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“We have one of the highest savings rates in the world, yet many do not have enough cash for retirement. Why? Is there too much invested in property?”
– Minister and NTUC chief Lim Boon Heng, suggesting less CPF for housing, Straits Times, Apr 4, 2002
“How could savings at a rate of 40 per cent – a rate that is by far the highest in the world – for nearly four decades, still not enough for retirement? The inescapable truth is that HDB apartments have become too expensive … “
– Dr Chee Soon Juan, ‘Your Future, My Faith, Our Freedom’, published in 2001