PM Lee’s handshake a cause for concern ;)

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Posted in HUMOUR | Leave a comment

CPF in good hands? Think again

Fact: Except for a handful of PAP elites, nobody knows where our CPF monies are invested.

The PAP government has repeatedly told Singaporeans a half truth: CPF is invested in special Singapore government bonds.

But if PAP had any intention of investing on behalf of ordinary Singaporeans to ensure retirement funding adequacy, CPF monies would have been invested in different classes of assets, eg equities, inflation indexed bonds, real estate, private equity, etc.

Instead, PAP simply legislated CPF monies as cheap loans to the government.

To complete the wayang, all who have been entrusted with the responsibility of jaga-ing our CPF (also part of reserves) are PAP appointees.1cpfsafeOur CPF retirement savings need not continue to be cheap loans to the government and could earn higher returns, similar to Malaysia’s EPF with average annual 6% returns for more than 3 decades.

Before this can happen, all PAP appointees need to be removed.  But how?

Thinking Singaporeans should by now be aware that there’s only one course of action to take. 😉

 

Posted in CPF | 2 Comments

Why I do not trust GIC to manage my CPF

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Temasek cannot disclose management cost, billions paid out in remuneration since Ho Ching became CEO

An increasing number of Singaporeans are demanding to know why Temasek Holdings is unable to disclose management cost.

The reason as most of us already know: Temasek senior executives are paid obscene amounts in tax dollars.

Like PAP ministers, Temasek rewards senior executives with 2 layers of bonuses, ie besides performance bonus, senior executives are paid a ‘Wealth Added’ (WA) bonus.

According to Temasek’s formula, senior management added about $100 billion in wealth to the company from FY2008 to FY2018 (figures from individual reports).
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The formula of course doesn’t make any sense because Temasek executives clearly did not add any wealth during this period but were paid generous WA bonuses in 3 years.1temasekwa2018a

(TR2018, see pg 35)

During the past decade, WA bonuses were paid out every year and just before the credit bubble burst, Temasek executives received record WA bonuses equivalent to their salaries and benefits.

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Ho must have ‘earned’ at least hundreds of millions in tax dollars during her 14 year tenure as CEO.

Including top senior executives, billions in bonuses and salaries must have been paid out since 2004.

Singaporeans should forget about begging PAP to disclose such embarrassing information as this will be a catalyst for its demise.

How and when will this information be disclosed?  I believe most thinking Singaporeans already know the answer. 😉

Like GIC, Temasek has also attempted to conceal information pertaining to its remuneration which I will post shortly.

 

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Posted in TEMASEK | Leave a comment

CPF monies belong to PAP after legislated as state reserves

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