ManuLife took up advertisement in MRT stations about planning to make sure we can enjoy simple pleasure in life after retirement. A somber reminder that many S'poreans would not be able to do so in their retirement even if they meet CPF minimum sum requirement after working a whole life time. The advertisement uses 2 examples - enjoying breakfast with your spouse and the couple going for annual holiday.
Breakfast : $6 x 365days x 25 year ~ $55k
Holiday : $3000 x 25 years ~ $75k
With inflation, even skipping breakfast and just taking 2 meals (lunch/dinner) a day in heartland hawker center, $6 would hardly be enough even for 1 person in the near future. What with household bills..etc, holiday is out of the question. The money has to go into food and other expenses to make ends meet for the retiree, especially if he/she has to support his/her spouse or elderly parent(s) as well.
This is the Hard Truth at ground level.
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