Have we been shortchanged via our CPf. How much of our national reserves r rly left?

[XclandestineX]

Let's recall back in 1993 when our ex-president Ong Teng Cheong had asked parliament how much is our national reserves, the reply he received was that it will take 56 man years to produce a dollar and cents value of the immovable assets

 

Not only was the PAP government displeased with the question but obviously they took it personally and even went to the extent of depriving him a state funeral when he died in 2002 even though he was a Singapore president.

 

Fast foward to 2010 and Singapore is currently ranked no 9 on the list of Public Debt by Countries -> http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

ranked by the CIA world factbook.

 

FYI from CIA world factbook:

for Singapore, public debt consists largely of Singapore Government Securities (SGS) issued to assist the Central Provident Fund (CPF), which administers Singapore's defined contribution pension fund; special issues of SGS are held by the CPF, and are non-tradeable;

 

Which simply means that the Singapore government borrows our money from the CPF by selling Singapore Government Securities to the CPF board. N of course these funds are given to the GIC and Temasek via ministry of finance.

 

BUT what is more suspicious is the retirement age to get the CPF in cash, has been moved from 55 to 62 and even proposed to be raised to 65, not mentioning the minimum sum policies that were put up to further limit the cash we should be getting from our own money and to top it all up, the Special Accounts and Medisave Accounts interest rates would be reduced or be left to fluctuate according to CPF board instead of the stable 4% before the 31st Dec 2011.

 

http://mycpf.cpf.gov.sg/Members/Gen-Info/Int-Rates/Int-Rates.htm

As announced on 20 September 2010, the Government will maintain the 4% p.a. minimum rate for interest earned on all Special and Medisave Accounts (SMA) and Retirement Account (RA) monies until 31 December 2011. Thereafter, interest rates on all CPF account monies will be subject to a minimum rate of 2.5% p.a.

 

Taking into account the inflation rate we are experiencing for the past 40 plus years which has been 2.73%YOY (year on year) and the inflation rate which in 2011 itself is around 5% and rising further.

http://www.tradingeconomics.com/Economics/Inflation-CPI.aspx?symbol=SGY

 

Would this not mean that we are being shortchanged on our CPF money when we finally get to draw out the cash at retirement age, as our Ordinary Account interest rates are only 2.5%?

 

Imagine getting $1 today which could afford you to buy a can of coke and compare it to getting it a year later when the can of coke costs $1.05 because of inflation at 5% and you could not afford it anymore.

 

Now take the above scenario happening to hundreds of thousands of dollars of your CPF money.

This would mean that the money in your CPF account is being devalued overtime even as you are sitting down reading this article here.

 

By the time you retire and receive the cash, it would not only be of much lesser value, as compared to the value it has today but also, you would have lost soooo many opportunities because the money sitting in your CPF account can't be taken out and at the same time devaluing itself via inflation.

 

Not to mention the government is trying to limit the amount of cash you could receive at retirement age with the minimum sum policies

And the ever rising retirement age which altogether diminishes any opportunity for you to drastically change or improve your life in any way.

 

Economics 101 : "Opportunity lost can be more precious than monetary lost" Cos opporunity lost would include time that is lost, remember the saying "In a flowing river, u can't touch the same water twice" applies to time too.

 

Lastly, we should also consider the rising HDB prices, could this be part of a plan to leave Singaporeans with lesser lump sum cash for their retirement and lose all opportunities alltogether????

 

 

 

So what could be the reason, the government is trying hard to shortchange us on our CPF money???

 

For this question we have to take the countless failure and investment mistakes the GICs and Temasek holdings has been able to keep a secret from us

so far. As we all know such information is not made available to the general public.

 

http://www.temasekholdings.com.sg/media_centre_faq.htm

Temasek has been granted the status of an exempt private company. As an exempt private company, we are not required to disclose financial information.

 

But we could bring out some questionable transactions that Temasek Holdings had executed such as the sale of our power plants since 2008

http://www.temasekholdings.com.sg/media_centre_news_releases_2008.htm

1. Temasek successfully completes divestment of Tuas Power - Power genco sold to China Huaneng Group for S$4.235 billion
   
2. Temasek sells Senoko Power to Japanese consortium-Power genco sold to Marubeni-led Lion Power consortium for an enterprise value of about S$4.0 billion
   
3. Temasek sells PowerSeraya to YTL Power International for an enterprise value of S$3.8 billion
   

So why are our national assets being sold to foreign entities or a portion of it sold off to them, one by one?

 

I am sure our telecommunication industries were one of the first to go. Next maybe could it be our national education or how about our transportation system?

 

Will SMRT etc be the next target since it is already privatised and how about our national healthcare system?

 

It is already getting itself ready by changing itself into a corporation called NHG.

 

We have heard ministers echoing that our medisave accounts will not be enough to cover our hospital expenses and medical needs in the future and we might need some kind of safety net in terms of private insurance, right?

 

Will this mean that our hospitals and polyclinics are to be privatised and sold away too and instead of just relying on our medisave accounts to suffice for our medical needs, we would need to qualify for private insurance because medical costs goes sky high after privatisation and sold to foreign entities that are out to maximise profits.

 

Just like how we are suffering from higher and higher electricity bills cos our power plants were all sold to foreign entities.

 

What is next on line on the Great Singapore Sale? God forbid that our HDB too becomes a target later! Cos MBT is promoting his DBSS HDB flats right, and private developers are slowly creeping into HDB projects nowadays.

 

 

So let us put the facts together now,

 

No 1.We are ranked 9 in the world on the list of countries by public debt. Public debt meaning the CPF money that the government owes to us.

 

No 2.The government trying very hard to shortchange us via our CPF

• by handing us our money much later, making us lose opportunities (by raising retirement age),
  

• letting the money devalue itself via inflation (inflation higher than OA interest rates and revision of SA and Medisave interest rates)
  

• handing us lesser cash when we really reach the retirement age thus losing alltogether any opportunites that might be present (minimum sum policies)
  

• Lastly raising the prices of new HDB flats which were built by the government for its citizens (so that the citizens have lesser cash at retirement since the HDB flat takes a huge portion of their CPF funds)
  

No 3. Privatisation and selling of our national assets such as our power plants etc.

 

I believe a search on the net would surface thousands of reports regarding Temasek and GICs investment failures, which are all over the financial news.

 

So, could we then assume that our sovereign funds/CPF or national reserves had been majorly affected via Temasek Holdings and the GICs investment mistakes?

 

Thus could our CPF money been squandered away through these investment failures?

 

Whatever it is, we need transparency and accountability immediately, on our CPF/Sovereign Fund and all our national reserves to be declared and made known to its citizens.

 

Plus also the government to stop shortchanging us on our CPF and proof to us that all the money is there and we are be able to access it at any age to avoid any "opportunity lost" or chance of it being devalued via inflation.

 

Finance 101 "Dollar u receive today cost more than dollar u receive tomorrow" and "Cash is King, not credits, cpf figures or account balances"

[cougar]

yup, from the looks of it, we are not gona make it.

[XclandestineX]

yup, from the looks of it, we are not gona make it.

I am very very very worried for our nation my friend, I hope what I said above is not true

but the more we look at it, the more clearer the picture looks. Like looking at a old chinese paintings

where the background which is usually plain in color starts to come out details that become clearer and clearer after staring for a long time.

[cougar]

I am very very very worried for our nation my friend, I hope what I said above is not true

but the more we look at it, the more clearer the picture looks. Like looking at a old chinese paintings

where the background which is usually plain in color starts to come out details that become clearer and clearer after staring for a long time.

 

why worry, you are not paid to worry about it. Just move on, cant depend on others, some migrate, some believe, some still blur blur. What to do.

 

If you really want to play on the brink of the financial system, live extravangantly on credit, when the system fails, you get away with it. Its a risky biz, because you cant predict when the system breaks, sometimes those in control also get caught.

[XclandestineX]

why worry, you are not paid to worry about it. Just move on, cant depend on others, some migrate, some believe, some still blur blur. What to do.

 

If you really want to play on the brink of the financial system, live extravangantly on credit, when the system fails, you get away with it. Its a risky biz, because you cant predict when the system breaks, sometimes those in control also get caught.

 

I guess u are one step ahead to be able to make such choices my fren.

But for the rest of the ppl who has families, has hdb flat repayments to worry about, their elderly parents to care for etc..

Taking an individualistic choice such as u had suggested seems unthinkable

Yes i am not paid to worry but collectively when the whole nation suffers from the above plight, everyone will get affected, and by then, not only me will worry......

[cougar]

Sometimes ignorance is bliss, or being simple minded can be truly happy. Blessed with intelligence is a curse? Since you know the outcome, then make plans, face worst case scenario. I still need to worry what.

[XclandestineX]

Sometimes ignorance is bliss, or being simple minded can be truly happy. Blessed with intelligence is a curse? Since you know the outcome, then make plans, face worst case scenario. I still need to worry what.

yes ignorance is bliss and we are being "Fattened up with lies to wake up one morning to discover that we are the turkey for thanksgiving"

 

 

well let's proceed on to the truth then..

http://furrybrowndog.wordpress.com/2011/03/19/a-comparative-analysis-of-real-cpf-returns-and-other-provident-funds/

read the article above and weep ppl,

 

http://farm6.static.flickr.com/5150/5649421296_1cc64d9ed1_b.jpg

 

u can see how much lower our CPF interest rates are compared to malaysia's epf, india's pension scheme and the potential of higher returns the HKongers could be getting .. N we are supposed to be a developed nation with one of the highest GDP per capita in the world????

 

Only Sg has the minimum sum policy, the retirement age made to jump from 55 to 62 n proposed to 65 and interest rates that are way below inflation rates.

 

Yes the CPF is supposed to take care of its citizens in terms of housing, sickness, retirement etc but it has obviously been abused by the PAP with their GIC and Temasek Holdings over the years and been used as a tool to shortchange its citizens by billion of dollars collectively.

 

N still they can give our hard earned CPF money to their "YES SIR, yes sir three bag full" ministers million and millions of dollars of pay?!!

[XclandestineX]

Sometimes ignorance is bliss, or being simple minded can be truly happy. Blessed with intelligence is a curse? Since you know the outcome, then make plans, face worst case scenario. I still need to worry what.

 

We are already seeing signs of this dreadful scenario right now in the present. Most Singaporeans are politically apathetic – they simply do not care what happen to their nation. The young has no sense of belonging – one third of them want to emigrate to greener pastures elsewhere. The ruling elite is out of touch with the people and they don’t realize it because the state media keep spinning only the untruths which they want to hear and not the bitter reality on the ground. Singapore will still top the international charts for the best institutions, infrastructure, education and economic stability, but deep down inside, the fabric which binds the nation together is crumbling apart for without the people, our most important asset, Singapore will never go far.

 

Above written by Eugene Yeo -> http://www.temasekreview.com/2009/09/16/the-pap-in-crisis-part-4-likely-post-lky-scenario-and-implications-for-singapore/

 

the sad truth if things continues without any change in this coming GE.

[cougar]

sg is a ridiculous country to tour now, imagine being serve in hospitality staff from PRC, pinoy, indians? Where's all the singaporeans? I go hong kong i speak cantonese, korea speak korea etc. But once you reach sg, you dont feel like you in a new country, more like a hotel.

[XclandestineX]

sg is a ridiculous country to tour now, imagine being serve in hospitality staff from PRC, pinoy, indians? Where's all the singaporeans? I go hong kong i speak cantonese, korea speak korea etc. But once you reach sg, you dont feel like you in a new country, more like a hotel.

Not only u and me feel this way my fren, alot of born bred here Singaporeans feel this way too. The only reason this is happening is because of the PAP govn's irresponsibilty to the Singapore people. I urge ppl to consider properly in this coming election for their children, their parents and most important themselves.

 

 

 

 

and BTW....... SINGAPORE is not PAP. SINGAPORE belongs to the people.

We need to reclaim back our land together.

Edited April 25, 2011 by XclandestineX

[XclandestineX]

not only u and me feel this way my fren, alot of born bred here singaporeans feel this way too. The only reason this is happening is because of the pap govn's irresponsibilty to the singapore people. I urge ppl to consider properly in this coming election for their children, their parents and most important themselves.

 

 

 

 

And btw....... singapore is not pap. singapore belongs to the people.

we need to reclaim back our land together.

 

majulah singapura!

[bukitmerah]

Alamak...mian kong an-ni sway ( no need talk so much )

 

want to know the truth ? vote for a government that really care for it's citizens instead of one that tell you if you don't pay me millions ( world-highest salary ) i don't help you run the country but even when you peasants do pay me millions, you still won't get world-highest pay in your profession unless you become a Minister of XXX ( No portfolio also can, minister of NOTHING ).

 

FAIL? then 2nd option... vote for a President that will "force" the government to disclose the truths about all that money instead of someone that don't care, keep quiet & collect MORE than $ 4 MILLION A YEAR.

 

No dare ? then you lan lan. No choice lor.

If Singaporeans no show their "colour", guts & power...then we only have to remain as "ball-less" cowardly slaves for another 5-6 years . Boh pian.

 

Don't complain. WE asked for it. Singaporeans ( the majority anyway ) chose to be slaves. WE chose to be cowards. WE chose to be fooled. WE chose to be bullied. WE chose that in 1997, 2001, 2006. WE chose to let them suka suka disqualify people for President. So Mai kow pei.

 

Lee Hsien Loong was voted in by AMK in GE 2006. Mah Bow Tan was voted in by Tampines voters in 2001 & 2006. WE GOT WHAT WE DESERVE.

 

AMK still sleeping? Tampines still not awake? Tanjong Pagar still dreaming about the glorious past that happen 40 years ago ? Aljunied still don't mind? East Coast still believing in Ministry of Manpower ? Sembawang senior citizens will love to retire in JB ?

 

DON'T COMPLAIN. JUST WAIT 56 YEARS LAH

[cougar]

Don't complain. WE asked for it. Singaporeans ( the majority anyway ) chose to be slaves. WE chose to be cowards. WE chose to be fooled. WE chose to be bullied. WE chose that in 1997, 2001, 2006. WE chose to let them suka suka disqualify people for President. So Mai kow pei.

 

sometimes is not we didnt vote, its the boundaries anyhow draw until like jiggsaw puzzle lidat. Actually Sg so small, no need constiuency (con-till-u-si), just lump the whole country together and vote also can what, we are as small as other countries' single state you know or not. Even smaller thant Johor next door.

 

Sg really do alot of unnecessary things, thats why costs so high, all si lang zhou eh.

[bukitmerah]

BTW, you no need to be President to get state funeral. Ong Teng Cheong no get ah, TOO BAD LAH.

 

a certain old lady that HAS NEVER HELD official post in the government STILL got a grand 'state' funeral last year? PRESIDENT ALSO NO HAVE. I KNOW ...JUST TOO BAD YOUR EGO GOT HURT AH ( Mr. Ong & family ). YOU NO LUCKY MAH. WHO ASK YOU ASK SO MANY QUESTION ?

 

Why MR ONG want to act clever? JUST KEEP QUIET & YOUR SALARY WILOL BE INCREASED TO 4 MILLION BUCKS A YEAR FOR 6 YEARS. MAY BE MORE IF LATER INCREASED SOME MORE. HAHAHA....

 

Anyway, what is the big deal about selling our National assets?

 

Singaporeans have LONG AGO LONG LONG TIME SOLD OUT OUR freedom, independence, common sense, guts, rights.

 

WHY? HERD MENTALITY. FALSE SENSE OF SECURITY. NAIVETY. FOOLISHNESS.

 

BELIEVING IN THE MYTH THAT STABILITY & SECURITY IS MORE IMPORTANT THAN QUESTIONING OUR "SMART" GOVERNMENT.

 

It is 2011, i still don't believe how many people are still living in the 70s in their minds. Still believing in the past propaganda. they are too busy being a slave to even develop independent thought. What to do? Mas Selamat limping leg can run FASTER than Slave minds that have not even crawl since LKY is PM.

Edited July 25, 2011 by bukitmerah
spelling

[cougar]

It is 2011, i still don't believe how many people are still living in the 70s in their minds. Still believing in the past propaganda. they are too busy being a slave to even develop independent thought. What to do? Mas Selamat limping leg can run FASTER than Slave minds that have not even crawl since LKY is PM.

 

Wah u talk like ah beng, but sounds beri clever leh.

[XclandestineX]

Wah u talk like ah beng, but sounds beri clever leh.

must be Chee Soon Juan's good fren

 

but good words! What he said was true. But i do not wish it to be true now where

all singaporeans are just lambs following herd mentality and leading themselves to a

slaughter by blindly voting for the PAP.

[bukitmerah]

Wah u talk like ah beng, but sounds beri clever leh.

 

i AM a ah beng. that is why i talk like one. i no go U, no go poly. no go school kanna brain-washed by "Grandpa Harry textbooks" like some of the young GRADUATES i met that believe in fairy tales & myths.

 

i was a private infantryman that go jungle & not even a 'scholar' officer in NS. i get paid peanuts for my reservists but no choice.

 

i started work 15 years ago as a construction worker for $800+ a MONTH. I no sit air-con office & wear tie. Office Ladies no look at me cause i am short, fat, ugly, smelly, dirty & POOR. i never enjoyed the "good" times & "bonuses" & "promotions" & "pay-rises" or even worse "WORLD HIGHEST PAY". i cannot even afford vietnam wife.

 

*Deleted paragraph - i apologise & wish to state here i did not intend to offend anyone. i am sorry if i had rashly offend anyone. *

 

i see BRAND NEW BIKE GOT COE, GST, LTA REGISTRATION FEE, IU installation fee, minimum 2nd party insurance. After adding all these "misc" fees, i see a FEW THOUSANDS dollars go to government, & I STILL HAVE NOT EVEN BOUGHT ANYTHING NOT EVEN A SINGLE SCREW on the new bike.

 

IMAGINE PAYING 3 months salary just for nothing. NO even buy 1 thing yet. NEW BIKE PRICE EXCLUDED.

 

*Deleted paragraph - i apologise & wish to state here i did not intend to offend anyone. i am sorry if i had rashly offend anyone. *

 

i know what i know by THINKING CLEARLY. I was never TAUGHT NONSENSE by 'HERD-education'.

 

I swear a lot in real-life. my mouth like long-kang, even my 'beng' friends say.

 

But if 'grandpa harry' , 'uncle dragon' think they can con me like they con the obedient scholars, they can forget it. i learn from THE REAL WORLD not like 'uncle dragon' that don't know mee siam got no hum.

Edited April 26, 2011 by bukitmerah
apology

[Tachnicolour]

it's not Singapore our nation.

 

it's Singapore Pte. Ltd.

 

no prizes for guessing who owns it.

[XclandestineX]

it's not Singapore our nation.

 

it's Singapore Pte. Ltd.

 

no prizes for guessing who owns it.

 

help to claim it back bah! Get back the island from PAP! MAJULAH SINGAPURA!

[DeusExMachina]

Many have long guessed that the delaying of being able to draw your CPF monies under the guise of preventing the old from squandering off their cash is at best a half truth.

 

Look. The Govt acknowledges that we're a greying population. Look at the big picture. If the original plan of being able to empty your CPF account at 55 were held in place, they would... metaphorically speaking... break their bank. It's a good guess that they might NOT even have the liquid cash at all to give back our CPF monies if all of the above 55s today were to draw everything out. They would literally be fuccked big time.

 

Why else would they have fuccked around with that Sacred Cow... the one thing that they promised years back that they would not touch... and then continue to stab at the carcass repeatedly, changing their policies time and again to suit their needs and not ours. You see, it's just like what LKY said a long time back about oppression.

 

Let me quote that for you guys:

"Repression, Sir is a habit that grows. I am told it is like making love-it is always easier the second time! The first time there may be pangs of conscience, a sense of guilt. But once embarked on this course with constant repetition you get more and more brazen in the attack. All you have to do is to dissolve organizations and societies and banish and detain the key political workers in these societies. Then miraculously everything is tranquil on the surface. Then an intimidated press and the government-controlled radio together can regularly sing your praises, and slowly and steadily the people are made to forget the evil things that have already been done, or if these things are referred to again they're conveniently distorted and distorted with impunity, because there will be no opposition to contradict."

 

-Lee Kuan Yew as an opposition PAP member speaking to David Marshall, Singapore Legislative Assembly, Debates, 4 October, 1956

 

They play with your CPF the first time. Carefully at first. After the first time, it simply gets easier and more guilt-free. Until the time comes where they can change policy like changing underwear.

 

We want our fuccking money at 55. No, we do not want to leave it in the fuccking CPF board and take it out in drips and drabs until we're dead. At 55, we could simply draw it out and invest it in something that has higher returns.... be it funds or securities. The hell with it, I could even run a loansharking operation. Any of which would have higher potential returns than that fuccking CPF piece of crap.

[XclandestineX]

Many have long guessed that the delaying of being able to draw your CPF monies under the guise of preventing the old from squandering off their cash is at best a half truth.

 

Look. The Govt acknowledges that we're a greying population. Look at the big picture. If the original plan of being able to empty your CPF account at 55 were held in place, they would... metaphorically speaking... break their bank. It's a good guess that they might NOT even have the liquid cash at all to give back our CPF monies if all of the above 55s today were to draw everything out. They would literally be fuccked big time.

 

Why else would they have fuccked around with that Sacred Cow... the one thing that they promised years back that they would not touch... and then continue to stab at the carcass repeatedly, changing their policies time and again to suit their needs and not ours. You see, it's just like what LKY said a long time back about oppression.

 

Let me quote that for you guys:

 

 

They play with your CPF the first time. Carefully at first. After the first time, it simply gets easier and more guilt-free. Until the time comes where they can change policy like changing underwear.

 

We want our fuccking money at 55. No, we do not want to leave it in the fuccking CPF board and take it out in drips and drabs until we're dead. At 55, we could simply draw it out and invest it in something that has higher returns.... be it funds or securities. The hell with it, I could even run a loansharking operation. Any of which would have higher potential returns than that fuccking CPF piece of crap.

 

UPZ! We want our CPF money back! Let's reclaim back our beloved island Singapore from the PAP in this coming GE.

 

MAJULAH SINGAPURA!

[bukitmerah]

UPZ! We want our CPF money back! Let's reclaim back our beloved island Singapore from the PAP in this coming GE.

 

MAJULAH SINGAPURA!

 

sad to say, i lived in an old estate with many naive "blind-faith" supporters of the "mythical lightning" religion. even relatively 'young' folks in their 50s that grew up in kampungs. let us not even talk about senior citizens of my grandma generation, they really die-hard followers.

 

what worries me are the fresh graduates youths. they really believe in myths grandpa harry told them since they are too young to know the past & too young to understand "hard truths" of reality yet. they have jobs & rosy dreams of their future prospect.

 

they are unlike the bitter 30+ blue collar workers like me with wages LOWER THAN 10 years ago or the jobless 40+ white collar ex-Professionals/Managers/Executives/Technicians that are now taxi drivers. they are our future but ... maybe i am too harsh. maybe they will learn in the future but i am afraid it will be TOO LATE by then.

[XclandestineX]

what worries me are the fresh graduates youths. they really believe in myths grandpa harry told them since they are too young to know the past & too young to understand "hard truths" of reality yet. they have jobs & rosy dreams of their future prospect.

i AM a ah beng. that is why i talk like one. i no go U, no go poly. no go school kanna brain-washed by "Grandpa Harry textbooks" like some of the young GRADUATES i met that believe in fairy tales & myths.

 

i know what i know by THINKING CLEARLY. I was never TAUGHT NONSENSE by 'HERD-education'.

 

I swear a lot in real-life. my mouth like long-kang, even my 'beng' friends say.

 

But if 'grandpa harry' , 'uncle dragon' think they can con me like they con the obedient scholars, they can forget it. i learn from THE REAL WORLD not like 'uncle dragon' that don't know mee siam got no hum.

 

I hope they wake up before its too late!

[ThePole]

all gahmen take the ppl money to invest one. however, all the scholar brains put together still have to abide to your big nanny. we have been harvested now and then, where got money anymore...

[XclandestineX]

This is based on 2009 figures. Don't forget still got 30% pay increase and 8 months bonus this year!!!

 

 

The TOP 30 highest paid politicians in the world

The TOP 30 highest paid politicians in the world are all from Singapore:

 

1. Elected President SR Nathan - S$3.9 million.

2. Prime Minister Lee Hsien Loong - S$3.8 million.

3. Minister Mentor Lee Kuan Yew - S$3.5 million.

4. Senior Minister Goh Chok Thong - S$3.5 million.

5. Senior Minister Prof Jayakumar - S$3.2 million.

6. DPM & Home Affairs Minister Wong Kan Seng - S$2.9 million.

7. DPM & Defence Minister Teo Chee Hean - $2.9 million

8. Foreign Affairs Minister George Yeo - S$2.8 million.

9. National Development Minister Mah Bow Tan - S$2.7 million.

10. PMO Miniser Lim Boon Heng - S$2.7 million.

11. Trade and Industry Minister Lim Hng Kiang - S$2.7 million.

12. PMO Minister Lim Swee Say - S$2.6 million.

13. Environment Minister & Muslim Affairs Minister Dr Yaccob Ibrahim - S$2.6 million.

14. Health Minister Khaw Boon Wan - S$2.6 million.

15. Finance Minister S Tharman - S$2.6 million.

16. Education Minister & 2nd Minister for Defence Dr Ng Eng Hen - S$2.6 million.

17. Community Development Youth and Sports Minister - Dr Vivian Balakrishnan - S$2.5 million.

18. Transport Minister & 2nd Minister for Foreign Affairs Raymond Lim Siang Kiat - S$2.5 million.

19. Law Minister & 2nd Minister for Home Affairs K Shanmugam - S$2.4 million.

20. Manpower Minister Gan Kim Yong - S$2.2 million.

21. PMO Minister Lim Hwee Hwa - S$2.2 million

22. Acting ICA Minister - Lui Tuck Yew - S$2.0 million.

23 to 30 = Senior Ministers of State and Ministers of State - each getting between S$1.8 million to S$1.5 million.

 

Note: 1. The above pay does not include MP allowances, pensions and other sources of income such as Directorship, Chairmnship, Advisory, Consultancy, etc to Gov-linked and gov-related organisations or foreign MNCs such as Citigroup, etc.

2. Though it is based on an estimate, the data cannot be far off the official salary scales.

 

The above was posted in redbeanforum by Green Peas.

Posted by Chua Chin Leng aka redbean at 12:51 PM

 

After raiding our CPF money untill we are no 9 in the world for the highest public debt. The PAP go and pat their own back and pay themselves millions of dollars of salary, whilst we suffer from higher HDB prices, higher inflation, everything higher except for our own salaries