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Response to "Will PR status be renewed if retiree is not a burden?" (Straits Times, 4 Feb 2008)
11 February 2008
Straits Times
Lim Jing Jing (Ms) Deputy Head, Public & Internal Communications for Commissioner Immigration & Checkpoints Authority
I REFER to Mr Michael Dietrich's letter, 'Will PR status be renewed if retiree is not a burden?' (ST, Feb 4).
It is heartening that Mr Dietrich sees Singapore as his preferred country to settle in after his retirement.
We welcome foreigners, like Mr Dietrich, who not only contributed to our society, but can also identify with our way of life and are willing to make Singapore their home.
While there is no expiry date for the Singapore permanent resident (PR) status, there is a validity period for the re-entry permit (REP) issued to Singapore PRs.
The REP allows one to retain the PR status while travelling abroad provided that he returns to Singapore before his REP expires. This practice of issuing re-entry permits to PRs is adopted by other countries also.
We understand Mr Dietrich's concerns as a retired PR. One of the current requirements for renewal or issue of REPs for those who obtained their PR status under the Economic Scheme is to be gainfully employed.
Nevertheless, when such PRs retire, we would generally continue to issue or renew their REPs in recognition of their past contributions to Singapore.
Will PR status be renewed if retiree is not a burden?
AFTER reading the article about Mr Philip Yeo's efforts, 'The man who dreams of turning silver into gold'(ST, Jan 25), and keenly following the ongoing discussion about 'silver dollars' in Singapore, I would like to raise a point which bothers many expatriates and especially permanent residents in Singapore.
Those of us lucky enough to have spent many years living and working in Singapore may one day decide to spend all or part of our retirement here. We have learnt to appreciate and often love this country and have accumulated enough wealth to absorb the high cost of living, without ever becoming a burden to society or state.
I, for example, have worked here for 12 years as a managing director of two multinational companies. I retired two years ago and since Singapore is truly my preferred country, my first choice worldwide, I decided to retire here.
I spend about $130,000 a year in Singapore, thus contributing to the economy. I have savings to last me two lifetimes, health insurance as well as state and company pensions from outside Singapore.
For how long will we 'silver' expats and PRs be allowed to turn our silver into gold? Can we expect to be welcome in Singapore for a sustainable period of time?
Will our PR status be renewed if we just spend and don't work (pay taxes)? Will we have the necessary planning security to make larger investments (property)?
Can we expect a safer planning period than the maximum 10 years currently granted to PRs?
A clarification of these questions for all affluent retirees is thus important and reassuring in this ongoing discussion.
Michael Dietrich
Straits Times
Lim Jing Jing (Ms) Deputy Head, Public & Internal Communications for Commissioner Immigration & Checkpoints Authority
I REFER to Mr Michael Dietrich's letter, 'Will PR status be renewed if retiree is not a burden?' (ST, Feb 4).
It is heartening that Mr Dietrich sees Singapore as his preferred country to settle in after his retirement.
We welcome foreigners, like Mr Dietrich, who not only contributed to our society, but can also identify with our way of life and are willing to make Singapore their home.
While there is no expiry date for the Singapore permanent resident (PR) status, there is a validity period for the re-entry permit (REP) issued to Singapore PRs.
The REP allows one to retain the PR status while travelling abroad provided that he returns to Singapore before his REP expires. This practice of issuing re-entry permits to PRs is adopted by other countries also.
We understand Mr Dietrich's concerns as a retired PR. One of the current requirements for renewal or issue of REPs for those who obtained their PR status under the Economic Scheme is to be gainfully employed.
Nevertheless, when such PRs retire, we would generally continue to issue or renew their REPs in recognition of their past contributions to Singapore.
Will PR status be renewed if retiree is not a burden?
AFTER reading the article about Mr Philip Yeo's efforts, 'The man who dreams of turning silver into gold'(ST, Jan 25), and keenly following the ongoing discussion about 'silver dollars' in Singapore, I would like to raise a point which bothers many expatriates and especially permanent residents in Singapore.
Those of us lucky enough to have spent many years living and working in Singapore may one day decide to spend all or part of our retirement here. We have learnt to appreciate and often love this country and have accumulated enough wealth to absorb the high cost of living, without ever becoming a burden to society or state.
I, for example, have worked here for 12 years as a managing director of two multinational companies. I retired two years ago and since Singapore is truly my preferred country, my first choice worldwide, I decided to retire here.
I spend about $130,000 a year in Singapore, thus contributing to the economy. I have savings to last me two lifetimes, health insurance as well as state and company pensions from outside Singapore.
For how long will we 'silver' expats and PRs be allowed to turn our silver into gold? Can we expect to be welcome in Singapore for a sustainable period of time?
Will our PR status be renewed if we just spend and don't work (pay taxes)? Will we have the necessary planning security to make larger investments (property)?
Can we expect a safer planning period than the maximum 10 years currently granted to PRs?
A clarification of these questions for all affluent retirees is thus important and reassuring in this ongoing discussion.
Michael Dietrich