Monthly Archives: July 2014

20140730 CPF questions and their ‘factual’ answers

Posted on July 30, 2014 by Phillip Ang

The PAP government needs to come clean on the CPF issue which has been festering for decades. Millions of words have been spoken and printed but CPF members remain in the dark. The PAP government will only lose more credibility … Continue reading →

Posted in CPF | 4 Comments

20140729 Huge 30-year Medisave M S increase to support privatisation of public hospitals, GIC

Posted on July 29, 2014 by Phillip Ang

The CPF Medisave Account Minimum Sum (MA MS) has increased at an insane rate since it was introduced in 1984. The government says that the yearly increase is to adjust for ”healthcare inflation”. But the “healthcare inflation” was clearly government-induced … Continue reading →

Posted in CPF | 6 Comments

20140726 HDB-CPF schemes to benefit citizens or a scam?

Posted on July 26, 2014 by Phillip Ang

The CPF system needs a revamp because the use of retirement savings to fund public housing is a flaw. The burden of a 30 year loan for public housing places undue stress on ordinary and low income citizens. HDB-CPF schemes … Continue reading →

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20140723 CPF – government insists on tweaking a broken system, sows more distrust

Posted on July 23, 2014 by Phillip Ang

I refer to “CPF system will evolve to meet changing needs: DPM Tharman” and “CPF under review to better buffer against inflation: Manpower Minister”. Both ministers were speaking at a CPF forum organised by IPS on 22 July. Recall we … Continue reading →

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20140722 CPF(no)Life scheme – 18% CPF members aged above 55 dead before reaching 65

Posted on July 22, 2014 by Phillip Ang

Is the CPF Life scheme for the living? According to ICA statistics, the answer is clearly ‘no’. Every year, almost 3000 Singapore residents above 55 will be dead before they can even receive one cent from their monthly payout at … Continue reading →

Posted in CPF | 1 Comment

20140721 World Bank President confirms PAP spends too little on healthcare

Posted on July 21, 2014 by Phillip Ang

I refer to CNA report “Singapore’s healthcare system lauded by World Bank President”. Dr Kim says “I don’t think there’s a single system in the world that spends as little as Singapore does …and gets the outcomes that it gets”. … Continue reading →

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20140720 GIC doesn’t manage all CPF monies, cannot provide higher returns

Posted on July 20, 2014 by Phillip Ang

CPF members have suggested our monies could be invested directly in GIC for higher returns. This is not possible because it will reveal GIC does not manage all CPF monies. Billions are used as cheap loans to HDB to finance … Continue reading →

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20140717 No reason for MPs and GIC to be afraid of CPF transparency issue

Posted on July 17, 2014 by Phillip Ang

GIC has been losing citizens’ trust in its management of our CPF monies. Although there are valid speculations about GIC’s solvency and huge investment losses, the government could have easily addressed this with more transparency. Instead, ministers and MPs prefer … Continue reading →

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20140716 Affected premium HDB flat owners should be given discount, consider legal action

Posted on July 16, 2014 by Phillip Ang

I refer to the recent complaints of defects found in new premium HDB flats in Anchorvale Horizon, Tampines Central 8 and most recently Tampines Greenleaf (complaints from 30% of units). All these projects were built during the period when HDB … Continue reading →

Posted in HOUSING | 5 Comments

20140715 CPF used by HDB for its concessionary loans to fund public housing purchase causes huge retirement savings shortfall

Posted on July 15, 2014 by Phillip Ang

The CPF is a multi purpose tool used for economic shortcuts by the PAP for decades. CPF is used for “HDB concessionary” loans for the purchase of HDB flats. CPF funds are first ‘converted’ into Special Singapore Government Securities and then … Continue reading →

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