Allow pensioners to use Medisave funds for CPF Life scheme

In a media interview last month, Prime Minister Lee Hsien Loong said that self-reliance and giving people the ability to look after themselves are very important parts of his social policies ("Freeing global trade and dealing with social divides at home"; Nov 22).

To this end, I suggest that the Medisave accounts of retired government pensioners be tweaked.

I am a government retiree under the pension scheme, who is eligible for medical benefits under the Comprehensive Co-Payment Scheme and the Pioneer Generation package.

The Central Provident Fund Board should consider getting people like me to put our Medisave funds into insurance schemes such as CPF Life.

Such pensioners and pioneers do not need a large amount of Medisave funds, as our medical expenses are not high.

It would make more sense to channel the funds into a scheme that offers cash payouts, especially in view of the high cost of living today.

Raymond Lo Wan Mou

A version of this article appeared in the print edition of The Straits Times on December 29, 2016, with the headline 'Allow pensioners to use Medisave funds for CPF Life scheme'. Print Edition | Subscribe