Are you curious about how other countries manage their retirement plans? We’ve done the leg work for you – have a look at how Singapore matches up with Hong Kong, Australia and Malaysia.
- CPF.gov – http://www.cpf.gov.sg
- MySuper Australia – http://bit.ly/1j9USzq
- Hong Kong MPF – http://www.mpfa.org.hk/eng/main/
- Malaysia EPF – http://www.kwsp.gov.my/portal/en/web/kwsp/home
- MySuper Australia – https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/super-investment-options#types
Corrections (29th May 2014):
A reader wrote in to highlight some inaccuracies in the table above, the following are the corrections:
- Value in US$ (billion) –the figures cited for all 4 countries are incorrect (all underreported)
- Personal contribution – the contribution limit for HK’s MPF is HK$25,000
- Interest rates – the figures cited for HK and Australia have a different basis. The 4% returns cited for HK’s MPF are net annualised returns, while the 5 to 8% returns cited for Australia’s MySuper are gross returns.
- Payout age – the payout age for Australia’s MySuper is age 60 and not age 65 as cited.
- Payout mechanism – For Malaysia’s EPF, members can withdraw their Account 2 balances from age 50, as well as Account 1 balances from age 55. Australia’s My Super allows full withdrawal as well as via income stream.
You might also like» When the heart is right, the politics will follow
» Avoid the Politics of hate?
» A Creative person’s Survival Guide to Singapore
» Your Letters: Boisterous vessels, Empty minds
» Minimum Wage: Collective Disagreement