"The key goal, said the Prime Minister, is to enable workers to work longer and retire later"
- CNA Report on PM Lee's 2007 May Day Speech.
I guess our govt really wants us to lead a meaningful life. Instead of engaging in unproductive activities such as looking after grand children and taking long walks in the park, most Singaporeans will be working well into their golden years. Unlike our esteemed MM Lee who still possesses his unconventional wisdom and hence deserves his million$ salary, most older Singaporean will turn a little senile and have to take up menial jobs such as cleaners, security guards or tissue paper sellers.
Singaporeans are so lucky to have a govt with a clear vision and goal of working its citizens beyond their retirement age. Only lazy Singaporeans will resent this opportunity to outwork citizens of other countries. They are asking what happened to our CPF scheme that was suppose to enable us to retire? Why is your CPF not quite sufficient? You see many years ago, our property prices were quite anaemic causing our HDB to sell cheap housing to Singaporeans. The CPF liberalisation which allowed Singaporeans to use their CPF to purchase property helped to fuel a multi-year property boom which ended 1996 when the bubble popped. Thanks to this move, billions of CPF money shifted into property mostly HDB flats causing HDB to have a humongous surplus (not profits as HDB flats are technically market subsidised). If not for this move, HDB prices would have remained low (to keep them affordable) and CPF money would intact for retirement. The choice now for most people is you either consume your flat (reverse mortgage) or work. Most people would choose to work because they can't bear the thought of paying so much for their flat then giving it all back to HDB or some govt GIC.
Most mediocre underpaid governments such as those in Australis, Sweden, Hong Kong and Finland actually developed systems in which its citizens actually stop working at retirement age. I feel so sorry for the citizens of those countries who don't have the benefit of extraordinary leadership of the PAP. They have to lead unproductive lives after their retirement age idling in parks and playing checkers at community centers.
Singaporeans are so lucky to have a govt with a long term vision. This May Day is a joyous occasion to celebrate our good fortune of having such extraordinary leadership. Telling Singaporeans they have to work longer and harder after giving themselves million$ pay hikes is something only the PAP govt can do. They are indeed extraordinary in the things they say and the profound logic they apply to justify their actions.