9/17/2007
3.3% better than 4%?
CPF pegged to bond maybe unfavourable to the oldies Citi economist Chua Hak Bin has come out with a different calculation on the peg and suggested that the pegging to bond rate would benefit the young rather than the oldies. His numbers showed that in the longer term, the young could get 3.7% while the oldies will only get 3.3%.
Now is that good or bad? So far the official explanation is that pegging will give more in returns to the CPF holders. And is 3.7% or 3.3% better than 4%. I know the answer. Yes, with a lot of faith.
Chua Hak Bin better make doubly sure that his numbers are correct or he will have to retract them soon.
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2 comments:
The Government is treating Singaporean like little children, bit by bit they fool the children into believing that what they say will come true. They know Singaporeans are like that, after a while they forget and accept the situation and live happily ever after. If the returns are not good they can always blame the global economy, simple as that.
Just like Reddie is doing to us bloggers here. Let's wise up!
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