Tuesday, August 14, 2018

A broken down system

The ordinary worker and his employer contribute about 40% of salary towards health care, unemployment benefit and retirement pension.

The ordinary worker in Singapore and his contribute contribute a similar amount, but most of it goes towards a property. There is nothing for unemployment, inadequate income for retirement and a need to copay in cash for health care.

The property will decay and have zero value at the end of 99 years.

The German system is better than the lopsided Singapore system in taking care of the need of workers. We have a broken down system.


Anonymous said...

The question is WHY??

Anonymous said...

So the bank can provide loans and earn billions??

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