Of the many reasons why I moved to Singapore, the one that surprises Singaporeans the most is my desire to be a CPF member. Some Singaporeans feel that all CPF does is “rob them of their hard-earned money”. Yes, CPF is a means of forced savings. But nearly all developed nations (including the US) have such a system as the foundation of their social safety net. While nobody likes being forced into something (even for their own good), being forced while feeling cheated is far worse. In a recent report, the US Social Security system has admitted that their entire fund will be depleted by the year 2034.
How can we create a culture of philanthropy and volunteerism? That was the question posed to us, a group of 10, who participated in the pre-budget dialogue last week. Here is what our group came up with:
If you’re just starting out, in transition, or in need of a complete career makeover, you might want to seek the advice of a career coach. Normally, career coaching can cost anywhere between $100 to $300 an hour. But at the Employment and Employability Institute (e2i), these services are free for Singaporeans.
[By Dr Jake Goh]
My son was born last November. We had been planning and waiting for his arrival. But what we didn’t expect was for my wife to undergo an emergency caesarean delivery. Thankfully, I was able to use my Medisave. Then, when I received my year-end bonus, I topped up my Medisave, intending only to maximise my CPF account. But what happened next was a pleasant surprise.
The median age of Singapore’s resident population is just over 40. So chances are that you or someone you know is aged 50 and above, and in need of government assistance. You also may know that there are way too many schemes to keep track of (nearly 50 of them). But now there’s a one-stop portal that was designed especially for the older adult and senior population. It’s called Silver Schemes. (more…)