Manpower Minister Ng Eng Hen has assured Singaporeans that flexibility will be the key in devising the longevity insurance plan. Commenting on Senior Minister Goh Chok Tong's suggestion that some may want to start earlier at the age of 80, Dr Ng said the scheme ought to give Singaporeans what they want.
He has asked the National Longevity Insurance Committee, chaired by Professor Lim Pin, to provide a scheme which allows different Singaporeans options to suit their needs.
Dr Ng was speaking to the media at the launch of the Tourism Manpower Development Plan on Thursday morning.
The Manpower Minister said: "We should allow choices because people have different needs. The basic idea that we want is to make sure people have enough (savings to last) for as long as they live. But none of us know how long we will live, so that's a difficult part.
"Some people think they need this insurance earlier and they want to start at 80 as Senior Minister (Goh) has said. Some may even want to start at 75. Others think they need this less, so they don't mind 85... I think it's possible to allow all these options. - CNA /ls
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