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Monday, October 11, 2010

Singporeans' rights to Social Security and Public Housing

Political mechanism,such as democratic processes and monitoring and advocacy by independent actors also contribute to accountability”…… well said by Leong Sze Hian.

Our sovereign wealth fund are all tax-payers money.
Government Investment Corporation (GIC) and Temasek Holdings (TH) under the guise of investment managed by the daughter-in-law, Ho Ching lost over 40 Billions (maybe much more) in ventures but was never transparent and accountable.

What democratic processes and independent advocate and monitoring ??? All the PAP’s own manipulation of the funds.

Hence, our CPF indirectly are being held back due to the huge lost by TH. No one knows how our monies are 'squandered'.

So our rights to social security and public housing come with a heavy price to the benefit of the very government we voted in and we are left in the lurch.

PAP and their cronies enjoyed the success of 'failed investment' by not being transparent and S’poreans have to lick the wounds inflicted on by the very government.

Our CPF monies may be bankrupted by PAP one day. Just think, billions are being held back in the name of minimum sum for old age. There was never such rule when we started saving in CPF years before.

patrick lee song juan