Reading in the ST the valiant and sterling efforts that the government is putting in to help older workers (Employment Credit Scheme for employers to compensate employers for the increased CPF that they will have to pay older employees*, and cutting FT numbers), I could not help but think of a story I recently read.
People who carry on working in some capacity beyond their retirement could live longer, because they are not so lonely. Mr David Halpern, an academic who is a specialist on health and social activity, said a lack of social interaction was “much worse” for elderly people in terms of its effect on their mortality than smoking.
The findings come from a meta-analysis (analysing lots of different pieces of existing research) of 148 studies into the effects of social isolation on mortality conducted by academics at Brigham Young University and the University of North Carolina in the US.
Well I’m sure this “finding” will find its way into our constructive, nation-building media and into the spin that the government puts out. And I’m sure the SDP and KennethJ will point out the advice, when made here, is part of a plot to get 70-something old S’poreans to slave away to keep GDP high (now that FTs are no longer available to force feed GDP growth) so that ministers can get their millions in bonuses.
If the SDP and KennethJ is right about the confiscation and misinvestment of our CPF monies, shouldn’t the government be forcing S’poreans retire young, the govmin can ensure that the premiums that are paid for old-age annuities are “wasted” by the insured since they will die before the annuities come into effect. This means the govmin can continue hiding the losses it made investing our CPF monies.
So why is the govmin trying to raise the retirement age and wanting people to work beyond retirement? Better for S’poreans to retire early and die before they reach their annuity age?
What say you, SDP?
*The increase in CPF payments will cost companies an additional S$190 million a year, the finance minister said. But, the government will spend about S$470 million annually for the next five years to subsidise the hiring of about 80% of workers aged above 50, he said.