Employee Benefits in Singapore 2017

Market: Financial Services

Singapore, 66 pages report, published by GlobalData

Report ThumbnailMarch-2018
Employee Benefits in Singapore 2017

Summary

The Republic of Singapore’s social security system is founded on principles of self-provision and self-reliance; the government limits expenditure on social security schemes. Government policy has been that each generation must earn and save enough for their entire life cycle, with each individual responsible for their own financial sustenance after retirement. The Central Provident Fund (CPF) is a key component of the Singaporean social security sys

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  • List of Figures
  • Figure 1: Singapore - Main Institutions of Social Security System
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  • List of Tables
  • Table 1: Insurance Industry Definitions
  • Table 2: Singapore - Country Statistics
  • Table 3: Singaporean CPF Contribution Rates
  • Table 4: Singaporean CPF Contribution Rates
  • Table 5: Singaporean CPF Contributions - Distribution to Accounts in 2016
  • Table 6: Singaporean Draw-Down Age to Receive Annuities
  • Table 7: Singapore - Minimum Sums to be Retained in a Retirement Account
  • Table 8: Enhanced Retirement Sum
  • Table 9: Basic Retirement Sum
  • Table 10: Singaporean ComCare Public Assistance - C
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  • Table of Contents
  • 1 EXECUTIVE SUMMARY
  • 2 INTRODUCTION
  • 2.1 What is this Report About?
  • 2.2 Definitions
  • 3 COUNTRY STATISTICS
  • 4 OVERVIEW OF EMPLOYEE BENEFITS IN SINGAPORE
  • 5 REGULATIONS
  • 6 STATE AND COMPULSORY BENEFITS
  • 6.1 Retirement Benefits
  • 6.1.1 Introduction
  • 6.1.2 Types of retirement plan
  • 6.1.3 Eligibility
  • 6.1.4 Age
  • 6.1.5 Benefits
  • 6.1.6 Payment options
  • 6.1.7 Typical employer practice
  • 6.1.8 Employee and employer contributions
  • 6.1.9 Taxation
  • 6.2 Death in Service
  • 6.2.1 Introduction
  • 6.2.2 Eligibility
  • 6.
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