Why is GIC withholding and not returning CPF investment profits to CPF members OA/RA?
#11
1-1-2020 8:16 AM
sukhoi35 said:
CPF Board management adjusting pension funds interest rates higher basing on general election?

Are they a bunch of morons?

.Australia changed 8 PMs in short 7 years, Aussie interest should be 18% now.

Limpeh somehow feel the Sporeans are deprived from fair return from the money they contributed in CPF..they can get much more from putting their $ in insurance and annuity retirement scheme ..this situation is the opposite with other countries such as Malaysia, Australia ..

Maybe our Gahmen doesn’t really need our money that why offering such a Low return
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#12
1-1-2020 8:18 AM
Honestboy said:
Limpeh somehow feel the Sporeans are deprived from fair return from the money they contributed in CPF..they can get much more from putting their $ in insurance and annuity retirement scheme ..this situation is the opposite with other countries such as Malaysia, Australia ..

Maybe our Gahmen doesn’t really need our money that why offering such a Low return

Everyone feels cheated
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#13
1-1-2020 8:09 AM
Honestboy said:
It’s reviewed quarterly..so after the GE, might come down.

OA is only earning a merely pathetic 2.5%. The additional 1% is capped $20k of OA balance ..WTF Laughing

The problem with CPF management is using 1 and 2 years Singapore Govt Bonds rates from MAS as benchmark to pay CPF members pensions 30 - 40 years savings..

So, despite 30 - 40 years interest rates is apox 6% to 6.5% , CPF pays only 2.5%. - Its rubbish.
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#14
1-1-2020 7:30 AM
sudoku said:
Laughing Ugly004 T2

Why CPF Board do not allowed CPF members using their savings to buy Temasek 10 years and 15 years SGD bonds?

If I recalled correctly, in 2002_2003, Temasek issued 10 years or 15 years SGD Bonds yield @ 5.25% or 5.65%.
[+] 1 user Likes sukhoi35's post
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#15
1-1-2020 8:09 AM
Honestboy said:
It’s reviewed quarterly..so after the GE, might come down.

OA is only earning a merely pathetic 2.5%. The additional 1% is capped $20k of OA balance ..WTF Laughing

How can they do that to Singaporeans monies?

CPF is desperate. What a Cheapskate..?
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#16
Singapore is well known internationally for practicing the rule of law.

As Govt Fund Manager, GIC will have to honour its duty only as a service provider and vehicle to maximise CPF savings investment returns. Therefore, GIC has no rights to withhold or benefit anything at CPF members expense.

All related profits generated in 35 years + compound interests should be returned to CPF members.
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#17
OMG!

How?
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#18
31-12-2019 3:12 PM
wallstreetraider said:
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This is not all , there are many more ...

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#19
1-1-2020 3:15 PM
sclim said:
investment got win got loose. why not look at luckin?

Singapore is well known internationally for practicing the rule of law.

As Govt Fund Manager, GIC will have to honour its duty only as a service provider and vehicle to maximise CPF savings investment returns.

Therefore, GIC has no rights to withhold or benefit anything at CPF members expense.

All related profits generated over 35 years + compound interests should be returned to CPF members.
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#20
1-1-2020 4:06 PM
sukhoi35 said:
Singapore is well known internationally for practicing the rule of law.

As Govt Fund Manager, GIC will have to honour its duty only as a service provider and vehicle to maximise CPF savings investment returns.

Therefore, GIC has no rights to withhold or benefit anything at CPF members expense.

All related profits generated over 35 years + compound interests should be returned to CPF members.

my post reply was because the example companies listed was temasek one not gic one.

for your quote, i cannot understand your logic on gic withholding cpf money. accroding to gic web site they said they are only managing gov money and received a fee for it. all balances still belongs to government. cpf has arrangement with gov on how much gov pay cpf for the money put with it. i think like you deposit in bank and bank promise you a fd rate.
the most one can said is gov got a source of fund from cpf. cheap or not is another questions as gov can get their bond prices from 1+ % to 3+%. while cpf rate is 2.5 to almost 6% depending on type of account.
i m only hoping that government can top more excess money into retirement account since amount mentioned by minister sounds like money no enough for most retired. Please i ask for top up from government not hold more of cpf contribution money.
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