Extravagant help for the needy?
August 31, 2007
The ChannelNewsAsia report “50 needy households receive free electrical appliances” (29 August) (link) said that:
“Needy residents in the South West District received various free electrical appliances on Wednesday due to an initiative by the South West Community Development Council and appliance manufacturer Akira.
Akira has donated S$120,000 worth of appliances for 50 low-income households.
A set for each household includes a kettle, stove, rice cooker, radio and cordless phone.
Mayor of the South West District, Dr Amy Khor, was on hand to give the recipients a few tips on using the appliances”.
Dividing $120,000 by 50 equals $2,400. Are these top-end very expensive appliances? A kettle, stove, rice cooker, radio and cordless phone cost $2,400?
US ambassador says “US will fight” if China invades Taiwan
August 30, 2007
By Gerald Giam
If the People’s Republic of China decides to take Taiwan by force, the US will fight on behalf of Taiwan against the Mainland, said a former US ambassador.
Chase Untermeyer, who just completed his tour as ambassador to Qatar and is on his way back to the US, made these personal comments on Tuesday at a public lecture on “US policy in the Middle East” at the Lee Kuan Yew School of Public Policy, which was attended by about 80 government officials, foreign diplomats, academics and students.
The ambassador used the Cross Strait example to illustrate the importance the US government — in his opinion — places on the principles of democracy and freedom in making its foreign policy decisions. He pointed out that successive US administrations had made decisions to enter military conflicts not simply out of national interests or detailed calculations of the costs and benefits of entering the wars, but based on deep seated principles that are “as old as the US itself”.
Questions about pensions, HDB, CPF, transport, jobs, charities, etc.
August 29, 2007
On this morning’s (29 August) NewsRadio 938 Talkback programme from 8.10am to 8.50am, the guest on the programme, MP Halimah Yacob, NTUC Assistant Secretary-General and Government Parliamentary Committee (GPC) Chairperson on Health, said that Ministers no longer receive pensions.
She was replying to a caller who asked why and whether it is equitable for Ministers to continue to get pensions, when the people have to purchase a compulsory deferred age 85 annuity paying just $250 to $300 a month.
Are there systemic problems in our CPF system?
August 29, 2007
I refer to the article “Flexible, basic and cheap annuity scheme” (Today, Aug 27).
Instead of spending the $750 million a year to pay the additional 1 per cent interest on the first $20,000 of the CPF Ordinary Account, and $40,000 of the Special, Medisave and Retirement accounts, growing these sums at say 5 per cent interest will accumulate to $67.7 billion in 2042 (the first year that the compulsory annuity will start at age 85, for those who are below 50 years old now).
This amount can at 5 per cent interest provide $300 a month from age 85 to 100, for 1.79 million Singaporeans.
By age 100, about 99.9 per cent would have died.
In Parliament: government’s reply poorly reasoned, insulting
August 28, 2007
By Choo Zheng Xi
The Worker’s Party MPs asked why their party was not allowed to hold a cycling event at East Coast Park as part of their 50th anniversary celebrations.
If Minister of State for Law and Home Affairs Ho Peng Kee’s answer is any indication, the rationale for the police denial of the permit is completely bankrupt of all good sense.
The recent ban was justified by Associate Professor Ho using the following reasons:
“It is an open area where there is potential for breach of peace, public disorder, and unruly behaviour.”
The relentless rising cost of living in Singapore
August 27, 2007
The following is a collated list of price increases which TOC could find – from various news reports, blogs, websites, forums, etc – since Jan 2006 to the present.
If we have left out any, please do let us know. If you have observed any price hikes around your neighbourhood (or anywhere else) please let us know also.
We can be reached at theonlinecitizen@gmail.com
The list may not be comprehensive and any clarification is welcome.
Annuities for Singaporeans, pension for ministers?
August 25, 2007
By Andrew Loh
The current debate on the issues of retirement, compulsory annuities and the CPF shows up 2 stark contrasts.
For ordinary Singaporeans, the annuity scheme - to put it simply - is basically a “pool fund” where the old support the old when they retire. When they pass away, their contribution to the fund is used to support the ones who are living, those 85 and above.
For government ministers, their “retirement” scheme is something from way back in the past. I am talking about the Pension Scheme for the Administrative Service (AS). (This includes prime ministers, senior ministers, speakers, ministers of state, mayors, parliamentary secretaries and political secretaries.) (link)
Unanswered questions about CPF changes
August 24, 2007
By Leong Sze Hian
This is in reference to media reports that the CPF Special, Retirement and Medisave accounts’ rates will be modified next year.
The question that may be in every Singaporean’s mind is whether the peg to “an appropriate long term bond rate” may result in a higher or lower average rate, compared to the 4 per cent fixed rate now?
Channelnewsasia reported Manpower Minister Ng Eng Hen as saying:
“… the new rates will be lower initially than the current rate of 4 percent but it should do better than 4 percent over time.” (link)
What is the basis for the statement that “the new rates will be lower initially than the current 4 per cent but it should do better than 4 per cent over time”?
WP Youth Wing elections set new tone for youths in politics
August 22, 2007
By Choo Zheng Xi
It was not so long ago that the single most familiar refrain of opposition politicians was a constant complaint about a ‘climate of fear’ surrounding politics.
If the Workers’ Party Youth Wing (WPYW) elections were any gauge, this cloud of fear seems to have largely been dispelled.
Held last Sunday at the WP headquarters, the elections returned 3 fresh faces to the Youth Wing executive council, using a unique election system tailored to ensure maximum renewal.
Some concerns about annuities and tweaking the CPF
August 21, 2007
TOC writer Leong Sze Hian was interviewed for his views by the mainstream media on the Prime Minister’s National Day Rally Speech. Below are some extracts from the various reports.
Straits Times, 21 August
Views split over making annuities a must for the under-50s
In the other camp were people like the president of the Society of Financial Service Professionals, Mr Leong Sze Hian. While not against annuities, he had reservations about not giving people a choice.
‘Those with the full CPF Minimum Sum should be okay. But if you make those who don’t even have the full Minimum Sum buy annuities, they may not have enough left to survive,’ he said.
