Singapore's official retirement age is gradually being raised from the current age of 62 to 65 by 2030. Here are two alternative scenarios to consider when planning for retirement. The official retirement age in Singapore is currently 62. But PM Lee Hsien Loong unveiled plans during the 2019 National Day Rally to gradually raise the current official retirement age of 62 to 65 by 2030. It also plans to raise the "re-employment age" - the age at which employers must offer re-employment to eligible employees - from 67 to 70 by the same time frame. Here's what that looks like: 2019 2022 By 2030 Retirement age 62 63 65 Re-employment age 67 68 70 raise current official retirement age of 62 to 65 by 2030 re-employment age will be raise from 67 to 70 by the same time frame. What's the difference between retirement age and re-employment age? Currently, the minimum retirement age is 62. What that means is that it's against the law for your company to ask you to retire before … [Read more...] about What’s the ‘correct’ retirement age in Singapore?
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Travel insurance in Singapore is super-competitive when it comes to pricing. That’s great for us consumers, but it also means that you shouldn’t always choose the cheapest travel insurance plan you can find. You might end up with a dud if you make your decision based on price alone. BEST TRAVEL INSURANCE IN SINGAPORE 2019 So… how like that? Unfortunately there’s no way around it – you do have to do the research to find out what each travel insurance plan covers and what it doesn’t. Here’s a quick look at which insurers you should go to for your needs: Best for Travel insurance provider Cheapest travel insurance Etiqa, FWD, Aviva Highest medical coverage Amex, Allianz, Aviva, FWD Adventurous activities Etiqa Basic, ERGO, FWD Expensive trips Amex, AIG, FWD First, Etiqa, Aviva Pre-existing medical conditions NTUC Emergency assistance service AXA, AIG, Sompo (Japan) Want to know more about which specific … [Read more...] about Best travel insurance Singapore 2019
When Neil Armstrong died in 2012, it was officially put down to complications arising from heart surgery. But seven years on, more murky circumstances have come to light. The New York Times said Tuesday it had received by mail 93 pages of documents revealing a dispute between the family of the most famous astronaut in history and the small Ohio hospital where he was treated and operated on. The Cincinnati Enquirer also received the documents, which were sent anonymously. According to the newspapers, the family had threatened to publicly accuse the hospital of medical malpractice. They ultimately reached a secret settlement that avoided a scandal, with the hospital paying $6 million, of which $5 million went to Armstrong's two sons, Rick and Mark, in exchange for their silence. In a July 2014 email, Mark's wife Wendy, a lawyer, threatened to go public during the 45th anniversary of the Apollo 11 mission which saw Armstrong become the first person to set foot on the … [Read more...] about The death of Neil Armstrong and a $6 million secret
(The Philippine Star) - July 28, 2019 - 12:00am MANILA, Philippines — In line with our vision for higher quality of life for all Filipinos, the Bangko Sentral ng Pilipinas (BSP) has embraced financial inclusion as a worthy goal, long before it was mainstreamed as a global development agenda. We recognize that bringing financial services to all, especially those that are underserved and unserved, opens up opportunities for poor families in the country to improve their household welfare, spur enterprise activity and participate meaningfully in economic activities. Thus, we continue to relentlessly pursue policy and supervisory reforms which systematically accelerate the level of financial inclusion in the Philippines. State of financial inclusion in the Philippines The Philippine economy has been growing consistently and in recent years, at levels regarded as one of the fastest in Asia. In fact, our GDP growth rate of 5.6 percent in the first quarter of … [Read more...] about Digital banking policies toward greater financial inclusion
The SCB Easy mobile app features e-KYC, enabling customers to open accounts using facial recognition. Mobile banking usage has soared for every age group after digital transaction fees were scrapped a few years ago, but digital authentication, also known as electronic know-your-customer (e-KYC), is expected to open a new chapter in the online banking boom.Financial service providers that go digital face a dilemma. They are obliged to verify the identity of customers to comply with regulatory requirements, but they also strive to deliver a customer-friendly experience to keep existing customers and acquire new ones. An e-KYC process that is not burdensome solves both issues, verifying customers digitally so they don't have to waste time at branches. The technology paves the way for more banking services on mobile and electronic devices. With online verification, consumers, particularly those who are unbanked, can open new accounts, apply for loans online, take out new life … [Read more...] about E-KYC opens new chapter in banking