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The Syrian conflict, Johor reclamation projects and riots in Vietnam industrial parks were among questions tabled in Parliament on Wednesday. Separately, MPs resumed debate on the Medishield Life scheme.


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Help workers save more to improve retirement adequacy: Heng Chee How

Measures to do so can include helping the economically inactive return to work and reviewing the CPF contribution ceiling, said the Senior Minister of State in the Prime Minister's Office.

SINGAPORE: To save more for retirement, workers can be helped to earn more while they are still working. This will increase their chances of accumulating savings, said Senior Minister of State in the Prime Minister's Office, Heng Chee How, in Parliament on Tuesday (May 27).

But he qualified that consumption expectations and choices must remain realistic.

Other ways to improve retirement adequacy can include reducing unemployment through skills upgrading, he suggested, so that economically inactive citizens can return to work and build up their Central Provident Fund (CPF) savings.

A review of the current CPF contribution ceiling may also help those earning just above the current ceiling of S$5,000 per month save more in their CPF accounts. This will benefit professionals, managers and executives in particular, he said. 

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