Quote:
Originally Posted by Unregistered
May I know if doctors get pensions after they retire here in Singapore? Are they considered civil servants and how much in general do they get from their pensions? Will retirement benefits of being a civil servant be sufficient in deterring people from entering the private sector?
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A pension scheme is not sustainable. Worldwide hard to find a single pension fund is able to keep up with their liabilities. Pension scheme is good for the old but disastrous for the young who have to pay for it.
As such progressively Singapore has removed all pension scheme since 1980s.
Instead of pension, we have a
cpf scheme. All permanent resident and citizens will contribute 20% of their salary. While the employer will contribute another 17%. Exact percentage varies according to age.
CPF scheme is only sufficient if you are disciplined and do not use it for housing.