SGEP has a few articles about the minimum wage. So people say "it is not the best solution". Of course, it is true - that it is not perfect. But, it is the best of all available solutions - that is why so many countries have adopted it, including Australia (remember - they were able to achieve an increase in fertility rate, compared to the decline in Singapore's fertility rate).
Read the continuing discussion in SGEP: http://www.easyapps.sg/sgep/latest.aspx
Friday, February 4, 2011
Increasing the fertility rate - Australian experience
SGEP has an interesting article (from Today paper) on how Australia was able to increase its fertility rate to 1.0 (from 1.7) while Singapore continued to suffer a decline in the fertility rate. It analyses the difference in approach of Australia and Singapore.
We have often been quite proud (some people say that we are arrogant) about the Singapore approach - so here is an example of one approach that has failed quite badly. We need to be able to respond more positively to the facts (i.e. be pragmatic) and not dogmatic about our approach.
One important quality of Singapore is pragmatism. It seemed to have been abandoned when it come to "baby bonus" and fertility rate.
Tan Kin Lian
http://www.todayonline.com/Hotnews/EDC110205-0000138/More-babies,-but-was-it-the-bonus?
We have often been quite proud (some people say that we are arrogant) about the Singapore approach - so here is an example of one approach that has failed quite badly. We need to be able to respond more positively to the facts (i.e. be pragmatic) and not dogmatic about our approach.
One important quality of Singapore is pragmatism. It seemed to have been abandoned when it come to "baby bonus" and fertility rate.
Tan Kin Lian
http://www.todayonline.com/Hotnews/EDC110205-0000138/More-babies,-but-was-it-the-bonus?
Family Life 1.1 is now launched
Family Life 1.1. is now ready to be played. The link can be found at http://projects.easyapps.sg/fl/
You can login and click on "Guide" to learn:
You can login and click on "Guide" to learn:
- How to register, login and play a game.
- Strategy to win in Family Life
- Compete with your friends.
Try it. It is fun. A new version 1.2 will be introduced by 1 March 2011. It will have a significant improvement.
Tan Kin Lian
Video on Family Life
Tan Kin Lian
Video on Family Life
FISCA Talks
Many people have lost a lot of money on structured products. New structured products are being introduced and more people will be snared in the future. To understand what are good and bad products, you should attend the talk by a risk management expert, Paula Tan. The talk is on 19 February. Details are available in www.fisca.sg/events.
I am giving a talk on financial planning on 26 February. This is specially suited for young people, to avoid being conned into buying a poor life insurance policy. Register at www.fisca.sg/events.
My new book, "Get Value on your life insurance" will be available on sale to participants at $8 (usual price $12). You can buy several copies to give to your friends. I will sign a copy.
I am giving a talk on financial planning on 26 February. This is specially suited for young people, to avoid being conned into buying a poor life insurance policy. Register at www.fisca.sg/events.
My new book, "Get Value on your life insurance" will be available on sale to participants at $8 (usual price $12). You can buy several copies to give to your friends. I will sign a copy.
Consumer Protection & Fair Trading Act (CPFTA)
The CPFTA now applies to financial services. Many financial advisers may be guilty of infringing on the provisions of CPFTA and may be providing misleading information to the consumers, especially in the form of verbal representations. If the consumer is able to provide evidence of the representations, they will be able to get the financial adviser to be charged for infringement of the CPFTA.
www.tankinlian.com
http://tankinlian.com/admin/file.aspx?id=384
Read the article shown above. You can share your personal experiences on how you were misled by the fianncial adviser and get a lawyer to see if you can have a case to bring the financial adviser to court for infringing the CPFTA.
www.tankinlian.com
http://tankinlian.com/admin/file.aspx?id=384
Read the article shown above. You can share your personal experiences on how you were misled by the fianncial adviser and get a lawyer to see if you can have a case to bring the financial adviser to court for infringing the CPFTA.
Behavior like a thief [2]
I wish to share this personal experience. I was given an infinite credit card as a special privilege with fee waived for 5 years. I was not told about the annual fee and I did not keep track of the expiry of this waiver period. I authorized the amount due to be deducted from my bank account by GIRO (as I wish to avoid the exorbitant late payment charge).
As I received "tons" of letters in my mailbox, it was difficult for me to keep track of all the statements and letters. One day, I checked my past statements and found, to my shock, that an annual fee of $1,500 for the renewal of the annual fee. The bank did not call me to check if I wish to renew the card and pay this exorbitant fee.
I called their call center. Before I could tell them my issue, the call center staff offered to refund my annual fee, as he noticed that I have a lot of spending on the card. Is this the behavior of a thief - to levy a large annual fee and hope that the customer does not notice it? If they knew that I had sufficient spending for the waiver of the fee, why charged the fee in the first place?
I just went to the website of the bank to see if the annual fee for this card is stated. I was NOT able to find the annual fee, after searching through a few webpages. I got a lot of other information about the benefits offers, but NO INFORMATION about the annual fee. I had to get to the call center to get this information from the staff. I deplore this type of behavior - make it difficult for the customer to know the fee and levy it on the customer when he is not aware about it.
I have just written to the bank to give specific instructions that they are NOT to renew my credit card without my specific approval of the annual fee. We are dealing with people who behaves like thieves!.
Tan Kin Lian
As I received "tons" of letters in my mailbox, it was difficult for me to keep track of all the statements and letters. One day, I checked my past statements and found, to my shock, that an annual fee of $1,500 for the renewal of the annual fee. The bank did not call me to check if I wish to renew the card and pay this exorbitant fee.
I called their call center. Before I could tell them my issue, the call center staff offered to refund my annual fee, as he noticed that I have a lot of spending on the card. Is this the behavior of a thief - to levy a large annual fee and hope that the customer does not notice it? If they knew that I had sufficient spending for the waiver of the fee, why charged the fee in the first place?
I just went to the website of the bank to see if the annual fee for this card is stated. I was NOT able to find the annual fee, after searching through a few webpages. I got a lot of other information about the benefits offers, but NO INFORMATION about the annual fee. I had to get to the call center to get this information from the staff. I deplore this type of behavior - make it difficult for the customer to know the fee and levy it on the customer when he is not aware about it.
I have just written to the bank to give specific instructions that they are NOT to renew my credit card without my specific approval of the annual fee. We are dealing with people who behaves like thieves!.
Tan Kin Lian
Tangram and Shape Quiz puzzles
I am giving a talk on tangram and shape puzzles at Tampines Library on 19 March 3 pm to 4.30 pm. Keep the date free. Details can be found at NLB website soon. Attendance is free.
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