SINGAPORE - Singapore should consider asking companies to contribute more to employees’ pensions as the nation’s economy improves, said Lim Swee Say, secretary-general of the National Trades Union Congress.Employers now pay as much as 14.5% of a worker's wage into a mandatory pension program called the Central Provident Fund, or CPF, while employees pay as much as a fifth of their salary. The government had reduced the employer's rate to 13% from 16% in 2003 to reduce the cost of doing business on the island, before increasing it to the current level in 2007. Full Story
