Other concerns raised
QUALITY OF COURSES UNDER SKILLSFUTURE
Members of Parliament have raised concerns about the quality and rigour of courses offered under the SkillsFuture initiative, which will get about $1 billion pumped in yearly for the next five years.
Manpower Minister Tan Chuan-Jin assured the House that the Ministry of Education and the Workforce Development Agency will enhance accreditation frameworks, taking into account the points raised about ensuring rigour and relevance.
The courses supported under this scheme will be diverse, from aerospace to culinary skills, to cater to those who want to hone their skills and those who want to broaden their horizons with something new.
CPF LIFE PAYOUTS
From next January, CPF members will need to choose their CPF Life plans only at age 65.
Under the Standard plan, members get higher monthly payouts and lower bequests than those on the Basic plan.
Members are now asked to choose their annuity plan within six months of turning 55, even though their payouts start only some 10 years later.
SPOUSES AND CPF
Member of Parliament Foo Mee Har asked if transfers to spouses' CPF accounts could be made automatic.
From next year, CPF members can top up their spouse's accounts with any amount in excess of the Basic Retirement Sum.
She also suggested couples' joint consent when withdrawing Retirement Account savings.
Mr Tan said those are personal decisions: "It would be intrusive for the Government to intervene."