Making you angry so that he can win your vote. That's what Chee Soon Juan is doing. But lies must be exposed.
That said, think about this. CPF Life will save you from having to pay more in taxes to fund social policies to support people who will otherwise squander away their CPF savings.
Do the mathematics, folks, and calculate how much it will cost taxpayers to support one person, who has squandered away his retirement savings, for the rest of his life at a monthly public assistance of $500.
Today, 1 in 7 Singaporeans are aged 65 and older. That's approximately 500,000. This will increase to 900,000 by 2030. Let's say only 10% will squander his retirement savings away.
Do the maths. (500 x 10% of 500,000 x 12 x no. of years he lives)
The Government's responsibility to take care of these people is also taxpayers' burden. THIS is the reality.
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