14-DEC-1993
19:15
COMMS OFFICE (GOVT HOUSE)
6
852 530 3284 P.07
For any
$.
Those
because
it is
who
safe
argue
that
we
should
go
for a CPF
misses the point altogether.
retirement
first and
benefits.
protection system to serve its purpose, it must foremost be capable of yielding meaningful
Why disrupt the public's saving patterns of
choice, and
on them the red-tape of an impose elaborate central system, if the benefits that they get in be lower than what they could have
their
own
the end
made
are
going
their own
What
moral responsibility would
Government
have to bear if we force people to put money in
our hands when we know very well that the returns would be
unsatisfactory or even negative ?
9.
Having addressed
these
questions seriously,
we
have
concluded once again that we cannot recommend a CPF to
the public, no matter how politically expedient it might be
for us to do so.