*Official* BBCWatcher club

[BBCWatcher]

CNA has been running a series of articles on the expansion of central kitchen food service in public schools. Parents and kids are reporting numerous problems with the expansion.

Here's an idea: change the model. Just make school snacks and lunches free at the point of service for all students. Take a look at what France does for inspiration. Kids that are fed are kids that can focus better on learning, and kids have more time to eat when they can just get their food without hassle. (But don't cut recesses and lunch durations, please. They're already way too short — and doing a great job teaching kids how to wolf down food as fast as possible.) For that matter, make books, supplies, and uniforms free at the point of service as well. Even if the government insists on hiking (means-tested) school fees to cover food, books, and uniforms, it'd be better than the current model, I think. (But how about NOT doing that?) There are plenty of school-based services that are already free at the point of service. As examples, there are free dental checkups and vaccinations, and there's no school toilet admission fee.

I remain mystified — given Singapore's low and still declining Total Fertility Rate — why there doesn't seem to be a comprehensive, holistic, and aggressive move to get rid of all sorts of hassles and perils involving childbearing and raising children. Including all the school-related hassles that don't have to exist.

One of the issues the new New York City mayor (Zohran Mamdani) campaigned on is to make New York City's buses free at the point of service. You hop on the bus and ride. Sure, running public buses costs money, and he's proposed ways to replace fare box revenue. Because trying to collect fares at boarding makes the service worse for everyone who rides the bus. Everybody has to queue up, fiddle with their cards, tap their cards, maybe tap them again, get into arguments with the driver, etc., etc. And that slows the bus down a lot, especially in New York City. Which then slows other vehicles. I suppose we could quibble about the details, but at least on this point his logic is solid. (There are also important second order benefits in making buses free to board and alight. And note there'd still be fares to ride trains because fare collection in train stations impacts the quality of service less.) Of course Singapore could make public buses free at the point of service. I think it should.

Some of the successful businesses in the world employ "freemium" pricing models: a basic offering that's free at the point of service with options to pay for something extra. I think there's ample room for government to be more thoughtful and clever along the same lines, especially since government can raise revenues through general taxation.

 

[EagleToThesSky]

Hi BBC, thank you for highlighting MBH too. I was considering A35 as a security ballast, and hopefully one that still provides better returns that the current FD. Perhaps I should consider splitting and investing in both A35 and MBH?


Thank you for pointing that out. Okays, will cut down to just two max. Will use my cash savings (non CPF/SRS route) investment route for world indexes i.e. VWRA.


Thank you. I've went through their sites, materials online and with the help of GPT to dig in deeper on the comparisons, fees and forecasting some of those fees across a 10 year investment. I could see that they both have their own and different approaches in fees. Both seems like great platforms. Am leaning towards FSMOne, even though the total in fees (across a 10 year period) is just a slight tad more.

For FSM1, just be aware that their auto-sweeping account comes with a fee. So you might not want to keep any balance there.

 

[highsulphur]

For FSM1, just be aware that their auto-sweeping account comes with a fee. So you might not want to keep any balance there.

net still higher interest than most savings account?

 

[CrashWire]

One of the issues the new New York City mayor (Zohran Mamdani) campaigned on is to make New York City's buses free at the point of service. You hop on the bus and ride. Sure, running public buses costs money, and he's proposed ways to replace fare box revenue. Because trying to collect fares at boarding makes the service worse for everyone who rides the bus. Everybody has to queue up, fiddle with their cards, tap their cards, maybe tap them again, get into arguments with the driver, etc., etc. And that slows the bus down a lot, especially in New York City. Which then slows other vehicles. I suppose we could quibble about the details, but at least on this point his logic is solid. (There are also important second order benefits in making buses free to board and alight. And note there'd still be fares to ride trains because fare collection in train stations impacts the quality of service less.) Of course Singapore could make public buses free at the point of service. I think it should.

I think there is some logic to charging for public transport to prevent people from taking it "for fun".

What I don't agree with is Ministry of Transport and LTA treating this like a proper business and trying as much as possible to not subsidise it, when Singapore's ridiculous car (and private hire) prices means public transport is practically an essential for the middle class.

 

[EagleToThesSky]

net still higher interest than most savings account?

Yes. But why paying a fee? Chocolate Finance offers higher interests with no fees. And withdrawal now is quite fast.

 

[BBCWatcher]

I think there is some logic to charging for public transport to prevent people from taking it "for fun".

What's wrong with taking a bus ride "for fun"? And even if you think it's somehow "bad" if a small minority of riders take joy rides, why penalize everyone (including other motorists) by slowing all the bus services down just to collect fares? At both doors, by the way: in Singapore it's not good enough to tap in. You also have to tap out.

Note that you can have fare free buses but still maintain fare collections for trains. That Mayor Mamdani's proposal.

There's another way you could collect bus fares without slowing down buses: switch to a honor-based fare system. With offboard fare collection most people riding a public bus in Singapore would need a ticket, but they'd acquire their tickets before they even get to the bus stop — mostly online, alternatively from a convenience store. Bus tickets would probably be available in 1 day, 1 week, and 1 month increments. (The 1 month ticket would be optionally automatically renewable.) They'd be tied to NRICs/FINs for residents. Tourists and non-working temporary visitors would probably be exempt if they've recently arrived in Singapore. Just as today, fare inspectors would conduct occasional spot checks aboard buses.

Either way, the fare collection equipment in public buses would be removed. No cash fares, no tapping on, no tapping off. Just get on and go, and get the buses moving.

With fare free (or offboard fare collection) buses I think I'd be OK with carefully reducing the number of bus routes, shifting buses even more toward a "last mile" orientation that feeds in and out of train stations. But let's reintroduce a reasonable night bus network.

 

[Th@nhBB]

Hi BBCWatcher,

I read your advice on CPF and wanted to do some voluntary contribution for myself.
I login mycpf, voluntary contribution and saw that the available amount is 0. I interpret it as the limit is hit and there is no way for me to top up. Do I have a happy problem, or is there another way to do voluntary contribution, i.e. I did it the wrong way?

Thank you!

 

[BBCWatcher]

I read your advice on CPF and wanted to do some voluntary contribution for myself.
I login mycpf, voluntary contribution and saw that the available amount is 0. I interpret it as the limit is hit and there is no way for me to top up. Do I have a happy problem, or is there another way to do voluntary contribution, i.e. I did it the wrong way?

I'm not sure what you're encountering, but here are a couple guesses:

1. If you're referring to a Voluntary Contribution to MediSave, if you're age 65+ your Basic Healthcare Sum was fixed for life when you celebrated your 65th birthday. You won't be able to make a Voluntary Contribution to MediSave until there's a deduction from MediSave.

2. If you're referring to an "all 3 account" Voluntary Contribution, is it possible you exceed the CPF Annual Limit in 2025? In that case you might be blocked from another VC in 2026 until the CPF Board refunds the overage.

What account(s) are you trying to add funds to?

 

[BBCWatcher]

Late Sunday (U.S. time) Jerome Powell, the U.S. Federal Reserve Chair, released an extraordinary statement on YouTube. His statement is in response to news reports (in The New York Times, The Wall Street Journal, and other outlets) — which Powell confirms — that the Trump Administration's Justice Department is criminally investigating Powell. Under the Trump Administration the DOJ has become politicized, losing its traditional independence.

Powell is asserting that the Trump Administration is also trying to intimidate and politicize the U.S. Federal Reserve — stewards of U.S. dollar monetary policy. The Fed also has considerable regulatory authority over the financial system. The U.S. dollar is the world's #1 global reserve currency, by far.

One among many reasons why this escalation is disturbing is that Powell's term ends on May 15, 2026. Trump doesn't have to wait long for Powell's term to end, but his administration is threatening criminal prosecution anyway. President Trump has yet to nominate a replacement for U.S. Senate consideration.

On edit: Evidently The New York Times broke the story, so credit where credit is due. They report that the investigation is being spearheaded by the U.S. Attorney’s Office for the District of Columbia, i.e. by Jeanine Pirro, a former Fox News host. When asked Sunday evening Trump denied knowing anything about the criminal probe. Republican Senator Thom Tillis announced that he will not support any Trump nominee for Federal Reserve Chair or for any other Federal Reserve position until the DOJ's criminal investigation is resolved. I think the fair interpretation is that Tillis wants an acting Fed chair past May 15th, not anyone President Trump would appoint in these circumstances. [Tillis: “If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none. It is now the independence and credibility of the Department of Justice that are in question."]

Powell has the option to continue serving the Federal Reserve as a governor, a separate concurrently running term that doesn't expire until January, 2028. If he continues to serve as a governor, that position is not available to be filled by a Trump nominee to the Federal Reserve. Observers now think it's likely he'll stay on in that role, even as his term as Chair ends. Stephen Miran's term on the Federal Reserve ends this month, but if Senator Tillis and other senators refuse any Trump appointments, that position will remain unfilled. Ironically Miran is a handpicked Trump appointee, from his first administration. So the Federal Reserve could (at least in the short term) become less "Trumpian." Trump has been trying to remove Lisa Cook from the Board, but at least so far courts have blocked her removal. (Later this month the Supreme Court will consider whether Trump can fire her before her term ends.)

On second edit: Ironically President Trump nominated Jerome Powell to the post of Chair on November 2, 2017, during the first Trump Administration. (The Senate confirmed him in early 2018.) President Biden renominated Powell to a second term as Chair, which he is now serving. Powell is a member of the Republican Party. Given these events he might want to reconsider that.🫤

 

[BBCWatcher]

Here's a quick update on the Powell situation.

Financial markets mostly didn't "freak out" on Monday. That's probably because enough Republicans quickly voiced their opposition to the Trump Administration's latest attempt to politicize the Fed, notably Senator Thom Tillis (who holds a powerful card) and Senator Lisa Murkowski. Tillis sits on the Senate Banking Committee that evaluates all Federal Reserve Board nominees. Without his vote it's highly unlikely the Trump Administration will be able to place anyone at the Fed. (Even if Tillis is the sole defector, the Banking Committee would deadlock 12-12 on any Fed nominee. Without committee approval the nominee requires 60 votes in the whole Senate to be approved. It's not clear Republicans could muster even 50 votes in that scenario.)

Tillis is not running for reelection, so that helps until early January, 2027.

The financial markets can count Senate votes. Maybe market participants should take Trump's threats to the Federal Reserve's independence more seriously, but for now at least they're not too worried.

About one third of the Senate is up for election this November. Democrats need a net gain of 4 seats to take control of the Senate. That'll always be tough, but their odds of success have been improving lately.

 

[Th@nhBB]

I'm not sure what you're encountering, but here are a couple guesses:

1. If you're referring to a Voluntary Contribution to MediSave, if you're age 65+ your Basic Healthcare Sum was fixed for life when you celebrated your 65th birthday. You won't be able to make a Voluntary Contribution to MediSave until there's a deduction from MediSave.

2. If you're referring to an "all 3 account" Voluntary Contribution, is it possible you exceed the CPF Annual Limit in 2025? In that case you might be blocked from another VC in 2026 until the CPF Board refunds the overage.

What account(s) are you trying to add funds to?

1. I am in my mid-40s, still far from 65. And I am a salaried employee
2. I login to the cpf app and there is an option for voluntary contribution by cash, it maybe the “3 account”. I can’t see any other way to do voluntary contribution by cash for myself.
It seems that CPF Board can block the VC if it is estimated that future n potential mandatory contribution will meet the limit (based on past record).

 

[BBCWatcher]

I login to the cpf app and there is an option for voluntary contribution by cash, it maybe the “3 account”.

Here are the two online forms you might be looking for....

"All 3 account" Voluntary Contribution ("VC3A"):
https://www.cpf.gov.sg/member/tools-and-services/forms-e-applications/top-up-cpf-accounts

Voluntary Contribution to MediSave ("VCMA"):
https://www.cpf.gov.sg/member/tools-and-services/forms-e-applications/top-up-medisave-account

 

[BBCWatcher]

BBCWatcher's Favorite Long-Term Investment Funds
Updated January 22, 2026

Here are my current favorite low cost, long-term investment funds. If you spot anything better, please post a suggestion. This list should not be construed as investment advice. Do your own due diligence.

Global Stock Index Funds	• For non-U.S. persons using unrestricted cash: FWRA. Good alternatives: ACWD, IMID, ISAC, VWRA, WEBQ (*1) • For non-U.S. persons using CPF OA or SRS dollars: A12S via POEMS • For U.S. persons: VT (*2)
Straits Times Index (STI) Stock Funds	• For non-U.S. persons: GAB (*3) • For U.S. persons: EWS (*2)(*4)
Singapore Dollar Bond Index Funds	• For non-U.S. persons: MBH (*3) • For U.S. persons: no direct equivalent (*5)
Global Investment Grade Corporate Bond Index Funds	• For non-U.S. persons: CRPA (*2) • For U.S. persons: BNDW (*2)
Global Sovereign Real Return Bond Index Funds	• For non-U.S. persons: IGIL (*2) • For U.S. persons: no direct equivalent; could effectively replicate using some combination of I-Bonds, TIPS, SCHP, and/or WIP (*2)(*4)

Footnotes

1. Pick one at random if you cannot decide. Trading symbols may vary.
2. Not available using CPF OA or SRS dollars.
3. Available using unrestricted cash, CPF OA, and SRS dollars.
4. Caution: EWS and WIP are high expense ratio (0.50%) funds.
5. Directly held individual bonds, such as Singapore Government Securities, are tax tolerable.

 

[mr_beanz]

For purchase of GAB using cash, I would like to suggest using IG Markets which currently gives 3% interest on the first $50k of holdings. There are also no platform and trading fees

 

[BBCWatcher]

Most U.S. financial markets will be closed on Monday, January 19, 2026, in observance of the Martin Luther King, Jr. Day federal holiday. Trade settlement dates may be affected.

 

[chekseng80]

BBCWatcher's Favorite Long-Term Investment Funds
Updated January 17, 2026

Here are my current favorite low cost, long-term investment funds. If you spot anything better, please post a suggestion. This list should not be construed as investment advice. Do your own due diligence.

Global Stock Index Funds	• For non-U.S. persons using unrestricted cash: IMID, ISAC, or VWRA (*1) • For non-U.S. persons using CPF OA or SRS dollars: A12S via POEMS • For U.S. persons: VT
Straits Times Index (STI) Stock Funds	• For non-U.S. persons: GAB (*2) • For U.S. persons: EWS (*3)
Singapore Dollar Bond Index Funds	• For non-U.S. persons: MBH (*2) • For U.S. persons: no direct equivalent (*4)
Global Investment Grade Corporate Bond Index Funds	• For non-U.S. persons: CRPA (*5) • For U.S. persons: BNDW
Global Sovereign Real Return Bond Index Funds	• For non-U.S. persons: IGIL (*5) • For U.S. persons: no direct equivalent; could effectively replicate using some combination of I-Bonds, TIPS, SCHP, and/or WIP (*3)

Footnotes

1. Pick one at random if you cannot decide.
2. Available using unrestricted cash, CPF OA, and SRS dollars.
3. Caution: EWS and WIP are high expense ratio (0.50%) funds.
4. Directly held individual bonds, such as Singapore Government Securities, are OK.
5. Not available using CPF OA or SRS dollars.

Hi, what about WEBN by Amundi? Relatively new one listed in German trade in euro? TER of 0.07%.

 

[BBCWatcher]

Hi, what about WEBN by Amundi? Relatively new one listed in German trade in euro? TER of 0.07%.

WEBQ is the U.S. dollar variant. I'll add it to the list that way, although WEBN (the euro variant) might have a more viable market on XETRA. It's a good suggestion — thanks!

 

[CrashWire]

Global Stock Index Funds

• For non-U.S. persons using unrestricted cash: IMID, ISAC, VWRA, or WEBQ (*1) • For non-U.S. persons using CPF OA or SRS dollars: A12S via POEMS • For U.S. persons: VT (*5)

Why not ACWD or FWRA?

I'm sure I'm not helping with decision paralysis. It's great that VWRA dropped the expense ratio from 0.22% to 0.19% in November 2025 thanks to competition.

 

[BBCWatcher]

Why not ACWD or FWRA?

Also fine, thanks.

I probably need to look at factors such as trading volume, expense ratio, share price, currency, and exchange to break this multi-way tie. But all of these funds will get the job done quite well.

 

[BBCWatcher]

Why not ACWD or FWRA?

I think I like FWRA a little better than the others, although they're all fine. FWRA is listed/quoted in U.S. dollars on the London Stock Exchange, appears to have reasonable trading volume, has a low per share price (helpful for some retail investors, especially those just getting started), and has the 2nd lowest expense ratio in the group. I've updated the table accordingly.