teeth53 tot: If only our very own S$58 billion is turn into CPF scheme, then everyone is a winner liao and if Ho Ching the dauther-in-law can't help, then GIC father and son term can - right.

ganesh: Singapore GIC and Temasek losses; Consequences for CPF members

GIC sells 4.5% Citi stake

Type	Sovereign wealth fund
Founded	22 May 1981
Headquarters	Singapore
Key people	Lee Kuan Yew, Chairman Lee Hsien Loong, Vice-Chairman Tony Tan Keng Yam, Executive Director Lim Siong Guan, Group Managing Director
Industry	Investment services
Website	www.gic.com.sg

In US. Congress has introduced a bill that would force employers that don't currently offer retirement plans to automatically enroll their workers in a direct-deposit IRA. Employees would be allowed to opt out.

This sounds like our CPF scheme - forced saving by employees/employers.

US ppl has to pay high tax (and i believe this is the reason they cant save much)  like british ppl as well,  but, their healthcare (after age 65) is all FREE.   Unlike singapore, we better pray that we dont need kidney dialysis or major surgery that requires lots of money that will not only burden our family members financially, but, also mentally/physically draining.   The law of death with dignity act should be passed in Singapore .. so that termnally ill patient could choose to leave peacefully wihtout having suffered so much pain.

http://temasekreview.com/2009/09/25/pm-lee-wades-into-singapore%e2%80%99s-blogosphere/

PM Lee Wades into Singapore’s Blogosphere..!!! ???.

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Posted: 28-Nov-2008 23:47 Just for info sharing...TAMASICK "Si Bei Heng"

AFP - Thursday, November 27WASHINGTON (AFP) - - The Federal Reserve on Wednesday gave formal approval to Bank of America's acquisition of Merrill Lynch, the Wall Street icon battered by the housing and credit crisis. The 50-billion-dollar stock acquisition had been announced in September at the same time rival Lehman Brothers collapsed and fears were rising over the survival of Merrill, the brokerage giant with the bull sculpture outside its Wall Street headquarters. On finalizing the deal, Bank of America would bolster its position as the largest US banking and financial firm with assets of 2.7 trillion dollars. Bank of America, based in Charlotte, North Carolina, would control deposits of some 852 billion dollars, or 11.9 percent of the US total.

For all call it very talanted own people's, giving all forum bold warning sign a miss. Living in denial

(see below for more info)_________________________________________________________________________

IMO, GlobalInv is most likely trying to leverage on the Temasek name. I don't see STAM as very experienced in managing the complex assets held by GlobalInv and neither is STAM a very big organisation. See their simple website,

http://www.stassetmgt.com/  Only 5 fund managers and 10 investment analysts,

http://www.stassetmgt.com/index.php?option=com_content&task=view&id=36&Itemid=55

teeth53 tot so. Does it make any different when she is in-charge ? as PM wife.

For more related info: http://sg.news.yahoo.com/rtrs/20090917/tap-temasek-c3bb44c.html

The review showed Temasek's portfolio slumped S$55 billion or around 30 percent to S$130 billion in the year to end-March. Its portfolio then rose 32 percent to S$172 billion by end-July, and its August performance was in line with market indexes.

For changes in the value of Temasek's portfolio, click: http://graphics.thomsonreuters.com/099/SG_TMSK0909.gif

The firm's value-at-risk (VaR) was S$28 billion at the end of March, meaning it had a 16% probability it would lose that amount or more this financial year, down from a value-at-risk of S$40 billion a year earlier.

teeth53 tot: If only our very own S$58 billion is turn into CPF scheme, then everyone is a winner liao.

Congress has introduced a bill that would force employers that don't currently offer retirement plans to automatically enroll their workers in a direct-deposit IRA. Employees would be allowed to opt out.

The other proposal would expand the saver's credit, a tax credit for middle- or low-income workers who save through 401(k)s or IRAs. The bill would allow more people at higher incomes to qualify for the credit and allow more low-income wage earners who don't pay federal income tax to also benefit.

Together these moves would increase savings participation for this group of workers to 80% from 15%, according to White House estimates. But the plan's cost is $59.6 billion over the next 10 years

Obama to workers: We'll help you save

President announces measures to make it easier to save more. One new idea: Turn tax refunds into savings bonds.

Auto enrollment in retirement plans: To make it easier for smaller and medium-sized employers to automatically enroll workers into retirement plans.

Saving tax refunds: To make it easier for those owed tax refunds to save.

Sick days and vacation time become 401(k) money: To make it easier for workers to rack up savings, the White House will make it easier for employers to convert (or allow workers to convert) unused vacation and sick leave pay into 401(k) contributions.

Americans have not been good savers in recent decades.

Recently, personal savings rates have increased, rising from essentially zero last year to about 4.2% in July, according to government statistics.

But even among those with savings in the bank, the nest egg is relatively lean. Of workers 55 years or older, about half have less than $50,000 in savings, excluding their homes and pensions, according to the Employee Benefit Research Institute.

In other word. What we are practicing, they US are also doing it. The president is telling the workers

In other word, Singapore model is been watch and apply, the ego is he is not AngMo apply (in other he is...), so it is safe to say, the old practice by AngMo (whatever B4 Bush era) no longer apply to old American system to make it work for them.

http://business.asiaone.com/Business/My%2BMoney/Story/A1Story20090905-165894.html

SINGAPOREANS and permanent residents aged 55 and older this year can sign up for the new CPF annuity scheme from this month, four years before it begins. It will turn automatically to those who turn 55 from 2013, with at least S$40,000 in their CPF savings.

The earlier opt-in date is in response to requests from older CPF members who want to join the scheme ahead of 2013 when it will be implemented for those turning 55 then, said Manpower Minister Gan Kim Yong on Saturday.

Read the full report in The Sunday Times. Early opt-in for annuity scheme.

CPF life Sign up for life-bonus is amounted to S$4,000, available till end December 2010. Condition applied - Income must not exceed $54,000 and annual value of each of one of their propertymust not be more than $11,000

teeth53 thot: One stone kill two birds, a balance act to pay out early (receive) for one to till one drop dead or less for one to leave behind. CPF members will also receive a bigger payout if one have more saving in their Retirement Account. 

• Uphold integrity & public confidence at all times

http://news.asiaone.com/News/The%2BBusiness%2BTimes/Story/A1Story20090826-163647.html

(S'PORE) In its newly revised charter, Temasek Holdings has spelt out its commitment to community giving loud and clear.

In a media roundtable yesterday, Temasek chief executive Ho Ching said that one key difference between the Temasek Charter 2002 and the Charter this year is that Temasek is being more explicit in its commitment to the community this time.

'Temasek is a responsible corporate citizen and is committed to contributing part of its returns to encourage the growth and development of the wider community,' the Temasek Charter reads.