SINGAPORE — If elected, Mr Ong Teik Seng will call for the Central Provident Fund (CPF) scheme to be revised so the elderly here can retire more comfortably.

For instance, he hopes to do away with the CPF principal sum — the sum of savings that Singaporeans cannot withdraw even when they reach retirement age, to provide for monthly payouts in their retirement years.

“The pioneers have worked so hard all their lives, the Government should help them and let them enjoy their golden years to the fullest,” said Mr Ong, who is principal private secretary to Singapore Democratic Alliance chairman Desmond Lim.

“They should be given more freedom to use the money instead of being restricted further.”

Mr Ong said he came to understand the plight of seniors here after helping out at his grandfather’s provision shop in his younger years.

“Many of the loyal customers I meet are from the Pioneer Generation. After chatting with them, I realise that they do want to retire but cannot afford to do so,” said the 44-year-old.

He cited schemes in Japan that offer seniors more flexibility to tap into savings upon retirement.

“The Japanese government also invests these funds but they are paid back with higher interest rates than (in Singapore),” he said.

Mr Ong also hopes that employer contribution rates to the CPF can be “restored” to what they were before the Asian financial crisis: “(The Government) has promised us this, but they haven’t done it.”

He also hopes children can be given more opportunities to get higher education, so they can face the future challenges of a foreign talent influx.

“We need a Government that truly hears from and understands Singaporeans’ challenges and helps them in a targeted manner, not give them a bucket of rations they don’t even need,” he said.

About the candidate

Ong Teik Seng, 44

Sales director

FACT FILE:

• Cambridge A-Levels

• Performance diploma in music

• Plays the organ and piano

• Speaks six languages (including three Chinese dialects) fluently

• Married with three sons

He said: “I am like any ordinary Singaporean. Politics may be challenging, but if it allows me to speak the heart of ordinary Singaporeans, why not?”

Ward: Pasir Ris-Punggol GRC