Singapore - Overview of the Retirement Scheme (CPF) capacity against Ageing. How long can a Singaporean retire with his current savings?
The Retirement Scheme in Singapore works through a mandatory contribution by any employee/employer to a Government managed fund called CPF (Central Provident Fund). As Singaporean work they prepare their retirement through such scheme mainly.
Yet, is it enough?
Do Singapore Citizens have enough to support financially their retirement?
Well, data shows that Singaporean have less than 7.5 years of spending at the age of 60-65 when their life expectancy reached a all time high of 84 years.
Worse, such data has been computed on best estimates (no inflation, no individual debt, low monthly spending...) Such figures are a premise of more in-depth paper to be published later this year.
Matthias de Ferrieres has more than 15 years experience in the insurance industry in Asia.