Here is an example of wasteful and unnecessary charges being added to the high cost of living. http://www.todayonline.com/Voices/EDC120125-0000006/Extra-charges-on-Medisave-withdrawals-should-be-waived
I retired from NTUC Income on 28 February 2007, after heading this cooperative for 30 years. I now run a consultancy company. See www.tankinlian.com. I write this blog to give my views on insurance, investment and financial planning for the benefit of consumers. You can contact me at kinlian@gmail.com.
Wednesday, January 25, 2012
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2 comments:
i have been paying $3.5 per transaction regardless of the total amount of the bill.in order to reduce this ridiculous fees, i choose to pay cash if the bill amount is small.(eg. it will derived to 7% if the amount is $50).this is absurd and ridiculous since you are withdrawing from your own medisave account.
Never take what the government says at face value. Let's look at the PCPS, now called CHAS.
When I first looked at the criteria for PCPS, I could not believe that for the 2nd category for a different coloured card, there was no limitation for type of housing. The 1st, for the blue card had $13000 limit. For once I thought the government was thinking of the retirees living in private houses, whose medical cost would escalate due to ageing.
Then when there was a name change from PCPS to CHAS, supposedly to reflect the service better, I suspected something was amiss. True enough, there was no longer the 2nd category. The $13k limit was for all applications.
Was there any apology for those who applied? NEVER! Was there an explanation for the change of criteria? NEVER! Just a line to say you are not eligible.
Can you trust such a government?
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