The Central Provident Fund in Singapore

Abstract

Since its inception in 1955, Singapore’s provident fund system has become the primary source of retirement income for most Singaporeans. Against a backdrop of growing pension deficits and funding gaps in pension arrangements worldwide, the design of the CPF system has attracted much attention from public administrators, policymakers and researchers alike. This case study will examine how the CPF system designed, the key components of the system, and how it has evolved over time to cater to the varied demands of different demographic segments of the population.