PAP must disclose GIC’s real performance, multi-billion dollar losses will affect CPF members
For close to 3 decades, PAP has been paying CPF members extremely low long-term rates. Coupled with mandating a portion of CPF into the MA and SA, this has resulted in a huge retirement shortfall. Most Singaporeans have suspected the reason to be mounting losses at CPF fund manager GIC. In order to prevent GIC from collapsing,...
CPF fund manager, GIC, confesses to poor performance: without past high returns, future returns will be much lower
While GIC, fund manager of CPF, has been trying to conceal its poor performance, it may have inadvertently shot itself in the foot. CPF members would do well to scrutinize and understand the nonsense put out by GIC’s top management: the objective of tons of irrelevant information is to confuse and obfuscate. In an attempt...
One article on GIC by PAP-controlled media has a fake figure
On July 10, PAP-controlled media published a number of articles on GIC. According to ST, GIC’s portfolio was valued at S$489 billion Two articles on the same day quoting from the same source but two different figures? The S$15 billion question: Which article contains a fake figure? Phillip Ang * The author blogs...
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