SOURCE OF NEWS: THE STRAITS TIMES FORUM
DATE: JAN 30,2010
TITLE: Housing prices: Worry over impact on retirement savings
WRITER: Kang Choon Tian
LINK:http://www.straitstimes.com/STForum/OnlineStory/STIStory_483959.html
SUMMARY: The writer stated his own situation about the payment of his flat. It is an example to show the situation of most people which they have to pay for their flats in 20 to 30 years. However, some people will reach 60 years old and they will retire in 20 to 30 years' time. Hence, with less income but the same amount to pay for the flats, life can be quite difficult for the old people then.
RESPONSE: I refer to the letter"Housing prices:worry over impact on retirement savings" which is written by Kang Choon Tian on ST Forum. I agree with the writer, and I think it is quite a practical thing for those who are going to buy or those who had bought flats on loan to take into consideration. In 20 to 30 years, when people retire, they only can live on their savings, but still have to pay for a large amount of money for flats, it is really a big burden for old people then.
That makes me think of a phenomenon exists in Singapore that many old people work at canteens or some food publics. I cannot get used to be served by old people when I just come to Singapore because in China this is something disobey our moral consciousness. And I asked local people why it is like that in Singapore, they told me that some old people work because they have to earn some money to sustain their families. I am quite surprised, and then I got a new understanding that in rich countries such as Singapore, there are still many people under big pressure to strive for good life. But I strongly wish the government to be more considerate to old people. Since they have been busy for many years, it is time for them to enjoy the sunset of their lives, and I don't think it should be something luxury for them. So in my opinion, to deduce the amount of the payment to the flat loan for the retired people is quite necessary, and the government should take some actions to provide old people relaxing lifes.
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Comment by Corbin (Guan Mingyang)
ReplyDeleteI agree with your ideas. In my opinion, old people really need to take a rest and enjoy their sunset. There are mainly two reasons. First of all, as you have mentioned, old people have worked for so many years and have done a lot of benefit to the society. Now, it is the time for society to pay back and take care of them. Secondly, it is not very suitable for old people to do those works such as dustmen. Since old people are usually easier to get tired and in poorer health conditions, those work will do harm to their health. To these two points, government had better low down the rent of houses or find other better solutions to this problem in order to leave the old a better and more comfortable rest life.
I do agree with Iris' idea. In NTU, we always see some old people work in the canteen. And they told us they still cannot stop working because of locking of income. After retired, they did not get as much as working. However, there are still many items will cost them much money. Thus, they have to go back to work again. As a developed contry, I think Singapore should gurantee the old citizens' welfare.
ReplyDelete---by Holly