Singapore retirement system ranks top in Asia, but improvements needed

Singapore

SINGAPORE'S retirement system, comprising the Central Provident Fund (CPF), has been ranked the top system in Asia and 10th in the global ranking by the Mercer CFA Institute Global Pension Index (MCGPI).

Singapore's overall index value, compiled from scores in sub-indexes, fell slightly from 71.2 last year to 70.7, due mainly to the economic effects of Covid-19. The overall average index value, based on a total of 43 retirement systems, was 61. For each sub-index, Singapore's scores were 81.5 for integrity; 73.5 for adequacy; and 59.8 for sustainability.