the mrbrown show: annuity schemes

Photo by TheeErin

We educate you about the new annuity schemes!

Podcast iconPodcast: the mrbrown show 21 August 2007: annuity schemes (MP3, file size: 1.6mb, Time: 00:03:25)


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20 Responses to “the mrbrown show: annuity schemes”

  1. ailuikasi Says:

    I like what Mr Brown said about “I thought we already planning (for our retirement)”.


  2. oldcayote_stillwontdie Says:

    the song : Stand up for Singapore… the best you can…
    … Prepared to Give a Little More!

    makes more sense to me now than ever.

  3. fynyx Says:

    You hit the nail there on its very head, mrbrown:
    Singaporeans will no longer get to enjoy their CPF,
    Even this very personal possession of theirs is taken away from them, to be controlled by someone else.

  4. at leeeeeemercy Says:

    poor us….support singapore since we born, even after death still must support.. unless pay more upfront money.

  5. Jac Says:

    Haha i like the last line. “It’s a personal thing”…indeed.

  6. N Says:

    Thanks Mr Brown. You really did point out the disadvantages of the annuity scheme! =)

  7. Deceased Says:

    Compulsory annuity.
    this shows that older folks are still behaving and thinking like babies.

    Forever spoonfed.

  8. lapis Says:

    I took pitty and sympathise the 91 yeras old Ah Mah, whom our PM commented!
    How pathethic she is! At age 91 still have to work as CLEANER! Do you know how tough and hard a cleaner’s job!
    I felt so sorry for her! What happen to all her children or grand children? May be they also cannot afford this life in Singapore? So sorry Ah Mah!

    At age 91, if I live that long, I wouldn’t want to be a cleaner, but I don’t mind to baby sit my grand children! I don’t want to work till I drop death! Its so sorrowful! From the day we start to walk we are told to learn and study hard, meaning work hard.
    Then left school, start to work, again have to work hard!
    Married have to work harder to feed more mouths.
    Children go to school have to work harder!
    Then at age 40s, afraid of being retrench, how tired also have to work hard! One person take 5 person’s job, just day in and day out get up 5am, go to work hard until 9pm or later. Only thing look forward for is that little bed!

    Everyday, work hard, work hard, work hard, work hard, WORK HARD, WORK HARD, W O R K H A R D, W O R K H A R D………until some one discover my body stop breathing?

    Oh no! I have not really realize and experience what is living yet!

    Let me have some life before God call me please!!

    I don’t want to work till I drop death!

  9. tom Says:

    yeah! Straight to the point man! I just feel the government keep pushing the day for people to take their out CPF. With the HDB flats pricing so high, people where got money to retire? All go the flat liao!

  10. No 1 Ah Beng Says:

    Some people are taking money from the old and dead Singaporeans and PRs and enjoying the luxury and the opulent living. How do they sleep at night?

  11. NoFear Says:

    PAP=Blood Suckers I will vote for the opp even if it shi shun quan.

  12. Jerome Says:

    It used to be that for every dollar we earned, 40 cents went into savings, and that was quite a saving scheme by world standards. So how did it ended up that retirement is no longer affordable, and we face the horror of working to the grave? Two words - asset enhancement - a.k.a. subsidized housing. Look at those who still have cash into the bank, they didn’t for the trap.

  13. wee fong Says:

    why cant hear the annunity schemes podcast? pls check

  14. Ng Say Hwee Says:

    Why I could not hear the podcast? It just hanged there. It is blocked by someone?

  15. lululu Says:

    the best insurance against longevity risk is delayed retirement. research shows that boeing aerospace employees who retire at 49 live till 86. those who retire at 65 till 67.

    problem solved already what. garmen raising retirement age to 67. we all die at 67.5

  16. emigre Says:

    It’s probably useless but sign the online petition against compulsory annuity:

  17. cannot tahan liao Says:

    life is so miserable here. If we work beyond 65 our health also deteoriates. Just like machine, “over work” machine also need high cost for repair and overhaul. So, no matter how we save the money for our old age (just like our govt wants us), we will still be unable to afford to pay our “repair” bills……Our Quality of LIFE really BAD………….. Save our money for retirement so that we can enjoy LIFE, and now ?????????

  18. Incidental Singaporean Says:

    We seem to agree that we are indeed the debt trap generation. I gained some insights which is not conclusive but I think is rather interesting.

    Our parent’s generation, the father is the bread winner, and the mother is the home maker. Effectively, only one person per household is contributing to the CPF which is also used by the GIC as funds for investment.

    Quite a few forumers conclude that HDB flat is overpriced. The profit element aside, I begin to think that the flats are set at such price levels to achieve other objectives besides making profit.

    Setting the price of public housing at a certain price range infact ensures that husband and wife needs to be gainfully employed thru their adult working to service a 30 year mortgage. With 2 per household contributing to the CPF, the amount of funds for the GIC infact double.

    Setting the price of flats at a optimal price range also ensures that when the couple retires, the bulk of the CPF is used for paying the mortgage. Left with little to retire on, the policy of working to 62 immediately becomes popular as you need a supplement income. As there is no social welfare in Singapore, working beyond 55 is the only logical solution for a population with an increase life span.

    If the couple are DINKs (Dual Income No Kids), the amount of tax DINKs have to pay is substantial if both have high earning power. By adjusting the limit of salary range that attracts CPF contribution ( lowering to the limit that attracts CPF to $4500 being a case in point), it can still influence people to make lifestyle adjustments despite receiving high income.

    Well the point I am trying to make it’s that having CPF intertwined with so many other schemes ensures that your nest egg is effectively consume in Singapore, in either housing, education or medical expenses.

    With nothing left by the time you reach withdrawal age, it ensures that there is no en mass capital flight to more retirement friendly countries.

    There is no need to make provisions for social welfare. You are left with a group of matured and highly docile wage slaves that are prepared to work even beyond 62. There is always the family court where parents can take their children to court if they don’t give them an allowance after 65. It’s brilliant.

  19. Car Whizz Says:

    I think Singaporeans will not get to enjoy their CPF….at least not all of it, because there’ll always be a component that you can never ever take out. So in this land, we’ll have to give a little more — your time, your money, your effort and even your children for time in NS. No choice man!

  20. Keith McGee Says:

    I don’t know if this will help you with most of the clients, but I’ve used fixed annuities (mostly for qualified money) as a better alternative.

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