Economists say Central Provident Fund (CPF) contribution rates should be raised to 40 per cent in the future, up from the current 37 per cent for those aged 50 and below.
This will help Singaporeans save better for retirement, taking into consideration factors such as inflation, they say.
But they stress that this should not happen until the global economy has recovered further.
Their remarks follow the labour movement's recent calls for rates to eventually be raised to meet the needs of longer-living Singaporeans.
Wednesday, 26 February 2014
NTU ranks among world top 10 for three subjects
Three subjects offered at the Nanyang Technological University (NTU) have ranked among the world's top ten -- a first for the university.
According to the 2014 Quacquarelli Symonds (QS) World University Rankings by Subject, NTU's Communication & Media Studies is ranked 6th in the world, Materials Science at 8th position, and Electrical & Electronic Engineering is ranked 10th.
NTU said the subject Communication & Media Studies jumped an impressive 17 positions within two years since QS started ranking this subject, to become Number 1 in Singapore and in the Asia-Pacific.
According to the 2014 Quacquarelli Symonds (QS) World University Rankings by Subject, NTU's Communication & Media Studies is ranked 6th in the world, Materials Science at 8th position, and Electrical & Electronic Engineering is ranked 10th.
NTU said the subject Communication & Media Studies jumped an impressive 17 positions within two years since QS started ranking this subject, to become Number 1 in Singapore and in the Asia-Pacific.
Tuesday, 25 February 2014
Some 70 athletes to represent S'pore at Commonwealth Games
Some 70 athletes will represent Singapore at the Commonwealth Games in Glasgow in July.
According to the Singapore National Olympic Council (SNOC), the final list of athletes and sports will be confirmed in June.
It has shortlisted up to 90 athletes for the Glasgow Games.
Six sports have been confirmed and they are athletics, badminton, shooting, swimming, table tennis and gymnastics.
Athletes from a further four sports could also make the cut.
According to the Singapore National Olympic Council (SNOC), the final list of athletes and sports will be confirmed in June.
It has shortlisted up to 90 athletes for the Glasgow Games.
Six sports have been confirmed and they are athletics, badminton, shooting, swimming, table tennis and gymnastics.
Athletes from a further four sports could also make the cut.
Govt will ensure MediShield Life premiums affordable: Gan
Health Minister Gan Kim Yong has said the government will ensure that MediShield Life premiums will be affordable for Singaporeans.
And lower-income families may receive more help to pay for the premiums.
Mr Gan was speaking to reporters on Tuesday after the recording of the Budget Forum in Mandarin organised by MediaCorp.
$8 billion has been set aside for the Pioneer Generation Fund. It will help 450,000 pioneers cope with healthcare costs for the rest of their lives.
And lower-income families may receive more help to pay for the premiums.
Mr Gan was speaking to reporters on Tuesday after the recording of the Budget Forum in Mandarin organised by MediaCorp.
$8 billion has been set aside for the Pioneer Generation Fund. It will help 450,000 pioneers cope with healthcare costs for the rest of their lives.
Most S’poreans plan to rely on savings, investments after retirement: Nielsen
The majority of Singaporeans polled in the Nielsen Global Survey about Aging said they plan to rely on their personal savings and investments as their primary source of income after retirement.
The survey, conducted between August and September 2013, polled more than 30,000 consumers in 60 countries throughout Asia Pacific, Europe, Latin America, the Middle East, Africa and North America.
The sample size in Singapore was 502.
The survey findings also showed that 29 per cent of Singaporean respondents plan to retire before they reach the age of 60.
The survey, conducted between August and September 2013, polled more than 30,000 consumers in 60 countries throughout Asia Pacific, Europe, Latin America, the Middle East, Africa and North America.
The sample size in Singapore was 502.
The survey findings also showed that 29 per cent of Singaporean respondents plan to retire before they reach the age of 60.
Sunday, 16 February 2014
Inspiring a dream and realising the extraordinary
Standing on the podium in Nay Pyi Taw, Myanmar with the national anthem playing over the speaker, Team Singapore cyclist Dinah Chan fought to hold back her tears as she realised a childhood dream after clinching Singapore’s first cycling gold medal in 16 years at the Southeast Asian (SEA) Games.
The moment was all the more poignant as her victory came less than three months after she was injured in a car accident, an incident which placed her involvement in the year-end biennial regional sports event in jeopardy.
“I was inspired by Joscelin Yeo and our Singapore swimmers back when I was still in school,” said Dinah. “They made me want to represent Singapore, and back then I started dreaming of standing on the podium one day."
The moment was all the more poignant as her victory came less than three months after she was injured in a car accident, an incident which placed her involvement in the year-end biennial regional sports event in jeopardy.
“I was inspired by Joscelin Yeo and our Singapore swimmers back when I was still in school,” said Dinah. “They made me want to represent Singapore, and back then I started dreaming of standing on the podium one day."
Friday, 14 February 2014
Singapore home prices may drop 10-15%, says DBS CEO
Singapore's property prices could fall by 10 to 15 per cent this year, as government cooling measures and mortgage curbs continue to dampen the property market.
This is the outlook from DBS Bank's CEO Piyush Gupta.
His comment came during the bank's results briefing on Friday.
Since 2009, the government has rolled out a series of measures to rein in property prices, and the impact is showing.
This is the outlook from DBS Bank's CEO Piyush Gupta.
His comment came during the bank's results briefing on Friday.
Since 2009, the government has rolled out a series of measures to rein in property prices, and the impact is showing.
Thursday, 13 February 2014
Build trust to resolve security challenges: Dr Ng
Tension between China and Japan over disputed islands in the East China Sea has flared to an all-time high, with both countries threatening to act against each other. Miscalculation could happen if both countries lacked the trust to work with each other to defuse tension.
This was one of the key security concerns highlighted by Minister for Defence Dr Ng Eng Hen in his keynote address at the second International Institute for Strategic Studies (IISS) Fullerton Forum: The Shangri-La Dialogue Sherpa Meeting, at the Fullerton Hotel on 13 Jan.
This was one of the key security concerns highlighted by Minister for Defence Dr Ng Eng Hen in his keynote address at the second International Institute for Strategic Studies (IISS) Fullerton Forum: The Shangri-La Dialogue Sherpa Meeting, at the Fullerton Hotel on 13 Jan.
Monday, 10 February 2014
S'pore, RSAF to ride on aerospace industry's bright prospects
The global aerospace industry, especially in Asian markets, is expected to grow at a much faster rate, and Singapore and the Republic of Singapore Air Force are both set to ride on this rapid growth to develop expertise and capabilities, noted Permanent Secretary for Defence Chan Yeng Kit.
Mr Chan was speaking at the Singapore Aerospace Technology and Engineering Conference (SATEC) as its keynote speaker on 10 Feb.
Mr Chan was speaking at the Singapore Aerospace Technology and Engineering Conference (SATEC) as its keynote speaker on 10 Feb.
Singaporean race driver makes history
Singaporean driver and Team Singapore motorsports athlete Andrew Tang (above in his Toyota racing car) has made history by being the first non-New Zealander to win the 2014 Toyota Racing Series in New Zealand after Round 5 of the series on 9 Feb 2014 (Sunday).
Prior to the final race of the five-stop championship, the 19-year-old was already leading the pack by seven points. He eventually finished third in the final race at Manfeild to clinch the title with 791 points, beating 22 other drivers from 14 countries. Andrew’s closest rival, Briton Jann Mardenborough, finished second in the overall standings.
Prior to the final race of the five-stop championship, the 19-year-old was already leading the pack by seven points. He eventually finished third in the final race at Manfeild to clinch the title with 791 points, beating 22 other drivers from 14 countries. Andrew’s closest rival, Briton Jann Mardenborough, finished second in the overall standings.
Resale private home transactions plunge 70.2%
The number of resale transactions in the non-landed private home market plunged 70.2 per cent in January compared to a year ago.
Analysts attributed the decline to the effects of cooling measures and loan curbs introduced last year.
According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 private homes were resold in January this year compared with the 1,039 resale deals closed in January 2013.
Analysts attributed the decline to the effects of cooling measures and loan curbs introduced last year.
According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 private homes were resold in January this year compared with the 1,039 resale deals closed in January 2013.
Friday, 7 February 2014
MAS, SGX propose measures to strengthen securities market
The Monetary Authority of Singapore and the Singapore Exchange have proposed measures to strengthen the securities market in Singapore.
To promote orderly trading, they have proposed that punters with open or unsettled positions be made to put up collateral when trading.
The proposal is one of several measures put up by MAS and SGX to promote more responsible investing in Singapore-listed stocks.
A consultation paper was issued on Friday.
The paper included proposals such as setting a minimum trading price for stocks listed on the SGX Mainboard to reduce volatility.
To promote orderly trading, they have proposed that punters with open or unsettled positions be made to put up collateral when trading.
The proposal is one of several measures put up by MAS and SGX to promote more responsible investing in Singapore-listed stocks.
A consultation paper was issued on Friday.
The paper included proposals such as setting a minimum trading price for stocks listed on the SGX Mainboard to reduce volatility.
Monday, 3 February 2014
Training against a thinking enemy
In a first for Exercise Forging Sabre, an integrated live-firing exercise, the SAF pits itself against a smart enemy.
A series of explosions rocked the vast desert expanse of Phoenix, Arizona, United States, as F-15SG and F-16C/D fighter planes, AH-64D Attack Helicopters, and High Mobility Artillery Rocket System (HIMARS) launchers unleashed a variety of precision bombs and missiles in a coordinated strike.
It was an impressive show of firepower - well-timed and clinical - typical of the 3rd Generation Singapore Armed Forces (SAF). But what was truly remarkable in the exercise was the battle before the live firing.
A series of explosions rocked the vast desert expanse of Phoenix, Arizona, United States, as F-15SG and F-16C/D fighter planes, AH-64D Attack Helicopters, and High Mobility Artillery Rocket System (HIMARS) launchers unleashed a variety of precision bombs and missiles in a coordinated strike.
It was an impressive show of firepower - well-timed and clinical - typical of the 3rd Generation Singapore Armed Forces (SAF). But what was truly remarkable in the exercise was the battle before the live firing.
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