The report provides in-depth industry analysis, information and insights into employee benefits in Singapore, including:
An overview of state and compulsory benefits in Singapore
Detailed information about private benefits in Singapore
Insights into various central institutions responsible for the administration of the different branches of social security
The regulatory framework for employee benefits in Singapore
The Republic of Singapore’s social security system is founded on principles of self-provision and self-reliance; the country’s government limits its expenditure on social security schemes. The government’s policy has been that each generation must earn and save enough for their entire life cycle, with each individual being responsible for their own financial sustenance after their retirement. The Central Provident Fund (CPF) is a key component of Singaporean social security system. Most mandatory and state-sponsored benefits are limited to nationals and permanent citizens of the country.
This report provides a detailed analysis of employee benefits in Singapore:
It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
It covers an exhaustive list of employee benefits, including retirement benefits, death-in-service benefits, long-term disability, medical benefits, workmen’s compensation, maternity and paternity benefits, family benefits, minimum reources, unemployment, other benefits and private benefits
It highlights the economic and regulatory situations relating to employee benefits in Singapore
Reasons To Buy
Make strategic decisions using in-depth information related to employee benefits in Singapore
Assess the Singapore’s employee benefits market, including state and compulsory benefits and private benefits
Gain insights into the key employee benefit schemes offered by private employers in Singapore
Gain insights into key organizations governing Singapore’s employee benefits, and their impact on companies
The Central Provident Fund (CPF) plays an important role in Singapore’s social security system.
The CPF addresses employees’ retirement, medical, housing and education needs.
Numerous means-tested assistance programs provided by the Ministry of Social and Family Development and Ministry of Health cater to the needs of disabled people and lower-income groups.
Since most statutory benefits offered in Singapore are limited to citizens and permanent residents, benefits offered by private companies play a significant role in attracting and retaining talent. Employees are given an option to choose benefits that are suitable for them.