00:00 Economist Muhammad Atukali suggested that the minister and other politicians should pay the pension fund EPF instead of the pension.
00:12 After this suggestion, we can see that Muda's chairman Saishadi and the president of the campaign, Fan Pingdong, all agreed to replace the pension fund.
00:23 Now, former president Wu Xin and former member of the Lin Mao district, Kelly, also agreed to the government's proposal to abolish the EPF in his blog program, "Close to Good Job".
00:34 He also suggested that the pension fund should be abolished to help balance the country's finances.
00:42 Kelly said that if the pension fund should be replaced by the EPF, he would be ready.
00:51 I think the pension fund is an antiquated thing.
00:57 It's outdated.
00:58 Yes, it's outdated.
01:00 When I was in the cabinet, I said that there are three things that we need to do to maintain our fiscal status.
01:09 First, we need to reintroduce GST.
01:12 Second, subsidised rationalisation.
01:15 So, the government wants to do subsidised rationalisation, although we don't know what the mechanism is.
01:21 GST is still waiting to be seen.
01:23 Third, to stop the pension.
01:26 But, before the public officials spit on me, for the public officials who are already in service, continue the pension scheme.
01:36 Kelly has given some suggestions on the retirement of civil servants.
01:43 He also said that a date could be set for the newly-joined civil servants to be replaced by the pension fund.
01:49 For example, starting from 1 January next year, the pension fund will be replaced.
01:53 If it is not abolished, the government may spend up to 5 billion yuan on the civil servant's pension in the next 10 years.
02:04 (music)
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