Fund tax lure may not be enough

How long will S$86,000 ($49,640) last, the equivalent of 32 months' average salary in the Lion City? The Singapore parliament was recently told that's the median balance of the country's Central Provident Fund (CPF) for people aged 55. With the CPF account yielding an interest of just 2.5% at present - statutorily, the lowest that they can get - something has to be done. In the past two weeks, the Ministry of Finance has been releasing details of a new pension plan that encourages wor…