With total control of Parliament, 100% of our CPF became government loans.
It can be said that without our CPF, Temasek would not be managing hundreds of billions today.
Despite having used our CPF, every profitable GLC has been transferred to Temasek whose senior management are rewarded with double-layered obscene bonuses.
Clearly, CPF members should be benefitting more than Temasek senior executives from PAP’s (ab)use of our CPF.
But, unfortunately, we have been receiving rock-bottom long-term returns for decades.