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Singapore Reserves Award For All Singaporeans!

 
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Reserves Award - Good Idea Or What?
Yes! Every Singaporean should get it!
87%
 87%  [ 7 ]
No! It Should Stays Status Quo!
12%
 12%  [ 1 ]
No Idea!
0%
 0%  [ 0 ]
Total Votes : 8

Author Message
Bumblebee
Silver Member


Joined: 24 Jun 2008
Posts: 1215
Location: Singapore North

PostPosted: Mon Apr 25, 2011 11:41 am    Post subject: Singapore Reserves Award For All Singaporeans! Reply with quote

Singapore Reserves stand at US$233,368,400,000 (>US$233Billion) in March 2011 as appended in MAS website.
http://www.mas.gov.sg/data_room/reser...ign_Reserves.html

Where is this Reserves located? Can MAS itemised this lump figures into its respective allocations?

Does this Reserves include whatever capitals, business capitals, working capitals in GLCs, including Temasek Holdings and GIC, etc....???

This ruling government always talk about using this reserve (nation's savings) only when absolutely necessary, like in a bad recession or something. When? And why this reserve can only be used when needed?

During the nation building years, when this reserve were stacking up, under the 1st generation ruling government, all citizens work real hard to eke out a living and supporting its policies (right or wrong, good or bad, whatever).

Many of these nation-builders are old and "retired" and even more are dead and gone.

My suggestion to the President, the ruling Government and all citizens of Singapore.
All law-abiding citizens of Singapore must be rewarded with a share of the Singapore Reserves while he/she is still alive and living. And to be fair for all, the Singaporeans who are dead and gone should be "rewarded" in retrospect to benefit their descendents.

Yes, there's is CPF (good or bad) which was implemented since independence. But, this sum is barely sufficient to tie the working seniors into their seventies and beyond. An amount from each Singaporean share of the Reserves must be awarded to him/her when the age of 60, 65, 70 and so on is reached.

The Reserves for each Singaporean's share should be divided into 3 portions. One third to stays in the Reserves as a common pool, one third for the uses when needed (bad recesssion or what) and the last one third to be awarded to him/her when the time is right.

This award from the Reserve became a kind of Pension Fund for the law-abiding Singaporeans.

A rough working sheet:
WIth the latest figures from MAS, the Reserves stood at US$233,368,400,000 (>US$233Billion), and a population of 5 million, each share of the Reserves is US$46,673.68. Divide this by 3, the sum is >US$15K.

This estimate US$15K should be divided into 5 payouts at age 60, 65, 70, 75 & 80, or any other age arrangements.
Of course the actual amount should be work-out at each monthly balance of the actual Reserves before the payment at each birthday of the recipient.

This way, the law-abiding citizen has a share of the nation's success. The whole share of each Singaporeans in the Reserves should not be left in safe-keeping for future uses while the "rightful" owner didn't have anywhere near it to enjoy. Sly Nod

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Pel
Gold Member


Joined: 09 Jul 2003
Posts: 2605
Location: Anchorvale Place

PostPosted: Mon Apr 25, 2011 1:44 pm    Post subject: Reply with quote

I know election time is a good time to ask your MP for "favours"... but don't you think you are a bit greedy? Very Happy
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RN53
Super Member


Joined: 27 Oct 2004
Posts: 10837
Location: Hello, from WOODLANDS!

PostPosted: Mon Apr 25, 2011 2:59 pm    Post subject: Reply with quote

Generally speaking, this is a great suggestion. I like it! Nod
One third of "entitlement" and for older age...........why not!?

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Nicholas
Silver Member


Joined: 08 Nov 2006
Posts: 1081

PostPosted: Mon Apr 25, 2011 3:01 pm    Post subject: Reply with quote

That would be great, otherwise, they will keep millions of execuses to suck all our $ from the reserved fund !!

Haha Very Happy

I would say, should award all the elderly in singapore and then follow by low income family that need help
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