Explain CPF LIFE Simply!

Recently Meanister Ng had annouced the compulsory annuity scheme (which had nicely renamed CPF LIFE) for Singaporeans 50 years old and below, starting from 2013.

Err.....please meanister, you are explaining the scheme to the public and many folks simply didn't quite understand your "chimealogy" of "Opt-in" when it's Compulsory. After all the announcement, news splashing two full pages of the Straits Times, the only take home message I believed we've got is,"I believe most of you will opt for payout at 80...".

First reaction - "Crazy ah?......opt 80 years old to start payout? Who of sound mind will choose this option?" I am rather excited to see the statistics of those people who opt for payout at 80 yrs old when it is implemented in 2013.

Don't mind, Meanister Ng, you might then be made a laughing stock out of this? Perhaps you may wish to take some cue from Meanister Khaw, who could put in simpler terms and yet explained in details, in announcing such important news to the public? Well, you may be trying to "cushion" the earlier strong reactions by Singaporeans regarding this compulsory annuity scheme. But we simply couldn't feel your sincere delivery in the speech, though you've got the 'brains'.

So for those who wants to find out in details, check this :
Quick guide to CPF LIFE