CPF Trends &
Highlights
Providing Updates on Statistical Matters To You …
Membership in Brief
From 1975 to 2005, CPF membership increased by
Table 1: Number of CPF Members as at end of the year
1,945 thousand members reaching 3,049 thousand
Year
Number (‘000)
Average Annual
Growth Rate (%)
in 2005. The growth rate between the 1995 - 2005
1975
1,104
na
period was 1.3%, this was slower than the
1985
1,892
5.5
corresponding growth rate during the 1975 - 1985
1995
2,684
3.6
2005
3,049
1.3
and 1985 - 1995 periods. (See Table 1)
Note: Figures include self-employed. The average annual growth
rate is the compounded growth rate over the corresponding 10 year
period. CPF member refers to a person with a positive balance in
any of his CPF accounts.
The growth rate of CPF members has trended downwards over the years from 1976 to 2005. It is
observed that sudden surges in the growth rate of CPF members occurred in the following years of
1981, 1993 and 1995. This can be attributed to the top-up schemes introduced in 1993 and 1995.
(See Chart 1)
Chart 1: Growth Rate of CPF Members (1976-2005)
10%
1981,
8.6%
9%
8%
Growth Rate (%)
1978, 1979,
1976, 7.2% 7.1%
7% 6.7%
6%
1977,
6.2%
5%
1980,
5.8%
1982,
4.5%
4%
1984,
4.1%
1983,
3.1%
3%
2%
1987,
1989, 1990,
3.3%
3.1% 3.2%
1986, 1988,
2.6% 2.8%
1985,
2.2%
1992,
3.0%
1991,
2.8%
1%
0%
1976
1978
1995,
6.4%
1993,
5.7%
1980
1982
1984
1986
1988
1990 1992
Year
1994,
2000,
2.7% 1996,
1.8% 2001, 2002, 2004,
2.2%
1.5%
1997,
1.4% 1.3%
1.5%
1999,
1998,
2005,
0.9% 2003,
0.8%
1.0%
0.5%
1994
1996
1998
2000
2002
2004
Note: Figures include self-employed. CPF member refers to a person with a positive balance in any of his
CPF accounts.
l1
Trends and Insights
The age structure of CPF members has become
older in the last 2 decades. This can be inferred
from Chart 2 where the shape of the population
pyramid has evolved to a regressive one. The
proportion of members aged 55 years and above
displayed a four-fold jump from 5.5% in 1985 to
22.9% in 2005. In sharp contrast, there was a fall in
Changing Age Structure
the proportion of those aged below 24 from 25.1%
The growth in CPF membership over the last 2
67.1%.
decades
was
accompanied
by
some
in 1985 to 9.2% in 2005. The proportion of those
aged 25 to 54 dropped slightly from 68.2% to
rather
discernible changes in the age structure (see Chart
2).
consistent with larger demographic changes at work
such as the ageing of the overall Singapore
Chart 2: Population Pyramid of CPF Members
2005
60 and above
4.1%
3.8%
5.7%
pressure on a country’s health care and social
4.9%
7.1%
45 - 49
3.3%
1.3%
Under 20
0.6%
Unspecified
8%
6%
financially secure in their old age.
4.1%
3.2%
20 - 24
coverage to help members ensure that they are
5.0%
4.0%
25 - 29
retirement and to improve the effectiveness of CPF
5.6%
4.9%
30 - 34
10%
to enhance the adequacy of CPF savings for
6.4%
5.8%
35 - 39
security systems. Thus, there is an increasing need
6.1%
7.5%
40 - 44
in life expectancy. An aging population puts greater
7.7%
50 - 54
Male (%)
population, decline in fertility rates and the increase
7.3%
55 - 59
A g e gro u ps
The aging of the CPF membership base is generally
4%
2%
1.4%
0.1%
0%
2%
4%
6%
8%
10%
CPF members (%)
Female (%)
1985
60 and above
2.2%
0.6%
55 - 59
2.0%
0.7%
2.9%
A g e g ro u p s
50 - 54
45 - 49
3.9%
40 - 44
4.2%
1.5%
2.4%
2.8%
7.4%
35 - 39
9.6%
30 - 34
7.7%
25 - 29 11.0%
9.3%
10.1%
20 - 24
8.7%
3.0%
Under 20
3.3%
0.9%
Unspecified
About Population Pyramids
5.5%
0.3%
14% 12% 10% 8% 6% 4% 2% 0% 2% 4% 6% 8% 10% 12% 14%
Male (%)
Female (%)
CPF members (%)
Note: Exclude those with unspecified gender. Percentages
may not add up to 100% due to rounding.
Population pyramids give a pictorial representation of the age
and sex composition of a population at a particular point in time.
Population pyramids give a quick graphical summary of changing
demographics. The shape of a population pyramid can provide
interesting and significant insights to a population’s past and
future:
Stationary pyramid – A pyramid showing an unchanging
pattern of fertility and mortality.
Progressive pyramid – A pyramid with an increasing birth
rate and a high death rate.
Regressive pyramid – A pyramid with a declining birth rate
and a low mortality rate.
(Source: Dem-Lab, Teaching Demography Through Computers,
2l
1992 Prentice Hall and Wikipedia)