SUBSCRIBE: Newsletter

Human Resources

Toggle

Article

Retirement piggy bank Singapore

Singapore’s CPF one of the world’s most mature pension systems



Leverage on technology to improve your HR operations and process at HR Tech Interactive. Happening in Singapore and Kuala Lumpur in August.
Request your invite now!

Singapore’s key retirement and savings plan, the Central Provident Fund (CPF), has aided the island nation in making a name for itself as a leading provider of pension and retirement funds for markets worldwide, a global report has found.

According to Building a better retirement world: insights for better outcomes in the global pension and retirement market, a report by EY, Singapore’s retirement pillar is one of the most efficient in the world.

The report conducted more than 80 interviews with pension and retirement-related professionals, including policymakers, government regulators, public and private sector plans and product providers representing 18 countries across the Americas, Asia-Pacific and Europe.

Singapore’s CPF was one of the pension and retirement systems covered in the study.

ALSO READ: CPF policies expected to change: PM Lee

“Pension systems present significant business opportunities in many countries and we are seeing movements and additions of broader elements for financial well-being in retirement for Singaporeans,” Brian Thung, financial services partner, EY Singapore, said.

The report also suggested seven key areas that present opportunities for pension and retirement providers globally to better deliver social policies around pensions.

These include the need to re-balance benefit expectations with financial resources, and the need for local financial markets to evolve concurrently with growth in pension assets.

Image: Shutterstock



Gathering 50 top regional chief HR and senior business leaders at a three-day business retreat forum, the exclusive HR Innovation Leaders' Summit will happen from September 9-11. Get involved.

Read More News

in All markets by

How NWS rewards its employees

As a caring and family-friendly employer, NWS strives to provide all-round care to employees for their wellbeing. ..

Trending

Leave a Reply

You must be logged in to post a comment.