Actually hor if CPF is so good at giving us interest,why don't they open it up like a bank and let us deposit all we want?why settle for 20 % of our income when u can have 100%?After all ho jinx need all the mahjong money to buy the world.we give u billions u give us 2.5% interest.4% also can.
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The CPF Mystery that has befuddled the Nation
- Thread starter scroobal
- Start date
What a load of ignoramus rubbish....you mean you get married without testing your wife first? Fuck off lah, idiot.
You may try asking MBT how much is the cost to build a HDB flat. His silence or his sneaky avoidance to that question will befuddle you as well.
For national security and business competitive reasons always makes sense not to disclose certain things. Currently only MAS and Temasek's reserves / assets are disclosed but not GIC. GIC is our war chest.
Though the CPF component is the largest of 2 investment inflows, and the fact that we use 3 investment vehicles, the GIC size will still be hard to be determined. If the govt provides only the average historical returns from all three as a composite figure and attested by accountant general, that would be a good step forward.
Though the CPF component is the largest of 2 investment inflows, and the fact that we use 3 investment vehicles, the GIC size will still be hard to be determined. If the govt provides only the average historical returns from all three as a composite figure and attested by accountant general, that would be a good step forward.
i recall a high charged and emotional response by a HDB lady chief when she explained why the cost cannot be derived many years ago. It appeared like we asked her when she lost her virginity. At the end, no one was any wiser.
This is the biggest piece of rubbish that only a moron will belief. The future inverted population pyramid argument though an impending reality has been used as a scare tactic for years. We are not investing in 20 year US Treasury Note. If we were, this would not be an issue.
The fact that $7b comes into the govt coffers each year from the Net Investment contribution and that CPF funds is the largest component to generate the returns suggest that the big question needs to be answered. What is the actual returns from use of CPF funds?
The fact that $7b comes into the govt coffers each year from the Net Investment contribution and that CPF funds is the largest component to generate the returns suggest that the big question needs to be answered. What is the actual returns from use of CPF funds?
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the best old fart con job is deduct $500 from your CPF for legal fee go straight to Gecko purse issue legal toilet paper to you which you dont get to see.
Until JBJ kpkb it has to stop by then enough for Gecko to be super rich.
Until JBJ kpkb it has to stop by then enough for Gecko to be super rich.
For 49 years, this PAP keeps harping about the amount of subsidy that it gives out HDB home owners, and for others expenses, while not disclosing how much are they are taking away from an ordinary CPF members investment returns is not only cheeky but rather dishonest if the returns are actually substantial.
It's like you if you want buy a sofa set that can be found everywhere for $500 and the salesman in a particular store tells you he is losing money selling it to you for $700 and we have seen these type of sleazy types all the time.
It's like you if you want buy a sofa set that can be found everywhere for $500 and the salesman in a particular store tells you he is losing money selling it to you for $700 and we have seen these type of sleazy types all the time.
And now we have CPF Life. This one lagi better. Payouts are not guranteed. Only estimate given. At least CPF still spelt out the interest rates.
That Jinx can use this CPF Life money in even more risky investments. If lose money, simply reduce payouts. If make money, declare good bonus for Temasick staff.
That Jinx can use this CPF Life money in even more risky investments. If lose money, simply reduce payouts. If make money, declare good bonus for Temasick staff.
those days, $500 for legal fee for a flat that cost less than $30k for a 5 rooms was very high, a daylight robbery by the familee...will be good to know how much was robbed by the familee then.
anyone any idea how many flats were bought during those years?
anyone any idea how many flats were bought during those years?
I thought the more pertinent question is where is the difference disappearing to. Is it with GIC/Temasek? Or does it flow back to MOF? Or does it, as Roy suggest, flow to ...
by all fairness....why dont they just peg the monies in our CPF according to the annual inflation so that we do not lose the "real" value of the funds stuck inside???
if they carry on like this....there gonna be another fucking round of top up to 300k in the next few years boss....
WTF!!!!
if they carry on like this....there gonna be another fucking round of top up to 300k in the next few years boss....
WTF!!!!
my perspective comes from an average sinkie, like me, cpf serve its purpose but i feel there is not enough for me to retire and they should increase interest rates and not raise the minimum sum.
The short answer is that I doubt if the PAP themselves know what is the actual return. You can calculate the actual returns, but its very time consuming.
First, you would have to track all the CPF money that was sold as SSGS to MAS. Than you would have to see how MAS apportioned the money among the 3 of them (MAS/Temasek/GIC). For example, if $100 billion was sold to MAS as SSGS for a certain year, did MAS park 20% with itself, than 40% with Temasek, and the remaining 40% with GIC? So you have to work this out first, and every year, they have a different apportionment %. I do not believe that it is fixed. I have to believe that the breakdown is at least 50% for GIC because they are the far larger fund. This complicated by the fact that CPF funds is not sold to MAS as SSGS once a year, but instead perhaps monthly or several times a year. So, you would have to trace it like a dye and follow it as it goes through the system.
Once you have this apportionment breakdown, than you have to see what each of the agency did with their money. Using the above example, lets say that MAS bought bonds at 5% with their $20 billion (20%). Temasek maybe parked their $40 billion into a short term instrument and than used it with other funds to buy a company. So Temasek's share is now blended with funds from other investment to buy the company. And lets remember they buy lots of companies a year. Once Temasek sells the company and puts the funds pack into a short term instrument, you can than tell what rate of return CPF's $40 billion with Temasek got. You do the same for the GIC's $40 billion, although they are not as active in the company buying business.
At the end of the day, you take a weighted average of all these returns to arrive at the overall return from the $100 billion CPF money for that year. E.G. MAS's $20 billion made $100 million in interest, CPF's $40 billion earned $200 million (pro-rated) after the company it was used to buy was sold for profit, and similarly GIC's $40 billion earned $300 million. And lets say all of this happened within one calendar year. Than simplistically speaking, the rate of return for 1 year on CPF's $100 billion would be $600 million or 0.6% return. this is just an example. In the years that Temasek and GIC lose money, it will be a negative return.
In my mind, this is the only way i would use to accurately calculate the returns, Unless someone on this forum is a financial investment guru, they can come up with a more efficient way of doing so. I welcome other ideas on it too. Good thread, and in my opinion, these are some of the questions that WP should have been asking in Parliament.
U don't get it. The PAP has no intention of ever releasing the CPF to you.
Firstly, the PAP always fudges the inflation rate. In some years, the inflation rate was over 10% but they will say it was 5%. U can tell that so many economists in Singapore have hugely varying levels of projected inflation every year.
Secondly, if they raise the CPF rate too high, than it becomes a disincentive for sinkies to take their money out to buy flats. And selling the flats is where the PAP makes the most money.
Laughable...why should a service provider tell you how much money theyre making from you.
I might as well ask nike, singtel, louis vuitton etc to publish how much they actually make their products for.
Some businesses markup their goods by anywher from 300 to 1000 percent.
Consumers only need to worry about what price they pay.
And choose.
In this case of course, no choice....so the anger is understandable.
I might as well ask nike, singtel, louis vuitton etc to publish how much they actually make their products for.
Some businesses markup their goods by anywher from 300 to 1000 percent.
Consumers only need to worry about what price they pay.
And choose.
In this case of course, no choice....so the anger is understandable.
At the peak of HDB flat construction in the 70s and 80s, as many as 40,000 units was build a year, and every year, there were almost 35,000 build. u just have to look at how many total overall flats there are. there are about 1 million flats now in singapore. At one time, they were all new, and Lee and Lee had 90% of that conveyancing business. So, 900,000 X $500= $450 million. And this does not include resale flats which also need conveyancing and Lee and Lee has a fair chunk of that business. they also put the lowest paid, newest lawyer to do this sort of duty. hence, big profits for Lee and lee.
I have yet to see a logical explanation as to why there is a competitive reason or a national security reason to keep it secret.
hahaha....it is not that there is no logical explanation.....anyboby with half a brain will know that in the financial world, u don't make money by telling the whole world what you have done and plan to do...
i do not see the need to elaborate as you never change your position despite overwhelming evidence....
you are basically a bapok and stubborn empty vessel..
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