Has the stage been set to reduce CPF Life payout post GE2020?

Undeniably, PAP is good at increasing our costs or confiscating money from our CPF. 😉

In recent years, GIC has been hinting at lower CPF Life payouts by constantly reminding Singaporeans that it was expecting lower returns.

In 2014:
1budget35In 2015, GIC was more certain that lower returns would persist for up to a decade despite its best performance since 2005:
1budget32In 2016, CEO Lim grew even more pessimistic and expected “sharply lower returns” up to 2 decades:1budget33(If GIC expects poor performance, why are senior executives paid tens of million in remuneration?)

In 2017, GIC expected only lower (not sharply) returns to stretch for more than only 1 (not 2) decade:
1budget34PAP usually trumpets to the world its achievements.  So when GIC repeatedly warns Singaporeans that it has no confidence of generating even low returns, relative to risks, PAP could be setting the stage for another ripoff.cpfpropaganda10aShould PAP be returned to power post GE2020, it is likely to reduce government liabilities by billions every year – by reducing CPF Life payouts.

I anticipate this propaganda:
1budget36Retirees had better take note of PAP’s desperation for money.

While GIC – fund manager of CPF – has been blaming external factors for its past and future poor performance,  it is a totally different story across the causeway for EPF members who are probably laughing at our stupidity.  And all the way to the bank.
EPF dividends
2014 – 6.75%
2015 – 6.4%
2016 – 5.7%
2017 – 6.9%

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