Tag Archive | "retirement"

S’poreans react to having to save 9 years longer for retirement than previous generations

S’poreans react to having to save 9 years longer for retirement than previous generations

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Three thoughts you must have had.


According to a new report, workers in Singapore have to save for retirement nine years longer compared to previous generations.

Previously, Singaporeans saved an average of 20 years, starting later at age 39.

These days, the average Singaporean starts saving for retirement at 32 and continues for another 29 years.

Despite the longer and earlier period of saving, 41 percent of current working age Singaporeans wish they had started to save earlier.

More than 38 percent have stopped saving altogether due to various difficulties.

Here are three thoughts Singaporeans have:


sian-half-auntie “Nine years longer means Singaporeans can only retire at age 136.”
Tui Xiu, 44-year-old semi-retired retiree


sian-half-uncle “Older Singaporeans have other options besides retiring, namely, dying or passing away.”
Xi Keow Kiao, 68-year-old undertaker


happy-bird-girl “There wouldn’t be this problem at all if Singapore abolishes retirement.”
Gan Diao Ta, 17-year-old student







Older MPs will get lesser pay soon

Older MPs will get lesser pay soon

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This result is based on accurate assessment of national sentiment.


Older members of parliament will soon have their salaries cut, as the older they get, the lesser they should earn.

This after it was reported in The Straits Times on May 3, 2014 that “Less pay is okay, say older workers”, which is a highly accurate reflection of national sentiment on the need to never have to retire.

One older worker, Low Kok Kok, said: “I can work until 70 years and draw $1,000 a month. Goh Chok Tong can anot?”

This sentiment was also shared by other old people.

Low Gu Tong, another local old person, said: “If I get paid $15,000 a month, I also don’t want to retire.”

SR Nathan’s memoirs will not include “Official Secrets”

SR Nathan’s memoirs will not include “Official Secrets”

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Looking forward to coffee shop half-boiled eggs and sarong after retirement though, says outgoing president SR Nathan.

Caricature of SR Nathan taken from http://stevecaricature.wordpress.com/ (Very talented artist! Check his works out!)

In his 12-year tenure as president, the most difficult decision SR Nathan had to make was in 2009.

He had to decide whether to approve the Government’s request to dip into past reserves to fund programmes to help Singaporeans through the financial crisis.

The 87-year-old said: “Of course there was the Council of Presidential Advisers who gave you advice. But even to evaluate that advice, you need to develop your own sense of the lie of the land, and what is happening and what it can lead to.

“It’s not just on a sheet of paper coming in (and) saying yes or no”.

Although his custodial role managing the reserves made his life dicey at times, Nathan’s life in the civil service before becoming president also had its exciting moments.

He and 12 civil servants and SAF commandos were awarded the Meritorious Service medal for their role in the Laju highjacking in 1974.

Nathan was then the director of the Defence Ministry’s Security and Intelligence Department.

Four terrorists had hijacked the Laju, a ferry operating between Pulau Bukom and mainland Singapore after trying to blow up Bukom, and demanded the presence of the 13 civil servants as guarantee of a safe passage to Kuwait on a Japan airlines plane.

This risky episode will be related in his memoirs to be released in September, which was written over 15 years starting in 1996 when he ended his stint as an ambassador to the US.

He had initially intended to publish it post-humously because he claims civil servants are not interesting.

He said, “You know, civil servants have nothing exciting to tell. What can you tell?”

Moreover, those looking for insider or classified information into the presidency can forget it.

He said, “You can’t tell the Official Secrets anyway, the exciting things, so what was the point? I was only telling my experience.”

Nathan also revealed he hasn’t been to a coffee shop in 12 years to eat half-boiled eggs.

While in the Istana, he spent a lot of time entertaining foreign dignitaries, thinking about topics of conversation to engage them in because he doesn’t rely on the guidance given by the foreign ministry and offered his patronage to many voluntary causes.

He admits not enjoying the fusion food served in the Istana, has a sweet tooth and likes spending time in his sarong.

Neither does he debate with Lee Kuan Yew. Or his own wife, Mrs SR Nathan a.k.a. Umi.

This is a 60-second reduction of the original two-part interview published in The New Paper on Aug. 29 and 30 that was plugging Nathan’s memoirs.