26,000 Singaporeans are aged 85 and above.

[Stallion]

Set payout age for compulsory annuities at 80 but raise premiums: SM Goh

http://www.channelnewsasia.com/stories/singaporelocalnews/view/306943/1/.html

[tom]

"Dr Ng said the National Longevity Committee would consider the various options. Their report is expected to be out early next year. "

" Mr Goh was speaking at the graduation ceremony for YAH! Community College, which promotes lifelong learning. "

So what they are talking about is :- Those that are 50 years and below ( dated 2007 ) annuity is compulsory. Draw-out starts from 62 to 75 or 80 years old. From 76 or 81 onwards, members will start drawing from longevity insurance by CPF.  cannot understand why premiums has to be raised.

[Stallion]

For $$ la... what else??

[tom]

Every other day, a new story emerged...............

""The Manpower Minister said: "We should allow choices because people have different needs. The basic idea that we want is to make sure people have enough (savings to last) for as long as they live. But none of us know how long we will live, so that's a difficult part."" ( At first they say " 85 and above )

"" Some people think they need this insurance earlier and they want to start at 80 as Senior Minister (Goh) has said. Some may even want to start at 75. Others think they need this less, so they don't mind 85... I think it's possible to allow all these options.""

So the more we read, the more we don't understand.