Monday, June 9, 2014

How come CPF normally make major changes in CPF minimum sum when there is a dip in GIC portfolio?

The first dip in 2003 during SARS
The minimum sum of $80,000 in 2003 dollars was set, to be adjusted annually for inflation.

The second dip in 2009 when GIC bought UBS and Citibank shares
The CPF Life scheme, with no fixed payout was implemented.

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