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<h1>Social Security Programs Throughout the World: Asia and the Pacific, 2002</h1>
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<h1>Singapore</h1>
<div class="exchangeRate">Exchange rate: U.S.$1.00 equals 1.78 Singapore dollars (S$).</div>
<h2>Old Age, Disability, and Survivors</h2>
<h3>Regulatory Framework</h3>
<p><span class="h4">First law:</span> 1953.</p>
<p><span class="h4">Current law:</span> 1985, with 1991 amendment.</p>
<p><span class="h4">Type of program:</span> Provident fund system providing lump-sum benefits and annuity payments.</p>
<p>Note: Central Provident Fund (CPF) operates four types of individual account: an ordinary account, to finance the purchase of a home, approved investments, CPF insurance, and education; a special account, principally for old-age provisions; a medisave account, to pay for hospital treatment, medical care, and approved medical insurance; and, from age 55, a retirement account, to finance periodic payments from age 62.</p>
<h3>Coverage</h3>
<p>Employed persons earning more than S$50 a month and some self-employed persons.</p>
<p>Exclusions: Members of approved equivalent private plans.</p>
<p>Special pension system for certain categories of public-sector employee.</p>
<h3>Source of Funds</h3>
<p><span class="h4">Insured person:</span> 20% of earnings if monthly earnings are over S$363; 5% of earnings plus 1/3 of the amount over S$200 if monthly earnings are between S$200 and S$363; no contributions if monthly earnings are under S$200.</p>
<p>Fund members aged 55 or older contribute at lower rates.</p>
<p>Maximum earnings for contribution purposes are S$6,000.</p>
<p>From October 1, 2002, 20% of earnings if monthly earnings are over S$750; 0.6% of the amount over S$500 if monthly earnings are between S$500 and S$750; no contributions if monthly earnings are under S$500.</p>
<p><span class="h4">Employer:</span> 16% of payroll if monthly earnings are S$50 or over; no contribution for monthly earnings under S$50.</p>
<p>Contributions for fund members aged 55 or older are paid at lower rates.</p>
<p>Maximum earnings for contribution purposes are S$6,000.</p>
<p><span class="h4">Government:</span> None.</p>
<p>Depending on the fund member's age, between 3% and 4.25% of the above contributions are placed in the medisave account to cover medical expenses (see Sickness and Maternity, below).</p>
<h3>Qualifying Conditions</h3>
<p><span class="h4">Old-age benefit:</span> Age 55.</p>
<p><span class="h4">Disability benefit:</span> Permanent incapacity for work.</p>
<p><span class="h4">Survivor benefit:</span> Named by the fund member as the beneficiary.</p>
<h3>Old-Age Benefits</h3>
<p><span class="h4">Old-age benefit (ordinary and special accounts):</span> A lump sum equal to total employee and employer contributions, plus at least 2.5% compound interest, less drawdowns (see below).</p>
<p>Retirement account: At age 55, fund members must place S$75,000 in the retirement account (part of which is a prescribed cash amount, the remainder can be pledged property) to ensure continued periodic income from age 62.</p>
<p>Drawdown payments: The drawdown of funds from the member's ordinary and special accounts is permitted for such purposes as children's education fees, the purchase of a home, and the purchase of approved financial products.</p>
<p>Compound interest rate: The rate is linked to average commercial savings and fixed deposit rates and is adjusted four times a year: January 1, April 1, July 1, and October 1. The interest awarded to individual provident fund accounts is calculated monthly, compounded, and credited annually.</p>
<h3>Permanent Disability Benefits</h3>
<p><span class="h4">Disability benefit (ordinary and special accounts):</span> A lump sum equal to total employee and employer contributions, plus at least 2.5% compound interest, less drawdowns.</p>
<p>Compound interest rate: The rate is linked to average commercial savings and fixed deposit rates and is adjusted four times a year: January 1, April 1, July 1, and October 1. The interest awarded to individual provident fund accounts is calculated monthly, compounded, and credited annually.</p>
<h3>Survivor Benefits</h3>
<p><span class="h4">Survivor benefit (ordinary and special accounts):</span> A lump sum equal to total employee and employer contributions, plus at least 2.5% compound interest, less drawdowns. The benefit is payable to named survivors or legal heirs.</p>
<p>Compound interest rate: The rate is linked to average commercial savings and fixed deposit rates and is adjusted four times a year: January 1, April 1, July 1, and October 1. The interest awarded to individual provident fund accounts is calculated monthly, compounded, and credited annually.</p>
<h3>Administrative Organization</h3>
<p>Ministry of Manpower provides general supervision.</p>
<p>Managed by a tripartite board and a chairman, the Central Provident Fund is responsible for the custody of the fund and the administration of the program.</p>
<h2>Sickness and Maternity</h2>
<h3>Regulatory Framework</h3>
<p><span class="h4">First laws:</span> 1968 (employer liability) and 1983 (provident fund).</p>
<p><span class="h4">Current laws:</span> 1996 (employer liability) and 1983 (provident fund).</p>
<p><span class="h4">Type of program:</span> Multiple employer liability (cash sickness and maternity benefits), provident fund (medical care), and social assistance (medical care) systems.</p>
<h3>Coverage</h3>
<p><span class="h4">Cash benefits (employer liability):</span> All employed persons.</p>
<p><span class="h4">Medical care (provident fund):</span> Employed persons and some self-employed persons.</p>
<h3>Source of Funds</h3>
<h4>Insured person</h4>
<p><span class="h5">Cash benefits (employer liability):</span> None.</p>
<p><span class="h5">Medical care (provident fund):</span> Employed persons contribute between 3% and 4.25% (depending on age) of monthly salary to the medisave account to cover the cost of hospitalization and medical expenses.</p>
<p>The maximum monthly contribution to the medisave account (depending on age) is between S$180 and S$255.</p>
<p>The above contributions are part of the provident fund contributions made under Old Age, Disability, and Survivors, above.</p>
<p>Self-employed persons make an annual contribution of between 6% and 8% (depending on age) of annual net income.</p>
<p>The maximum annual contribution to the medisave account for a self-employed person (depending on age) is between S$4,320 and S$5,760.</p>
<h4>Employer</h4>
<p><span class="h5">Cash benefits (employer liability):</span> Total cost.</p>
<p><span class="h5">Medical care (provident fund):</span> Between 3% and 4.25% (depending on the employee's age) of the employee's monthly salary for his or her medisave account.</p>
<p>The maximum contribution made for each employee's medisave account (depending on the employee's age) is between S$180 and S$255 a month.</p>
<p>The above contributions are part of the provident fund contributions made under Old Age, Disability, and Survivors, above.</p>
<h4>Government</h4>
<p><span class="h5">Cash benefits (employer liability):</span> None.</p>
<p><span class="h5">Medical care (provident fund):</span> No fixed amount; fund members are subsidized when using certain classes of hospital wards.</p>
<h3>Qualifying Conditions</h3>
<p><span class="h4">Cash sickness benefit (employer liability):</span> At least 6 months' employment.</p>
<p><span class="h4">Cash maternity benefit (employer liability):</span> At least 180 days' employment immediately preceding childbirth. Benefit is limited to the first two children.</p>
<p><span class="h4">Medical benefits (provident fund):</span> Members of the medisave program. Persons over age 55 are required to maintain a balance of S$23,000 (increasing to S$25,000 in July 2003) in the medisave account to meet the cost of future hospitalization.</p>
<h3>Sickness and Maternity Benefits</h3>
<p><span class="h4">Cash sickness benefit (employer liability):</span> Fourteen days of paid sick leave a year, or up to 60 days if the insured is hospitalized.</p>
<p><span class="h4">Cash maternity benefit (employer liability):</span> 100% of wages for up to 4 weeks before and 4 weeks after childbirth.</p>
<h3>Workers' Medical Benefits</h3>
<p>Outpatient treatment and inpatient hospital care in government hospitals, including day-surgery treatment and prescribed medicines. The cost of medical treatment is deducted from the fund member's balance in the medisave account for approved treatments.</p>
<h3>Dependents' Medical Benefits</h3>
<p>Same as for the family head. Members can use savings in their medisave account to help pay for the medical expenses of immediate family members.</p>
<h3>Administrative Organization</h3>
<p><span class="h4">Employer liability:</span> Ministry of Manpower provides general supervision and enforces the law.</p>
<p><span class="h4">Provident fund:</span> Central Provident Fund administers the program.</p>
<p><span class="h4">Medical services:</span> Ministry of Health provides medical services through government hospitals.</p>
<h2>Work Injury</h2>
<h3>Regulatory Framework</h3>
<p><span class="h4">First law:</span> 1933.</p>
<p><span class="h4">Current law:</span> 1990.</p>
<p><span class="h4">Type of program:</span> Employer-liability system or compulsory insurance with a private carrier.</p>
<h3>Coverage</h3>
<p>All manual labor, except domestic servants, casual employees, and family labor; salaried employees earning less than S$1,600 a month.</p>
<p>Special program for the police.</p>
<h3>Source of Funds</h3>
<p><span class="h4">Insured person:</span> None.</p>
<p><span class="h4">Employer:</span> Total cost, through direct provision of benefits or insurance premiums.</p>
<p><span class="h4">Government:</span> None.</p>
<h3>Qualifying Conditions</h3>
<p><span class="h4">Work injury benefits:</span> There is no minimum qualifying period.</p>
<h3>Temporary Disability Benefits</h3>
<p>100% of earnings for up to 60 days if hospitalized and 14 days if not hospitalized; thereafter, 2/3 of monthly earnings. Benefit is payable from the first day of incapacity for a maximum of 1 year.</p>
<h3>Permanent Disability Benefits</h3>
<p>If totally disabled, a lump sum equal to 6 to 12 years' earnings, according to age.</p>
<p>The minimum lump-sum benefit is S$49,000.</p>
<p>The maximum lump-sum benefit is S$147,000.</p>
<p>Constant-attendance supplement: Equal to 25% of the lump-sum payment.</p>
<p>Partial disability: A lump sum calculated in relation to the assessed degree of incapacity or according to the schedule in law for specified injuries.</p>
<h3>Workers' Medical Benefits</h3>
<p>Necessary medical treatment, hospitalization, appliances, and medicines. Medical care may be provided in a government facility.</p>
<h3>Survivor Benefits</h3>
<p>A lump sum equal to between 4 and 9 years of the insured's earnings, according to the insured's age at the time of death. The benefit is payable to eligible dependents.</p>
<p>The minimum lump sum is S$37,000.</p>
<p>The maximum lump sum is S$111,000.</p>
<h3>Administrative Organization</h3>
<p>Ministry of Manpower provides general supervision.</p>
<p>Commissioner for Labor enforces the law, approves agreements between employers and claimants, and distributes survivor benefits.</p>
<p>Employers must insure liability with private insurance companies. The Ministry of Manpower may exempt any employer or class of employers from compulsory insurance.</p>
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