I refer to the article “Ex-construction worker turned boss wins top entrepreneur award” (Straits Times, Dec 5).
$13 a day pay to $18 after 31 years?
Since he was earning $13 a day or about $400 a month about 31 years ago, and I understand that construction workers are now being paid as little as $18 a day – the pay may have decreased in real terms by about 22 per cent after 31 years.
We may arguably, have become a nation renowned for the exploitation of foreign and low-wage Singaporean workers.
Work permit holders have no future?
Also, it may be almost impossible today for a foreign worker on a work permit, to ever become a citizen or start a business.
Unlike most other countries, and in the distant past in Singapore, work permit workers know that they have no future in Singapore.
More than a million unmotivated workers?
Hence, what do you expect? Lowly paid workers who are not motivated – resulting in low productivity, poor service standards, etc.
I refer to the article “Lifetime claims limit might be removed in MediShield Life” (Sunday Times, Dec 8).
Increase Medishield lifetime limit?
It states that “When MediShield changes in 2015 to include everyone for life, the current $300,000 lifetime limit will likely be scrapped. And if review committee chairman Bobby Chin has his way, people who stay healthy will receive rebates on their annual premiums, he said on Saturday.”
- Since Medishield is designed to cover class C and B2 hospitalisation, how many have ever exceeded the current $300,000 lifetime limit?
How many can’t afford Medishield premiums?
As to premiums, how many lapsed their Medishield because they could not afford to pay the premiums, last year and in previous years? How many have zero or less than $2,000 in their Medisave accounts?
One of the most profitable national health insurance schemes in the world?
What was the excess of premiums collected to claims paid since Medishield started plus the accumulated interest on these excess funds?
When Medishield-Plus was transferred to a private insurer, was the accumulated surplus transferred too?
Leong Sze Hian
*Leong Sze Hian is the Past President of the Society of Financial Service Professionals, an alumnus of Harvard University, Wharton Fellow, SEACeM Fellow and an author of 4 books. He is frequently quoted in the media. He has also been invited to speak more than 100 times in 25 countries on 5 continents. He has served as Honorary Consul of Jamaica, Chairman of the Institute of Administrative Management, and founding advisor to the Financial Planning Associations of Brunei and Indonesia. He has 3 Masters, 2 Bachelors degrees and 13 professional qualifications.