Sad right? Govt just wanna make sure that we pay our own way. All the way.
Why is it sad ? Everyone is responsible to make sure that they retire responsibly, why should it be the government’s responsibility ? We have a growing aging population, if the government doesn’t introduce something like this, you will get alot of elderly out in the streets because they have accidentally squandered away their cpf lump sum windfall to their cheaters, kids, bad investment and gambling. Is that what we want to happen ? Then, when these same elderly are on the streets, we are going to exclaimed that the government does not provide help to these poor people. At the end of the day, someone will need to pay for it, it will have to come from the younger generation in terms of taxes. Is that what we want for our younger generation to suffer for the irresponsible behavior of our elderly due to poor retirement planning? Something for all of us to ponder I guess.
That’s true. But the numbers do not make me look forward to living till 89. In fact, I prefer not to leave any bequest.
:-). I am also not keen to live so long, it will be a chore keeping the mind and body in tip top condition. I think singles like us don’t really care about leaving behind any bequest. Those with families probably would want their dependents to have something when they pass on.
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