Tag Archives: THARMAN

WHY KEEP ASKING WHAT ARE THE RETURNS SINCE INCEPTION?

It is a plain act of mischief by harping over and again on how much are the fund’s returns since inception, or that of its managers (if any exist). The main issue should be as per the initial understanding of all parties involved, what are the guaranteed returns, and whether or not this obligation can be fulfilled – you ought to be relieved if these issues were addressed, and you can also ask questions on those fronts if you have further doubts. The initial agreement between parties is the key.

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GIC REPORTS STEADY RETURNS

SINGAPORE investment fund GIC posted brighter returns on the nation's nest egg as the world economy kept growing and financial markets stayed robust. Over five years to March 31 this year, GIC's assets across the globe returned 12.4 per cent in US dollar terms - well above the 2.6 per cent for the five years to March 31 last year.

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THARMAN: GUARANTEED RATES DUE TO GIC POOLING OF FUNDS

If the GIC managed CPF funds as a separate pool, and not together with other government assets, the interest rates that the Government has committed to would be unsustainable, Deputy Prime Minister Tharman Shanmugaratnam told Tuesday's CPF forum. Mr Tharman was responding to questions from blogger Roy Ngerng, who is being sued by the Prime Minister for defamation. Mr Ngerng fired off four questions and Mr Tharman, who is also Finance Minister, answered them in turn. Here is an edited transcript of the exchange.

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Insurance firms to offer commission-free life policies

The initiative is part of an industry evaluation process called the Financial Advisory Industry Review (FAIR) — introduced in 2012 — which sets out recommendations to raise the standards of the insurance sector. One such recommendation requires all insurance companies that serve the retail market to offer direct purchase products, or policies that can be purchased without going through financial advisers.

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KENNETH JEYARETNAM: IS THE GOVERNMENT LOSING ALL OUR MONEY?

I was quite shaken by my trip to Parliament yesterday to watch the CPF “debate” . There wasn’t really any debate at all. Our Finance Minister, Tharman made a speech that was full of irrelevancies and gaffes and what he did admit to worried me considerably. I sat in the spectators gallery where it was noticeable that the MIW were MIA . Thank goodness that Eugene Tan is there to remind the Speaker and Deputy Speaker how parliament works. Even some WP MPs were missing and came in an hour after the debate had started.

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5 CPF MYTHS BUSTED

Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam and Manpower Minister Tan Chuan-Jin tackled some common myths and misconceptions about the Central Provident Fund system during Tuesday's Parliament session. MYTH NO. 1 - Your Minimum Sum keeps going up ...

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MAS TELLS BANKS TO PREPARE FOR FINANCIAL COLLAPSE?

Simon Black, an international investor wrote in Sovereign Man, I quote his article in the above title, ‘….the deputy chair of the Monetary Authority of Singapore (Lim Hng Kiang) said last night at a dinner that “an uneasy calm seems to have settled in markets” and that “we remain in uncharted waters.” It was pretty amazing, really, to see such pointed language from a central banking official. Mr. Lim jabbed at the “obvious” risks and said there would be “bumps on the road” ahead. That’s putting it mildly….

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1.6 million S’poreans to get GST Voucher letters

The Ministry of Finance (MOF) yesterday said 1.6 million Singaporeans will receive letters this week outlining the various benefits they will be getting. These include the 2014 Goods and Services Tax Voucher (GSTV), 2014 GSTV Special Payments, five-Year Medisave top- up as well as the Service and Conservancy Charges rebates. The MOF said about 1.3 million Singaporeans will receive the GSTV-Cash on Aug 1.

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