SRS pentetration in Singapore

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Economics

Description

You are a managing partner with one of the major consulting firm and you see a possible business opportunity to consult for the various government bodies to prepare Singaporeans better for their retirement. You get together a team of specialist within the firm to work on possible pitches. One possible angle is to encourage SRS penetration rate both in terms of the width (getting more SRS accounts open) and depth (getting the maximum yearly contribution from each SRS account).

Analyse and appraise five (5) ways to increase the width and depth of SRS penetration in Singapore.(Note that a regurgitation of SRS facts will not be given any credit)


You need to provide 10 ways in total. 5 for width and 5 for depth of SRS penetration.


You need to be firmilar with SRS in Singapore.

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Explanation & Answer

Attached.

Running Head: SRS PENETRATION

1

SRS Penetration
Institution Affiliation
Date:

SRS PENETRATION

2

Saving for retirement is one of the major handles in the life of every person whether in
the private or public sector. Everyone who is employed will always need to have a life plan
which enables them to save for retirement. This is the same case for the people who are in the
private sector since they will also reach the old age which they are unable to work normally.
These people need to develop a scheme that will enable them to save for the future and become
self-reliant. One of such schemes is the development of supplementary retirement scheme (SRS).
This is a scheme aimed at addressing the financial needs of the population approaching their
greying years. The Singapore government needs to allow the development of such a scheme in
width and in depth as they encourage people to save for their old age.
Despite being a voluntary scheme, it is po...


Anonymous
I was having a hard time with this subject, and this was a great help.

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