Shed more light on funding

Shed more light on funding


BUDGET 2015 outlined a better future for Singaporeans, and one key area of this year's Budget is to provide greater assurance in retirement.

Measures that were announced to strengthen our social security system are a step in the right direction.

The Silver Support Scheme for low-income seniors is particularly heartening ("Silver Support to boost social security net"; Tuesday).

Providing cash supplements to them earlier will help them get on with their lives without having to worry about their next meal.

However, as a grassroots leader, I am aware of some concerns among residents about the fiscal sustainability of this permanent scheme.

Perhaps, the Government could shed some light on how this scheme would be funded in the long term.

Also, the factors that will be used to determine eligibility should be clear, transparent and fair.

For example, households with a higher household income do not necessarily translate to better support for the seniors in retirement as there could be many dependants living under the same roof.

Hence, when determining the level of income for the household, it would be more objective to look at per capita income instead.

V. P. Sreevardhanan


Ang Mo Kio-Hougang Citizens Consultative Committee

This article was first published on Feb 27, 2015.
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