Pension funds: Where's My Nest Egg?

• TheGoodEarth

  30 Sep 07, 01:29

  Originally posted by Rock^Star:

  This kind of a quote is rather subjective. To each his own opinion.

  Subject to what? It was a statement made by a professor and he was making his opinion public.
  But I supposed the Rock doesn't feel any indignation by his opinion because the Rock didn't understand what the subject was all about.
• kilua

  7 Oct 07, 21:35

  Quote from Lee kuan Yew.
  
  http://www.straitstimes.com/Free/Story/STIStory_164084.html
  
  

  
  
  'YOU'LL NEVER LOSE' WITH CPF
  'We never invested the CPF money in shares or bonds. We always invested the CPF money in Singapore Government bonds where the Singapore Government guarantees a fixed return and you're always going to get.
  
  'In other words, you will never lose. And if anybody thinks he can do better, he's welcome to take his money and go to a fund manager and try and do better.'

  The Govt knows the problem of sufficient fund in CPF for retirement way early in the 1980s. Many people had been criticizing the CPF since the 1980s where the use of CPF is very restricted. However, during that time there wasn't a choice to take the money to a fund manager. Where can they take their money before 1999? Overinvest in HDB flats? Will Mr Lee take responsibility for those who didnt had a choice? Why does Mr Lee thinks that the early generation of Singaporeans who had little education can acquire financial knowledge and plan for retirement?