[sgbuffett]

The pitch is to entice people firstly by conditioning them that they will live pass 85yo and then sell the annuity.

How many can and will you live pass 85yo and beyond?

The unspoken is that this entire scheme is to shift the social burden to care for those who live passed their CPF years by making everyone pay for it instead of govt. Your CPF monies no longer is just for your retirement but a social safety net for others. That is why no matter how you compute, the annuity will payout less than you for yourself...

While the govt can argue that govt should not bear all the social cost, but it's even less reasonable for everyone else to bear it for strangers. We did not benefit from others' lives, why should we bear the consequences? The govt on the other hand benefited from voters, else who in their decent mind will pay this bunch of mediocre indecent sums of money as pay or allowance?? Lol

Basically make everyone get less per month to fund those who live long life...

We known money has to come from somewhere either taxing progressively  or just take from everyone including the  poor.
 
Policies are good or bad depending on the context  if you have relatively equal society making everyone pay equally is okay...money has to come from somewhere.

When you have very high inequality, it is almost incompatible with a low tax regime because you want some transfer from very wealthy to others and you have to tax.

Sjngapore is seeing rising poverty especially among the elderly in recent decades. It will get worse and worse under the current system..