31 May '14, 12am

Ministry of Finance on what the Government does with the money that goes into the CPF

The Ministry of Finance responded to queries from The Straits Times on what the Government does with the money that goes into the Central Provident Fund (CPF) and how it determines CPF interest rates, These topics have been hotly debated online following speculation that CPF monies are invested by Temasek Holdings and GIC as well as comparisons between their returns and CPF returns. Here is MOF's reply in full. Q: How are CPF monies invested? What does the Government do with the monies? CPF monies are invested by the CPF Board (CPFB) in Special Singapore Government Securities (SSGS)[1] that are issued and guaranteed by the Singapore Government. This assures that the CPF Board will be able to pay its members all their monies when due, and the interest that it commits to pay on CPF accounts. As the Singapore Government is one of the few remaining triple-A credit-rated govern...

Full article: http://www.singapolitics.sg/news/what-govt-does-money-goe...

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