Where have your CPF gone to???

[Poomer]

Temasek just bought a 2 page advertisement in today's Today paper to let us know they don't manage our CPF funds.

So is it in GIC? Or is Temasek beating around the bush and technically they are managing government funds, but it is money the government loaned from CPF. Nobody knows, I think their accountant also blur.

 

[oli9]

So who the fook is managing our CPF with such paltry returns? Might as well return back to us who are more investment savvy!!!!

 

[Dark Knight]

Sillypore gahbrament don't give you interests for free and lock up your CPF for nothing.

I think most likely that "someone" (related to Temah The Sick) who have given access to this huge pool of fund is no other than the following:
1) DBS Bank
2) OCBC Bank
3) MAS
4) GIC

 

[laksa]

It Temasek doesn't, then who manages the CPF money?

 

[Poomer]

So who the fook is managing our CPF with such paltry returns? Might as well return back to us who are more investment savvy!!!!

When it triples over ten years, it is their money. When it takes losses, it is your money. Simple?

 

[po2wq]

dey said dey manage their own invesmens n assets n dun manage ur cpf savings ... wat dey say is correct ... cpf savings is manage by cpf bord ...

but dey never say where dey get their moni from 4 their invesmens n assets ...

 

[escher]

If PAP transfers money out from cpf and hand it to Temasek and GIC, technically Temasek and GIC can claim they just took the money from PAP but not from CPF right. Nothing but lies and creative accounting.

They are the creation of smear of shit on sole of shoe Lee Kuan Yew.
They follow their creator principle of telling lies after lies after lies
And that all money belong to Lee Kuan Yew and not you.

 

[laksaboy]

Temasek just bought a 2 page advertisement in today's Today paper to let us know they don't manage our CPF funds.

Wow a 2-page advertisement? They're getting desperate with their propaganda.

The CPF money is part of the country's reserves. GIC, along with all statutory boards, have a constitutional right to tap on it for their own use.

Sure, technically you're not 'managing the CPF money', but it doesn't negate the fact that you've got your fingers in the cookie jar.

Here are some snippets from the Singapore Constitution, found at the Statutes website.

22B Budgets of statutory boards

(8) Where after 30th November 1991 a statutory board is specified in Part I of the Fifth Schedule pursuant to an order made under Article 22A(4), any reference in this Article to the approved budget of a statutory board for the preceding financial year shall, in relation to the first-mentioned statutory board, be read as a reference to the budget for the financial year of the first-mentioned statutory board during which that order was made.
(9) For the purposes of this Article, a proposed transfer or transfer (whether by or under any written law or otherwise) by any statutory board to which this Article applies (referred to in this clause and clause (10) as the transferor board) of any of its reserves to —
(a)
the Government;
(b)
any Government company specified in Part II of the Fifth Schedule (referred to in this clause and clause (10) as the transferee company); or
(c)
another such statutory board (referred to in this clause and clause (10) as the transferee board),
shall not be taken into account in determining whether the reserves accumulated by the transferor board before the current term of office of the Government are likely to be or have been drawn on if —
(i)
in the case of a proposed transfer or transfer of reserves by a transferor board to the Government — the Minister responsible for finance undertakes in writing to add those reserves of the transferor board to the reserves accumulated by the Government before its current term of office;
(ii)
in the case of a proposed transfer or transfer of reserves by a transferor board to a transferee company — the board of directors of the transferee company by resolution resolves that those reserves of the transferor board shall be added to the reserves accumulated by the transferee company before the current term of office of the Government; or
(iii)
in the case of a proposed transfer or transfer of reserves by a transferor board to a transferee board — the transferee board by resolution resolves, or any written law provides, that those reserves of the transferor board shall be added to the reserves accumulated by the transferee board before the current term of office of the Government.
(10) Any reserves transferred by a transferor board together with or under any undertaking, resolution or written law referred to in clause (9) shall be deemed to form part of the reserves accumulated by the Government, transferee company or (as the case may be) transferee board before the current term of office of the Government as follows:
(a)
where the budget of the transferor board for any financial year provides for the proposed transfer of reserves and the budget is approved by the President — at the beginning of that financial year;
(b)
where a supplementary budget of the transferor board provides for the proposed transfer and the supplementary budget is approved by the President — on the date of such approval by the President; or
(c)
in any other case — on the date those reserves are so transferred.

 

[blackmondy]

Lee Siah Sway: "You ask me, I ask w(ho) ?"

 

[Dark Knight]

Sillypore gahbrament keep saying that we don't know how to manage our own $$$.
If Sillypore doesn't have this CPF contribution scheme, will all the locals be much better off?

 

[wMulew]

Dumbfuck opposition supporting retard. It's managed by MAS. It's clearly stated on MAS website

 

[Poomer]

dey said dey manage their own invesmens n assets n dun manage ur cpf savings ... wat dey say is correct ... cpf savings is manage by cpf bord ...

but dey never say where dey get their moni from 4 their invesmens n assets ...

http://bschool.nus.edu.sg/LinkClick.aspx?fileticket=91h8yl55Smo=&tabid=1445&mid=5733

In 2008, CPF bought $250 billion worth of SG government bonds, in 2013, within 5 years the figure go up to $350 billion. Also don't know what our government doing with our money. No accountability.

 

[Poomer]

Dumbfuck opposition supporting retard. It's managed by MAS. It's clearly stated on MAS website

Where is it? I welcome you to quote it pap lapdog.

 

[Equalisation]

Where is OUR hard-earned CPF that is supposed to be given back to us at age 55 ??:oIo:

 

[Poomer]

Taken from http://www.gov.sg/government/web/co...y-041012-IstheresomethingwrongwithourReserves

The two types of Government debt securities are issued for reasons unrelated to the Government’s fiscal needs:


a) Singapore Government Securities (SGS) are marketable debt instruments issued for purposes of developing Singapore's debt markets. The principal objectives of SGS issuance are to: i) build a liquid SGS market to provide a risk-free benchmark against which other private debt securities are priced off; ii) foster the growth of an active secondary market both for cash transactions and derivatives, to enable efficient risk management; and iii) encourage issuers and investors, both domestic and international, to participate in the Singapore bond market. As at December 2011, SGS stock is valued at S$79 billion, while the stock of Treasury-Bills is valued at S$59 billion.


b) Special Singapore Government Securities (SSGS) are non-tradable bonds issued specifically to the Central Provident Fund (CPF) Board, Singapore’s national pension fund. Singaporeans’ CPF monies are invested in these special securities which are fully guaranteed by the Government. The securities earn for the CPF Board a coupon rate that is pegged to CPF interest rates that members receive. As at December 2011, SSGS stock is valued at S$216 billion.


The issuance of Government debt is solely for the above two purposes. As explained in item 5 and in Q11 on MOF’s website (http://app.mof.gov.sg/reserves_sectionone.aspx), the proceeds from the issuance of debt cannot be used to improve the investment performance of GIC or Temasek.

Taken from http://app.mof.gov.sg/TemSub.aspx?p...&pagemode=live&&AspxAutoDetectCookieSupport=1

Q12. Has the Government transferred funds to Temasek or GIC to show better performance?

No, the Government has not and does not transfer funds to Temasek or GIC to improve their performance figures.

In the case of Temasek, the Government is its sole shareholder. The Government injects capital into Temasek from time-to-time as part of the Government’s allocation of fresh flows of funds, and to allow Temasek to plan its future investment strategies. These capital injections are reflected in Temasek’s accounts and are made public.

It means the government doesn't transfer funds to Temasek or GIC to improve performance figures, but they transfer funds to invest. KONG SIMI LAN? If they transfer funds to improve performance figures, it's called cooking the books. Obviously you transfer money to invest la. KNN.

 

[johnny333]

We'll only find out where the money is when the PAP does not control Spore.
So what are Sporeans waiting for

After they find out the "hard truth" they can decide to re-elect the royal family or tar & feather them.

 

[Poomer]

CPF give MAS, MAS give Temasek/GIC. Now Temasek/GIC can boldly declare they never take money from CPF. Its all a big lie. Senor Equalization can kiss his CPF goodby. Me ditto.

Ya, I want to let him quote first ma, then kill his argument ma.

 

[leetahbar]

where ve our money gone is like singing this song "where ve all the flowers gone.." and this song ends with gone to soldiers everywhere. when will they ever learn....when will they e....ver... learn?

 

[Equalisation]

CPF give MAS, MAS give Temasek/GIC. Now Temasek/GIC can boldly declare they never take money from CPF. Its all a big lie. Senor Equalization can kiss his CPF goodby. Me ditto.

Many years have passed us by ?

 

[Poomer]

As the government themselves have admitted, they do borrow something in the region of $350 billion from CPF. They also admit they do invest in Temasek and GIC. It means they borrow from you, while investing in Temasek and GIC.

This means Ho Ching is playing wall street trader with your CPF money. Huat ah!