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Thread: Singapore wants older workers to continue working

  1. #101
    Senior Member Sion's Avatar
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by deckard View Post


    you funny guy. yes I understand vast majority will live to withdraw the CPF. but by the time they do that, they may be too old to enjoy the money.. if you know what I mean. some activities with money require physical capacity.

    some dreams require that the old guy can do physical stuff. For example. Like I said, lets say, there is this guy who have planned to have a round the world trip. he have worked out the budget. it requires quite a sum of money, need to take the CPF money and then some. yes after the big journey he will have very little money left. just enough to write a book, work in Mac til he bonks out. surely he can't do this now? by the time he can get enough money out now. he will be lucky to even able to walk by himself let alone travel the world. just an example.

    like I said, some people don't live with your normal confucious values system. their "retirement" is actually their second life. you understand? they need the money for their second life to do what they really want to do before they bonks out. and that second life requires quite a sum of money.
    When I read your post you said, "some activities with money require physical capacity." Then you mentioned "Bonk" twice.

    We've got what you mean. A person needs to do this sort of activity much earlier not at the late stage of 67. All this CPF money put aside for it will be wasted.

  2. #102

    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by ghost77 View Post
    How much do you think is enough for the retirement? No expensive taste and just a simple life.
    if you would like a reasonably comfortable lifestyle, you would need 2.8 million

  3. #103

    Smile Re: Singapore wants older workers to continue working

    i thought that when one gives up our citizenship, then, full cpf withdrawal.

    Quote Originally Posted by Sion View Post
    CPF allows full withdrawal if migrate to other country.

    I guess we have to look at Vietnam, Laos or Cambodia etc

    Many young beauties there don't mind looking after a wealthy old man.

  4. #104

    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by dkw View Post
    First you say that the number of people who will act irresponsibly with their money is "1:10,000". The you offer up in the above post, that the government should give up retirement funds so that the elderly can "enjoy themselves", live a "second life". What many people fail to accept is that they are living to a nice old age. Living a blistering "second life" that requires "quite a sum of money" will leave you a pauper when you are really old, and with no means to work. Get it? That is precisely why the CPF withdrawal is being raised, for exactly those reasons you cited, people who are just waiting to get their hands on the money to splurge. It is NOT splurging money, it is money to keep you in decent shape till you perish. If you want splurging money, make sure you earn it sufficiently before you retire.
    got meh?

    I say again since I left work now.

    keep the present system.

    why?

    not all the old folks will spend every single cent of the CPF money. ok maybe 1 in 10,000 will spurge everything. This is the minority. I understand this is the minority and the troublemakers, they may have dreams that they cannot fulfil working normally. It is their life decision, you have to respect their choice. They do not represent the entire majority.

    The majority is the type that works, and retire normally, maybe live longer lifes. I understand, give half the CPF back to them. let them plan with the money. because they are the sensible majority. now the PM is saying that because life span longer need to increase retirement age, CPF money later take out. the majority suffers because they take out the CPF money later and less. they are not going to splurge it lah, ok get it?
    these type of people know themselves also what, you understand or not. you also understand your own health right? you kinda can estimate when you are going to leave. meaning, these people know how to ration their savings. so for them, you give them all the money also never mind.

    actually what is wrong with the minority also? old people eat very little one. they don't complain the g-ment because they know they are at wrong what.

    keep the present system. leave the majority alone. don't suka suka say longer life then increase the retirement age and then keep our money out of reach for us for a longer period of time.. I hope this is clear...

  5. #105

    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by dkw View Post
    And if the average life span keeps getting longer? Keep the same? 70 year olds are doing triathlons these days, the paradigm has changed.
    wah piang eh. one 70 year old doing triathlon mean all old hero so power ah?

    one lucky fresh grad getting $5000 starting salary means all fresh grads so lucky ah?

    dont make that freak become a target for all of us leh...

  6. #106
    Member Static's Avatar
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by dkw View Post
    And if the average life span keeps getting longer? Keep the same? 70 year olds are doing triathlons these days, the paradigm has changed.

    At 30+, I think I be having trouble with my 2.4 liao.

    At 70, hahaha Mai siao lah, how many 70 year old are doing triathlons ?

    Most 70 year old could only and would only PCC (playing chinese chess lah u prevert ! )

    How on earth did you come to the conclusion that our average life span is getting longer ?

    I always tot ppl in the past had lived longer than ppl nowadays. There was an foreign article in Straits Time I read sometime back abt a research on the relative lifespan between ppl living in the urban and rural areas. It was found that the city folks has a much relatively shorter lifespan than those country dudes due to stress and lifestyle. Pollution and diet also contribute to a higher risk of contracting terminal illness.

    Ya the paradigm has changed.

    I am speechless. I can say

    I have been double 6'ed... It is very sad...

    and do this

    (o.o)y
    Last edited by Static; 20th August 2007 at 10:34 PM.
    陳綺貞 2010 [夏季練習曲] 巡迴演唱會 Cheer Concert 13 Nov 2010 MAX Pavilion@Singapore Expo

  7. #107
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by deckard View Post
    wah piang eh. one 70 year old doing triathlon mean all old hero so power ah?

    one lucky fresh grad getting $5000 starting salary means all fresh grads so lucky ah?

    dont make that freak become a target for all of us leh...


    At 70s, I think both of us would be waxing and polishing our bikes instead of riding them.
    陳綺貞 2010 [夏季練習曲] 巡迴演唱會 Cheer Concert 13 Nov 2010 MAX Pavilion@Singapore Expo

  8. #108
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by Static View Post


    At 70s, I think both of us would be waxing and polishing our bikes instead of riding them.
    Come on man! Some 70 something can also do one-wheel stand one.

  9. #109
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by Static View Post
    At 30+, I think I be having trouble with my 2.4 liao.

    At 70, hahaha Mai siao lah, how many 70 year old are doing triathlons ?

    Most 70 year old could only and would only PCC (playing chinese chess lah u prevert ! )

    How on earth did you come to the conclusion that our average life span is getting longer ?

    I always tot ppl in the past had lived longer than ppl nowadays. There was an foreign article in Straits Time I read sometime back abt a research on the relative lifespan between ppl living in the urban and rural areas. It was found that the city folks has a much relatively shorter lifespan than those country dudes due to stress and lifestyle. Pollution and diet also contribute to a higher risk of contracting terminal illness.
    Static,
    really, do try and read a little bit of background? This is the frustration in this kinds of discussions. We are debating the need for this change, yet folk who are engaging in this discussion are not even aware of the fundamental underlying drivers and statistics necessitating this action.

    Yes, life expectancy in Singapore in increasing. When I was in Primary school, life expectancy was mid-60s, in secondary school, late 60s, in Uni, it was already mid-70s. As a rough guide, please look at the link below. Form 1998 to 2000, life expectancy for SGreans increased from 78 to 80.

    http://geography.about.com/library/weekly/aa042000b.htm

    More comprehensive stats are available if you look hard enough. Increase in life expectancy is a fact. Does this now change your perspective?

    Triathlons --> Look at Osim 2007 results. Small number of over 50s, but set to increase, as is the case for many western countries. People are staying more active in their older age, agian, fact.

  10. #110
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    Default Re: Singapore wants older workers to continue working

    I saw this in the news paper this morning...
    http://www.channelnewsasia.com/stori...295032/1/.html
    Quoted : Many Singaporeans have welcomed the announcements made by Prime Minister Lee Hsien Loong in his National Day Rally speech.

    "I think its okay to work till 65 because in other countries they also work till older age," said one boy. :Quoted
    Wonder : do he speech for all of us? Why don't they interview those have a oppsite point of view and publish in the news paper.

    If you still strong and very healthy by the age of 65, then that is a good news for you. By all means, carry on working and nobody can stop you.

    It is funny that all the media have been reporting the positive ones and no negative is being published in the news media.

  11. #111

    Default Re: Singapore wants older workers to continue working

    Nowhere in the world does a government takes so much pride in announcing that the nation's aged has to work till really old and way past a retirement age that is acceptable in most first world countries

  12. #112
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    Default Re: Singapore wants older workers to continue working

    slave to the grind...

  13. #113
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by Brand View Post
    Nowhere in the world does a government takes so much pride in announcing that the nation's aged has to work till really old and way past a retirement age that is acceptable in most first world countries

    Could you kindly provide information on what the retirement age is for first world countries?

  14. #114
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    Default Re: Singapore wants older workers to continue working

    What's the point about arguing all this about whether to continue to work during "old age" ?
    Long gone are the days when you can just depend on your CPF for your retirement. Nowadays, you must have your own savings and investments. The CPF, whatever is left after paying HDB and CPF (must pay interest to both sides, sian), is just a small bonus.
    You want choice ? You can retire at 40, 55, 60, whatever age you want, as long as you can sustain your desired lifestyle. Nobody say you can't retire early.
    If you are the kind of person with no savings, then you just have to let the govt manage your money for you and you have to live with their terms. That's it. You can't have your cake and eat it too.

  15. #115
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    Default Re: Singapore wants older workers to continue working

    Imagine that it happens that you die at the age of 68 and you start looking back. What have I done for the whole life? .......

    Quote Originally Posted by Brand View Post
    Nowhere in the world does a government takes so much pride in announcing that the nation's aged has to work till really old and way past a retirement age that is acceptable in most first world countries

  16. #116
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    Default Re: Singapore wants older workers to continue working

    Hey, CPF money is all our own "blood" money. OK. Now the g-ment decide for us whether or not we are allowed to take out our money for our old age. Please.....

    Quote Originally Posted by arpinkor View Post
    What's the point about arguing all this about whether to continue to work during "old age" ?
    Long gone are the days when you can just depend on your CPF for your retirement. Nowadays, you must have your own savings and investments. The CPF, whatever is left after paying HDB and CPF (must pay interest to both sides, sian), is just a small bonus.
    You want choice ? You can retire at 40, 55, 60, whatever age you want, as long as you can sustain your desired lifestyle. Nobody say you can't retire early.
    If you are the kind of person with no savings, then you just have to let the govt manage your money for you and you have to live with their terms. That's it. You can't have your cake and eat it too.

  17. #117
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by arpinkor View Post
    What's the point about arguing all this about whether to continue to work during "old age" ?
    Long gone are the days when you can just depend on your CPF for your retirement. Nowadays, you must have your own savings and investments. The CPF, whatever is left after paying HDB and CPF (must pay interest to both sides, sian), is just a small bonus.
    You want choice ? You can retire at 40, 55, 60, whatever age you want, as long as you can sustain your desired lifestyle. Nobody say you can't retire early.
    If you are the kind of person with no savings, then you just have to let the govt manage your money for you and you have to live with their terms. That's it. You can't have your cake and eat it too.
    So ur point is the gov. has lack of foresight but still making us deposit with CPF and not able to retire? Then i might as well use the CPF money for investment and insurance..at least it gives better returns..
    This is an electronic post which requires no signature.

  18. #118
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    Default Re: Singapore wants older workers to continue working

    Don't forget in 90s or maybe somewhere around that time. A lot of Singpaorean used their CPF money to invest and they got burn a big hole in their pocket.

    Quote Originally Posted by blazer_workz View Post
    So ur point is the gov. has lack of foresight but still making us deposit with CPF and not able to retire? Then i might as well use the CPF money for investment and insurance..at least it gives better returns..

  19. #119
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    Default Re: Singapore wants older workers to continue working

    Quote Originally Posted by blazer_workz View Post
    So ur point is the gov. has lack of foresight but still making us deposit with CPF and not able to retire? Then i might as well use the CPF money for investment and insurance..at least it gives better returns..
    I don't think you get the point. Lack of foresight ? Just the opposite. The govt must cater to the worst case, ie. we all know there will be people who will spend every cent in their pocket and then it will be up to the state to take care of them, meaning you and me (our tax dollars). The CPFIS has been around, but most people actually lose money. Like I said, the govt has to cater to the majority, maybe some people make a lot of money from the CPFIS, good for them, but lots of others kena burnt.

  20. #120
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    Default Re: Singapore wants older workers to continue working

    will i still have a choice ?

    i watch channelnewsasia most of the time , n i get to see some programs of people living a diff life - , eg priviledge life, super yatch n super cars, . i tell myself before i kick the bucket , i must travel around the world.

    is abt experience, true i can book a travel video but nothings beats the feeling of the environmental factors brushing against your senses.

    right now , i already have no savings cause go loans to clear, n when i learn that when i m old i may not withdraw my money for thingslike touring saddens me further.

    ofcourse i have to keep my self healthy,otherwise no employees will want me, but the main reason why i want to keep healthy is to really have the fitness to tour the world.

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