00:00 Dr. Swee, as we know there is no pension for the new officials.
00:04 Is there any impact on the permanent contract that will be posted after 1st February?
00:08 It is across the board. If there is a contract, there will be no pension.
00:13 Contract and deposit, that is the government policy.
00:17 We wait for what the government will put in place.
00:20 We do not pre-empt or pass the government policy.
00:24 We accept the government policy from the JPA and we wait for what will be put in place
00:31 in terms of the new requirements that were mentioned by the Prime Minister in June 2023.
00:39 So we have to be patient.
00:41 Dr. Swee, you are more familiar with the young people's urge to represent the people first
00:46 so that they do not take a pension. So Dr. Swee, what will be the first thing you will do?
00:50 That is the right of everyone to decide.
00:55 So what we mean here is the future. It is not retrospective implementation.
01:01 If we get the future on contract, it will be a deposit and not a pension.
01:05 If it is a deposit, I think it is better to take it like that.
01:09 You know the numbers, right?
01:11 So if we deposit it, it is now 12-13, 11-12.
01:16 So we do that with the awareness that finally if we contribute, it becomes quite substantial.
01:25 I have heard a comparison with the KWSC, the deposit, to see what the quantum is.
01:34 I have heard that it is better to get through.
01:37 In my time, 40 years ago, my friends made a choice to get a KWSC.
01:47 The pension system is right.
01:51 The pension system is right. There is an option. You can have a choice.
01:54 Even then, when we were still in the pension system, the young people chose to get a KWSC.
02:00 Do not take it as a negative and disadvantageous thing.
02:06 Put it in perspective.
02:08 What do you think about the deposit?
02:11 I think the deposit has its own merits and everyone has the right to get a deposit.
02:17 So we will discuss in the court.
02:21 The minister must answer.
02:23 The Black Bencher can be dismissed.
02:26 The Opposition can also be dismissed.
02:28 This is what I want to discuss.
02:32 Thank you.
02:34 [END]
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