Comparing CPF with Malaysia’s EPF is the stupidest thing I’ve ever heard

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Benchmarking CPF with Malaysia’s EPF is a bewildering suggestion.

To start with, we don’t earn Malaysian wages.

It all boils down to this: Ringgit – weak. Singapore dollar – strong.

And why is the Singapore dollar strong? It is for the very same reason what #ReturnMyCPF and other GIC bashers are complaining about: powerful reserve investments and a strong economy.

If this country were to take the exotic advice of being 100% transparent with our reserves, guess what? The Singapore dollar will be attacked like mad, the value will go down. You won’t be so happy shopping on Amazon and if you thought CPF returns are not enough, wait’ll you see what happens in such a scenario.

The reality is Singapore’s economy is not turning up 13-15% GDP like in the past. If we’re losing the struggle to keep in good economic shape, if we sit around and get flabby – Singapore is going to find itself worrying about things other than CPF.

 

 

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About the author

Tay Leong Tan

Tay Leong Tan is a collective of 3 writers. Tay, Leong and Tan. (Who were you expecting?!) We are enthusiastic about labour issues, economics and current affairs in particular.

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