Singapore Government - complusory Annuity in Online Diary with 0 comments on Mon Oct 22, 2007 4:37 am
Today Straits Times of Singapore.
Senior Minister Goh, said Singaporean should be happy that the Compulosry Annuity plan will begins payout from age 80 instead of 85 years old.
This is said, as the focus is shifted away from the real issue - does the government has the right to enforce complusory use of the pension saving of the individual?
Shifting focus, does not remove the real issue, it simply denied the existence of the real issue.
In democracy, does the government has the right to enforce complusory buy-in to annuity (and of course others possibilities in the future) with the personal fund of the people?
Who owns the fund? Do the people has their right over the use of the pension fund?
All these real issues are "silently" set to NO. It is an undemocratic approach, especially to the funds which the people are saving up for their retirement.
Senior Minister Goh, said Singaporean should be happy that the Compulosry Annuity plan will begins payout from age 80 instead of 85 years old.
This is said, as the focus is shifted away from the real issue - does the government has the right to enforce complusory use of the pension saving of the individual?
Shifting focus, does not remove the real issue, it simply denied the existence of the real issue.
In democracy, does the government has the right to enforce complusory buy-in to annuity (and of course others possibilities in the future) with the personal fund of the people?
Who owns the fund? Do the people has their right over the use of the pension fund?
All these real issues are "silently" set to NO. It is an undemocratic approach, especially to the funds which the people are saving up for their retirement.