Punggol East By-Election coming ? MP steps down

[Harlequin]

sinoboy:

Harlequin:

[quote=\"sinoboy\"]

I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money.

CPF is akin to bank saving, not investing with the bankers; be rest assured that our CPF will always be ours.

Well CPF will always be ours because we earned it. But I want to know if my CPF is safe. Did it ever go to unsafe investments and if it is not safe who do I look for. Perhaps someone can enlighten me. :scratchhead:[/quote]The gov/ CPF board underwrite it.

When you save with the banks, do you worry how the banks earn to pay your interest? Most of us are not bothered what investment risks the banks undertake.

[concern2]

3Boys:

Would you still vote for the WP if it says it would not spend money to subsidize public transport, will not spend more on education, but will raise taxes to fund other social programs like healthcare and elderly care?

Again, down to the supporters, and the ability of the party to take them where they may not want to go.

Why, you got insider info that this is their plan, iseeet?
See what they propose first loh...
If they stage another concert, I don't mind attending.. :evil: Staged by supporters also I don't mind paying to attend

[3Boys]

concern2:

3Boys:

Would you still vote for the WP if it says it would not spend money to subsidize public transport, will not spend more on education, but will raise taxes to fund other social programs like healthcare and elderly care?

Again, down to the supporters, and the ability of the party to take them where they may not want to go.

Why, you got insider info that this is their plan, iseeet?
See what they propose first loh...
If they stage another concert, I don't mind attending.. :evil: Staged by supporters also I don't mind attending..

Completely hypothetical. But it'll be nice to know that they can make hard and unpopular choices, and that their supporters will support them for it.

[concern2]

3Boys:

But it'll be nice to know that they can make hard and unpopular choices, and that their supporters will support them for it.

:skeptical: Is that what you guys call \"sweeping statement\" :nunchuk:

[pirate]

sinoboy:

But I want to know if my CPF is safe. Did it ever go to unsafe investments and if it is not safe who do I look for. Perhaps someone can enlighten me. :scratchhead:

There is no such thing as a \"safe\" investment.

If you put your money under your bed, there is a risk that it may get eaten by rats or termites. If you put it in a bank, the bank may go bust. If you buy gold and bury it in your garden, some dog may dig it up. If you buy government bonds, the return may not keep up with inflation. Even if you buy landed property in Singapore with a long investment horizon, there is a risk that Indonesia may build a nucleur power plant on Batam and the damn thing may suffer a reactor meltdown....

[sinoboy]

pirate:

sinoboy:

I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money. So perhaps somebody can enlighten me?

I believe the govt when they say that the CPF minimum sum and retiring age keep increasing because people are living longer.

You will get your CPF money back. The government only has to print (technically they just have to push a button on a keyboard now). Whether it has the same purchasing power as when you put it in is a different question. That will depend on the competency of the government between now and then...

(And to bring it back on topic) Which is why SDP, RP, SDA and the other whathaveyouparties will not be getting my vote anytime in the foreseeable future.

People are living longer but people are also losing their jobs and can't find suitable employment in their 30s and 40s either through retrenchment when employers finding costs here too high or losing jobs to FTs. So can't say people live longer so collect CPF later, when the fact is one leg is already in the coffin. Not everyone has a few properties to collect rents.

It would be a sad day for Singapore if our government has to print money to pay CPF obligations. Feels like a last resort thing. Can happen sooner than later without checks? :scratchhead:

[concern2]

pirate:

sinoboy:

But I want to know if my CPF is safe. Did it ever go to unsafe investments and if it is not safe who do I look for. Perhaps someone can enlighten me. :scratchhead:

There is no such thing as a \"safe\" investment.

If you put your money under your bed, there is a risk that it may get eaten by rats or termites. If you put it in a bank, the bank may go bust. If you buy gold and bury it in your garden, some dog may dig it up. If you buy government bonds, the return may not keep up with inflation. Even if you buy landed property in Singapore with a long investment horizon, there is a risk that Indonesia may build a nucleur power plant on Batam and the damn thing may suffer a reactor meltdown....

:rotflmao: :rotflmao:

[concern2]

sinoboy:

It would be a sad day for Singapore if our government has to print money to pay CPF obligations. Feels like a last resort thing. Can happen sooner than later without checks? :scratchhead:

Every Chinese New Year got print new notes, this year don't have.

[Harlequin]

sinoboy:

pirate:

[quote=\"sinoboy\"]I'm not sure if our CPF money is involved because it is not very apparent or transparent. I've always been curious why CPF minimum sum and retiring age keep increasing in tandem. I wonder who will be held accountable if excessive risks are taken. But then again those may not be the people's money. So perhaps somebody can enlighten me?

I believe the govt when they say that the CPF minimum sum and retiring age keep increasing because people are living longer.

You will get your CPF money back. The government only has to print (technically they just have to push a button on a keyboard now). Whether it has the same purchasing power as when you put it in is a different question. That will depend on the competency of the government between now and then...

(And to bring it back on topic) Which is why SDP, RP, SDA and the other whathaveyouparties will not be getting my vote anytime in the foreseeable future.

People are living longer but people are also losing their jobs and can't find suitable employment in their 30s and 40s either through retrenchment when employers finding costs here too high or losing jobs to FTs. So can't say people live longer so collect CPF later, when the fact is one leg is already in the coffin. Not everyone has a few properties to collect rents.

It would be a sad day for Singapore if our government has to print money to pay CPF obligations. Feels like a last resort thing. Can happen sooner than later without checks? :scratchhead:[/quote]I thought the CPF Board releases it's annual audited report? And, it's on full page on main papers.

[Irrelevant]

sinoboy:

But I want to know if my CPF is safe.

If you look at the credit ratings given to the Singapore govt, it IS AAA. And if you can read the balance sheet of the Singapore govt, I think you will agree with me that the assets far exceeds the liabilities. As such, it is as safe as can be.

sinoboy:

Did it ever go to unsafe investments and if it is not safe who do I look for.

This is a difficult question to answer. As you are aware of, money is fungible. All the money that goes into the purse of the govt becomes mixed. Undoubtedly, some of the govt's money has gone into investments like UBS and Micropolis. However, bad investments like that does not affect the ability of the govt to pay you back your CPF.