This article contains some tips on how consumers can approach critical illness insurance. Consumers should pay a small premium to cover the small risk of critical illness at the young ages and invest the savings in a low cost fund. The accumulated savings after 20 or 30 years will be more than sufficient to pay for the cost of treatment or loss of income, if a critical illness occurs at an older age.
Tuesday, July 26, 2011
Case Studies | Web Design Dublin
Web design Dublin has created many successful websites for clients worldwide and it may be instructive and helpful to take a look at some of the small businesses who have benefited from our services.
It is important to note that our websites are focused on a handful of key factors for our clients. These factors are NOT fancy design or an attractive looking site to which we can send our family and friends.
Insight into Tan Kin Lian
This article writes about the history and values of Tan Kin Lian.
http://alexbinich.blogspot.com/2007/03/lord-of-dance.html
http://alexbinich.blogspot.com/2007/03/lord-of-dance.html
How to choose your best President
An interesting story by the author of "Wisdom on How to Live Life"
Monday, July 25, 2011
Statement by Tan Kin Lian – Ensure CPF savings are secure and adequate for retirement needs
A primary role of the President is to safeguard the past reserves of the country. A large part of the reserves represent the savings of Singaporeans in the Central Provident Fund.
Many Singaporeans have expressed concern about the security of their CPF savings when, from time to time, they hear about the large losses incurred by Temasek Holdings, Government of Singapore Investment Company (GIC) or the Monetary Authority of Singapore (MAS) in their investments. Just a few days ago, MAS reported a loss of $10.9 billion during the past year.
There is a need to inform and educate Singaporeans about the long term nature of the investments and to give them the assurance that the investments are made prudently. This is especially relevant, given the occasional newspaper reports of money from the reserves being invested in foreign companies which report larges losses and go to the brink of bankruptcy. Some of these foreign companies are not well known and have a risk profile that appears to be very high.
A President, who has the financial knowledge and expertise, and backed by a panel of investment experts, can play a useful role in keeping an oversight over the investment policy. As a trusted, independent person, the President can give the assurance that Singaporeans are looking for about the security of their CPF savings.
The CPF savings represent the hard work of Singaporeans made over several decades. They depend on their CPF savings to take care of their financial needs during retirement, to pay for the cost of living and their medical expenses in old age.
Many Singaporeans have found that, in spite of the frugality and savings habit, they still do not have sufficient savings when they reach the retirement age. They have expressed the view that the CPF scheme is not working to their benefit.
I wish to echo their views and call on the Government to review the operations of the Central Provident Fund and implement changes to achieve the following goals:
I call on the Government to from a panel with representation from all segments of the people to carry out this review and that the review should be carried out in a transparent manner, so as to gain the trust of Singaporeans.
Tan Kin Lian
Many Singaporeans have expressed concern about the security of their CPF savings when, from time to time, they hear about the large losses incurred by Temasek Holdings, Government of Singapore Investment Company (GIC) or the Monetary Authority of Singapore (MAS) in their investments. Just a few days ago, MAS reported a loss of $10.9 billion during the past year.
There is a need to inform and educate Singaporeans about the long term nature of the investments and to give them the assurance that the investments are made prudently. This is especially relevant, given the occasional newspaper reports of money from the reserves being invested in foreign companies which report larges losses and go to the brink of bankruptcy. Some of these foreign companies are not well known and have a risk profile that appears to be very high.
A President, who has the financial knowledge and expertise, and backed by a panel of investment experts, can play a useful role in keeping an oversight over the investment policy. As a trusted, independent person, the President can give the assurance that Singaporeans are looking for about the security of their CPF savings.
The CPF savings represent the hard work of Singaporeans made over several decades. They depend on their CPF savings to take care of their financial needs during retirement, to pay for the cost of living and their medical expenses in old age.
Many Singaporeans have found that, in spite of the frugality and savings habit, they still do not have sufficient savings when they reach the retirement age. They have expressed the view that the CPF scheme is not working to their benefit.
I wish to echo their views and call on the Government to review the operations of the Central Provident Fund and implement changes to achieve the following goals:
- Ensure that the CPF is able to provide an investment yield that is higher than the rate of inflation
- Ensure that CPF members have adequate savings for their retirement needs (after paying off the cost of a modest HDB flat)
- Review the contribution rate of older workers to allow our workers to build up adequate savings for retirement.
- Improve transparency and communication, to assure the people that that their CPF savings are being invested prudently.
- Allow partial withdrawals of CPF savings to meet financial needs of people who have lost their jobs due to factors beyond their control.
- Review the use of CPF savings for tertiary education, to see if the scope can be widened
I call on the Government to from a panel with representation from all segments of the people to carry out this review and that the review should be carried out in a transparent manner, so as to gain the trust of Singaporeans.
Tan Kin Lian
Long term yield on GIC portfolio
GIC reported a 10 year and 20 year yield on their portfolio of 7.4% and 7.2% respectively in USD. I wonder what the yield would have been, if converted to SGD. We know that the USD has depreciated significantly during this period.
I am encouraged by this statement: "GIC's real rate of return in excess of global inflation over the past 20 years -- its main benchmark -- was 3.9 percent as at end-March 2011, up from 3.8 percent at end-March 2010."
However, it might be better if the yield is converted to SGD and the real return is computed net of inflation in Singapore.
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