Abstracts

Human resources and labor relations

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The CPF

Article Abstract:

The social security system of Singapore, which is known as the Central Provident Fund, (CPF) was started in 1955 as a means of providing retired employees continued financial support during old age. The CPF is funded by both employees and employers who contribute up to 40% of their monthly wages. The CPF had a total net balance of more than $73 billion in 1996. The CPF provides a variety of benefit plans for its members such as health-care benefits, retirement benefits, education scheme, non-residential properties scheme, home protection and home ownership plans.

Social aspects, Models, Singapore

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Retirement

Article Abstract:

The provision of general social security pensions are currently being studied in Sweden. A new general pension system was supposed to be introduced in 1997, if not for the government's decision to review it. The new system is based on a defined contribution, in which an annual premium of 18.5% of the salary is allotted for future benefits. The premium consists of two parts, the 16.5% and 2% of salary. Sweden is currently using the two systems, the pay- as-you-go system and the future funded system.

Sweden, Retirement benefits, Solomon Islands

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Pension transfer values in the Netherlands

Article Abstract:

The Dutch government uses an innovative valuation method for transfer values. In this method, accrued benefits are computed according to severa salary schemes regulations without allowance for future salary increases or excess investment income at an annual rate of 4.0%. However, the legal right to a transfer value in the Netherlands is only applicable to employees leaving a pension scheme after Jul. 8, 1994.

Planning

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