Index payouts from CPF to inflation
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IN an annual review of retirement income systems around the world, the Melbourne Mercer Global Pension Index (MMGPI) awarded Singapore an overall B rating for its Central Provident Fund (CPF) system, making Singapore the best performer in Asia when it comes to providing adequate and sustainable income for retirement.
Despite being 10 points ahead of the average score among 30 countries, there are still ways for Singapore to improve on the CPF system to attain the elusive A grade, which no country received.
With the recent addition of the CPF Life plan, Singaporeans are given the option to decide if they want to increase their monthly payouts to keep pace with inflation, or to stick with the default plan.
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