According to the Straits Times news report ”CPF proposals: Facts and figures in the CPF Advisory Panel report” (Feb 6) – “Living longer
According to data from the Department of Statistics (DOS), someone who turned 65 in 1980 could expect to live 14 more years, but someone who turned 65 in 2013 could expect to live 21 more years.
In addition, among those turning 65 years old today, one in two will live beyond 85, and one in three beyond 90.”
50% dead by age 86?
Does this mean that a 65 year old has a 50 per cent chance of dying before 86?
Since the estimated depletion of the CPF account to zero is around age 93 – how many age 65 will be alive at 93?
How many alive at 93?
As half the premium is transferred to the CPF Life pool at 55 under the default plan – perhaps the most important statistic is how many age 55 will still be alive at 93?
Secret facts?
The most important facts and figures wete not mentioned at all.
What is the percentage of active CPF members to the total number of Singaporeans at age 55?
What is the weighted average rate of interest for all the CPF accounts?
What is the annualised return of GIC from its inception?
Where can the public see the actuarial report on CPF Life to look at information like how the funds from those who die before 93 are reconciled with those who live beyond 93?
Win battles lose war
TRS Contributor