Singapore can be first in many thing but ----------

Pensions: S'pore ranks low

CPF scheme could be improved despite high contribution rates

By Lorna Tan, Senior Correspondent
		Singapore scored 57 out of 100, above Japan, China and Germany, but below the average score of 61.4. No country in the index got an A-grade - a score over 80 - proving that even the world's top pension models need refinement to support the rapidly ageing population. -- ST PHOTO: DESMOND LIM

SINGAPORE has done relatively poorly in a new survey on one of the toughest policy issues facing nations around the globe - how to ensure adequate income for the growing numbers of retirees.

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The Republic is ranked eighth in a new global index that compares the retirement income systems of 11 countries - but it beat Japan, China and Germany. There are three Asian countries in the inaugural Melbourne Mercer Global Pension Index, which was released yesterday by consultancy firm Mercer.
The index aims to provide a clearer insight into how the various countries are grappling with economic and social issues related to retirees' income.
Many nations, including Singapore, face having a higher proportion of retirees because of low birth rates and longer life expectancy. That means fewer taxpayers relative to retirees.
The Netherlands got the top ranking with a score of 76.1 out of a maximum of 100, followed by Australia (74), Sweden (73.5) and Canada (73.2). Singapore scored 57, below the average score of 61.4.