I suggest that the CPF system should be streamlined and simplified as follows:
a) The rate of CPF contribution should be uniform for all workers, and should not vary according to age. For example, it should be 20% of wages for workers and employers
b) Contribution for workers above age 55 should be voluntary.
The current system of CPF contribution is complicated and difficult for employers and workers to plan.
We should return to a uniform contribution rate that applied when the CPF system was first started.
Agree or not?
2 comments:
The thicker the information, and trying to understand them is the key to show the good incentives people are receiving.
A customer went to a meat shop. He saw a type on meat going for buy 2 pieces, with 1 free.
He told the butcher he wanted 9 pieces. (meaning 6 with 3 free)
He paid for it thinking that the butcher had weighed 6 pieces, got the price before adding the 3 free together. (only one packing.)
Two days later, liking the taste of the meat, the customer went back for the same promotion.
A different butcher attended to him. He was told he needed to buy 10 to get 5 free. 9 means 4 and a half piece free.
Sounds good. He loves the meat anyway.
Being a man, and not liking the hassle of the going round in a circle, he paid for the items. This time he received 2 packings. One pack with 10 pieces of meat with a price on it and another pack with a 5 piece price with free marked on it.
A few days later, his wife questioned him why it was the same meat, but not the same calculations.
She took the two receipts back to the store. ( luckily he still had them in his wallet)
She showed the boss. The first receipt had only one price (9 pieces). The second one had two prices add on(10 plus 5), with the price of the free 5 pieces minus off after, ended with only paying for 10 pieces.
The boss went to check with the butcher. His answer was they priced the meat by weight, not by pieces?????????????? Hello, the size of the meat was about the same and there couldn't be a new weighing scale in a difference of two days.
If only the machine could just minus 33% of the total?????? At the end of it all, the man realised whether if he paid for 6 or 9 pieces of Wariba Organic meat. The first 9 pieces, price cost average $12 and the second 15 pieces average(subsidized) $8.50.(-_-)
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