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Retirement for ordinary people

Retirement systems around the developed world are facing the problems of not being able to pay out what was promised, or falling short of giving what people need for a reasonable standard of living in their old age. SMU president Arnoud De Meyer and MIT Sloan School of Management finance professor and Nobel laureate Robert Merton discuss how to tackle that. CAI HAOXIANG reports
Monday, January 13, 2014 - 06:00
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Saving for the future: Ensuring the economy keeps humming so that Singapore's elderly can be taken care of is a constant preoccupation of policymakers. - FILE PHOTO

THE problem is simply stated. One of the biggest challenges that the government is facing is how to provide for a shrinking and ageing population that is living longer. Issues span the socioeconomic and political spheres. Singapore is grappling with the problem of a highly competitive, stressful