Singapore's retirement system tops in Asia
The retirement system of Singapore takes the top spot amongst Asian countries and regions, and ranked seventh out of 37 retirement systems globally, according to the latest Melbourne Mercer Global Pension Index (MMGPI).
Singapore achieved the highest adequacy index – which measures benefits, savings and tax support among other things – in Asia. (Source: The Straits Times)Singapore (VNA) – The retirement system of Singapore takes the top spot amongst Asian countries and regions, and ranked seventh out of 37 retirement systems globally, according to the latest Melbourne Mercer Global Pension Index (MMGPI).
Singapore received a B- grade in Asia and was the only Asian country to break the 70 mark (70.8) index value in the region.
Assessing retirement systems across the sub-indices of adequacy, sustainability and integrity, Singapore topped the adequacy index in Asia - which measures benefits, savings, tax support, home ownership, and growth in assets among others.
Hong Kong and Malaysia followed, both improving to C from C- previously.
Globally, the Netherlands recorded the highest index value (81.0), and has consistently held first or second position for 10 of the past 11 MMGPI reports./.
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