A month after the CPF changes were announced by the Singapore government, the government still has a long road to go to convince Singaporeans the changes are for the good of the people.
After a three day debate in Parliament on CPF reforms, Manpower Minister Ng Eng Hen said that the changes were fundamental, long-term, and will better prepare Singapore to support its larger older population as all CPF members will be better off with the higher CPF interest rates.
Again the government push the good without explaining the bad! Most Singaporeans have no problem with the higher CPF interest rates, what Singaporeans are unhappy about is the other parts of the changes. Raising the draw-down age for the minimum sum from 62 to 65 (when most people believe they are not going to live that long); the government making buying annuity compulsory (which the Singapore government openly admit gives bad returns); these are the problems!
Explain, and more importantly, convince Singaporeans the need for these changes. Until that happened, anything else coming from the minister's mouth will be nothing but air.