Country with free healthcare, pension, no income tax

By Leong Sze Hian

I have just returned from a country which I have visited for about half a dozen times.

 

A country that has

  • Free healthcare – you just pay a nominal $1, no matter how serious or major your medical treatment or operation is.
  • Free pension from age 60 (they have a contribution pension plan from your salary, but the free pension from age 60 is given to all, on top of the contribution pension scheme).
  • Free education.
  • Education allowance for children from needy families.
  • Financial assistance monthly allowance for the needy.
  • Monthly allowance for orphans.
  • Monthly allowance for the disabled.
  • Free land to build your own house, or public housing from about $40,000 – interest-free home loans.
  • Free house repair to houses caused by fire, natural disaster, up to a certain sum.
  • No income tax.
  • Inflation -0.2 per cent (H1/2012).
  • Unemployment rate : 1.7 per cent (2012).
  • Population annual rate of increase : 1.6 per cent (2012).
  • Labour force participation rate : 66.6 per cent (2012).
  • Classified as a developed country.
  • Ranked 5th in the world by gross domestic product per capita at purchasing power parity.
  • Public debt at 0% of the national GDP.
  • In the 2010 Human Development Report released by UNDP, it scored an HD Index of 0.805 and thus is included. in the list of forty-two “Very High Development” countries.
  • Citizenship by birth only – foreigners and permanent residents cannot become citizens.

And this country is _______

 

References:

The country’s Key Indicators

International Monetary Fund (IMF)

Wikipedia

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