Dominus Ex Machina
- Sep 9, 2007
- AFL Club
- Port Adelaide
- Other Teams
- Dallas Cowboys, Chicago Bulls
I think it's because Singapore's system is basically like having one investment fund that handles everything, whereas Australia has diversification with superannuation. It also doesn't have social security at all, so you have to be a contributing member to society, which is why Australia would always be ahead.I have been aware of Singapore's pension system since the 1980's. It was Lee Kuan Yew's gift to Singapore to build up the capital of the place and help turn it into a banking centre of Asia and the world. Reckon it was 16%+12% when I first heard of it. Have always read the debates about the pros and cons of a forced savings system, but Singapore would be a shadow of itself if it wasn't implemented.
Whilst I don't know the ins and outs of all the systems, but it always surprises me when I see the national pension systems rated and Oz usually gets rated 2nd or 3rd and we are always ahead of Norway and Singapore.
This is the 2019 ratings
These Are the World’s Best (and Worst) Pension Systems
By Matthew BurgessOctober 20, 2019,
The holy grail would be a combination of the two, IMO.