Publication Type
Journal Article
Version
publishedVersion
Publication Date
1-2008
Abstract
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.
Keywords
pension, retirement, investment, portfolio, investment choice, expenses, Singapore, CPF
Discipline
Asian Studies | Finance and Financial Management
Research Areas
Finance
Publication
Pensions: An International Journal
Volume
13
Issue
1-2
First Page
7
Last Page
14
ISSN
1478-5315
Identifier
10.1057/pm.2008.3
Publisher
Palgrave
Citation
KOH, Benedict S. K.; Mitchell, Olivia S.; and FONG, Joelle H. Y..
Cost structures in defined contribution systems: The case of Singapore's Central Provident Fund. (2008). Pensions: An International Journal. 13, (1-2), 7-14.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/1092
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1057/pm.2008.3