Singapore's CPF has been ranked as one of the top 10 pension schemes in the world
Singapore's Central Provident Fund or CPF has been ranked as one of the top 10 pension schemes in the world.
According to the Melbourne Mercer Global Pension Index, Singapore was ranked seventh out of 20 countries in the study.
Singapore scored 66.5 overall, higher than the average of 60.
In 2012, Singapore scored 54.8.
Singapore was also ranked a Grade B, along with other countries like Switzerland, the UK and Canada.
The report says that a Grade B pension system is one with a sound structure, with many good features, but has some areas for improvement.
In the report, it also gave suggestions on ways to increase the overall index value for Singapore's system.
These include raising the minimum level of support available to the poorest aged members of society, and increasing the labour force
participation rate amongst older workers
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