CPF tops Asia again in global pension index

Demographic changes: A pedestrian on Boat Quay in Singapore. The country’s ageing population and lower birthrate presents challenges for its pension fund. — Bloomberg

SINGAPORE: Singapore’s pension system has kept its top spot in Asia in an annual global index for the 16th consecutive year and achieved the second-highest grade of B+ for the second year in a row.

Despite its strong performance, the Republic will have to address challenges arising from its low birth rates and increasing life expectancies to ensure the long-term viability of the Central Provident Fund (CPF), said pension expert Mercer and other analysts.