Daily Archives: 2007-09-04

3rd World Savings, 1st World Cost of Living

This is a letter from Jason, one of our readers. It has been argued strongly that elderly Singaporeans are not saving enough, despite the CPF scheme. This is hardly surprising. The CPF was introduced in 1955 when Singapore was a Third World colony. Our per capita GDP (at current market prices) in 1960 was S$1,306. This figure rose significantly to …

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