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Full-Text Articles in Asian Studies
Enhancing Singapore’S Pension Scheme: A Blueprint For Further Flexibility, Koon Shing Kwong, Yiu Kuen Tse, Wai Sum Chan
Enhancing Singapore’S Pension Scheme: A Blueprint For Further Flexibility, Koon Shing Kwong, Yiu Kuen Tse, Wai Sum Chan
Research Collection School of Economics
Building a social security system to ensure Singapore residents have peace of mind in funding for retirement has been at the top of Singapore government’s policy agenda over the last decade. Implementation of the Lifelong Income For the Elderly (LIFE) scheme in 2009 clearly shows that the government spares no effort in improving its pension scheme to boost its residents’ income after retirement. Despite the recent modifications to the LIFE scheme, Singapore residents must still choose between two plans: the Standard and Basic plans. To enhance the flexibility of the LIFE scheme with further streamlining of its fund management, we …