Research On The Pension Insurance System In Singapore Constructed By Central Provident Fund Act

The Republic of Singapore is one of the youngest countries in the world, and alsoone of the highest levels of population aging. In1953, Singapore had enacted" CentralProvident Fund Act" for the purpose of pension. In nearly sixty years of exploration,the pension insurance system of Singapore constructed by “Central Provident FundAct” had formed the characteristics of legislative protection, all-inclusive cover,independent regulatory agencies, individuals and businesses involved in. Constructedthe pension insurance system of Singapore include from the management system torun mode, which is full of Singapore features. The pension insurance system ofSingapore constructed by Central Provident Fund Act lighter the pension burden onthe Singapore government，ensured the stability of economic and political, and at thesame time promoted the development of Singapore’s economy and society actively,finally became the strong propulsion for Singapore’s economic growth.Since1949, the founding of China, after decades of efforts to develop thepension insurance system, China had established its differential treatment cover,combined Social Planning and IndividualAccounts for fund-raising, and othermeasures. And in2010the "Social Security Act" was promulgated in China. However,because of the system’s own shortcomings and the emergence of new areas ofpopulation aging insurance issues and challenges, the pension insurance system ofChina legislation reform remains a long way to go.This paper is divided into three chapters: the first chapter is about theinvestigation of general background and development process by Central ProvidentFund Act which constructed the pension insurance system of Singapore. Analysis andfind the reason why&how the pension insurance system of Singapore become thisstatus quo from horizontal and vertical side. Based on the first chapter, the secondchapter was about to analysis the Central Provident Fund Act on its static anddynamic side. At the same time summarize the social and economic effects of therunning by the pension insurance system of Singapore. The third chapter was about toevaluate the pension insurance system of Singapore which constructed by Central Provident Fund Act, summed up its experience, and finally suggested the legislativereform way of the pension insurance system of China.