I think the approach would be better and the argument more sure-footed to win over many other fence-sitters if the opposition take the view that we must go back to the bases used to arrive at the minimum sum when it was first tabled in parliament.
Take a 2-step approach:
1. Apparently, Leong TH has already pointed out that the PROJECTED inflation rate used then has not turned up in line with the projection. In other words, let’s use the variance to REDUCE the difference.
That is only logical. Anyone who objects is but an ideologue or mainly concerned with his or his party’s pride that the projection had been flawed. The latter is really silly since no projection is likely to be 100% accurate. None will find fault with an admission…well, except maybe because you claim to be top talent & paid yourself millions to do that projection.
So, the first immediate aim is to reduce the difference arising from the variance in inflation rates, projected vs actual.
2. The next step would be to revisit the assumptions on the need and the quantum required to arrive at the minimum sum anew. Much has transpired and change since the rationale of the minimum sum was mooted. It is only honest and right to update a programme in light of changes and new expectations.
I submit that the above 2-step approach can be the common ground for both ruling & opposition parties to start the discussion from. If not at Hong Lim Park, then move a motion in parliament.
Providing for one’s retirement is a neutral but necessary step for Singaporeans. We must find a consensus and not be needlessly divided by playing politics with the matter.
What’s more, PAP cannot claim to have monopoly of insight & wisdom in this socioeconomic issue. Not only political parties but also academicians, industry practitioners and, indeed, qualified laymen should be encouraged to participate in this discussion.
But, sadly, I wager that the PAP govt will and cannot but view this request for a re-look as a judgment on their ‘failure’ and, therefore, will be deaf & blind to the pleas, a legit one, by citizens. They see it as a slight to not have initiated the discussion but instead a young lady & man doing so.
So, the day that pigs can fly is the day that PAP will send anyone to Hong Lim to face the crowd.
Hence, Change we Must.
End PAP’s dominance or PAP’s dominance will end us.
2cents