There is no Singapore Dream

A colleague of mine recently bought a HDB 5-Room flat in Punggol. The price is a cool $500k.

Imagine, you graduate from the University at the age of 25 and join the work force immediately upon graduation.

Under our present labour law, retirement age is 62 years. I shall give you a bonus of another 3 years, ie, retirement age raised to 65 years instead.

From age 25 till 65 years, you would have worked a total of 40 years (assuming no retrenchment).

Assuming you pay $1000/ per month from your CPF for your flat priced at $500K. After one year,the amount would be $12K. Ten years, would give you $120K.

For 40 years, it would be $480K (4 X $120K). In other at age 65 (Retirement), you still are in arrears of $20K for the HDB flat priced at $500K. Here,we have not mentioned the minimum CPF sum of $139K presently.

I would further like to add that this minimum CPF sum is not static. Each time when the PAP is return to power in each GE, the minimum CPF sum would also increase. By and large, this amount have been steady increased to a rate of $10K with each GE.

So, in short on your retirement day, 2 things would be waiting for you:
1) HDB Flat arrears of $20K and
2) Insufficient fund in your CPF account to meet the minimum sum

So, this is the Singapore Dream or Nightmare that is awaiting for most of us.


(1) How many of our fellow Singaporean is able to live up to 90 years of age or 100 years of age ?

(2) If yo retire at 62 years of age, how many more years you reckon you are able to live ?

(3) How many of us would be physically and mentally fit to work beyond the retirement age of 62 ?

(4) Last but not least, how many EMPLOYERS including the Government is WILLING to continue employing our Senior Workers without asking them to take too much a drastic cut from their last drawn pay ?

(5) So, PLEASE WAKE UP. In Singapore, YOU cannot afford to dream !


* Comment first appeared in: The unhappy young and their broken Singapore Dream

Author: Gilbert Tan TS

IT expert with more than 20 years experience in Multiple OS, Security, Data & Internet , Interests include AI and Big Data, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader. I am capable of finding any answers in the world you want as long as there are reports available online for me to do my own research to bring you closest to all the unsolved mysteries in this world, because I can find all the paths to the Truth, and what the Future holds. All I need is to observe, test and probe to research on anything I want, what you need to do will take months to achieve, all I need is a few hours.​

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