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Median-income among older workers to gain most from changes

NUS economist Prof Chia says the annuity payout of this group of earners will be enhanced by close to 22% by 2030

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Older Singaporean workers whose incomes are in the middle of their cohort will benefit the most from being able to work longer and have more retirement savings over the next 10 years, based on calculations by an economist. Associate Professor Chia Ngee Choon, who has studied retirement adequacy, said on Friday that recent moves to raise the CPF contribution rates for older workers will enhance the annuity payout of median-income earners by close to 22 per cent come 2030.

Singapore

OLDER Singaporean workers whose incomes are in the middle of their cohort will benefit the most from being able to work longer and have more retirement savings over the next 10 years, based on calculations by an economist. Associate Professor Chia Ngee Choon, who has studied...

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