16 May '11, 4am

Housing type is not an accurate and fair yardstick for the Govt's wealth-sharing schemes, says our reader.

DR ANTHONY Tay commented that housing type used in wealth-sharing schemes by the Government is a fair reflection of personal asset and wealth ('Downgrade to HDB for easier retirement'; Thursday). Although the Government makes a marked distinction between private and public housing, it does make distinctions between the different HDB housing categories as well. So a person living in a three-room HDB flat would receive more from wealth-sharing schemes than someone who lives, say, in a five-room HDB executive apartment. Even then, it will not accurately reflect personal asset and wealth. When my brother got married some years ago, my retired father gave up his three-room HDB flat and came to live with me in my HDB executive apartment. He immediately suffered cuts in all wealth-sharing benefits from the Government despite the fact that his income or asset status remained the s...

Full article: http://www.straitstimes.com/STForum/Story/STIStory_669023...

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