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Government using Singaporean Pension Fund as if theirs.





shenyl
Speaking of democracy and then enforcing "Compulsory buy in" to annuity policy using of the individual pension saving of Singaporeans.

If this becomes law, then there is no stopping what the government can legislate to use the Singaporean's pension saving.

This was mentioned in many articles of Straits Times Singapore. Especially on 22 Oct 2007, where the Senior Minister Goh, was quoted as saying - the Singaporean will be happy if the annuity payout is shifted back from 85 years old to 80 years old.

It is not the payout date, but rather why Singaporean MUST buy an annuity? If the annuity only pays 300 dollars per month, what is the use of it? And at age 80 then you begin to get some of your deposit back.

I strongly feel this is only the first step, and this can opens the way to more manipulative laws to drain the Singaporean pension saving.
otiscom
Never trust politicians. They find any way to take money from you but not to give any back.
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