Another white skunk declares CPF system is robust

[Leepotism]

CPF recognised as robust internationally: DPM Tharman



SINGAPORE - Deputy Prime Minister Tharman Shanmugaratnam defended the Central Provident Fund (CPF) yesterday, saying it is recognised internationally as a robust and sustainable system.

"We've provided a guarantee and a very fair rate of return that is not easy to beat in the market," said Mr Tharman, who is also Finance Minister. "The difference in our case is that we take risk away from the ordinary citizen.

"If you're wealthy, you're well-off and you know how to manage a large amount of finances, then that's a different matter.

"But experience has shown in the United States, Europe and United Kingdom that for most people, it's not wise to put too much investment risk on them."

Following recent calls for more transparency about the CPF system, he said that it currently provides "very significant flexibility".

Members can use funds to pay off housing loans, while in retirement it provides MediShield cover. "Not everyone realises that the minimum sum is not $155,000 but it's half of that if you use your housing pledge," he said.

"Significant amounts of money can in fact be taken out to be used, to be saved as you wish or to be used to meet immediate means."

He further explained that the CPF Board invests entirely in Singapore Government securities, of which the interest rate is known.

The Government then takes on the risk itself through investments, mainly in the Government of Singapore Investment Corporation (GIC), as well as in the Monetary Authority of Singapore.

Even with the GIC publishing its returns, Mr Tharman said: "It doesn't affect the CPF member because he or she is assured of a fair rate of return with no risk."

This, he said, is unique among social security systems around the world. He cited pensioners elsewhere who have had their retirement savings wiped out because of the global financial crisis.

 

[Leepotism]

Note he said the system is unique. Another uniquely Singapore. Fuck this bastard Tharman.

 

[laksaboy]

Same guy who said $1k income can get you a flat.

Using international recognition as a source of validation now? A lot of the American financial institutions were also internationally recognized and highly rated right up till the subprime mortgage crisis. You point, baldie Ah Neh?

 

[virus]

how would they know if it is robust if they only hv the same amount of access as roy or KJ or CSJ? so how could they know any better?
hv CPF opened their books to the public to access? no? why not?

we know for sure how many of these international validation were available for the likes of Fannie Mae, Freddie Mac, ENRON, etc.

 

[halsey02]

Same guy who said $1k income can get you a flat.

Using international recognition as a source of validation now? A lot of the American financial institutions were also internationally recognized and highly rated right up till the subprime mortgage crisis. You point, baldie Ah Neh?

They come from the same 'basket', what do you expect? wasn't that $8 cow, & that publicity for the matt earning $800 can apply & acquired a flat in Punggol with a salary of around $800...it was in the shit press..?? but is that matt, still living there or is dependent on his "masters" for handouts??

 

[Leepotism]

how would they know if it is robust if they only hv the same amount of access as roy or KJ or CSJ? so how could they know any better?
hv CPF opened their books to the public to access? no? why not?

we know for sure how many of these international validation were available for the likes of Fannie Mae, Freddie Mac, ENRON, etc.

Right. If even the President of Singapore who is supposed to guard the wealth of Singapore does not know if CPF is solvent or not, how can this white skunk know even as a Finance Minister? The secrets`will only be out when PAP is not the government.

 

[johnny333]

People who have questions about the CPF are either being stone walled or sued

Makes one wonder why some famiLee members are so sensitive

 

[batman1]

Yeah Robust lanjeow.Knock his bald head with a poker and see whether it crack or not.

 

[halsey02]

People who have questions about the CPF are either being stone walled or sued

Makes one wonder why some famiLee members are so sensitive

People who often declare loudly & clearly, that, they are clean & honest, never are!. If one have nothing to hide...you can throw all sort of accusations, one, will never be sensitive to react...it is when you are subconsciously hiding things, you get sensitive with every disparaging remarks. Worst, every slight accusations....you want to fight for your HONOUR!

 

[escher]

SAME SAME SHIT FROM THE FUCKING PAP
WHY SHOULD I HAVE TO CHANGE WHAT I SAY?

PAP SHIT LOOKS THE SAME SHIT, SMELL THE SAME SHIT AND I DO NOT HAVE TO TASTE TO KNOW IT IS THE SAME SHIT
SO I CONTINUE TO SAY WHAT I SAY




Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.
BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.
Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.
Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.

PAP is finished.
The stinking glue and terror that hold PAP together is that old fart smear of shit on sole of shoe LKY. LKY is about to die in days or weeks.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP. Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.
None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.
They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.


WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS
WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN
WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.
AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.
https://www.torproject.org/about/overview.html.en

 

[Seee3]

"Not everyone realises that the minimum sum is not $155,000 but it's half of that if you use your housing pledge," he saiid.

Does the above statement means that one with more than $155k can also choose to pledge his property for half of 155k so that he can withdraw additional 77.5k? Is such an option available or cash must be used first and property can only be used when cash is not enough?

My understanding is that cash must be wiped up first then property can be considered.

 

[Leongsam]

My understanding is that cash must be wiped up first then property can be considered.

Your understanding is wrong.

 

[rotiprata]

Right. If even the President of Singapore who is supposed to guard the wealth of Singapore does not know if CPF is solvent or not, how can this white skunk know even as a Finance Minister? The secrets`will only be out when PAP is not the government.

we all know what to greece?...

 

[frenchbriefs]

He further explained that the CPF Board invests entirely in Singapore Government securities, of which the interest rate is known.

amazing paper shuffling here.thats like transferring ur million dollar assets to a $2 shell company....fucking scumbags are about as transparent as a insurance agent.

 

[Leongsam]

He further explained that the CPF Board invests entirely in Singapore Government securities, of which the interest rate is known.

amazing paper shuffling here.thats like transferring ur million dollar assets to a $2 shell company....fucking scumbags are about as transparent as a insurance agent.

What's wrong with Singapore government securities? Are they any worse than the securities issued by other governments?

Government securities are considered to be amongst the safest long term investments.

 

[scroobal]

After all these days he could not add any new information. Looks like they are stuck.

 

[frenchbriefs]

What's wrong with Singapore government securities? Are they any worse than the securities issued by other governments?

its like CHC setting up xtron and whats the other companies name,those companies(or securities) have no purpose,its just a "front" for transferring money from CHC to xtron so they can use it to fund sun ho's career.

this is what i call "leegalised" money laundering.

Pee A Pee will tell u we are not using ur money to gamble to invest,we are putting them into "government securities" which are absolutely safe,but its just a scam,the money from those securities are being taken and used for ho jinx mahjong activities.

 

[Leongsam]

After all these days he could not add any new information. Looks like they are stuck.

I honestly cannot see that there is anything more to add.

CPF is like a very flexible term deposit.

When a term deposit is placed with a bank, I could not care less what the bank does with the money as long as they pay me the interest accrued.

I have term deposits with Westpac which earned me 4.3% interest. Westpac made record profits last year but that does not mean that I have right to demand 6%. If I want to a share of Westpac's profits, I'll buy Westpac shares on the stockmarket. However, that also means I'm exposed to Westpac's losses should things turn pear shaped.

CPF is the same. It doesn't matter what Ho Jinx does, they still get guaranteed returns. If CPF members want better returns, there are a whole host of products they can invest in with their funds. The best bet is still property.

 

[halsey02]

"Not everyone realises that the minimum sum is not $155,000 but it's half of that if you use your housing pledge," he saiid.

Does the above statement means that one with more than $155k can also choose to pledge his property for half of 155k so that he can withdraw additional 77.5k? Is such an option available or cash must be used first and property can only be used when cash is not enough?

My understanding is that cash must be wiped up first then property can be considered.

We have to pledge our money, to get our money...what kind of logic is this & what kind of fools we have in the 60% & the SINgaporeans like us??

 

[Leongsam]

its like CHC setting up xtron and whats the other companies name,those companies(or securities) have no purpose,its just a "front" for transferring money from CHC to xtron so they can use it to fund sun ho's career.

this is what i call "leegalised" money laundering.

Pee A Pee will tell u we are not using ur money to gamble to invest,we are putting them into "government securities" which are absolutely safe,but its just a scam,the money from those securities are being taken and used for ho jinx mahjong activities.

You're entitled to your twisted and baseless opinion but the international markets view Singapore government securities to be up there with the best.

http://www.bloomberg.com/news/2012-...ers-in-shrinking-aaa-pool-southeast-asia.html

Singapore’s bonds are rising at a pace that’s more than 10 times their global peers as a prolonged debt crisis in Europe leaves the island state among just seven countries ranked as top-rated havens.

The securities are poised to return 11 percent this year on a U.S.-dollar basis, compared with a 0.9 percent advance for developed markets including Australia, Canada and the U.S., according to indexes compiled by Bank of America Merrill Lynch. The Singapore dollar has strengthened against 14 of its 16 major counterparts this year as the island’s central bank said in April it will allow faster gains to curb inflation.

The gain may draw more investors as Moody’s Investors Service lowered its rating outlooks forGermany to negative last month, further reducing the number of AAA rated sovereigns that aren’t at risk of downgrades. At 5.5 percent, Singapore boasts the world’s biggest budget surplus relative to economic output, adding to demand for its bonds and currency as Europe’s fiscal woes roil global markets.