Singapore's score for retirement savings systems takes a step back

Singapore

SINGAPORE may have held on to top spot among Asian countries for a third consecutive year, but its retirement savings system has been downgraded in the 2015 Melbourne Mercer Global Pension Index.

In terms of index value, the Republic's retirement savings system has slipped from a B grade to C+. The drop is due to three factors, the first being a change in calculation, which reduced the level of pension assets as a percentage of gross domestic product for Singapore, or the amount of money set aside for retirement.