Central Provident Fund (CPF)

Mind the gig gap

SINGAPORE (July 29): In a Telegram group chat for Deliveroo riders, a member took a screenshot of his earnings generated through the food delivery platform. The screenshot shows that he makes more than $4,000 a month, similar to what many executives would earn. Singapore’s monthly median wage is about $4400, according to data released by the Ministry of Manpower (MOM) on Nov 29, 2018. But, the trade-off for the somewhat lucrative gig is long hours on the road almost daily.

CPF not enough: How will elderly Singaporeans find the $1,379 a month needed to thrive?

SINGAPORE (June 14): Researchers in Singapore have determined that an elderly person living alone would need $1,379 every month to maintain a basic standard of living. But, how will they — and the rest of the ageing population — pay for it?

Crucially, the $1,379 figure assumes good health.

The sum covers an annual $500 holiday, budgets for one restaurant meal a month, and allows the person to buy clothes and accessories for special occasions, as well as gifts for friends.

Get ready to support older Singaporeans, one way or another

SINGAPORE (June 17): Researchers in Singapore have determined that $1,379, down to the dollar, is what an elderly person living alone would need every month to thrive in today’s Singapore. The sum covers an annual $500 holiday, budgets for one restaurant meal a month, and allows the person to buy clothes and accessories for special occasions, as well as gifts for friends.

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Early CPF withdrawals indicate anxiety; more nest eggs needed for future

SINGAPORE (Sept 10): It will be more than a decade from now before Tee, 43, can withdraw some cash from her Central Provident Fund (CPF) savings, but she has already made up her mind. Once she turns 55, the electrical engineer hopes to withdraw up to “tens of thousands” of dollars from her Ordinary Account (OA) and Special Account (SA) savings. This is the milestone age when the Retirement Account (RA) is created, and partial withdrawal from then on is allowed depending on one’s level of savings.

Singapore's CPF ranked 9th pension fund in the world

SINGAPORE (Sept 3): Singapore’s Central Provident Fund ranked 9th in the global provision fund, according to the latest global 300 research from Willis Towers Watson’s Thinking Ahead Institute.

The city state maintained its position from the previous year with its assets amounting to US$269.1 billion ($369 billion).

This year, Asia featured prominently with a total of seven pension funds in the top 20. Apart from Singapore, Japan’s Government Pension Investment also maintained its top spot with its assets totalling US$1.44 trillion.

6 ways Singapore has set the bar for developing deep capital markets

SINGAPORE (April 12): Many emerging market (EM) policymakers are still struggling with the hurdles of implementing the changes required to create vibrant and well-performing capital markets, despite understanding how important it is to do so in order to support the real economy.

According to McKinsey & Company, the challenges range from limitations in private sector engagement, to vicious cycles of underdevelopment resulting from a piecemeal approach to deepening capital markets.

CPF now among the top 8 pension funds in the world

SINGAPORE (Sept 6): Singapore’s Central Provident Fund (CPF) has leapfrogged over Canada Pension and PFZW of the Netherlands to become the eighth-largest pension fund in the world, with assets worth some US$211.4 billion ($286.8 billion) as at Dec 31, 2015.

This is according to research released on Monday by US investment newspaper Pensions & Investments and global advisory firm Willis Towers Watson.

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