Message to the Government: Cut out the cruel approach and work on the good news
Tan Sai Siong
CPF Changes should be a celebration of long life not an antidote to the ills of longveity
I THINK the Government's use of longevity insurance as a shield against the prospect of more Singaporeans living longer isn't packaged to attract the sort of buy-in which the substance of the wise move deserves.
After all, insurance is against bad things that might happen, such as catastrophic illnesses, accidents, untimely deaths, and so on.
But longevity is a blessing and a much-valued extension of time on earth, to be embraced with relief and gratitude.
Immortality, or at least longevity, has been sought by sages through the ages, from China to Greece and Egypt, using philosopher stones, lingzhi (the mushroom of immortality) and every trick or treat available to human imagination.
So, Singapore should be jumping for joy to know that those aged 60 now stand a 1-in-2 chance of living to 85 and beyond. Obviously, the chances for those not yet 60 may be even better. But why isn't our Government treating this as a feat to be celebrated, perhaps even designating Jan 1 to be Longevity Day, with fireworks and a Longevity Parade?
Instead, the official line is now making longevity tantamount to a calamity that needs alleviation through a contentious compulsory insurance scheme. Maybe it's true that the good die young but there's no need to make it a bad scene for those slated to die old. I am 63 and find the longevity news most welcome.
So, please cut the cruel approach for now and concentrate on the good news. What does an extra 20/25 years mean, especially if you are in my age group?
It's not just about possibilities. The probabilities are very good too that a new life begun at 60 can be very fruitful, when there's a future measuring two-and-a-half decades to support it.
Think of the family with whom we always say we don't spend enough time. Now, these extra years give us what we've always wanted, more time to be with our loved ones.
Think of the new friendships and relationships that can be initiated and enjoyed, with all that time for them to blossom. With the new life span, we have the luxury to also salvage faded ties from those worth salvaging.
"Too late" are words to be outlawed from our vocabulary. Think of the new careers, jobs, colleagues, perhaps even a new venture: All have become more accessible and feasible; the extra time to stand, stare and experiment with no need to worry about "time's winged chariot hurrying near".
There is so much world and we've the extra time to explore the space and the places.
With the pace of change accelerating, the extra 20/25 years could in effect mean 40/50 more years, as measured by the pace known to our parents and grandparents. Longevity means an effective extension of life by two generations!
Isn't that worth rejoicing about, especially when our home is Singapore and there is so much ahead, as we read almost daily in the newspapers, hear on the radio, see on TV and, even as we go about our daily lives, witnessing big changes afoot: New landmarks created, old ones enhanced.
Longevity gives us this unsurpassable opportunity to savour an increasingly gentler but more vibrant Singapore. Or, if Singapore gets on your nerves, there is time enough to explore alternatives.
Never mind that we didn't have the guts when we were 30, 40 or 50. At 60, with another quarter of our life still ahead, there's time aplenty to mistake a mirage for an oasis and yet make it back again to the safety of this our home before sunset.
The nation at large should rejoice at this longevity too. Qualified, experienced manpower can contribute for longer. Less-qualified manpower and those who have never been qualified at all become worthwhile to train or retrain, because there're vast streams of payback time for them in this age of longevity.
So, I say to our Government: By all means throw in the extra 1 per cent for all CPF members but as a celebration of long life, not as an antidote to ward off the ills of longevity. And for those like me who have already used our minimum sum to buy an annuity, let us have that 1 per cent to top up our annuity, rather than make us buy an extra one.
Better still, let us fritter it away anyway we want, as a reward to early adopters of annuities and to incentivise those who haven't committed their minimum sum to annuities to do so.
The message from the Government should be the benefits of annuities for long-lifers, not the ills of growing old, sick and penniless.
Tan Sai Siong is an ex-journalist and was the first editor of The Business Times. of The Business Times.
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