If we adopt a pension system like the canadians,we can live happily in retirement as well,CPF is a scam and a utter failure,it is robbing hundreds of thousands of sinkies of their well deserved retirement.
CPF is archaic,outdated and a monstrous relic.
the only hope of sinkies achieving a comfortable and sustainable retirement is to learn how to invest themselves,or vote for the removal of the CPF system in favour of Canada's pension system.
the annualized return of CPP since 1999 is 8%,current CPP manages assets of over 280 billion,it is one of the largest pension funds in Canada.
CPP Investment Board
The CPP Investment Board, formally the Canada Pension Plan Investment Board, is a Canadian Crown corporation established in 1997 to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP). As of December 31, 2015, the CPP Investment Board manages over C$282 billion in investment assets for the Canada Pension Plan on behalf of eighteen million Canadians.[1]
The Canada Pension Plan was first established in 1966. For much of its history, the plan relied on contributions to pay benefits. By 1996, the federal government had determined that the CPP as currently constituted was unsustainable.[2] Major changes to the plan occurred, leading to a gradual increase in the contribution rate to its current 9.9% and the creation of the CPP Investment Board.[2]
Under the direction of then Minister of Finance Paul Martin, the CPP Investment Board was created by an Act of Parliament in 1997 as an independent, but accountable, body to monitor the funds held by the Canada Pension Plan. The CPP Investment Board began its investing program in 1999, establishing the CPP Reserve Fund to hold investment earnings and CPP contributions not needed to pay current pensions.[3] It reports quarterly on its performance, has a professional board of directors to oversee the operation of various aspects of the CPP reserve fund, and also to plan changes in direction. As a Crown corporation, the CPP Investment Board is accountable to Parliament and reports annually through the Minister of Finance. While accountable to Parliament, the CPP Investment Board is not controlled by the government or subject to government appointments, its employees and directors are not part of the Public Service of Canada.
Mark Wiseman is the current Chief Executive Officer of the CPPIB, replacing David F Denison on July 1, 2012.[6]
According to the 2013 Annual Report, about 63% of the fund's assets are now invested outside Canada, largely in the United States, Europe and Asia. In addition, the CPPIB has been broadening the scope of its investments to include emerging markets, although Mr. Denison, CEO at the time, would not pinpoint a specific country or area. “Canada as a single market cannot accommodate the future growth of our organization,” said Mr. Denison.
In recent years, the CPPIB changed direction in its investment philosophy. It evolved from investing exclusively in non-marketable government bonds to passive index-fund strategies and, in 2006, to active investment strategies.
Date Net Asset Value (CAD)¹ Rate of Return (annual)²
Mar 2003 $55.6 Billion -1.1%
Mar 2004 $70.5 Billion +10.3%
Mar 2005 $81.3 Billion +8.5%
Mar 2006 $98.0 Billion +15.5%
Mar 2007 $116.6 Billion +12.9%
Mar 2008³ $122.7 Billion -0.29%
Mar 2009 $105.5 Billion -18.6%[15]
Mar 2010 $127.6 Billion +14.9%[15]
Mar 2011 $148.2 Billion +11.9%[15]
Mar 2012 $161.6 Billion +6.6%[15]
Mar 2013 $183.3 Billion +10.1%[16]
Mar 2014 $219.1 Billion +16.5%
Mar 2015 $264.6 Billion +18.7%[17]