Selected groups may be exempted from compulsory annuities

Not all Singaporeans will need to buy compulsory annuities when they turn 55 years old.

• Those with chronic diseases may be excluded, since they may not live long enough to enjoy the life insurance payouts.
• Those who are adequately covered and the policy which they bought fulfils a certain requirement may also be exempted.

More details on the scheme are expected when Parliament sits on 17 September.

http://www.channelnewsasia.com/stories/singaporelocalnews/view/298784/1/.html