§ Mr. DoverTo ask the Secretary of State for Social Security if he will introduce a central provident fund following the model of Singapore in the United Kingdom; and if he will make a statement. [14897]
§ Mr. HealdWe have no such plans.
655WThe International Monetary Fund recently reported that the average annual return on the state-run Singapore scheme since 1980 has been only 2 per cent. more than inflation. This contrasts with British pension funds which have yielded almost 10 per cent. more than inflation, and now stands at almost £600 billion.