Singapore has taken steps to minimise such The Central Provident Fund (CPF) system encourages self-reliance by making each individual responsible for his or her own retirement needs, rather than burdening future generations with ever-increasing taxes. The Government steps in to meaningfully supplement the retirement needs of lower-income Singaporeans.
While strong family ties and support continue to be a critical aspect of ensuring that older Singaporeans can retire comfortably, these policies take some of the strain of caring for the old off the shoulders of the young, helping to strengthen family and community bonds.