affects our latent variable. This is the case when the regressor, LE, is equated to zero. With this, there is no need for an increase of -20.40154 Singaporean dollars. Simply stated, when a Singaporean is not expected to live (LE = 0), then there is no needed requirement of an additional -20.40154 Singaporean dollars. Cohort differences in the CPF coverage are important. Table 2A (Appendix IV; p.34) clearly depicts that during 2012; 30% of the age bracket 56 above are actually covered by the – CPF as compared to 18% of the age bracket 31 40. However, this is not truly the case because – the active CPF members depicted in Table 2B (Appendix IV; p.34) clearly shows that only 18% of the age brackets 56 60 and 60 above are truly covered and are actively contributing against – – 26% of the age bracket 31 40. In connection to CPF savings shown in table 4 (Appendix IV; – p.36), 30.7% of the elderly has accumulated less than the ordinary wage ceiling of S$5,000 while 24.9% have none at all (See Appendix IV: Table 4; p.36). Because of low coverage rates among the elderly, this will result to low reliability on the CPF savings overtime. Fertility Rates and Mortality Rates Fertility and Mortality rates negatively affect our latent variable, which is the required sufficient amount of pensions (in constant LCU) that will cover the pensioners from financial insecurity. In the case of a Singaporean pensioner who invests in any of the 3 accounts, for every 1 increase in birth per woman and 1 increase in incidence of death, a -4.815733 and Singaporean dollar is not needed respectively (See Appendix III: Fig.2B, & Fig.2C; pp.32-33). The intercepts of Fertility Rates and Mortality Rates, on the other hand, both positively affect our latent variable. This is the case when the regressors, LOG(FR) and LOG(MR), are both equated to zero. With this, there is a need for an increase of 2.158468 and
affects our latent variable. This is the case when the regressor, LE, is equated to zero. With this, there is no need for an increase of -20.40154 Singaporean dollars. Simply stated, when a Singaporean is not expected to live (LE = 0), then there is no needed requirement of an additional -20.40154 Singaporean dollars. Cohort differences in the CPF coverage are important. Table 2A (Appendix IV; p.34) clearly depicts that during 2012; 30% of the age bracket 56 – above are actually covered by the CPF as compared to 18% of the age bracket 31 – 40. However, this is not truly the case because the active CPF members depicted in Table 2B (Appendix IV; p.34) clearly shows that only 18% of the age brackets 56 – 60 and 60 – above are truly covered and are actively contributing against 26% of the age bracket 31 – 40. In connection to CPF savings shown in table 4 (Appendix IV; p.36), 30.7% of the elderly has accumulated less than the ordinary wage ceiling of S$5,000 while 24.9% have none at all (See Appendix IV: Table 4; p.36). Because of low coverage rates among the elderly, this will result to low reliability on the CPF savings overtime. Fertility Rates and Mortality Rates Fertility and Mortality rates negatively affect our latent variable, which is the required sufficient amount of pensions (in constant LCU) that will cover the pensioners from financial insecurity. In the case of a Singaporean pensioner who invests in any of the 3 accounts, for every 1 increase in birth per woman and 1 increase in incidence of death, a -4.815733 and Singaporean dollar is not needed respectively (See Appendix III: Fig.2B, & Fig.2C; pp.32-33). The intercepts of Fertility Rates and Mortality Rates, on the other hand, both positively affect our latent variable. This is the case when the regressors, LOG(FR) and LOG(MR), are both equated to zero. With this, there is a need for an increase of 2.158468 and
Pension-Distribution-Crisis-KimCruz-and-Lao.docx