Raising retirement age to prevent collapse of CPF system ?

[theDoors]

Jul 8, 2010
Raise retirement age to 70

http://www.straitstimes.com/print/BreakingNews/World/Story/STIStory_550886.html

BRUSSELS - EUROPEAN governments have been told bluntly to raise their retirement age, to prevent the collapse of their pension systems.

In a paper to be published on Wednesday, the European Commission says four workers' contributions to state pensions currently help support two retirees.

The growing number of older people would require the average retirement age to rise to 67 in 2040 and 70 by 2060 to maintain the current pension system, it says.

Lower birth rates and longer life expectancy mean that retiring earlier will not be sustainable.

Germany will raise the retirement age to 67 in 2029. Spain is considering a similar hike and Britain is discussing increasing it to 68.

But other countries are moving far more slowly. French President Nicolas Sarkozy is facing fierce opposition to his plans for people to retire at 62, instead of 60. Pension reform is a key part of reducing future costs and tackling mounting government debt burdens. -- AP
Copyright © 2007 Singapore Press Holdings.

 

[manokie]

Jul 8, 2010
Raise retirement age to 70

Clue to what will happen in Sinkieland in future.

You will work till you die cock standing

 

[theDoors]

Clue to what will happen in Sinkieland in future.

You will work till you die cock standing

More good years...

 

[Balls2U]

The CPF scheme is one big frigging CON JOB!!! :oIo: :oIo: :oIo:

 

[no_faith]

Clue to what will happen in Sinkieland in future.

You will work till you die cock standing

i tink will work until cock cannot stand.

 

[theDoors]

i tink will work until cock cannot stand.

Take OEM Viagra?

cheaper, better, faster

 

[ahleebabasingaporethief]

There is a BIG difference between pension schemes and CPF

CPF is OUR OWN MONEY.

Pension Schemes are govt money to help the old and elderly.

Depending on which website and forum, I have read that the SiPeeF is the BIGGEST PONZI SCHEME in the world.

Reading and believing is one thing.
BUT, the way they keep raising withdrawal age and restraining account holders to withdraw more money (minimum sum) AND conning with SiPeeF LIES scheme; I am now a believer.

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