Do you have enough for retirement?

If I go for a new HDB in somewhere far far away like Sengkang, it’ll probably cost me around 300K. Minus off the miserable amount of money I have in my CPF account, I’ll have to fork out more than 1K each month for the next 20-30 years to truely “own” (errr… I guess not, since we don’t own HDB flats) the flat. But wait, I only contribute 1K to my CPF account every month ! Which means that, by the time I retire (or die on the job), I’ll literally have NOTHING in my retirement account…. What a joke.

That, brings me to the point I’m trying to get through in this post. There’s something seriously wrong with our pension scheme. I know we’ve been through this a thousand times, but something needs to be done and quick. Else, we’ll end up with a generation that can’t feed themselves when they retire, or have to work themselves to death, literally.

The Sun Chair Critic.

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