10 Feb '12, 9pm

Don't let baby boomers lose out on CPF

I refer to your report "CPF rates for older workers need to be increased: PM" (Feb 9). It is gratifying to note that the Government is reviewing this policy. But for thousands of baby boomers, the change comes too late. Many would have retired or would be near retirement. I recall that when the decision was made in the 1980s to cut the Central Provident Fund rates of older workers, the rationale given was to help companies stay competitive and viable, never mind that many older workers had put in years of loyal service. Many had accepted the cut, although it was not in keeping with the often stated calls from several quarters that recognition be given to older workers for their experience. The post-war baby boomers have contributed much to Singapore's progress. Perhaps, when the CPF rates are increased, there could be some form of CPF recognition for this group so that the...

Full article: http://www.todayonline.com/Voices/EDC120211-0000010/Dont-...

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