Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund

Retirement systems are increasingly asked to do an ever-better job of enhancing the performance of pension investments. The Singaporean Central Provident Fund permits pension system participants to keep their money in a government-run investment pool, or if they wish, they may select professionally...

Full description

Saved in:
Bibliographic Details
Main Authors: KOH, Benedict S. K., Mitchell, Olivia S., FONG, Joelle H. Y.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2008
Subjects:
CPF
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/1092
https://ink.library.smu.edu.sg/context/lkcsb_research/article/2091/viewcontent/CostStructuresSingaporeCPF_Pensions_2008.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Singapore Management University
Language: English
id sg-smu-ink.lkcsb_research-2091
record_format dspace
spelling sg-smu-ink.lkcsb_research-20912017-02-28T09:01:35Z Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund KOH, Benedict S. K. Mitchell, Olivia S. FONG, Joelle H. Y. Retirement systems are increasingly asked to do an ever-better job of enhancing the performance of pension investments. The Singaporean Central Provident Fund permits pension system participants to keep their money in a government-run investment pool, or if they wish, they may select professionally managed unit trusts for their retirement accumulations. Opting for investment choice also exposes members to additional investment costs not charged by the government-managed account. This paper explores the charges levied by the private fund managers and we show that foreign ownership, active style of management and equity/balanced funds tend to be most expensive. We conclude with a discussion of policy options available to reduce retirement system costs. 2008-01-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/lkcsb_research/1092 info:doi/10.1057/pm.2008.3 https://ink.library.smu.edu.sg/context/lkcsb_research/article/2091/viewcontent/CostStructuresSingaporeCPF_Pensions_2008.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University pension retirement investment portfolio investment choice expenses Singapore CPF Asian Studies Finance and Financial Management
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic pension
retirement
investment
portfolio
investment choice
expenses
Singapore
CPF
Asian Studies
Finance and Financial Management
spellingShingle pension
retirement
investment
portfolio
investment choice
expenses
Singapore
CPF
Asian Studies
Finance and Financial Management
KOH, Benedict S. K.
Mitchell, Olivia S.
FONG, Joelle H. Y.
Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund
description Retirement systems are increasingly asked to do an ever-better job of enhancing the performance of pension investments. The Singaporean Central Provident Fund permits pension system participants to keep their money in a government-run investment pool, or if they wish, they may select professionally managed unit trusts for their retirement accumulations. Opting for investment choice also exposes members to additional investment costs not charged by the government-managed account. This paper explores the charges levied by the private fund managers and we show that foreign ownership, active style of management and equity/balanced funds tend to be most expensive. We conclude with a discussion of policy options available to reduce retirement system costs.
format text
author KOH, Benedict S. K.
Mitchell, Olivia S.
FONG, Joelle H. Y.
author_facet KOH, Benedict S. K.
Mitchell, Olivia S.
FONG, Joelle H. Y.
author_sort KOH, Benedict S. K.
title Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund
title_short Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund
title_full Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund
title_fullStr Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund
title_full_unstemmed Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund
title_sort cost structures in defined contribution systems: the case of singapore's central provident fund
publisher Institutional Knowledge at Singapore Management University
publishDate 2008
url https://ink.library.smu.edu.sg/lkcsb_research/1092
https://ink.library.smu.edu.sg/context/lkcsb_research/article/2091/viewcontent/CostStructuresSingaporeCPF_Pensions_2008.pdf
_version_ 1770569796449992704