Category Archives: CPF

CPF Board insolvent, every road leads to GIC

CPF Board (CPFB) has loaned $376.6 billion in members’ retirement savings to the PAP government. This gargantuan amount is used by GIC to speculate in highly-risky foreign assets.  Massive investment losses* have been covered up over decades and GIC is unable … Continue reading

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Still don’t understand why PAP cannot return all our CPF at 55?

All overseas investments by GIC – mostly using our CPF – are subjected to volatile exchange rate movements.  Some instances below. Over 15 years from September 2003 to September 2018, 1 billion pounds invested in UK assets would have been reduced by 36% to … Continue reading

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GIC, manager of CPF funds and state reserves, should not conceal lower S$ returns

Before 2010, GIC had disclosed annual returns in Singapore dollar. (GIC reports, see pg 10) In 2010, GIC decided to change its reporting currency from S$ to US$. There was no reason to change the reporting currency because all returns would … Continue reading

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Minister Jo Teo conceals failure of CPF scheme

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EPF’s success explains CPF’s failure

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