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1150 mr leong sze hian addressing the financial needs of asia’s changing demographics a maturing workforce

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  • 1. Addressing theFinancial Needs ofAsia’s ChangingDemographics : AMaturity Workforce
  • 2. Productivity is Rising(11, -3.4, -7.5% - 2011, 10, 09)Key Component of Companies’GrowthKey to Wage Increase1.2% Real Median Wage Increase PerAnnum (2001 – 2010)0% (0.3% Cumulative) 20th Percentile
  • 3. Happy Stress-Free Employee= Higher Productivity ?Concerns - Healthcare Affordability Retirement
  • 4. Accident at Work$147,000 BillWorkmen Injury Act - $25,000 CapPublic Hospital No Subsidy5% Chance ?
  • 5. Role of EmployersHelp to EducateFacilitate
  • 6. CPF Approved Medical PlansMediShieldB2, A Ward PlansAs Charged PlansDeductibles/Co-insurance
  • 7. Class C HospitalisationAverage Bill As MuchAs Double in 4 YearsNon-subsidised DrugsNon-subsidised Treatment
  • 8. Cafeteria BenefitsCivil ServiceCommon LawRetirement PlanningFinancial Planning
  • 9. CEO CasePortable Insurance
  • 10. Credit Counseling S’pore -21%Medisave top-ups750,000 No Insurance ?How many O/Less Than$1,000 Medisave ?
  • 11. Ward Down-grading - 1% Success?Medifund Success Rate - 99% ?Subsidised Ward Availability
  • 12. Retirement36% - Highest ContributionLow Income Replacement(Mercer Pensions Study, etc)Everyone Millionaire ?CPF $540 Monthly 21 - 655% = $1m
  • 13. 60% Estimated Have $67,0002013 (CPF Life Study)Property Pledge20% CPF Withdrawal Phase-outMinimum Sum $131,000,Medisave Required Amount$27,500
  • 14. CPFISAfter 11 Years - 75% Did Not Beat2.5%Singapore Stocks - 35% Average LossGlobally Diversified Portfolio (40%Equity 40% Bonds, 20% Commodities)– 6% ?Temasek 17%, GIC 3.9% (Real US$)
  • 15. HDBHousing WithdrawalLimitsAge 55 Still payingMortgage - 25,000 ?
  • 16. Employees NeedTo KnowEmployers CanHelp