The evidence suggests that East Asian countries have actively pursued the high saving, high investment paradigm. Singapore is an interesting example because it has institutionalized this approach to aging through its Central Provident Fund in which Singaporeans are required to save a high fraction of their earnings through mandatory contributions. The fund provides pension benefits and has led to high rates of saving, investment, and economic growth. This is quite different from the public pension systems in Japan, Europe, Latin America and the US that provide for retirees out of current taxes and therefore have no positive growth effects.