CPF savings 'may not be enough for old age'

[KopiKat]

> The key is not the extra $10k (that's the carrot or cheese depending on how you look at it).

You dont' get my point. I am saying they piss the elderly and me off, in trying to extract more $ from the subsequent sale of the flats.

> The key is your original flat that they are trying to get you to downgrade from.

Their solution is for hard up cases. We are informed investors. Dont have to follow them. Just rent the spare rooms to people and keep the flat.
But our SIngaporean elderly can be very stubborn. In this case, they should stay hungry, don't deserve pity.

My original post in this thread was to explain what I think the govt is doing to solve the problem of 'Money No Enough' in CPF for retirement. For retirees whose CPF money were used to buy a house, they have introduced 'incentives' for them to 'monetised' it, from Reverse Mortgage to the latest schemes announced in Budget 2012.

Most of us here in this forum are very unlikely going to be in that kind of situation of 'Money No Enough' for retirement. Many here will likely be Finanically Free even before they reach the original retirement age of 55. I don't think we need to be concerned for them.

As for your opinion on Singapore elderly, I can only quote some infamous person, "I really don't know what to say!".