Even More Reflections On The NDR Speech

Not The Full Story
I didn't get to watch and listen to the National Day Rally Speech.

The sources I got were from the national newspaper and its internet counterpart. The reports were not the full text of the speech.

So I got the news in dribs and drabs over a couple of days till today for instance.

I couldn't download ITunes so I couldn't watch the podcasts.

Why Start Paying So Early When You Don't Even Have An Inkling What Age You Will Live Up To
Today I read that those aged 50 and below will, upon reaching 55, purchase an annuity to be paid for from the minimum sum. Thereafter, at age 65, a reduced payout (because of this deduction for the annuity) from this sum will apply for 20 years and at age 85, this annuity kicks in to pay the retiree a stipend until he dies.

Question now is: how much of the minimum sum will be used to purchase the annuity and I suppose it is only once-off. How will this then affect the sum of payout at age 65?

I totally agree that the tail-end concept should apply from age 85. But why start paying at age 55 ? It is a full 30 years and nobody knows what will happen in this time period. Why not a 5-year review time frame.

As I have said before, there should be a number of years lapse, before the drawee can decide if he needs that annuity. Then he purchases it.

Let him decide.

No HIP But Only NRP
Certainly, looking at the age of the estate where I will likely make a purchase for my future home, I will not qualify for the Home Improvement Program.

But yes, the estate does come under the Estate Renewal Program.

For My Other Half And For Posterity
Truly, I hope I don't ever have to go on the "buy-back lease" program for my housing asset. It is the last piece of inheritance I want to will to my beau and/or kid.

Time For A Total Recall?
6 months into using my HP lappy and operating on Vista, its price has dropped a full 1K and the manufacturer has turned it into a student's edition.

Apart from the Internet connection glitches, there were episodes of hardware malfunctions.

I have noticed a thick yellow vertical line running down its screen sometimes when I power it on. Not to mention on several occasions, the screen just won't start up and I get on a DOS screen, a black screen with text on it. Prolly only because it shuts down every time my battery went flat.

And I can never log off because the screen hangs. I have to shut down all the time. Once there was a prompt of a system crash. And just the other day, it won't power on at all. It went totally dead.

Another foreboding of a Made-In-China product?

Back To Ma Old Self And Ma Old Exercise Routine
I have been laying off exercises for the past three weeks and I feel absolutely lousy and lethargic.

I just wanna get this cough and cold bug off me and go back to my regular regime of exercises.

This Old Man, He Played Seven
Tonight I met that same old man who brushed moi off when I enquired about his investments some time back.

I had taken his seat because he had gone off for dinner and when he returned, I offered to share the one power-point within distance with him since I had an adapter.

At first, I was taken aback by the rapid-fire exchange we had over our lappies.

He was right on many accounts of course. After all, my screen was 12.1 inches and yes, it can be strenuous on the eyes with print squeezed so compactly. But the font plays a part too. And yes again, I had got my Norton Anti-Virus free from the first Vendor I tried buying my lappy from.

If you remember my earlier blogs, that is.

I cannot fault him for many of the things he was saying. But his set of problems were of course, uniquely different from mine.

For me, it was the compatibility issues at first with Vista, then Internet connection problems and finally now I think it could even be the hardware itself.

We had a second exchange and this was more cordial. He recounted financial and property market conditions and this was quite interesting.

Full NDR Speech Text Available Here
After I had blogged all the above and I headed off for another WIFI spot, I came across the full text of the NDR Speech on the CPF Board's website.

The picture is clearer but of course, I would like to know when there is reference to the retirement account, does this mean the minimum sum which sets in after age 55?

More blogs on this tomorrow. Possibly.