NSP is very honoured to have esteemed leaders of Workers Party (WP), Singapore People's Party (SPP), Singapore Democratic Party (SDP), Pertubuhan Kebangsaan Melayu Singapura (PKMS) and Democratic Progressive Party (DPP) as our VIP guests this evening. Thank you so much for coming. We are also delighted that you, our friends and well-wishers are here with us this evening to join our 27th Anniversary celebration.
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PM Lee Hsien Loong has demanded that Roy Ngerng remove another 4 blog posts and the recent viral video of him explaining what has been happening recently. If the posts are not removed, PM Lee says that he deserves even more money in compensation from Roy. The lawyers acting on behalf of PM Lee insisted that the apology Roy posted was “never meant to be genuine”, noting that the video and another few blog posts Roy published showed that the apology he issued on Friday was insincere.
After 50 years of independence, political continuity and economic progress, we still do not have an official national identity, though, we have distinct characteristics that are uniquely Singaporean. But for Singapore to develop into a nation we need a shared belief or sentiment towards our country that binds us as one. We need loyalty. Do we have any professed loyalty to our country given that we are deeply divided by ethnicity? Or are our loyalty still entrenched in our ethnicity after 50 years? When the government invokes Article 6, the future of our country will lie in the hands of the ethnic majority – the Chinese. But even among the Singaporean Chinese today, there are three trends of thought.
I wish to address the issue on whether the CPF is able to pay off all its members, if it is dissolved today. The annual report of the CPF at 31/12/2012 showed total amount owing to CPF members to be $230 billion. This is invested in Singapore Government Securities totaling $229 billion, with a few other billions invested in other assets. If CPF were to be wound up, will the government be able to pay the $229 billion?
Since the “money in your CPF is your money” – Why is it that the excess returns that may be derived from the use and/or investing of CPF money, all these years, not returned to us? Why is there no transparency and accountability as to the exact paper trail as to what happens to our CPF? Where does and has it gone to? What returns were generated? Where exactly are our CPF – in the Reserves – all of it in the Reserves and where exactly in which entities or funds of the Reserves? Who exactly are or have been managing our CPF money? What expenses (total expense ratio) are we and have we been paying on our CPF money?
A YEAR ago, my family purchased a resale HDB executive apartment. After the sale and while renovations were going on, the contractor called us to say paint had been splashed all over our door. It was then that we realised the former owner had taken loans from several loan sharks. We made a police report, and the police told us that the former owner had borrowed money from loan sharks in the period between selling his unit and changing the address on his identity card.
For every Singaporean who has a CPF account by DEFAULT, there is also a Roy Ngerng in us. We all want to know how the CPF instrument works, and what are the state organs involved in moving our money and where do the returns flow back to? I am thinking that if our CPF money is being used for investment, should we not be paid the profits?
WE REFER to the article "Greater peace of mind when S'poreans retire" (May 17), which reported on the Government's plans to improve Central Provident Fund (CPF) schemes to strengthen social safety nets for lower-income and vulnerable groups. We hope these changes will fundamentally improve the state's assurance of financial security for these groups, which include women.
After much debate and public anger, the organisers of the Phillipines Independence Day Celebrations in Singapore have decided not to hold the event at Ngee Ann City Civic Plaza in Orchard. The event was originally planned to take place there on June 8 but many Singaporeans raised their concerns about it and even attacked the organizers suggesting that it was not suitable to hold foreign national events in such a public place.