Leong Sze Hian’s vain attempt to cast doubt on the Government’s good intention in the PG Package

Pioneer, Singapore, Subsidy, Generation, Fund, Matters, Team, Given, Government, Left, Top-ups, Editorial

Leong Sze Hian wrote an article published by TISG (Did the Singapore Govt overestimate the PGP package or under utilised the funds to assist seniors?) that was a stark display of ignorance and a vain attempt at casting doubt on the good intention of the PAP Government in introducing the package.

In his hurry to sow doubts, he wrote:

As some PG seniors may have died since its inception — does it mean that the average benefits that the seniors received may be less.... as there were 110,000 more PG seniors now compared to the 340,000 PG seniors eight years ago?

Leong Sze Hian
The Pioneer Generation Package honours a group of people born in a certain period of time.

The number of people honoured in this package does not increase. It will only decrease with time as more of them pass on.

The number of people honoured in this package does not increase. It will only decrease with time as more of them pass on. So there will never be a situation described by Leong where the number of PG seniors is more now than at inception.
Singapore Matters
Singapore Matters
Editorial Team
@sgmatters You'll be miserable if they come to power, but they're good for a laugh. At that point, even God can't help you. #leongszehian #Singapore #opposition ♬ Happy Laughing - Sound Effect

... given that the initial S$8 billion was meant to finance a projected cost of S$9 billion for an estimated 20 years.

Leong Sze Hian
Utter rubbish. It's Leong Sze Hian, the magician at work
Singapore Matters
Singapore Matters
Editorial Team

since there is $6.16b left of the original $8b... does it mean that the Government overestimated the expenses or under-utilised the fund to assist the Pioneer Generation?

Leong Sze Hian
On the contrary, the estimation by the Government seems pretty good.

340,000 pioneers left out of an initial 450,000 means about 76% of the original group is left. $6.16 billion left out of $8 billion is about 77% of the original $8 billion. Pretty good estimates actually. It certainly looks like there is neither over-estimation nor under-utilisation of the package.
Singapore Matters
Singapore Matters
Editorial Team

Would the $8 billion PGP be fully utilised by the end of 20 years?

Leong Sze Hian
Does it matter if the $8 billion is not all spent? Whatever money is left after all the pioneers are gone will be put to good use elsewhere or saved for the future.
Singapore Matters
Singapore Matters
Editorial Team

Where was the initial PG Fund of $8b invested? Was it given to one of our sovereign wealth funds, like the GIC to invest?

Leong Sze Hian
Does it matter if the funds were given to GIC to invest? It would be sheer stupidity to let the fund sit idle instead of growing it for more to take care of pioneers.
Singapore Matters
Singapore Matters
Editorial Team

And what proportion of the average benefits .. were Medisave top-ups?

Leong Sze Hian
Medisave top-ups and MediShield Life premium subsidies are all published in CPF Annual Reports and available for Mr Leong to read if he was really interested.

They're budgeted for 20 years for the PG Package and on average, the Government expects to spend $400 million a year for such top-ups and subsidies for the pioneer generation.
Singapore Matters
Singapore Matters
Editorial Team
Pioneer, Singapore, Subsidy, Generation, Fund, Matters, Team, Given, Government, Left, Top-ups, Editorial
Budgeted for 20 years, top-ups and subsidies average around $400 m a year.

In Conclusion

Leong Sze Hian tried to cast doubt on the good intention of the Government in honouring pioneers for their contribution towards building SingaporeHe fails.

Here’s what you really need to know about the Pioneer Generation Package

The Pioneer Generation Package provides pioneers with MediSave top-ups for life, and special subsidies to pay for their MediShield Life premium.

There are already various subsidies available at Specialist Outpatient Clinics for lower and middle-income households in Singapore. In addition to this, Pioneer Generation receives another 50% subsidy for their outpatient care costs.

Subsidies are also available at participating GP and dental clinics under the Community Health Assist Scheme (“CHAS”):

  • Common illnesses – up to S$28.50 per visit
  • Chronic conditions – Between S$360 and S$540 per year, depending upon the complexity
  • Selected dental services – S$21 to S$266 per procedure

The Pioneer Disability Assistance Scheme gives lifelong cash assistance of $100 each month for Pioneers who permanently need assistance in at least three of the activities of daily living.

The benefits given to Pioneers extend to their families through lower costs of healthcare. By taking care of their health without hesitating to see a doctor, pioneers will also enjoy a better quality of life. 

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