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Central Provident Fund
The Central Provident Fund Board (CPFB), commonly known as the CPF Board or simply the Central Provident Fund (CPF), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing needs in Singapore. The CPF is an employment-based savings scheme with the help of employers and employees contributing a mandated amount to the fund for their benefits. It is administered by the Central Provident Fund Board, a statutory board operating under the Ministry of Manpower which is responsible for investing contributions. The Global Pension Index, an index that assesses retirement income systems, placed Singapore as the best in Asia and 7th worldwide in 2023. CPF monies are used by the CPF Board to invest in the exclusive purchase of Government-issued Special Singapore Government Securities (SSGS), with the proceeds from these transactions going into the past reserves. As of September 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Singapore
The government of Singapore is defined by the Constitution of Singapore, Constitution of the Republic of Singapore to consist of the President of Singapore, President and the Executive. Executive authority of Singapore is vested in the President but exercised on the advice of the Cabinet led by the Prime Minister. The President, acting as the Head of State, may only act in their discretion in appointing the Prime Minister, acting as the Head of Government; as well as withholding consent for the dissolution of Parliament; along with performing key checks on the Government in addition to the ceremonial duties of the Head of State inherited from the Westminster system. The Cabinet, consisting of the Prime Minister and ministers appointed by the President on the Prime Minister's advice, is responsible for heading the Executive through ministries and other Statutory boards of the Singapore Government, statutory boards. At the end of the term or at any time during the term, once the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment
Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broader viewpoint, an investment can be defined as "to tailor the pattern of expenditure and receipt of resources to optimise the desirable patterns of these flows". When expenditures and receipts are defined in terms of money, then the net monetary receipt in a time period is termed cash flow, while money received in a series of several time periods is termed cash flow stream. In finance, the purpose of investing is to generate a Return (finance), return on the invested asset. The return may consist of a capital gain (profit) or loss, realised if the investment is sold, unrealised capital appreciation (or depreciation) if yet unsold. It may also consist of periodic income such as dividends, interest, or rental income. The return may also inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Deposits
A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the United States. It is known as a term deposit or time deposit in Canada, Australia, New Zealand, and as a bond in the United Kingdom. A fixed deposit means that the money cannot be withdrawn before maturity unlike a recurring deposit or a demand deposit. Due to this limitation, some banks offer additional services to FD holders such as loans against FD certificates at competitive interest rates. Banks may offer lesser interest rates under uncertain economic conditions. The tenure of an FD can vary from 7, 15 or 45 days to 1.5 years and can be as high as 10 years. In India these investments can be safer than Post Office Schemes as they a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Trust
A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors' money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on the trust, it may invest in securities such as shares, bonds, gilts, and also properties, mortgage and cash equivalents. Those investing in the trust own "units", whose price is called the "net asset value" (NAV). The number of these units is not fixed and when more is invested in a unit trust (by investors opening accounts or adding to their accounts), more units are created. In addition to the UK, trusts are found in Fiji, Ireland, the Isle of Man, Guernsey, Jersey, New Zealand, Australia, Kenya, Uganda, Tanzania, Namibia, South Africa, Singapore, Malaysia and Zimbabwe. History The first unit trust was launched in the UK in 1931 by M&G under the inspiration of Ian Fairbairn. The rationale behind the launch was to emulate the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Housing
Public housing, also known as social housing, refers to Subsidized housing, subsidized or affordable housing provided in buildings that are usually owned and managed by local government, central government, nonprofit organizations or a combination thereof. The details, terminology, definitions of poverty, and other criteria for allocation may vary within different contexts, but the right to renting, rent such a home is generally rationed through some form of means-testing or through administrative measures of housing needs. One can regard social housing as a potential remedy for housing inequality. Within the OECD, social housing represents an average of 7% of national housing stock (2020), ranging from ~34% in the Netherlands to less than 1% in Colombia. In the United States, public housing developments are classified as housing projects that are owned by a housing authority or a low-income (project-based voucher) property. PBV are a component of a public housing agenc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing And Development Board
The Housing & Development Board (HDB; often referred to as the Housing Board; ; ; ), is a Statutory boards of the Singapore Government, statutory board under the Ministry of National Development (Singapore), Ministry of National Development responsible for the public housing in Singapore. Established in 1960 as a result of efforts in the late 1950s to set up an authority to take over the Singapore Improvement Trust's (SIT) public housing responsibilities, the HDB focused on the construction of emergency housing and the resettlement of kampong residents into public housing in the first few years of its existence. This focus shifted from the late 1960s, with the HDB building flats with improved fittings and offering them for sale. From the 1970s, it initiated efforts to improve community cohesion in its estates and solicit resident feedback. In the 1990s and 2000s, the HDB introduced upgrading and redevelopment schemes for mature estates, as well as new types of housing inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gan Kim Yong
Gan Kim Yong (born 9 February 1959) is a Singaporean politician who has been serving as Deputy Prime Minister of Singapore since 2024 and Minister for Trade and Industry since 2021. A member of the governing People's Action Party (PAP), he has been the Member of Parliament (MP) representing the Punggol North division of Punggol Group Representation Constituency (GRC) since 2025, and previously the Chua Chu Kang division of Chua Chu Kang GRC from 2011 to 2025. Prior to entering politics, Gan worked in the Ministry of Trade and Industry (MTI) and Ministry of Home Affairs (MHA). He joined NatSteel in 1989 and became the chief executive officer (CEO) and president of NatSteel in 2005. Gan made his political debut in the 2001 general election as part of a five-member PAP team contesting in Holland–Bukit Panjang GRC and won by an uncontested walkover. Gan previously served as Minister for Manpower between 2008 and 2011, Minister for Health between 2011 and 2021, Chai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catastrophic Illness
A catastrophic illness is a severe illness requiring prolonged hospitalization or recovery. Examples include cancer, heart attack or stroke. These illnesses usually involve high costs for patients and health insurance companies and may incapacitate the person from working, creating a financial hardship. They are the type intended to be covered by high-deductible health plans. Research indicates that the unusual economic environment of the delivery of catastrophic illness care encourages the use of innovative therapies. Medicare (United States), Medicare contains a benefit for catastrophic illness. References Human diseases and disorders Intensive care medicine {{disease-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stop-loss Insurance
Stop-loss insurance is insurance that protects insurers against large claims. Stop-loss policies take effect after a certain threshold has been exceeded in claims. Overview Insurance companies themselves, as well as self-insuring employers, purchase stop-loss coverage for a premium to protect themselves. In the case of a participant reaching more than the specific (or "individual") stop-loss deductible ($300,000, for example), the insurer will reimburse the insured (the company, not the participant) for the remainder of the claim to be paid over that deductible amount. There is also typically an aggregate-claims deductible, which is applied to all paid claims combined. For all claims at or below their specific stop-loss level, if the sum of these are more than the aggregate stop loss level, then the insurer will reimburse the insured for the difference. Insurance companies and health and benefits consultants typically use mathematical models analyzing historical claims data to pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Annuity
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. The majority of life annuities are insurance products sold or issued by life insurance companies. However, substantial case law indicates that annuity products are not necessarily insurance products. Annuities can be purchased to provide an income during retirement, or originate from a ''structured settlement'' of a personal injury lawsuit. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity. The payment stream from the issuer to the annuitant has an unknown duration based principally upon the date of death of the annuitant. At this point the contract will terminate and the remainder of the fund accumulated is forfeited unless there are other annuitants or beneficiaries in the contract. Thus a life annuity is a for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Housing In Singapore
Public housing in Singapore is subsidised, built, and managed by the government of Singapore. Starting in the 1930s, the country's first public housing was built by the Singapore Improvement Trust (SIT) in a similar fashion to contemporaneous Public housing in the United Kingdom, British public housing projects, and housing for the resettlement of squatting, squatters was built from the late 1950s. In the 1960s under the SIT's successor, the Housing and Development Board (HDB), public housing consisting of small units with basic amenities was constructed as quickly and cheaply as possible at high densities and used for resettlement schemes. From the late 1960s, housing programmes focused more on quality, public housing was built in new towns, and a scheme allowing residents to lease their flats was introduced. Throughout the 1970s and 1980s, more public housing options were provided for the middle class and efforts to increase community cohesion within housing estates were mad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
