 1960s generation hitting theirs 60s in the next 15 years - you will see a lot of old people. If the stats are right from another forummer, we have 750K old folks now.

You do not need rocket science to deduce the reason as to why so many qualified and educated foreigners are "encouraged" to work and settle here as citizens and PRs.

The paramount reason is the extremely low birth rate and the increase in the number of aged Singaporeans coupled with the increase in the number of singles and divorcees here.

These younger foreigners will be replacement and will form a significant backbone to "support" and equalise the rapidly aging population here.

As it is, there are only 2.3 million citizens here and 750,000 of them are already senior citizens.