Why SRS accounts are a good way to save

[tanjm]

When we invest, if external factors cause our initial projections on future earnings to be off target, we project again, monitor and act. If retirement age is extended because we are living longer, living cost is climbing and manpower pool is shrinking, why do we call it a shifting of goal posts?

If the revised framework is good enough, we should see the system running on its own till the next impetus for change. In my office, we always say that small changes come every 5 years and big changes every 10 years. A system that is late or resistant to making structural changes in response to a changed environment will be broken. The investing world is full of examples like this.

My humble opinion. Plan, project, monitor and act.

Actually there is no shifting of goal posts. The goal has always been to ensure adequate retirement income for the average Singaporean. Things like withdrawal age are merely metrics. People are mistaking the tools or milestones for the goal posts.