Singapore Elders, please Grow Up! Retired principal Ho Chee Peng, 77, is a first-generation resident of Teachers Estate who bought his terraced house for $24,700 in 1969. He and his wife, retired teacher Ho Fong Oi, 71, live off their savings. But they have elderly and widowed neighbours without much savings and income who do not get the same government benefits as someone who may live in an HDB flat but drives a Mercedes or Maserati. Such situations make retirees like them question: Who is to say that one group is better off than the other? Mr Singh, whose Kebun Baru ward includes Teachers Estate and Sembawang Hills, says: Some mentioned to me that they want to spend their last years in their own house and it will be unfair for them to be asked to move to a new environment. Really unfair? There are those who feel the asset-rich are being too demanding. SMUs Prof Koh believes it would be inequitable for well-off retirees to insist on holding on to their wealth in property but want handouts from the Government because they dont have enough cash flow. If these retirees do not have enough money to spend, why cant they sell off their houses and move to a smaller place? Is this wanting to keep the cake and eating it too? To me they complain like spoilt over-grown kids!
Posted on: Tue, 03 Dec 2013 14:21:45 +0000
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