1. A Publication By Manulife Singapore Marketing – Issue 1, 2013 Tuesday, 29 January 2013
- The minimum cash down payment for a second or
subsequent housing loan to increase from 10 percent
to 25 percent.
• Singapore has dodged a recession after the - It also introduced a Seller’s Stamp Duty on industrial
economy managed to grow 1.8 percent in the properties for the first time.
fourth quarter compared with the third quarter, - The Mortgage Servicing Ratio for HDB housing loans
surprising many economists who were expecting a granted by financial institutions and HDB to cap at 30
contraction. For the GDP growth in 2013, the percent and 40 percent respectively of a borrower’s
median forecast by economists was 3.9 percent gross monthly income.
and headline inflation was 3.2 percent. - PRs are not allowed to sublet their entire flat and must
sell their flat within six months of purchasing a private
• Singapore attracted a record $16 billion of residential property in Singapore.
investments in 2012, 17 percent up on 2011. These
investments should eventually add $20.3 billion in • Experts predict mortgage loans could drop up to 20
economic value a year to the economy and create percent and a large number of property hunters,
18,600 skilled jobs. especially the PRs and foreigners will shift towards
renting. Units with a monthly rent of $6,000 or below
will be more active.
• Inflation was high in the last few years but the real
household incomes of Singaporeans and permanent
residents still managed to increase, according to the • More women are being stricken with heart problems
findings of the Singapore Public Sector Outcomes and their condition is often starkly different from men,
Review, released by the Ministry of Finance. according to medical centres. Not only are they much
older when the disease strikes, but many display
• Men in Singapore have the second highest healthy vague symptoms, like breathlessness.
life expectancy in the world and women the fourth
highest. What is happening to the current • Scientists here have found that removing a specific
generation of Singaporeans reflects a worldwide molecule from the cancer cells could be the key to
trend of people living longer, but with an increase in defeating bone marrow cancer. About 80 people in
"unhealthy" years outpacing additional healthy years. Singapore are diagnosed with an incurable form of
bone marrow cancer each year and they usually die
• A survey revealed that Singaporeans are among the within four years.
best prepared for future health expenses among five • Pharmaceutical giants are racing to develop single
countries in Asia. 74 percent of working adults here drugs to fight several cancers. For the first time ever,
are prepared for post-retirement health expenditure, three companies are poised to test whether new
higher than Hong Kong’s 60 percent. South Koreans drugs can work against a wide range of cancers
were the least prepared with only 31 percent. independently of where they originated. Many
scientists see this as the beginning of a new genetic
• The Government has unveiled a $2 billion package age in cancer research.
to reverse low birth rate by encouraging citizens to
get married and have babies. The enhanced • 1 in 9 people with diabetes saw his/her sugar blood
package includes a bigger baby bonus cash gift (up levels dip back to normal or prediabetic levels after a
by $2,000) of $6,000 for the first two births and year on an intensive diet and exercise programme, a
$8,000 for the next two births. All newborns also get new study has found.
a $3,000 Medisave grant. MediShield will be
extended to cover congenital and neonatal • Eating whole grains ranging from oatmeal to popcorn,
conditions effective from March 2013. from brown rice to whole wheat, is associated with
decreased risk of prediabetes, the elevation of blood
• The Government has announced new property sugar which can precede diabetes in adults,
cooling measures which took effect on 12 January according to a new study.
2013.
- Singaporeans have to pay an additional buyer
Disclaimer: This publication is intended for general information.
stamp duty (ABSD) of 7 percent for their second The views expressed do not have regard to specific investment
property while permanent residents (PRs) to pay 5 objectives, financial situations or your particular needs. Manulife
percent on their first property. shall not be liable for any action taken based on the views
1 expressed and information provided in this publication.

2. h
onwards for Saver Premium and 11t year onwards for
Regular Premium.
- Non-lapse guarantees in the first 10 years as long as
no withdrawals from regular premiums units and
• The Financial Advisory Industry Review (Fair) panel
regular premiums are paid on time.
has announced recommendations including:
- Option to reduce insured amount to a minimum of 5
- A direct channel for retail customers to buy basic
times of regular premium when one no longer has any
. insurance products straight from the insurer. dependants.
- A website for consumers to compare products.
- 20 percent cash reward to the customers on first 3
- Raising educational requirements for financial
months’ premiums with purchase of the RP-ILP plan.
advisers and more stringent base capital and
compliance requirements for firms.
- A suggested 40 percent cap on total commissions Manulink Flexi Plus provides cover for Death, TPD
payable to financial advisers in the first year of life and TI. The death benefit is sum insured and account
insurance products aims to increase the surrender value. The maximum sum insured is up to 100 times
value of policies in initial years. the annualized premium and premium allocation is 105
th
percent from 7 year onwards.
• Singapore's financial sector will get a thorough run-
through in the coming months by International
• Launch of AIA Retirement Saver (Jan)
Monetary Fund (IMF) experts who will study the
- Par-endowment with income payout options.
sector's stability and resilience. Singapore will be
- Premium payment term: Single payment, 5 or 10 years.
judged against international standards for the
- Income payouts from age 65 for 15 or 20 years.
banking, insurance and securities sectors.
- At age 65, receive a lump sum guaranteed retirement
reward equivalent to 24 times of the selected
• MAS have released a consultation paper on
guaranteed monthly retirement income.
proposed changes to credit card and unsecured
credit rules. The changes are aimed at improving
financial institutions’ lending and disclosure Our newly launched ManuRetire Secure is the first ILP
practices, empowering individuals to make better in Singapore that guarantees clients’ investment at 80
borrowing decisions, and helping individuals who are percent of the Fund’s highest historical Unit Price. The
at risk of credit problems. plan also offers several savings and payout options,
providing our clients with great flexibility for their
• The automatic entry age for the Dependents’ financial needs during retirement.
Protection Scheme will be raised from 16 to 21 from
1 January 2013 as more young people start work at Clients will be rewarded with up to $800 Takashimaya
a later age. However, members aged between 16 Gift Vouchers when they invest into MRS. Promotion
and 20 can choose to opt into the scheme once they ends 28 February 2013. Act on it now!
start making CPF contributions.
• CPF members will continue to enjoy a risk-free
GE Life
interest rate of 4 percent on their Special and
Medisave Accounts from 1 January 2013 to 31
• Live Great Prosperity Cash Bonus Promotion (Till Mar)
March 2013, and on their Retirement Account (RA)
- Customers are rewarded up to S$288 in cash with
for the whole year.
purchase of eligible endowment and protection plans.
Minimum qualifying annual premium for endowment
• From 1 January 2013, the Medisave Required
and protection plans are $3,600 and $250 respectively.
Amount (MRA) will be raised from the current $32K
to $38.5K so that members will have enough savings TM Asia Life
to meet their healthcare needs during old age.
• Launch of TM EarlyCare (Jan)
• In a move to boost the retirement income schemes, - Severity-based critical illness plan that provides a lump
the Housing Board is enhancing the Silver Housing sum benefit payment at the early stage of a dread
Bonus (SHB) and Lease Buyback scheme (LBS) to disease.
enable elderly Singaporeans to top-up less of their - Covers 91 medical conditions or procedures and 3
net sales proceeds and get more in cash when they stages of severity.
monetise their HDB flats. - Also available as rider to TM Legacy Plus.
AIA
• Launch of AIA Family First Assurance (Dec 2012)
- Whole life RP-ILP. Death Benefit is the insured
amount plus account value.
- Offers Saver Premium and Regular Premium.
th
Premium allocation at 105 percent from 5 year Gong Xi Fa Cai
2