The pension system in Singapore

Mukul G. Asher

No 20848, Social Protection Discussion Papers and Notes from The World Bank

Abstract: Singapore is an affluent city state which finances its social security system through a mandatory, publicly managed, defined contribution system based on individual accounts. The main vehicle embodying this is the Central Provident Fund (CPF). There are two other pension systems operating in Singapore: 1) Non-contributory pension scheme for the government employees; and 2) provident fund scheme for the certain categories of armed forces personnel called the Savings and Employees Scheme. The report makes a thorough assessment of the CPF. Then it is followed by a discussion of reform options which could help provide adequate level of retirement protection to the population in a sustainable manner while maintaining Singapore's international competitiveness for attracting requisite investments, and professional and technical manpower.

Keywords: Environmental Economics&Policies; Economic Theory&Research; Banks&Banking Reform; Public Sector Economics; Health Monitoring&Evaluation (search for similar items in EconPapers)
Date: 1999-08-31
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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