S'poreans ranked lowest
The Republic is at the bottom of a ranking of retirement income from pensions in the Asia-Pac region. -ST
Fri, Jan 09, 2009
The Straits Times
SINGAPOREANS are at the bottom of a ranking of retirement income from pensions in the Asia-Pacific region, says the Organisation for Economic Cooperation and Development (OECD).
And this is true at all income levels, according to the study, which covered 19 locations including Hong Kong, Taipei and Japan, The Business Times reported on Friday.
The Pensions at a Glance study, which also involved the World Bank, found that Singapore's average gross replacement rate - the value of the pension as a percentage of earnings when working - is just 13.1 per cent.
source :- http://news.asiaone.com/print/News/A...09-113489.html