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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, education 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 within in Asia and 7th worldwide in 2020. 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. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Singapore
The Government of Singapore is defined by the Constitution of Singapore to mean the executive branch of the state, which is made up of the president and the Cabinet. Although the president acts in their personal discretion in the exercise of certain functions as a check on the Cabinet and the Parliament, their role is largely ceremonial. It is the Cabinet, composed of the prime minister and other ministers appointed on their advice by the president, that have the general direction and control of the government. The Cabinet is formed by the political party that gains a simple majority in each general election. A statutory board is an autonomous agency of the Government that is established by an Act of Parliament and overseen by a government ministry. Unlike ministries and government departments that are subdivisions of ministries, statutory boards are not staffed by civil servants and have greater independence and flexibility in their operations. There are five Community ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medisave
Medisave is a national medical savings account system in Singapore, introduced in April 1984. The contribution is mandatory and taken from the monthly Central Provident Fund (CPF) contribution. The system allows Singaporeans to put aside part of their income into a Medisave account to meet future personal or immediate family's hospitalization, day surgery and for certain outpatient expenses. Under this system, Singaporean employees contributes depending on age group, 6.5–9.0% of their monthly salaries to a personal Medisave account. The savings can be withdrawn to pay the hospital bills of the account holder and their immediate family members. See also * Healthcare in Singapore Healthcare in Singapore is under the purview of the Ministry of Health of the Government of Singapore. It mainly consists of a government-run publicly funded universal healthcare system as well as a significant private healthcare sector. Fin ... References External links MediSave {{Singapore-s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shares
In financial markets, a share is a unit of equity ownership in the capital stock of a corporation, and can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Share capital refers to all of the shares of an enterprise. The owner of shares in a company is a shareholder (or stockholder) of the corporation. A share is an indivisible unit of capital, expressing the ownership relationship between the company and the shareholder. The denominated value of a share is its face value, and the total of the face value of issued shares represent the capital of a company, which may not reflect the market value of those shares. The income received from the ownership of shares is a dividend. There are different types of shares such as equity shares, preference shares, deferred shares, redeemable shares, bonus shares, right shares, and employee stock option plan shares. Valuation Shares are valued according to the various principles in different markets, bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Bond
A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity date. For example, a bondholder invests $20,000, called face value or principal, into a 10-year government bond with a 10% annual coupon; the government would pay the bondholder 10% interest each year and repay the $20,000 original face value at the date of maturity (i.e. after 10 years). Government bonds can be denominated in a foreign currency or the government's domestic currency. Countries with less stable economies tend to denominate their bonds in the currency of a country with a more stable economy (i.e. a hard currency). When governments with less stable economies issue bonds, there is a possibility they will be unable to repay bondholders, resulting in a default. All bonds carry a default risk. International credit rating agencies p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond (finance)
In finance, a bond is a type of security under which the issuer ( debtor) owes the holder ( creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an equity stake in a company (i.e. they are owners), whereas bondholders have a creditor stake in a company (i.e. they are lenders). As creditors, bondholders have priority over stockholders. This means they will be repaid in advance of stockholders, but will rank behind s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Deposits
A fixed deposit (FD) is a financial instrument provided by banks or NBFCs 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. It is known as a term deposit or time deposit in Canada, Australia, New Zealand, fixed deposit in India and the United States, and as a bond in the United Kingdom and for a fixed deposit is that the money cannot be withdrawn from the FD as compared to a recurring deposit or a demand deposit before maturity. Some banks may offer additional services to FD holders such as loans against FD certificates at competitive interest rates. It's important to note that banks may offer lesser interest rates under uncertain economic conditions. The interest rate varies between 4 and 7.50 percent. 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. These investments are safer than Post Office Schemes as the ... [...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, 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 comparative robu ... [...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 hedge 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Housing
Public housing is a form of housing tenure in which the property is usually owned by a government authority, either central or local. Although the common goal of public housing is to provide affordable housing, the details, terminology, definitions of poverty, and other criteria for allocation vary within different contexts. Public housing developments are classified as housing projects that are owned by a city's Housing authority or Federally subsidized public housing operated through HUD. Social housing is any rental housing that may be owned and managed by the state, by non-profit organizations, or by a combination of the two, usually with the aim of providing affordable housing. Social housing is generally rationed by a government through some form of means-testing or through administrative measures of housing need. One can regard social housing as a potential remedy for housing inequality. Private housing is a form of housing tenure in which the property is owned by an i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing And Development Board
The Housing & Development Board (HDB) (; ms, Lembaga Perumahan dan Pembangunan; ta, வீடமைப்பு வளர்ச்சிக் கழகம்) or often referred to as the Housing Board, is a statutory board under the Ministry of National Development responsible for Singapore's public housing. Founded 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gan Kim Yong
Gan Kim Yong ( zh, s=颜金勇, p=Yán Jīnyǒng; born 9 February 1959) is a Singaporean politician who has been serving as Minister for Trade and Industry since 2021. A member of the governing People's Action Party, he has been the Member of Parliament (MP) representing the Chua Chu Kang division of Chua Chu Kang GRC since 2011. Gan had previously served as Minister for Manpower between 2008 and 2011, Minister for Health between 2011 and 2021 and Chairman of the People's Action Party between 2018 and 2022. 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 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. Education Gan was educated at Catholic High School and National Junior College b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catastrophic Illness
A catastrophic illness is a severe illness requiring prolonged hospitalization or recovery. Examples would include cancer, leukemia, heart attack or stroke. These illnesses usually involve high costs for hospitals, doctors and medicines and may incapacitate the person from working, creating a financial hardship. They are the type intended to be covered by high-deductible health plan In the United States, a high-deductible health plan (HDHP) is a health insurance plan with lower premiums and higher deductibles than a traditional health plan. It is intended to incentivize consumer-driven healthcare. Being covered by an HDHP ...s. Research indicates that the unusual economic environment of the delivery of catastrophic illness care encourages the use of innovative therapies. 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] |
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