How to use Facecard

Facecard is now ready for you to register and use. But first, you have to watch this video.
http://youtu.be/LkwTL5oLHvc

Finnland's welfare system works

Finnland has a better approach than USA or Singapore
http://www.theatlantic.com/international/archive/2013/07/the-secret-to-finlands-success-with-schools-moms-kids-and-everything/277699/?single_page=true

RUBY Accounting Software

This PDF book, which describes a simple accounting system for a small business, is provided fee now. I hope to get feedback from accounting students and practicing accountants. 
http://tklcloud.com/pdfbook/35

HOW TO DEVELOP COMMON SENSE

1. Start with learning how to think; don't just follow other people blindly. 
2. In any situation, evaluate the chance and severity of an event; don't just say "security is of utmost important", "no tolerance for failure", etc. 
3. Ask - what would most common people do in a situation like this? That is the "common sense".

 Common sense is defined by Merriam-Webster as, "sound and prudent judgment based on a simple perception of the situation or facts."
Thus, "common sense" (in this view) equates to the knowledge and experience which most people already have, or which the person using the term believes that they do or should have. 
The Cambridge Dictionary defines it as, "the basic level of practical knowledge and judgment that we all need to help us live in a reasonable and safe way"

TKL books at a discount

You can buy these books at a discount in TKL's office and also save on the handling charge of $3.
http://tankinlian.com/admin/file.aspx?id=843&IID=850

Allow other forms of cashless payment

Published in Straits Times Online.

THERE is an ongoing dispute between taxi companies and Visa over the 10 per cent surcharge for fares paid with Visa cards ("Two more cab firms to no longer accept Visa"; last Saturday).

The withdrawal of Visa card payments will make it inconvenient for many commuters.

It would be fair for them to pay a small fee for the service, but the 10 per cent surcharge appears rather high.

Singapore has introduced platforms for payment through CashCards and ez-link cards. Surely, these could be used instead?

As they are pre-paid cards, there is no credit risk.

There is still a cost incurred to operate the platform, but this should be quite low and could be easily absorbed by the taxi companies.

This form of payment can also be used for online purchases, for example, air tickets for budget airlines.

Perhaps the key issue is in deciding on a fair charge where many parties are involved, namely, the public, businesses, banks and platform operators.

I suggest that the Monetary Authority of Singapore take the lead in this matter.

Tan Kin Lian
President
Financial Services Consumer Association
www.fisca.sg

Facecard to be launched on 1 August 2013

Bad customer service of Tiger Air

Dear Tan,

I have a complaint to make about Tiger Airways and wonder if you can advise me as to the relevant official agency in Singapore for this?

My wife and I have booked and purchased a round-trip from Singapore* to Bali at the end of the year and without my knowledge, agreement or wish Tiger Airways included an insurance policy in the price! I wrote to them immediately after the tickets were issued and I discovered the unwanted insurance, Have written to them and, after several reminders, they refuse to do anything. Don't really care about the money (SGD 60) but angry about the principle.

REPLY

I do not know the people of Tiger Air personally. They are a subsidiary of Singapore Airlines. 

I also feel quite annoyed at the bad business practice of the airline (to push expensive travel insurance to their customers). It is also very bad that they don't reply to their customers. 

I have made complaints on other issues to government ministers and they don't reply to me. So, I send them a reminder and asked them to reply. 

Financial Planning for Young People

Financial Planning for Young People.
This new PDF book is now on offer at a special price of $4, for a limited period only. It contains a Test of Financial Awareness, to help in the understanding of the concepts.
http://tklcloud.com/pdfbook/33 

TradeStock app

Here is a revised brochure for the TradeStock app. 
This mobile app allows you to practice trading in stocks and currencies. It simulates the price movement of a stock according to random factors and an underlying bull or bear trend. You will learn how to detect the underlying trend and trade profitably.|
http://tankinlian.com/admin/file.aspx?id=841&IID=848

Test your financial awareness

Are you financially aware?

Do this test and check your score. The answers are given on the last page.

Be financially aware, so that you can earn a better return on your savings, and be financially sound. Do not let other people take away the return that should go to you, for your hard work.

This test is FREE.

http://tklcloud.com/pdfbook/32

TradeStock

TradeStock
This mobile app allows you to practice trading in stocks and currencies. It simulates the price movement of a stock according to random factors and an underlying bull or bear trend. You will learn how to detect the underlying trend and trade profitably.
http://tankinlian.com/admin/file.aspx?id=841&IID=848

This app will be available in August. This is just a preliminary announcement.

Vacancies in TKL Associates

I have vacancies for these two positions

Administrative Asst
http://tklcloud.com/recruit/5

Senior Software Developer
http://tklcloud.com/recruit/7

Closing Date: 20 July 2013

Interview Questions

Questions are posed by a student doing a project. The answers are given by Tan Kin Lian.

1. Do you think young adults are able to manage their money well?

Answer: Most young adults are not able to manage their money well. They do not know the fundamentals of budgeting, the importance of savings, and do not know how to make the right types of investments.

2. What are some on-going activities available for young adults on money management?

Answer: They can attend talks on financial literacy conducted by community centers and government agencies. However, they should be wary about talks that are conducted by representatives from financial institutions, as these speakers are reluctant to tell consumers how to different between good and bad financial products. The financial institution can make a better profit margin from the bad products. It is better for consumers to attend talks conducted by pro-consumer organizations.

3. To what extent are parents and schools responsible for money management issues among young adults?

Answer: Parents and schools should provide guidance to the young adults on the suitable educational talks and books on financial management. However, if the parents and teachers are ignorant themselves, they would not be able to provide the right guidance.

4. Are there any schemes for children to start saving from young? If yes, what are they? If no, what are some possible schemes that can be implemented?

Answer: The problem about saving is that the interest rate paid on savings is extremely low and is lower than the rate of inflation. In this environment, it is difficult for children and young adults to be interested in saving, as they find that their savings are eaten away by inflation. It is important for the government to provide bonds that can give a better return than inflation rate, so that people find it attractive to save. The government has to play a role here.

5. Do you think that counselling is an effective solution to solve the problem of young adults overspending? Why or why not?

Answer: It is more important to educate young people about budgeting, saving and spending, and the high interest rate charged on credit card and other borrowings. If the young people are aware about these fundamentals, they will be more willing to save. There are a few websites that are written by pro-consumer writers. The young people should be introduced to these websites.

Do first, instead of asking

Over the years, I have observed a common habit among many Singaporeans, especially the younger ones - they ask before they think.

Even when fairly complete instructions were given to them, they ask for detailed instructions on every step. I described it as "lack of initiative" or "common sense".

This is probably due to our education system, which focused on examination and the drive to get 100% score.

I wish to share two wise sayings from ancient times:
- When you don't know what to do, the doing will tell you
- Seek not to find the answer, but to understand the question.

I often give this advice to young people. You only need to know the important things. You can start to do what you know. The parts that you do not know will be clearer to you after some time - by then, you may know the answer, or may be able to ask more focused questions.

I hope that this tip will be useful to guide young people on addressing the uncertainties that they face in their jobs and in life.

DBS Ideal 3 - a starter's guide

I have published a new PDF book called "DBS Ideal 3 - a starter guide". It gives tips to corporate customers of DBS bank on how to use Ideal 3 easily, 
This book is free for the time being. Hope you enjoy it. It takes 30 minutes to read. 

http://tklcloud.com/pdfbook/31

Cleaning of hawker center in Aljunied

Read my views and the comments of other readers on this "petty issue"
https://www.facebook.com/kinlian/posts/503209903085000

DBS Ideal 3 - my journey

I have published a new PDF book called "DBS Ideal 3 - my journey". This talks about my experience in using internet banking for my corporate account. It also contains some tips to make the learning curve easier for corporate customers of DBS who moves to this new platform.
My difficulty with this internet platform reflects my general experience with websites designed by large organizations in Singapore. They follow a style that I can describe as "confusing". Someone, this seems to be a corporate culture, which seem to lack common sense.
This book is free for the time being. Hope you enjoy it. It takes 30 minutes to read.
http://tklcloud.com/pdfbook/31

Case study - file a claim for medical incapacity

Someone asked me for help to lodge a medical incapacity claim under the Dependent Protection Insurance Scheme. He thought that I was an expert and should know if his medical condition qualified for the claim. 

I first have to seek the definition of the coverage. After searching the websites of MOM, CPF and the insurer, I found that it is defined as "physically/ mentally incapacitated and unable to find work" as certified by a doctor.

He is reluctant to incur an expense of $150 to pay the doctor to provide a report, only to find the claim rejected by the insurer. He asked if his condition is likely to be approved - which I do not have the answer.

I helped him to write a personal statement showing his employment history and medical treatment over the past ten years. He had tried and was able to work for less than a year at the beginning. He was largely unemployed for the last 8 years. Nobody would employ him, due to his mental condition.

I asked him to show the personal statement to the doctor and ask if he can certify that his is incapacitated from working. If so, the doctor can write the statement. He can submit his personal statement, and the doctor statement to make a claim.

I am not using my knowledge as an insurance expert. I am only using my common sense and the general knowledge that is available to any educated person.

I urge Singaporeans to have the self confidence in your own ability and to learn how to think clearly and write clearly, so that your point of view can be understood by other people.

DPIS - making a disability claim

A policyholder sought my advice on whether he is eligible to make a permanent disability claim under the DPIS as he had been suffering from a mental disorder that made it difficult for him to work for more than 10 years. Here is my advice.
http://tankinlian.com/admin/file.aspx?id=840&IID=847

Improve your skill in stock trading

Improve your skill of predicting the up and down of the stock market with Color Pick.
http://tankinlian.com/admin/file.aspx?id=839&IID=846

Mis-selling of ILAS (similar to ILP) in Hong Kong

LAS in Hong Kong is the same as ILP in Sigapore. The consumers in Hong Kong are angry that these products are being mis-sold to them. 
http://www.scmp.com/business/money/investment-products/article/1262327/hong-kong-consumers-angry-after-being-sold

Improve your recruitment

This website helps the recruiting manager to reduce the time taken to recruit the right people.
http://tankinlian.com/admin/file.aspx?id=838&IID=845

Driving Holiday in Malaysia

Driving Holiday in Malaysia
Singapore is a small island and does not provide the space for motorists to enjoy the experience of driving a long distance. 

Malaysia has the space but many Singaporeans are reluctant to drive there, as they are not familiar with the roads and worry about their safety.

A good solution is to join a group driving tour, or motor rally, conducted by an experienced organizer.  Here are two events that may interest you.

Day tour to Johore on Saturday 6 July
http://tklcloud.com/book/69

Free talk/workshop on Driving Holidays on 25 July and 3 August
http://tklcloud.com/book/71

Register early to reserve your place.

Tan Kin Lian

Magic Box

Motivate your child to study and behave well, with the Magic Box. And have fun with your child. Watch them get excited when they earn a star and a reward and put into their magic box.
http://tankinlian.com/admin/file.aspx?id=837&IID=844

Dollar and Sense website

Dear Mr Tan

A quick introduction. I am Timothy, one of the co-founders of DollarsAndSense.sg, a Singapore-focused financial literacy website that aims to be the destination for timely and relevant information on personal finance matters, written especially with the Singaporean readers in mind. 

DollarsAndSense.sg may not be entirely new to you. Back in February, you linked one of our article (which was also published on TRE)onto your blog - http://tankinlian.blogspot.sg/2013/02/unethical-profiteering.html. 

The purpose of our email today is to share with you on more such articles that we have written since - that we believe you might be interested in. If you like, you could feature them on your blog & even provide your insight and/or comments to the articles. We believe that your readers will find them an interesting and relevant read.

Articles

1. http://dollarsandsense.sg/becoming-worlds-richest-at-what-cost/

2.  http://dollarsandsense.sg/singapore-retirement-myths-debunked/

3. http://dollarsandsense.sg/two-cent-rant-just-how-much-should-hello-kitty-singing-bone-cost/

Having been reading your blog since 2008, I believe that we both share a common objective of wanting the general public to be well informed to make the right financial decisions in life. Please feel free to include our website address as part of your "blog partner list". If there are any ways that you feel we could work together, please let us know and we will be glad to discuss on it. 

Please Note: All of the articles that are featured on our websites are written by our own team of writers. Our motivation for doing this is because we believe the awareness level of Singaporean when it comes to financial matters is inadequate. We hope through this site, readers will better appreciate the importance of financial literacy and have a platform to learn more. We are not  "hidden insurance agents" who have sales pitches in mind for our readers :) 

Wishing you a good week ahead! 

Best Regards,
Timothy Ho

Integrity of agents and insurance companies

Dear Mr Tan,

I am reading your blog . I think you are a person with intergrity.

 

I supposed it is not the agent who want to behave wrongly. Is the way the insurance company teach their agent in selling to the market.

 

They use strategy and  incentive to push the agent to sell insurance to their client. Some old agent have to make a living thus they have to sell to fulfill the contract maintenance.

  

Newspaper awards are publicized by the insurer. This create the impression that agents are well to do. This create a lot of future problems as agents only focus on the first year commission used in the measurement. There are a lot of angry clients in the market.

 

The people who train the agent give biased comparison and teach the agent wrongly. They increase the agent's target.  Some old agents suffer and have to sell thing that don’t want.

 

Some insurers measure by life cases and force the agents to sell life insurance only. They internally throw challenge to the agent and force the agent to sell these biased product.

 

The agents are misled the insurer that they are building a franchise. The franchise cannot be sold, so the agents have to work like to hell.

  

We should stop pushing the blame to the agent. The insurer play a big part and is the party that  give the information , instruction, strategy and compensation plan. The agent has to follow.

 

Can we look at a bigger picture and talk about the insurer as they are the root of the problem rather on the agent. 

Recently, the commission has been cut. Newer agents have problem to enter the market and pass the examination. In the future, we will be left with old agents and brokers. I supposed more problem will occur.

 

Agents have to lead a poor lifestyle and need to tune to the timetable of the client every day. In the long run, they are promised nothing by the insurer - no retirement plan and regulatory changes. The problem is faced by older agents who have to take more examinations. 

We have to look into the welfare of the agents.  They are not protected by any party and cannot turn to the Ministry of Manpower if they have any problem.

 

REPLY

What you have described applies to half of the agents, who are forced by circumstances or ignorance to sell products that are bad for customers.

But, after some time, these agents become aware. Some continue to sell the bad products to earn the good income or even to become the trainers and to recruit other people. Their integrity becomes questionable.

Other agents decide to leave the industry or opt to see the good products that are fair to customers. These agents have the integrity and interest of their customers. There are many of them.

The insurance companies should review their operation and offer products that are fair to customers. If they design bad products, their integrity is questionable. . 

Sell essential items at controlled prices

22 June 2013

Editor, Forum Page

Straits Times

The recent scramble for the N95 masks and the steep

increase in price reveals the need for the Government to 

be prepared for future emergencies.

I suggest a procedure be in place to provide essential 

items at controlled prices during an emergency. It may be

the N95 mask today, but it could be other items in the

future.

The steps could include:

• The Government sources for the supplies in bulk at
  discounted prices
• Offers these items at controlled prices through the
  appointed retail chains
• Appoint a logistic company to handle the logistics of
  distribution and accounting.

It is better to be prepared to deal with future emergencies.

If funds have to be provided to the citizens, and more funds

for the poor, it can be credited to their bank account. It is better
for the government to register the bank account of
each citizen that can be used for these money credits.

Tan Kin Lian

9A Cactus Crescent
Singapore 573970
Mobile: 81685845
Email: kinlian@gmail.com

Can I claim for sudden loss of hearing under an accident policy?

Dear Mr. Tan, 
Lately, I am suffering from "Sudden Hearing Loss" and I was told by my specialist that there is 1/3 of the chance that the situation will not be recovered. Now, my left ear can barely hear - and there is an ongoing buzzing sound there. 
Can I make a claim under my QBE accidental plan - which stated 25% of the sum assure for one ear hearing loss? I am not sure whether this is consider accident in the insurance term, but certainly it is an accident for me .... just come in sudden and when I am working in the office. 
REPLY
An accident policy usually defines an accident as being "unexpected, forceful, external" and usually excludes impairment due to natural causes. 
From your description, your loss of hearing is likely to be caused by natural causes and not by accident. This claim is not likely to succeed. 
If you want me to read the policy wordings, you have to use my consultancy service. Register at www.tklcloud.com/consult/2

Cars damaged by fallen tress

Richard Goh asked:
Yesterday, a few cars were damaged by fallen trees. Under such circumstances, if the  cars were parked in designated car park lots, can the owners claim from their insurances or the car park management, like URA or HDB or Town Councils. Your advice to all will be appreciated. 

REPLY
 If you want to claim against the car park management, you have to prove that they were negligent. They can easily point out that the trees fell not because of their negligence, but by "an act of God". The claim is not likely to succeed.
The owner can claim for the damage to the cars under their own motor insurance policy.

How is progress towards the National Authentication Framework?

22 June 2013 

Editor, Forum Page
Straits Times

According to the website of the Infocomm Development Authority, the 
National Authentication Framework (NAF) seeks to provide a secure and trusted 
enabling infrastructure for delivery of online services by the public and private 
sectors. 

It will allow consumers to enjoy the convenience of using a single 
authentication device to access multiple online services.
The NAF was targeted to be ready by 2015. How is the progress toward 
achieving this goal?

Instead of using a single device, I now carry three separate devices issued by 
my bank for my personal and corporate accounts. The bank insisted on issuing 
separate devices to me, even though I am the same person who has the 
signing authority.

The bank has also changed their devices a few times.  Its latest devices 

for their personal and corporate accounts have many functions and are quite 

complicated to use.

I am also appalled at the heavy cost of issuing so many tokens, including 
replacements. This must ultimately be borne by consumers.

I understand that my bank has no plans to allow its device to be used its customers 
for authentication to other online services, This is against the goal of the 
NAF. 
I am aware that online banking may require another level of security to prevent 
hacking, but this could be done using some other means, instead of 
building it into an authentication device. 

May I seek the views of the Monetary Authority of Singapore on this matter? Are
they encouraging the banks to adopt the framework or to go their own way?

Tan Kin Lian

Difficulty in submitting e-invoice

21 June 2013

Editor, Forum Page

Straits Times

I thank the Accountant General's office and the Inland Revenue Authority of

Singapore for giving a prompt reply to my issue about the difficulty in 

submitting an e-invoice (Password for e-invoice system a necessary 

safeguard).

They have also contacted me directly to discuss the underlying issues

involved in the government processes. I thank them for their pro-active and

helpful approach.

As an active user of the Internet, I have created hundreds of passwords for

various websites, and in most cases, it has been an easy process. 

I hope that our government agencies find the right approach, to avoid wasting much 

time from the public and their employees providing support to the public.

I also support the online submission of invoices, and will be suggesting to 

these agencies on how the processes can be simplified to provide

the right level of security and convenience. 

We need to adopt a practical approach and recognize that there are vendors 

who transact with the government infrequently, and should not be required to spend so much 

time to go through a big learning curse to submit an invoice.

Tan Kin Lian

Opportunity for long term investor

Dear Mr Tan,
With regards to the recent market turmoil, the market has reacted strongly to the easing of QE by 2014 and possible interest rates hike thereafter, but seems to have forgotten that this easing shows the FED's confident in the recovery of the US economy.

When the selling is done, people may realized that they have over-reacted and bargain hunting may kick in.

For now, the market will continue its free fall due to the outflow of institutional funds to the States and the herd selling mentality by the retail investors.

REPLY
Yes. For the long term investor, the selling gives a good buying opportunity, But the selling may last a few months.

Supplementary Retirement Scheme benefits those above 47 years

This book explains the impact of the Supplementary Retirement Scheme on local employees and foreigners and on workers at different ages and tax brackets. 

The SRS is likely to be beneficial for tax payers contributing at an older age, after age 47 years. 

http://tklcloud.com/pdfbook/25

Allow submission using fill-able PDF forms

I sent my proposal to IRAS to allow tax payers to submit their tax using a fill-able PDF form. 

It is easier for the tax payer to complete this form offline and submit it. The portal can extract the data from the form and send it to the backend system of IRAS for validation, acceptance and processing.

The offline PDF form will be especially helpful for individuals who have rental or other sources of income to complete, or for filing corporate tax accounts. 

I will be discussing this suggestion further with IRAS.

Here is my proposal
http://tankinlian.com/admin/file.aspx?id=836&IID=843

A new version of Facecard

Thank you for participating in the earlier trial of Facecard. We have taken down the current version and will be launching a new version in in July. The new version will require a fresh registration. 

The key features of the new version are:

• Simpler to use
• Allow the user to see the facecard of those nearby (who chose to make it visible) and to exchange cards with them
• Provides mini-iPad or other attractive prizes based on regular contests

I will notify you of the new version when it is ready and invite you to participate in it again.

If you have any existing data that you wish to extract from the current database, please send an e-mail to kinlian@gmail.com.

How to deal with the haze

http://www.tremeritus.com/2013/06/21/tre-reader-gives-advice-on-how-to-deal-with-haze/

The key message is that the haze is not serious to health for most people. I walked outside for 1 hour yesterday, taking bus to a few places. It is hot and haze, but I don't feel that my health is badly impacted due to this short walk. 

A new job portal for Singaporeans

http://mrnewbird.wordpress.com/2013/06/22/a-new-job-portal-for-singaporean/

Is it necessary to have regular fogging during the hazy period?

Hi Mr Tan

I find it puzzling and disappointing that NEA, HIMC or MEWR did not issue any advice, suggestion or restriction as to the necessary adjustment to our daily routine so as not to add to the haze presently choking spore.

 

One point in mind is the regular fogging carried out by pest control company. I am sure these can be suspended temporally since it will definitely add to the haze in spore. 

When PSI is in unhealthy (> 100), very unhealthy (>200) and hazardous (>300) level, I think we do not need to carry out the routine fogging. Spore is like been fogged 24/7 now compliment from our neighbour. I am not expert in mosquito control and dengue may still be a concern but I think the experts in NEA or MEWR should let us know whether we still need to fog when air quality is already so bad. 

Other steps include limiting unnecessary travelling, car pooling, use public transport whenever possible, routine grass cutting, limit incense and routine burning of sacrifice during prayers, smoking etc. The haze from Indonesia we cannot stop but I think we can do more to limit adding to the haze. 

Like in Australia, during  water restrictions when there are droughts, limit are set on watering lawns, using sprinkler systems, washing vehicles, hosing pavement, refilling swimming pools, etc. I think spore should consider similar restriction on non essential activities that will aggravate the already alarming situation.

 

I know the haze is beyond our control but then again I think we could have done better preparing for it when the haze did not choke us so badly. After all haze has been an annual routine and it has been 16 years since it last hit above 200. 

Each public flat in spore comes with a bomb raid shelter. I think the chance of war is spore is definitely more remote than having haze attack. Instead of having air raid shelters would it not be more useful and practical to have places where large group of people or those who do not have the luxury of aircon to go take shelter when PSI hits above 300 or god forbids beyond 400?

 

As for those who think that because we have little control of things happening outside spore and so that provide us with a good alibi or excuse... I would like to refer him to chapter 25 of Machiavelli's The Prince:

 

" IT is not unknown to me how many men have had, and still have, the opinion that the affairs of the world are in such wise governed by fortune and by God that men with their wisdom cannot direct them and that no one can even help them; and because of this they would have us believe that it is not necessary to labour much in affairs, but to let chance govern them. 

This opinion has been more credited in our times because of the great changes in affairs which have been seen, and may still be seen, every day, beyond all human conjecture. Sometimes pondering over this, I am in some degree inclined to their opinion. Nevertheless, not to extinguish our free will, I hold it to be true that Fortune is the arbiter of one-half of our actions, but that she still leaves us to direct the other half, or perhaps a little less.

 

I compare her to one of those raging rivers, which when in flood overflows the plains, sweeping away trees and buildings, bearing away the soil from place to place; everything flies before it, all yield to its violence, without being able in any way to withstand it; and yet, though its nature be such, it does not follow therefore that men, when the weather becomes fair, shall not make provision, both with defences and barriers, in such a manner that, rising again, the waters may pass away by canal, and their force be neither so unrestrained nor so dangerous. So it happens with fortune, who shows her power where valour has not prepared to resist her, and thither she turns her forces where she knows that barriers and defences have not been raised to constrain her."

 

May the haze situation improves sooner rather than later.

Foo

How to find peace in current financial turmoil

In the midst of current financial turmoil, is it possible to find peace? Dr. Tommy Wong, professor turned international author, has written five books on "Wisdom on How to Live Life". In this series of books, Dr. Wong shared spiritual concepts which can be used to find peace irrespective of external happenings. The e-book series can be ordered here, and will be delivered immediately upon payment. May peace be with you!

FISCA Members Get-together 12 July 2013

In a recent survey, several members expressed interest to attend a member's get-together to discuss financial and consumer issues. 

This will be a free format discussion, to be facilitated by our committee member, Victor Lee. Victor is knowledgeable in investments - so you may find the discussion to be interesting.

This event is open to open to members only, and will be FREE. for those who attend. Those who register and do not attend will have to pay $10.

Register now at www.fisca.sg/events. (Members have to login to register)

Use fill-able PDF forms

If ind it very difficult to access the websites of government agencies, such as IRAS, MOM, ACRA, CPF.

Their websites are complicated. They have many layers of links for different categories of users. They have different systems of login. Quite often, I go to the wrong link and access the wrong pages. 

Each agency expects the public to spend hours to be educated about their website. They forget that the public has to deal with dozens of agencies.

I prefer a common login to a central website, where I can download a form or instructions. I can prepare the form offline and submit it to the agency. The form can be designed to be "fill-able" and with inbuilt validation, so that the public can provide the data friendly information to be used by the backend system.

This style, which is used elsewhere, is much easier for the public to use.

The harmful effects of the tender system

Singapore was a low cost country 50 years ago. It became a high cost country over the past 30 years. We are now one of the most expensive countries in the world!

This journey to become a high cost country has been bad for our character and is destroying the future for our next generation.

A major contributing factor is the belief that "tendering" is the best way to allocate resources. This is a mistaken belief. It has allowed certain opportunists to make a lot of money at the expense of the general public - in the price of homes, shops, contracting work, etc.

Instead of reducing cost, it has allowed certain well connected people to make excessive profits. It has also led to corrupt practices - for example, some of the recent cases that were prosecuted. This must be the tip of the iceberg.

The tender system has also lead to bad workmanship and lower standards. Look at the poor quality of our HDB flats at one time, and now the frequent breakdown of the MRT trains.

Our COE system, for tendering of the expensive piece of paper, has also gone haywire.

There is a better way than the tender system. If only our well paid civil servants and political leadership use their common sense and think differently.

Save $200,000 by choosing the right insurance policy

Read this review by Alvin of The BigFatPurse.com
http://www.bigfatpurse.com/2013/06/how-to-accumulate-200000-for-retirement-by-choosing-the-right-insurance-policy/

Free or inexpensive PDF book

Here are some free or inexpensive PDF books that sell for less than half the price of the hard copy version, and suitable for the Singapore context. 

www.tklcloud.com/pdfbook

FREE Talk on "Improve Your Business"

I am giving a talk on how you can improve your business by using the services available on TKL Cloud to:

• Keep your business accounts
• Manage your employee's payroll, leave and time recording
• Sell your products, services and consultancy through the Internet
• Invite people to attend a talk or event and manage the registration
• And more.

These services are designed for small companies. The cost of using the services is only $120 per month, after government funding.

The talk is on 21 June and 29 June at 99 Bukit Timah Road. (FREE admission).

If you are interested, please register at
http://tklcloud.com/book/41

Look forward to see you. You can register for your friends and colleagues to attend also.  A confirmation e-mail will be sent to you after registration.

Allow elderly to join Medisheld without underwriting

11 June 2013

Editor, Forum Page
Straits Times

Mr. Geoffrey Kung, secretary of the Reverse Cooperative,  

suggested that seniors should be helped by allowing them to 

join a group health insurance scheme.

I support this suggestion and to use Medishield to achieve this

goal.

I suggest that elderly citizens, above 65 years, should be allowed 

to join this scheme without the need to satisfy the underwriting 

requirements and without exclusion of pre-existing conditions.

We can allow the elderly who are now uninsured a period of three months

to enroll into the scheme. 

To ensure a good take-up, Insurance agents should be allowed to sign up the 

eligible senior citizens and be given a one time commission of $50 for each case.

It should be possible for the claim experience of this group of insured to be

monitored separately, and for any deficit to be funded by the government. 

It is better for our national health care system that these senior citizens be 

covered by Medishield, rather than for them to remain in a limbo.

Tan Kin Lian

President

Financial Services Consumer Association