Issue with CPF has always been huge retirement funding shortfall. Since decades ago.
PAP has never addressed this issue. Instead, additional billions have been channeled to GIC by:
– delaying payout,
– increasing Minimum Sum balance,
– allowing wealthier citizens to park more funds in the Retirement Account (Enhanced Retirement Sum) or
– increasing Medisave balance ceiling.
Is the PAP attempting to conceal massive investment losses in GIC?
If not, why fear transparency?