After having clarified so many times on this page that Temasek does not handle CPF monies, still we see people making the false claim. We therefore come to the conclusion that it is a deliberate attempt to perpetuate a falsehood.
To be clear, Temasek does not handle CPF monies, does not manage foreign reserves, does not manage government reserves.
Temasek OWNS the assets on its balance sheet (Not your money).
Temasek manages its own assets, which have accrued mainly from proceeds from sale of its investments and reinvestments of dividends and other cash distributions it receives from its portfolio companies and other investments.
Temasek also has its own borrowings and debt financing sources such as the Temasek Bonds and Euro-commercial Paper Programme.
CPF monies are invested by the CPF Board (CPFB) in Special Singapore Government Securities (SSGS) that are issued and guaranteed by the Singapore Government.
The proceeds from SSGS issuance are pooled with the rest of the Government's funds.
The comingled funds are first deposited with MAS as government deposits.
MAS converts these funds into FOREIGN assets through the foreign exchange market.
A major portion of these assets are of a long-term nature.
These assets are ultimately transferred to GIC to be managed over a long investment horizon.
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