The adequacy of CPF for old-age support

Abstract

The population of Singapore is fast ageing, rendering old-age support for retirees an increasingly important issue. This paper investigates the adequacy of CPF (Central Provident Fund), Singapore's fully-funded social security system based on mandatory contributions from both employers and employees, as a source of financial security for future retirees. This will be done through a series of simulations. Finally, we discuss the policy implications of our findings.