Myth: Singapore's old age support ratio is alarming.

Fast-ageing Singapore, fewer to support aged; Trend worries experts:

"Singaporeans are living longer and not having enough babies to replace themselves, meaning the swiftly ageing population has fewer working citizens supporting the growing pool of elderly."

Some statistics:
Singapore old age support ratio: 6.4, in 2013. (from singstat.gov.sg) If only citizens are considered, the ratio is 5.5 in 2013.

How good or bad is this ratio? One way to decide is to look at international statistics. OECD has a 2011 report on old age support rates, using 2008 data. Most of the countries have ratios below 5. For OECD, the support ratio is 4.2; Japan, 2.8; Germany, 3.0; Sweden 3.3; Finland, 3.7, Denmark, 3.7.

We do not see these countries falling apart because of their very low support ratios. The huge alarm over Singapore's old age support ratio is an over-reaction.

Definition: "The old age support rates relate to the number of those who are capable of providing economic support to the number of older people that may be materially dependent on the support of others. The support rate indicator used here is the population aged 20 to 64 as a ratio of those aged 65 and over."

SIngapore Prime Minister: We have no money.

Anyone interested in finding some Singapore government money can see the Singapore case in this link.

Government's money is people's money

SINGAPORE: Prime Minister Lee Hsien Loong said that it is important for Singaporeans to share a sense of collective responsibility in ensuring that policies designed for the people benefit everyone.

Mr Lee made this point on the live TV forum, 'Ask The PM' on Channel NewsAsia on Tuesday evening.

"You are talking about significant changes to the way social policies are going to be run and this is obviously going to cost the government a fair bit. Who is going to pay for this and how are you going to ensure that these groups pay for this," asked MediaCorp News Editor-in-Chief Walter Fernandez.

Mr Lee replied: "The government doesn't have money from heaven or our own sources. Government's money is people's money and eventually all the money has to come from taxes or some other revenues, from COEs or maid levies."

Mr Lee said this is one of the reasons why the government has to think very carefully before it decides to move to start new social programmes.

He said: "We have made the calculations. What we have announced, what we want to do, we can afford to do, can't all be out of government coffers or from the Finance Minister writing a cheque. Individuals still have a responsibility and they ought to pay some part of it, and the community also ought to take some responsibility for helping to make some things happen and helping to support the projects."

Mr Lee referred to the new Medishield Life policy as an example where everyone has to take responsibility when it comes to paying premiums, now that the scheme has been made universal.

"Take the Medishield Life for example. We have made it universal. Who is going to pay? Premiums will have to go up and individuals have to pay. The government will subsidise for the low income groups, particularly for the older ones who were in the pioneer generation. We are going to have a special package for them so the government will put some of it up.

"What happens when somebody doesn't pay? You cannot drop out. If you don't pay, then your benefits will effectively have to be funded by all the rest of us who have not defaulted and I don't think that is fair so not paying becomes a serious matter and then we will have to find ways to encourage people to pay their premiums."


Follow up

Where did our money go? (By Roy Ngerng and Leong Sze Hian, 1 Oct 2013, The onlinecitizen)

"Singaporeans are forking up the money through taxes and Medisave, they are in effect paying for their own healthcare bills by themselves. Worse yet, they are paying a portion of their own wages into these schemes, without seeing significant real returns comparable to those obtained by the government, whilst these schemes continue to accumulate surpluses."

Ask for Food Stamps. Ask for Citizen Dividends.

Congresswoman Uses Steak, Vodka, And Caviar To Hammer Republicans On Food Stamp Cuts

Government, in spite of its people

A selection of great perspectives on the Alaskan citizen dividend

Meredyth Richards · Development Officer at Girl Scouts of Alaska

Hey AP hacks:

A) It's called a snowmachine.

B) While I understand not wanting to destroy the allure of crazy Alaskans rolling in handouts with facts, if you would unpack the philosophical, constitutional, and economic principles behind this pathetic excuse for an informative "paragraph," you might realize the PFD is NOT even remotely "free money":

"The Permanent Fund was established in 1976 after North Slope oil was discovered. The state began distributing money from the fund to residents in 1982."

The PFD check each Alaskan receives represents the remnants of the cost of running our (socialistic) government. It is already money "owned" by each resident by the nature of those who are part of the Commons owning the resources that generated that money. The paltry amount we get each October is a small share of what is already ours to begin with; this is not the definition of "free." The state is actually living on money taken from the people. But never mind these pesky details! Free money!

Bryan Cherry ·  Top Commenter · Toiler of Dreams at I toil where the voices lead

So, it's not really free. It's more like finding a $20 in the washer...well...no..wait, that isn't it either. It's like that bully down the street stealing your lunch money and then expecting you to be grateful when he returns a part of the money after he has indulged himself and a few buddies on donuts.

Kelly Jo Herrmann ·  Top Commenter · Anchorage, Alaska

I really wish people would bother to research this topic and stop calling it 'free money'. It is NOT free money. We, the Alaskan people, OWN the resource.

Byron Whitesides · Hillsdale College Online Courses

funny we haven't had a decent permanent fund since Sarah Palin was governor in spite of record oil prices and profits. Meanwhile the present governor can give billions of tax monies back to the oil companies making record profits here, with no promise from them of more development or production. Don't you think that in order to get a tax break, they should have to drill and produce NEW development? Something stinks here...

Sheilah Blanco ·  Top Commenter · Anything Legal at Public

Thank you ever so kindly LORD and of course you too Alaska. I don't mind admitting there was actually a time the PFD spared me and my kids from homelessness. Due to my mistake(s) and failings it's true, but TG the PFD was there.

Adam Rose-Levy · Intern at Funny Or Die

The PFD is awesome, no doubt about that. But I encourage people to look at what Norway has done with their Sovereign Wealth Fund. Had we nationalized our oil industry, we could be looking at that kind of chump change (an estimated $1 trillion by 2020). Just some food for thought.

Ryan Marquis · Council Member at Kenai City Council

If you want to thank someone, thank the "father of the Alaska Permanent Fund", the late former Speaker of the House, Hugh Malone; and "father of the Permanent Fund Dividend", the late Governor Jay Hammond.

From Anchorage Daily News

Alaska, Oh Alaska, the Land of Citizen Dividends

Acting Alaska Department of Revenue Commissioner Angela Rodell

 announces the amount of the 2013 Alaska Permanent Fund dividend of $900

Read more here: http://www.adn.com/2013/09/17/3080873/alaskans-eager-to-hear-amount.html#storylink=cpy

Another year of citizen dividends for Alaskans, the envy of citizens worldwide.

Alaska is the first citizen-ownership democracy, in the entire history of mankind.

It has been paying citizen dividends to every Alaskan for each of the last 32 years!

Citizen dividend: charity or justice?

He says citizen dividend is justice. It is the return of stolen property.

1.  Karolyi says: People like Bloomberg decry the “citizen’s dividend” as a “moral hazard” as if it were welfare. Instead, it is – morally speaking – no different than the return of stolen property. (A response to “Hong Kong’s “citizens dividend”)

   
   
   
   
   
   
   

How big will be a Malaysian citizen dividend?

This is a very quick estimate of the Malaysian citizen dividend if it becomes a citizen-ownership democracy.

This estimate is based on just one source: Petronas, "short for Petroliam Nasional Berhad, is a Malaysian oil and gas company that was founded on August 17, 1974. Wholly owned by the Government of Malaysia, the corporation is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources."

Malaysia has a population of about 29 million.

"Including taxes, export duties and the dividend, Petronas estimates its total payments to the Malaysian government added up to 65.7 billion Malaysian ringgit ($21.10 billion) in that fiscal year." From Special Report: Petronas chafes at its role as Malaysia's piggy bank, Jun 2012.

From Petronas alone, the citizen wealth is at least RM 2,200 per citizen in 2011. The actual wealth from Petronas is more. For example, it is reported that dividends paid to the government is only 55% of net profit. 

A household of 4 persons would have a citizen income of RM 8,800. This is a lot of money. In comparison, the mean household income is about RM 4.025 a month in 2009.

The citizen dividend for Malaysia can be very substantial even considering just one source of wealth from Petronas. 

In comparison with this, BR1M (1Malaysia People’s Aid) does not look that generous anymore.

BBC News - Chile's judges apologise for their actions after coup

BBC News - Chile's judges apologise for their actions after coup: 

The body representing judges in Chile has made an unprecedented apology for the actions of its members under military rule in the 1970s and 1980s.

In a statement, it said that the judiciary at the time had abandoned its role as protector of basic rights.

"The time has come to ask for the forgiveness of victims... and of Chilean society," said the judges.

A rare but the right thing to do. Apologies may be late by decades.and definitely not when the dictators are in power.

Remember: this is your money. View of a Peking University professor

Balding's World | Global Finance and Economics:

"CPF, GIC, and Temasek returns are not the governments money. They belong to the savers and tax payers of Singapore who have made it a great country. Remember: this is your money."

It is saying that sovereign wealth funds and pension funds belong to citizens.
This is the message for citizens from for all countries, and for all common wealth, including funds, oil, minerals and land.

Most citizens are resigned to the fact that they have zero or almost zero control over those monies. But there is hope. Citizens should get to know the model of the Alaska Permanent Fund. Dividend from common wealth is distributed equally to every citizens/residents every year without depending on any politician's largess.

A picture of citizen-ownership democracy

In brief, a citizen-ownership democracy focuses on the first column, on how revenues and profits generated from a country's common wealth should go back to citizens as citizen dividends.

There is no disturbance to private wealth.

Country’s common wealth	Economic transactions  between state and private entities generate revenues / profits from common wealth	Country’s privately owned wealth
Revenues/profits should go to citizens who are owners of their country. But these are confiscated by the State, who is only an agent or a custodian.		Profits go to private owners

See the citizen-ownership democracy manifesto.

Why are current welfare systems bad?

Have to beg for welfare
From Demon-cratic Singapore

This is just one answer.
You have to beg for welfare. Show bank account statements and pay slips for you and every one of  your relatives.

Even after all these steps, the amount you will get is far less than  your confiscated citizen- ownership dividend.

There is injustice somewhere.

Here is a report of how difficult it is to get "welfare" from the Singapore government:
Homeless with a handcart against Singapore’s Grand Prix by kjeyaretnam

Constitutional protection of human rights. Japan. Alaska.

Japan Constitution

CHAPTER III
RIGHTS AND DUTIES OF THE PEOPLE

Article 11. The people shall not be prevented from enjoying any of the fundamental human rights. These fundamental human rights guaranteed to the people by this Constitution shall be conferred upon the people of this and future generations as eternal and inviolate rights.

This is good protection by the Constitution. This is quite rare among countries.

We need similar Constitutional protection for citizen ownership and citizen dividend as eternal and inviolate rights.

Even the well protected Alaska Permanent Fund dividend is not fully protected. There have been failed attempts by politicians and others to stop this iconic citizen dividend.

The Alaska Permanent Fund Dividend: A Case Study in Implementation of a Basic Income Guarantee

"Although the Permanent Fund balance, which ultimately determines the size of the PFD, is constitutionally protected, there is no such guarantee for the annual distribution. The legislature has the authority to change the formula at any time and could, by law, eliminate it entirely. Its only guarantee is its political popularity. No legislator would suggest a change in the formula that would reduce its amount or the share of Permanent Fund earnings allocated to the dividend for fear of losing the next and all subsequent elections."

Democrats Push Permanent Fund Dividend Protection In Light Of Oil Giveaway April 3, 2013

"JUNEAU – Today eight Democratic legislators filed legislation to protect the Permanent Fund Dividend by placing the current dividend formula in the Alaska Constitution."

Respecting our old. Canada. Singapore.

Old Singaporean. From rogerpoh.

Canada gives every old Canadian $540 a month plus an additional $745 a month if he or she has a low income. That is $1,280 a month or $15,360 a year. This is on top of any work related pension.

This is really respecting the old. It is a basic income guarantee for old people.

In Singapore, the old age pension for a Singaporean is . . . let's not talk about it.

(If you are interested, you can read rogerpoh.)

Do you think that government’s gross income was primarily tax income?

"If you polled Americans asking the question: Do you think that government’s gross income was primarily tax income? Ninety-nine (99%) percent would answer yes when in fact that answer would be saying in comparison that the world is flat."

Governments keep 2 sets of books, from Nooganomics

This is very informative and important reading for citizen education. It says tax is only one third of gross income. Two thirds come from a government's investment and commercial operations. Don't forget the revenues that are generated from commonly owned properties, such as oil, land and sovereign wealth funds.

Although this article analyses the USA example, it is applicable to other countries. 

"So why are 99% of the public conditioned to reply with an answer that is so contrary to truth and signifies an intelligence factor of a medieval serf from the first century on this specific question of such great importance?"

When politicians ask, "Do you want more tax in order to provide more welfare?", you know that is a nonsensical question. It is like a beggar pointing to his empty left pocket while his right pocket is full of cash.