In an earlier post, I highlighted how PAP had scammed CPF members by depressing CPF interest rate to below the 12-month FD rate of commercial banks more than 4 decades ago.
Of course that wasn’t the only time we were scammed and there’s more evidence of daylight robbery.
From 1988 to 2007, CPF rates were depressed to below the yield of 5-year Singapore Government Bond (SGS) in 12 out of 20 years , .
(This is the yield which investors expect to receive for lending money to PAP government.)
Why were investors paid a higher rate for a 5-year loan but CPF members paid a lower rate for using our retirement savings for 3 to 4 decades?
Which idiot really believe PAP ministers when they claim CPF is not a cheap source of funds, please keechiu.
CPF members were clearly ripped off since decades ago, no?