Howe Yoon Chong
Encyclopedia
Howe Yoon Chong (1923 – 21 August 2007) was a Minister
in the Cabinet of Singapore
and a Member of Parliament
for Potong Pasir
from 1979 to 1984. He was key in developing Singapore's infrastructural and financial framework, including the Mass Rapid Transit
(MRT) system, Singapore Changi Airport
and public housing
. In 1984, during his term as Minister for Health
, in order to address issues raised by a greying population, he made the controversial proposal to raise the age for the withdrawal of Central Provident Fund
(CPF) savings from 55 to 60 years in order that Singaporeans might have more money to live on in their old age.
Howe, who graduated from the University of Malaya in Singapore in 1953, also served as a senior civil servant
, holding the posts of CEO
of the Housing and Development Board (HDB) (1960–1970); Chairman of the Port of Singapore Authority (PSA), Permanent Secretary
in the Prime Minister
's Office and Head of the Singapore Civil Service
(1970–1979); Permanent Secretary of the Ministry of Finance
and Ministry of National Development (1979–1982); and Deputy Chairman of the Economic Development Board
(EDB) (1979–1984). In addition, he served as Chairman of the Development Bank of Singapore
(DBS) (1970–1979, 1985–1990), Great Eastern Life Assurance
(1992–2000) and The Straits Holding Company (1992–2007).
origin, Howe Yoon Chong was the son of a liquor shop owner who migrated to Malacca
, British Malaya
. Howe received his early education at St. Francis Institution in Malacca from 1933 to 1940, and was once a schoolmate of Minister Mentor
Lee Kuan Yew
at Raffles Institution
in Singapore. He graduated with a Bachelor of Arts
with Honours in Economics
from the University of Malaya
in Singapore (now the National University of Singapore
) in 1953.
for almost thirty years. He began his career as a teacher, then was a broadcaster for a period before taking the post of an administrative officer in the British Colonial Secretariat
. Later, Howe was appointed as a police magistrate
and then secretary
to Singapore's Public Service Commission.
In 1960, Howe became the first Chief Executive Officer
(CEO) of the Housing and Development Board (HDB). From 1970 to 1979, he was the Chairman and President of the Development Bank of Singapore
(DBS), the first Chairman of the Port of Singapore Authority (PSA), the Permanent Secretary
in the Prime Minister
's Office, and the head of the Singapore Civil Service
. From 1979 to 1982, Howe became the Permanent Secretary for the Ministry of Finance
and the Ministry of National Development. He concurrently served as the Deputy Chairman of the Economic Development Board
from 1979 to 1984.
During his tenure as a senior civil servant, Howe played the leading role in several of Singapore's iconic infrastructural projects like the Mass Rapid Transit
(MRT), Singapore Changi Airport
and public housing
.
Known by his civil service's colleagues as a fierce, tough-talking man, Howe debated vehemently with former Deputy Prime Minister Goh Keng Swee
over whether to build the MRT system in Singapore. Howe was strongly in favour of the MRT as the backbone of Singapore's public transport system, while Goh proposed a more economical all-bus alternative.
Howe fought strongly against the extension plans for a second runway at Paya Lebar Airport, and advocated the building of a new international airport
in Changi. This was despite the Cabinet's decision for the go-ahead in 1972, based on a British expert's report that it would cost less to expand Paya Lebar Airport and that there was not enough time to get Changi built up to meet increasing traffic needs. Howe gathered a team to reclaim land
, widened and extended the old Royal Air Force
airstrip to take Boeing 747
s and build the terminal. In August 1981, operations stopped overnight at Paya Lebar Airport and restarted the next morning at Changi Airport. Howe's role in setting up Changi Airport won him credit in Lee Kuan Yew's memoirs.
Howe also fast-tracked the public housing programme while serving as the HDB's CEO under then-chairman Lim Kim San
in the early years, solving the chronic housing shortage in the 1960s. He undertook the politically and technically arduous task of starting up Toa Payoh New Town
, and faced organised opposition to the resettlement of Toa Payoh and the removal of squatters. As Chairman of PSA, now known as PSA Corporation, Howe went against the advice of professionals to build Singapore's first container terminal
in the early 1970s.
during the post-World War II period. In 1979, Howe was again persuaded by then Prime Minister Lee and then-Minister for Finance Goh Keng Swee to enter politics, and he eventually agreed.
In 1979, upon being named as a People's Action Party
(PAP) candidate in by-election
s called in seven constituencies, Howe said he hoped to serve no more than five years. After submitting his nomination papers in the by-election, Howe dismissed the opposition candidates, including independent
Chiam See Tong
, as "court jesters" who had come out "to provide comic relief". Howe eventually beat Chiam with almost 67% of the votes to win the Potong Pasir
seat. In the 1980 general election, Howe again defeated Chiam for Potong Pasir, and duly served as the Member of Parliament for the constituency until 1984.
On 12 February 1979, Howe was sworn into the Cabinet as Minister for Defence
. Directness being his hallmark, just six months after becoming Defence Minister Howe said that those who dodged national service
ought to be looked upon as "pariah" in the community.
Howe relinquished his defence post to become the Minister for Health
from 1982 to 1984. There, Howe became best remembered by Singaporeans for his controversial proposal in 1984 to raise the age for the withdrawal of Central Provident Fund
(CPF) savings from 55 to 60 years. At a news conference on 26 March 1984, Howe reasoned that Singaporeans could not depend only on their children in their old age. That suggestion, part of the 54-page report of the Committee on the Problems of the Aged which he chaired, was eventually dropped. However, the report that took 20 months to finalise remains an important document with its forward-looking strategies to support Singapore's greying population
. Taking up the suggestions in the report, the Singapore Government subsequently introduced the Minimum Sum scheme. This allows workers to withdraw some of their CPF funds at age 55, setting aside a certain minimum sum which can only be withdrawn at retirement age, currently at 62 years. To encourage the employment of aged workers, the CPF contribution rates for both employer and the aged employee were cut in July 1988. In 1993, the government raised the retirement age to 60.
Howe did not contest the general election in 1984. As a result of Howe's controversial report, the PAP lost 12% of the overall votes in that election, and conceded the Potong Pasir ward to Chiam. Howe retired from politics that year.
In a letter of appreciation to Howe on his retirement, the then Prime Minister Lee Kuan Yew said he was indebted to Howe for the devoted work he had put in for the people. Lee also predicted that when workers in their 20s and 30s reached their 60s, they would see how difficult it was for children to stretch their salaries to support aged parents. They would then be grateful to Howe for the furore he had stirred by the report on the problems of the aged.
self-help group Mendaki, the Council for the Development of Singapore Muslim Community.
From 1992 to 2000 he was the Executive Chairman of Great Eastern Life Assurance
, and from 1992 to 2007 the President and CEO for The Straits Holding Company, an investment
holding firm
. He was also Chairman of the Rendezvous Hotel Singapore and Rendezvous Hotels & Resorts International.
On 21 August 2007, Howe died in Singapore from a stroke
after having been hospitalised for three weeks. Several of Singapore's leaders, including Prime Minister Lee Hsien Loong
, Senior Minister
Goh Chok Tong
and Minister Mentor Lee Kuan Yew, attended Howe's wake. Howe's funeral was held at Mandai Crematorium on 24 August.
(Meritorious Service Medal). For his contributions to Singapore, Howe was awarded a Distinguished Service Order
in 1968. In 1971, the National University of Singapore awarded him with the honorary degree
of Doctor of Letters
(LL.D.).
Howe was also an Honorary Fellow of the Academy of Medicine, Singapore, and an Honorary Life Member of the Young Men's Christian Association of Singapore.
Minister (government)
A minister is a politician who holds significant public office in a national or regional government. Senior ministers are members of the cabinet....
in the Cabinet of Singapore
Cabinet of Singapore
The Cabinet of Singapore forms the Government of Singapore together with the President of Singapore. It is led by the Prime Minister of Singapore who is the head of government...
and a Member of Parliament
Member of Parliament
A Member of Parliament is a representative of the voters to a :parliament. In many countries with bicameral parliaments, the term applies specifically to members of the lower house, as upper houses often have a different title, such as senate, and thus also have different titles for its members,...
for Potong Pasir
Potong Pasir Single Member Constituency
Potong Pasir Single Member Constituency is a Single Member Constituency in the central region of Singapore.-Location:The SMC encompasses Potong Pasir, Lorong 8 Toa Payoh and Tannery...
from 1979 to 1984. He was key in developing Singapore's infrastructural and financial framework, including the Mass Rapid Transit
Mass Rapid Transit (Singapore)
The Mass Rapid Transit or MRT is a rapid transit system that forms the backbone of the railway system in Singapore, spanning the entire city-state. The initial section of the MRT, between Yio Chu Kang Station and Toa Payoh Station, opened in 1987 establishing itself as the second-oldest metro...
(MRT) system, Singapore Changi Airport
Singapore Changi Airport
Singapore Changi Airport , Changi International Airport, or simply Changi Airport, is the main airport in Singapore. A major aviation hub in Southeast Asia, it is about north-east from the commercial centre in Changi, on a site....
and public housing
Public housing
Public housing is a form of housing tenure in which the property is owned by a government authority, which may be central or local. Social housing is an umbrella term referring to rental housing which may be owned and managed by the state, by non-profit organizations, or by a combination of the...
. In 1984, during his term as Minister for Health
Ministry of Health (Singapore)
The Ministry of Health is a ministry of the Government of Singapore responsible for providing information, raising health awareness and education, ensuring the accessibility of health services, and monitoring the quality of health services provided to citizens and visitors in the Republic of...
, in order to address issues raised by a greying population, he made the controversial proposal to raise the age for the withdrawal of Central Provident Fund
Central Provident Fund
In Singapore, the Central Provident Fund is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare and housing needs. It is administered by the Central Provident Fund Board, a statutory board under the Ministry of...
(CPF) savings from 55 to 60 years in order that Singaporeans might have more money to live on in their old age.
Howe, who graduated from the University of Malaya in Singapore in 1953, also served as a senior civil servant
Civil service
The term civil service has two distinct meanings:* A branch of governmental service in which individuals are employed on the basis of professional merit as proven by competitive examinations....
, holding the posts of CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the Housing and Development Board (HDB) (1960–1970); Chairman of the Port of Singapore Authority (PSA), Permanent Secretary
Permanent Secretary
The Permanent secretary, in most departments officially titled the permanent under-secretary of state , is the most senior civil servant of a British Government ministry, charged with running the department on a day-to-day basis...
in the Prime Minister
Prime Minister of Singapore
The Prime Minister of the Republic of Singapore is the head of the government of the Republic of Singapore. The President of Singapore appoints as Prime Minister a Member of Parliament who, in his opinion, is most likely to command the confidence of a majority of MPs.The office of Prime Minister...
's Office and Head of the Singapore Civil Service
Singapore Civil Service
The Singapore Civil Service is the set of civil servants working for the Government of Singapore. Many of its principles were inherited from the administrative system left by the British Civil Service, as Singapore was once a British colony....
(1970–1979); Permanent Secretary of the Ministry of Finance
Ministry of Finance (Singapore)
The Ministry of Finance , is a ministry of the Government of Singapore responsible for administering and regulating financial institutions and structures of the economy of Singapore. It is headed by the Minister for Finance...
and Ministry of National Development (1979–1982); and Deputy Chairman of the Economic Development Board
Economic Development Board
-Overview:The Economic Development Board is a statutory board of the Government of Singapore that plans and executes strategies to sustain Singapore as a leading global hub for business and investment....
(EDB) (1979–1984). In addition, he served as Chairman of the Development Bank of Singapore
DBS Bank
DBS Bank Ltd is a bank incorporated in Singapore. It was previously known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank....
(DBS) (1970–1979, 1985–1990), Great Eastern Life Assurance
Great Eastern Life
Great Eastern Life Assurance is based in Singapore and the largest life insurance company in Singapore and Malaysia. It is also the oldest insurance company in Asia. It is the largest insurance group in Singapore and Malaysia with S$ 45 billion in assets and 3 million policyholders...
(1992–2000) and The Straits Holding Company (1992–2007).
Early life and education
Born in Singapore in 1923 of ChineseChinese people
The term Chinese people may refer to any of the following:*People with Han Chinese ethnicity ....
origin, Howe Yoon Chong was the son of a liquor shop owner who migrated to Malacca
Malacca
Malacca , dubbed The Historic State or Negeri Bersejarah among locals) is the third smallest Malaysian state, after Perlis and Penang. It is located in the southern region of the Malay Peninsula, on the Straits of Malacca. It borders Negeri Sembilan to the north and the state of Johor to the south...
, British Malaya
British Malaya
British Malaya loosely described a set of states on the Malay Peninsula and the Island of Singapore that were brought under British control between the 18th and the 20th centuries...
. Howe received his early education at St. Francis Institution in Malacca from 1933 to 1940, and was once a schoolmate of Minister Mentor
Minister Mentor
Minister Mentor is a Singapore cabinet position created in 2004 as part of a leadership transition.The newly appointed Prime Minister, Lee Hsien Loong , announced Lee Kuan Yew's new title together with the naming of his Cabinet on August 12, 2004...
Lee Kuan Yew
Lee Kuan Yew
Lee Kuan Yew, GCMG, CH is a Singaporean statesman. He was the first Prime Minister of the Republic of Singapore, governing for three decades...
at Raffles Institution
Raffles Institution
Raffles Institution , founded in 1823, is the oldest centre for pre-tertiary learning in Singapore. It is an independent school in Singapore providing secondary and pre-university education. RI consists of a boys-only secondary section , and a coeducational pre-university section...
in Singapore. He graduated with a Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
with Honours in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of Malaya
University of Malaya
The University of Malaya is located on a campus near the centre of Kuala Lumpur, and is the oldest university in Malaysia. It was founded in 1905 as a public-funded tertiary institution...
in Singapore (now the National University of Singapore
National University of Singapore
The National University of Singapore is Singapore's oldest university. It is the largest university in the country in terms of student enrollment and curriculum offered....
) in 1953.
Civil service career
Howe worked in the civil serviceCivil service
The term civil service has two distinct meanings:* A branch of governmental service in which individuals are employed on the basis of professional merit as proven by competitive examinations....
for almost thirty years. He began his career as a teacher, then was a broadcaster for a period before taking the post of an administrative officer in the British Colonial Secretariat
British overseas territories
The British Overseas Territories are fourteen territories of the United Kingdom which, although they do not form part of the United Kingdom itself, fall under its jurisdiction. They are remnants of the British Empire that have not acquired independence or have voted to remain British territories...
. Later, Howe was appointed as a police magistrate
Magistrate
A magistrate is an officer of the state; in modern usage the term usually refers to a judge or prosecutor. This was not always the case; in ancient Rome, a magistratus was one of the highest government officers and possessed both judicial and executive powers. Today, in common law systems, a...
and then secretary
Secretary
A secretary, or administrative assistant, is a person whose work consists of supporting management, including executives, using a variety of project management, communication & organizational skills. These functions may be entirely carried out to assist one other employee or may be for the benefit...
to Singapore's Public Service Commission.
In 1960, Howe became the first Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
(CEO) of the Housing and Development Board (HDB). From 1970 to 1979, he was the Chairman and President of the Development Bank of Singapore
DBS Bank
DBS Bank Ltd is a bank incorporated in Singapore. It was previously known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank....
(DBS), the first Chairman of the Port of Singapore Authority (PSA), the Permanent Secretary
Permanent Secretary
The Permanent secretary, in most departments officially titled the permanent under-secretary of state , is the most senior civil servant of a British Government ministry, charged with running the department on a day-to-day basis...
in the Prime Minister
Prime Minister of Singapore
The Prime Minister of the Republic of Singapore is the head of the government of the Republic of Singapore. The President of Singapore appoints as Prime Minister a Member of Parliament who, in his opinion, is most likely to command the confidence of a majority of MPs.The office of Prime Minister...
's Office, and the head of the Singapore Civil Service
Singapore Civil Service
The Singapore Civil Service is the set of civil servants working for the Government of Singapore. Many of its principles were inherited from the administrative system left by the British Civil Service, as Singapore was once a British colony....
. From 1979 to 1982, Howe became the Permanent Secretary for the Ministry of Finance
Ministry of Finance (Singapore)
The Ministry of Finance , is a ministry of the Government of Singapore responsible for administering and regulating financial institutions and structures of the economy of Singapore. It is headed by the Minister for Finance...
and the Ministry of National Development. He concurrently served as the Deputy Chairman of the Economic Development Board
Economic Development Board
-Overview:The Economic Development Board is a statutory board of the Government of Singapore that plans and executes strategies to sustain Singapore as a leading global hub for business and investment....
from 1979 to 1984.
During his tenure as a senior civil servant, Howe played the leading role in several of Singapore's iconic infrastructural projects like the Mass Rapid Transit
Mass Rapid Transit (Singapore)
The Mass Rapid Transit or MRT is a rapid transit system that forms the backbone of the railway system in Singapore, spanning the entire city-state. The initial section of the MRT, between Yio Chu Kang Station and Toa Payoh Station, opened in 1987 establishing itself as the second-oldest metro...
(MRT), Singapore Changi Airport
Singapore Changi Airport
Singapore Changi Airport , Changi International Airport, or simply Changi Airport, is the main airport in Singapore. A major aviation hub in Southeast Asia, it is about north-east from the commercial centre in Changi, on a site....
and public housing
Public housing
Public housing is a form of housing tenure in which the property is owned by a government authority, which may be central or local. Social housing is an umbrella term referring to rental housing which may be owned and managed by the state, by non-profit organizations, or by a combination of the...
.
Known by his civil service's colleagues as a fierce, tough-talking man, Howe debated vehemently with former Deputy Prime Minister Goh Keng Swee
Goh Keng Swee
Goh Keng Swee was the second Deputy Prime Minister of Singapore between 1973 and 1984, and a Member of Parliament for the Kreta Ayer constituency for a quarter of a century. Born in Malacca in the Straits Settlements into a Peranakan family, he came to Singapore at the age of two years...
over whether to build the MRT system in Singapore. Howe was strongly in favour of the MRT as the backbone of Singapore's public transport system, while Goh proposed a more economical all-bus alternative.
International airport
An international airport is any airport that can accommodate flights from other countries and are typically equipped with customs and immigration facilities to handle these flights to and from other countries...
in Changi. This was despite the Cabinet's decision for the go-ahead in 1972, based on a British expert's report that it would cost less to expand Paya Lebar Airport and that there was not enough time to get Changi built up to meet increasing traffic needs. Howe gathered a team to reclaim land
Land reclamation
Land reclamation, usually known as reclamation, is the process to create new land from sea or riverbeds. The land reclaimed is known as reclamation ground or landfill.- Habitation :...
, widened and extended the old Royal Air Force
Royal Air Force
The Royal Air Force is the aerial warfare service branch of the British Armed Forces. Formed on 1 April 1918, it is the oldest independent air force in the world...
airstrip to take Boeing 747
Boeing 747
The Boeing 747 is a wide-body commercial airliner and cargo transport, often referred to by its original nickname, Jumbo Jet, or Queen of the Skies. It is among the world's most recognizable aircraft, and was the first wide-body ever produced...
s and build the terminal. In August 1981, operations stopped overnight at Paya Lebar Airport and restarted the next morning at Changi Airport. Howe's role in setting up Changi Airport won him credit in Lee Kuan Yew's memoirs.
Howe also fast-tracked the public housing programme while serving as the HDB's CEO under then-chairman Lim Kim San
Lim Kim San
Lim Kim San ; was a Singaporean politician. He was credited for leading the successful public housing program in the Southeast Asian city-state during the early 1960s, which eased the acute housing shortage problem at that time....
in the early years, solving the chronic housing shortage in the 1960s. He undertook the politically and technically arduous task of starting up Toa Payoh New Town
Toa Payoh New Town
Toa Payoh New Town is the second oldest new town in Singapore, developed since 1962. It is home to the HDB Hub and hosts one of the country's three air-conditioned bus interchanges, the other two being the one in Sengkang and Ang Mo Kio...
, and faced organised opposition to the resettlement of Toa Payoh and the removal of squatters. As Chairman of PSA, now known as PSA Corporation, Howe went against the advice of professionals to build Singapore's first container terminal
Container terminal
A container terminal is a facility where cargo containers are transshipped between different transport vehicles, for onward transportation. The transshipment may be between container ships and land vehicles, for example trains or trucks, in which case the terminal is described as a maritime...
in the early 1970s.
Political career
Howe's first call to enter politics came as early as 1953 from Lee Kuan Yew, then a practising lawyer. However, he declined Lee's invitation as he believed that Singapore needed civil servants in light of the repatriation of British forcesBritish Armed Forces
The British Armed Forces are the armed forces of the United Kingdom of Great Britain and Northern Ireland.Also known as Her Majesty's Armed Forces and sometimes legally the Armed Forces of the Crown, the British Armed Forces encompasses three professional uniformed services, the Royal Navy, the...
during the post-World War II period. In 1979, Howe was again persuaded by then Prime Minister Lee and then-Minister for Finance Goh Keng Swee to enter politics, and he eventually agreed.
In 1979, upon being named as a People's Action Party
People's Action Party
The People's Action Party is the leading political party in Singapore. It has been the city-state's ruling political party since 1959....
(PAP) candidate in by-election
By-election
A by-election is an election held to fill a political office that has become vacant between regularly scheduled elections....
s called in seven constituencies, Howe said he hoped to serve no more than five years. After submitting his nomination papers in the by-election, Howe dismissed the opposition candidates, including independent
Independent (politician)
In politics, an independent or non-party politician is an individual not affiliated to any political party. Independents may hold a centrist viewpoint between those of major political parties, a viewpoint more extreme than any major party, or they may have a viewpoint based on issues that they do...
Chiam See Tong
Chiam See Tong
Chiam See Tong is a politician and lawyer from Singapore. He is the country's longest-serving opposition Member of Parliament . Between 1984 and 2011, he represented the constituency of Potong Pasir in Singapore's Parliament....
, as "court jesters" who had come out "to provide comic relief". Howe eventually beat Chiam with almost 67% of the votes to win the Potong Pasir
Potong Pasir
Potong Pasir is an area located between Toa Payoh and Sennett Estate in the North-East Region of Singapore. For urban planning purposes, it is classified under the Toa Payoh area. Potong Pasir is particularly notable for being the longest-held opposition ward in one-party dominant Singapore...
seat. In the 1980 general election, Howe again defeated Chiam for Potong Pasir, and duly served as the Member of Parliament for the constituency until 1984.
On 12 February 1979, Howe was sworn into the Cabinet as Minister for Defence
Ministry of Defence (Singapore)
The Ministry of Defence is a ministry of the Government of Singapore entrusted with overseeing the national defence needs of the Republic of Singapore. It is the headquarters of the Singapore Armed Forces...
. Directness being his hallmark, just six months after becoming Defence Minister Howe said that those who dodged national service
National Service in Singapore
Conscription in Singapore, called National Service , requires all male Singaporean citizens and second-generation permanent residents who have reached the age of 18 to enrol in the military...
ought to be looked upon as "pariah" in the community.
Howe relinquished his defence post to become the Minister for Health
Ministry of Health (Singapore)
The Ministry of Health is a ministry of the Government of Singapore responsible for providing information, raising health awareness and education, ensuring the accessibility of health services, and monitoring the quality of health services provided to citizens and visitors in the Republic of...
from 1982 to 1984. There, Howe became best remembered by Singaporeans for his controversial proposal in 1984 to raise the age for the withdrawal of Central Provident Fund
Central Provident Fund
In Singapore, the Central Provident Fund is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare and housing needs. It is administered by the Central Provident Fund Board, a statutory board under the Ministry of...
(CPF) savings from 55 to 60 years. At a news conference on 26 March 1984, Howe reasoned that Singaporeans could not depend only on their children in their old age. That suggestion, part of the 54-page report of the Committee on the Problems of the Aged which he chaired, was eventually dropped. However, the report that took 20 months to finalise remains an important document with its forward-looking strategies to support Singapore's greying population
Population ageing
Population ageing or population aging occurs when the median age of a country or region rises. This happens because of rising life expectancy or declining birth rates. Excepting 18 countries termed 'demographic outliers' by the UN) this process is taking place in every country and region across...
. Taking up the suggestions in the report, the Singapore Government subsequently introduced the Minimum Sum scheme. This allows workers to withdraw some of their CPF funds at age 55, setting aside a certain minimum sum which can only be withdrawn at retirement age, currently at 62 years. To encourage the employment of aged workers, the CPF contribution rates for both employer and the aged employee were cut in July 1988. In 1993, the government raised the retirement age to 60.
Howe did not contest the general election in 1984. As a result of Howe's controversial report, the PAP lost 12% of the overall votes in that election, and conceded the Potong Pasir ward to Chiam. Howe retired from politics that year.
In a letter of appreciation to Howe on his retirement, the then Prime Minister Lee Kuan Yew said he was indebted to Howe for the devoted work he had put in for the people. Lee also predicted that when workers in their 20s and 30s reached their 60s, they would see how difficult it was for children to stretch their salaries to support aged parents. They would then be grateful to Howe for the furore he had stirred by the report on the problems of the aged.
Later years
After leaving politics, Howe returned to DBS as Chairman and CEO in 1985 and served until 1990. In 1991, he helped to set up a managed fund, the Mendaki Growth Fund, for the MalayMalays in Singapore
Malays in Singapore are defined by the Singaporean government using the broader and antiquated "Malay race" concept, rather than modern-day Malay ethnic group. Although Malays have inhabited the area that is now Singapore since the 17th century, most of the Malays in Singapore today are immigrants...
self-help group Mendaki, the Council for the Development of Singapore Muslim Community.
From 1992 to 2000 he was the Executive Chairman of Great Eastern Life Assurance
Great Eastern Life
Great Eastern Life Assurance is based in Singapore and the largest life insurance company in Singapore and Malaysia. It is also the oldest insurance company in Asia. It is the largest insurance group in Singapore and Malaysia with S$ 45 billion in assets and 3 million policyholders...
, and from 1992 to 2007 the President and CEO for The Straits Holding Company, an investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
holding firm
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
. He was also Chairman of the Rendezvous Hotel Singapore and Rendezvous Hotels & Resorts International.
On 21 August 2007, Howe died in Singapore from a stroke
Stroke
A stroke, previously known medically as a cerebrovascular accident , is the rapidly developing loss of brain function due to disturbance in the blood supply to the brain. This can be due to ischemia caused by blockage , or a hemorrhage...
after having been hospitalised for three weeks. Several of Singapore's leaders, including Prime Minister Lee Hsien Loong
Lee Hsien Loong
Lee Hsien Loong is the third and current Prime Minister of Singapore. He is married to Ho Ching, who is the Executive Director and Chief Executive Officer of Temasek Holdings. He is the eldest son of Singapore's first Prime Minister Lee Kuan Yew....
, Senior Minister
Senior Minister
Senior Minister is a political office in the political system of Singapore taken by a prime minister or senior cabinet minister when he or she retires from that office, but still has something to offer the government based on his or her long experience...
Goh Chok Tong
Goh Chok Tong
Goh Chok Tong is the Senior Minister of Singapore and the chairman of the central bank of Singapore, the Monetary Authority of Singapore. He also served as the second Prime Minister of the Republic of Singapore from 28 November 1990 to 12 August 2004, succeeding Lee Kuan Yew, the former Prime...
and Minister Mentor Lee Kuan Yew, attended Howe's wake. Howe's funeral was held at Mandai Crematorium on 24 August.
Honours
In 1963, Howe received a Malaysia Medal and a Pingat Jasa GemilangPingat Jasa Gemilang
The Pingat Jasa Gemilang , instituted in Singapore in 1962. The Medal may be awarded to any person who has performed service of conspicuous merit characterised by resource and devotion to duty, including long service marked by exceptional ability, merit and exemplary conduct within Singapore...
(Meritorious Service Medal). For his contributions to Singapore, Howe was awarded a Distinguished Service Order
Distinguished Service Order
The Distinguished Service Order is a military decoration of the United Kingdom, and formerly of other parts of the British Commonwealth and Empire, awarded for meritorious or distinguished service by officers of the armed forces during wartime, typically in actual combat.Instituted on 6 September...
in 1968. In 1971, the National University of Singapore awarded him with the honorary degree
Honorary degree
An honorary degree or a degree honoris causa is an academic degree for which a university has waived the usual requirements, such as matriculation, residence, study, and the passing of examinations...
of Doctor of Letters
Doctor of Letters
Doctor of Letters is a university academic degree, often a higher doctorate which is frequently awarded as an honorary degree in recognition of outstanding scholarship or other merits.-Commonwealth:...
(LL.D.).
Howe was also an Honorary Fellow of the Academy of Medicine, Singapore, and an Honorary Life Member of the Young Men's Christian Association of Singapore.
Personal life
Howe was married to Wan Fook Yin. They had three children; two sons, Tet Sen and Tze Sen and a daughter, Hwee Siew and two grandchildren.Quotes
- As a person, you would have like him. He was a very genuine man and I respected him for that. But I always remember him as a man who was not a politician. He spoke his mind. He did not sugar-coat. -- Former MP Tan Cheng Bock
- I remember when he was MP for Potong Pasir, his voters came and asked him for all sorts of things. Some asked him to lower the CPF withdrawal age from 55 to 50. He scolded them: 'You all don't know what is good for you'. Somebody went to tell him he shouldn't scold his voters like that! -- Sim Kee BoonSim Kee BoonSim Kee Boon was one of Singapore's pioneer civil servants - men who worked closely with the Old Guard political leaders and played a key role in the success of Changi Airport and turned the fortunes of Keppel Shipyard around....
, on Howe when he first entered public service.
- Yes means yes. No means no. But when he said yes, he would go out of his way to help his residents. -- Teo Chong Tee, MP for Changi from 1976 to 1996, on Howe's firm management style.
- 'He stood for honesty and integrity...If someone made a wrong decision but at all times had told the truth, he would say, 'That's okay. -- Ms Elsie Foh, managing director of DBS Bank on Howe when he was once chairman of DBS.