November 2021
05Nov

The Skill-Specific Automatability of Aging Workers and Retirement Decisions

By Zeewan Lee Much of the discourse on the impact of automation on labor supply tends to assess the labor force as a whole, thereby disregarding the marginal effect on aging workers. In lights of the growing technological changes, we assess the linkage between the automatability of workers and retirement timing. Based on the theoretical model of task-based technological changes and drawing data from the Health and Retirement Study and O*NET, we create an Automatability Index based on workers’ primary...

November 5, 2021
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September 2021
21Sep

Singapore- Ministry of Manpower Sets up Advisory Committee to Protect GIG Economy Workers

Singapore’s Ministry of Manpower announced the formation of the Advisory Committee on Platform Workers. The Committee aims to strengthen protections for self-employed persons who work for online platforms, specifically delivery persons, private-hire car drivers, and taxi drivers. Read also Uber to pay pensions to all its UK drivers, backdated to 2017 At its first meeting last week, the Advisory Committee noted the lack of basic job protections due to the nature of platform work, and decided on three priority areas to...

September 21, 2021
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August 2021
12Aug

45% of Singaporeans surveyed have not started planning for retirement

This was more apparent in the younger demographic (aged below 35), a survey has noted. Reasons include: 20% of plan to rely on their spouse or family members for it, and 61% are confident they will have sufficient funds for it. More details here. One in three Singaporeans (39%) are worried they will not have enough funds for retirement, yet not many are acting on it, a recent report by Endowus has found. In particular, this was seen more in respondents...

August 12, 2021
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05Aug

1 in 3 Singaporeans are worried about retirement inadequacy and 45% have yet to start planning: Endowus Singapore Retirement Report 2021

39% of Singaporeans are worried about retirement inadequacy, with women being at higher risk of retirement inadequacy than men 72% of Singaporeans desire higher returns for their investments, but despite that, only 25% are currently investing their CPF 31% of Singaporeans have indicated that they would like assistance in the form of tools to help them understand the impact of financial decisions around CPF SINGAPORE, Aug. 4, 2021 /PRNewswire/ -- The Endowus Singapore Retirement Report reveals that retirement inadequacy...

August 5, 2021
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January 2021

25Jan

Singapore. SGX Accelerates Sustainability Drive With Launch Of ESG Derivatives

Suite of four new derivatives a key thrust of SGX FIRST initiative Launch further broadens multi-asset partnership with FTSE Russell Singapore Exchange (SGX) is accelerating its SGX FIRST sustainability agenda with the launch of its pioneering suite of ESG derivatives today. SGX developed the new contracts in partnership with FTSE Russell to offer investors more choice in promoting the integration of Environment, Social and Governance (ESG) factors into institutional investment portfolios on an award-winning market infrastructure. The SGX FIRST...

January 25, 2021
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July 2020

17Jul

Supporting Seniors: How Low-Income Elderly Individuals Respond to a Retirement Support Program

By Sumit Agarwal, Wenlan Qian, Tianyue Ruan, Bernard Yin Yeung Insufficient savings for retirement expose individuals to financial vulnerability in the post-retirement years and prompt governments to consider support measures. We study a government cash subsidy program for the low-income elderly population in Singapore. Using comprehensive, high-frequency transaction data, we find that elderly individuals increase spending by 0.7 dollars per dollar of subsidy received. We also show that they increase food expenditure and the variety of retail purchases. The...

July 17, 2020
Adequacy, Articles, , ,
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08Jul

Does early access to pension funds improve health?

In a recent study from Singapore, early access to pension wealth was associated with improved health status. The findings are published in Economic Inquiry. Singapore has a unique policy that allows individuals to withdraw a proportion of their pension savings after their 55th birthday, which relaxes individuals' borrowing constraints. To examine its health impacts, investigators analyzed monthly survey data from 2015 to 2019, comparing individuals' self-reported health status before and after their 55th birthday. The results indicated that early...

July 8, 2020
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April 2020

20Apr

US. We Need a New Social Contract for the Coronavirus

Our collective behavior will be the primary determinant of whether we can keep this virus in check. A team of infectious disease epidemiologists has calculated that we must reduce our social contacts by 65 percent from what they were before the virus started spreading. Everyone wants to get the country back to work, school, and together again as soon as possible. On Friday, the Trump administration announced it wants to do that in phases and allow each governor...

April 20, 2020
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20Apr

5 benefits this Singaporean system has over other pension systems

If you’ve wondered how CPF measures up with other countries’ pension systems. The CPF, or Central Provident Fund, is a social security scheme funded by contributions from both employers and employees. Read also India. No deduction in pension amid COVID-19 outbreak: Union Government It helps Singaporeans set aside savings for retirement, as well as for other important things like housing and healthcare. Read also IMF warns of global social unrest amid coronavirus pandemic What sets the CPF apart from other pension systems? Here...

April 20, 2020
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February 2020

19Feb

How Japan and Singapore are reinventing old age

A new demographic dividend – the “longevity dividend” – is emerging as populations age; Singapore, one of the most rapidly ageing populations in the world, and Japan, where around 25% of the population is older than 65, are already responding to this demographic shift and benefit from it; From innovative retirement income and care programmes, Japan and Singapore's governments are already seeing positive results. Also Read Mongolian commercial banks resume providing loans to pensioners Demographic change has favoured economic...

February 19, 2020
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