How many CPF members want to invest in an Indian property developer, keechiu

CPF members have been severely shortchanged by the PAP government.

We were never consulted nor was there any debate before PAP decided to dump all our CPF in risky foreign assets.

PAP simply legislated CPF into GIC via conversion into SSGS which is then considered government assets. CPF is effectively a forced loan to the government: it therefore has the right to decide what to invest in and how much return to pay CPF members.

Questions:
Which Singaporean has invested 100% of his/her retirement savings in foreign assets? Any minister or perm sec? What about fund managers?
Which citizen in any country has invested 100% of his/her retirement savings in foreign assets?

Since only a fool will invest 100% of his retirement savings in foreign assets, isn’t the PAP government taking Singaporeans for fools? 😦

The problem today is the PAP has tweaked too many CPF rules to channel additional billions into GIC and it has been forced to invest at inflated prices. In 2006, CPF increased by only $11 billion annually. In the first 6 months of this year, $18 billion has been loaned to GIC from our CPF.
It is common knowledge that valuations are too high and GIC was aware of this a few years back. This is also the view of Warren Buffet – one of the greatest investors of all time. Read full article here.
With $8 billion per quarter from CPF members, GIC has no choice but to make billion-dollar bets because it cannot hold on to cash for long, unlike private fund managers.

The most recent billion-dollar bet was on an Indian developer, DLF, which has a huge amount of debt amid declining sales.
Because GIC is again taking such a huge stake, there is really no plan B.

Will any CPF member subject their retirement savings to high forex/political risks in a country ranked as Asia’s most corrupt?
Has proper due diligence been conducted to confirm DLF’s books have not been cooked? Sure or not, GIC?​

Which CPF member will invest in DLF, keechiu. Wow, total silence. 🙂

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