Han Hui Hui, the organiser of the first, second and third (23 August 4 pm to 6.30 pm) Return Our CPF protests at Speakers’ Corner asked me to write about the 13 Hard Truths about our CPF.

1) The Government does not spend any money on CPF

2) The real return on our CPF is the lowest of national pension funds in the world

3) The real rate of return on the Ordinary Account was negative the last 10 years

4) GIC managed CPF funds – return from inception is more than 6%

5) Only about 1 in 7 Singaporeans at 55 can meet the Minimum Sum in cash

6) HDB is the most expensive public housing in the world

7) 60% of the price of HDB flats are allocated to land costs

8) The Government does not spend any money on HDB

9) MediShield surplus in the last 5 years alone is $2.3 billion

10) The Government from a cashflow perspective, does not spend any money on healthcare

11) Our public healthcare spending as a percentage of GDP is the lowest in the world

12)  Our public share of total healthcare spending is the lowest among developed countries

13) Our Budget surplus using IMF fiscal reporting guidelines was $36.1 billion against the Budget surplus of $3.9 billion

Leong Sze Hian

P.S. Come with your family and friends to the 3rd Return Our CPF – HDB protest on 23 August 4 pm to 6.30 pm at Speakers’ Corner https://www.facebook.com/events/648543138548193/