302: Government Support for an Ageing Populaton

Government Support for an Ageing Populaton

A. Central Provident Fund (CFP)
What is CPF about: http://mycpf.cpf.gov.sg/CPF/About-Us/Intro/Intro.htm

Among Singapore residents aged 65 in 2006, _____ % can expect to be alive at age ____ and _____ % at age _______. This rising life expectancy means a change in the way we support ourselves. Why? Because many of us would not be able to earn a living by the time we reach our 80s.

What are the three accounts in CPF and what can they be used for?

1.______________________________________________________________________

2.______________________________________________________________________

3.______________________________________________________________________


For your reading pleasure and fun:
Read about CPF’s new scheme to help retirees meet their financial needs:
http://mycpf.cpf.gov.sg/Members/Gen-Info/CPF_LIFE/CPF_LIFE

http://www.cpf.gov.sg/cpf_info/elearning/cpf_plasma/cpf_menu.html
- Click on Managing your Retirement
(advance slides with next slide option at bottom of page)
- Click on Retirement Planning
Try the Interactive Journey (suggested monthly income for retirement: $2000)

B. Tribunal for the Maintenance of Parents
… provides help from the law courts for aged parents to seek ________________ from their children, who are capable of supporting them, but who are not willing to do so.

C. Tax Relief, and D. Public Housing Scheme
Government encourages family support (Many Helping Hands) by offering financial incentives for extended families to live close to each other. This way, families are able to take care of their elderly.
Under tax relief, you can get an income tax relief if you take care of your ______________________________________________ or if your grandparents take care of your children while you and your spouse are at work.
Our Public Housing Scheme offers a grant of $40,000 if you buy a flat in the area where __________________________.