The PAP government should not continue to disseminate CPF half truths to justify the abuse of our CPF retirement savings.
PAP has tried to give the impression that our CPF has not been abused by telling CPF members that:
“(CPF) .. cannot be used to fund expenditures”
“No CPF monies go towards government spending”.
While CPF monies have indeed not been directly used to fund expenditures, CPF returns have gone towards government spending.
“The investment returns of our reserves [including CPF monies] supplement the annual Budget through the Net Investment Returns Contribution (NIRC).” MOF
An estimated 50% of CPF members’ returns have been used to help fund government expenditures.