Singapore CPF retains top pension grade with higher score in 2026
The adequacy measure improved, while sustainability edged down. The global assessment covered 55 retirement systems.
A score of 82, compared with 80.8 previously, kept Singapore’s Central Provident Fund (CPF) in the A category of the 2026 Marsh CFA Institute Global Pension Index. This marks its second successive year at the highest grade, after receiving B+ in 2024.
The improvement came alongside a higher score for retirement income adequacy: Singapore recorded 82.8 in 2026, against 79.4 in 2025. The measure of long-term sustainability eased to 75.3 from 75.5, while integrity, which assesses public confidence in the system, stayed at 90.4.
For 2026, the adequacy assessment examined income available both at retirement and at age 80, recognising that savings must support longer lives. The index expanded its coverage to 55 systems from 52 in 2025, representing 66 per cent of the global population.
The Netherlands ranked highest with 85.8. Australia joined the A category in 2026, alongside Singapore, Denmark, Iceland and Israel. CPF had been the first Asian pension system awarded that grade.
Marsh said population ageing was putting government finances under growing pressure and would lead many countries to reconsider how pensions are funded. It distinguished CPF as fully financed by employee and employer contributions. Those funds are invested mainly in special Singapore Government Securities.
