See how quickly the PAP realised it can make improvements. After introducing the CPF investment scheme in 1992, the PAP has discovered that unit trust has been charging investors to high a managment fee crippling their returns. It only took the very brilliant elite leaders 13 years to uncover this. Any other govt would have been stumped and would not be able to solve the problem. Not the highly paid brilliant scholars forming the PAP government:
The solution of course is to reduce cost of fund management and the PAP has promptly look into this after 13 years of implementing CPF investment scheme. Singaporeans are so lucky to have such a caring intelligent govt looking out for them protecting them from banks that want to profiteer from unit trusts.
The other brilliant solution from the PAP for retirement is annuities. First you give monthly contributions to an insurance company most likely NTUC over the course of your working life until you reach your retirement age which will most likely be revised to 70 years old. When you reach this age, you would have contributed 45 years to the annuities. Then every month NTUC will give you back a fix amount until you die.
When you die, you don't have to worry about your children fighting over your CPF remainder because an annuity ends when you die. What a beautiful idea, you come to this earth with no money and leave no money when you die. I'm beginning to appreciate the beauty of the PAP's thinking absolutely brilliant!