Interpreting the Advantages of Singapore's Settlement Policy

I would like to introduce the advantages of Singapore's settlement policy to you, hoping to help students studying abroad. Want to know more about the wonderful content of studying abroad, and give you detailed answers. 1. Benefits of settling in Singapore (buying a house)

Singapore's housing policy is "home ownership", and housing is divided into government-subsidized apartments and market-priced apartments or houses with land.

For married Singaporean citizens, they can buy apartments subsidized by the Singapore government (the monthly income of husband and wife does not exceed S $8,000), and they will only get subsidies when they buy a house for the first time. To buy a new apartment, you need to apply to the Housing Development Bureau and wait in line for the house you choose to be completed. Permanent residents can't buy new houses, but they can buy second-hand apartments resold in the market. If you want to buy a new house, you can buy an apartment or a house.

Permanent residents and senior foreign employees (EP, P 1, P2 work visa holders) can directly apply to the Housing Development Bureau for renting government units at a price lower than the market rent.

There is basically no special time limit for renting government units. In experience, some people have rented it for ten or eight years, but this is the same house. Once the rental contract is interrupted, they can no longer rent from the government.

If you buy a government house (apartment), you must sell it after five years to prevent the house from being resold.

For high-income people, it is not allowed to buy a small government apartment. If the total income of husband and wife is 8,000 Singapore dollars per month, then they can only buy a large apartment or a house resold in the market.

There are special government subsidies for buying government apartments adjacent to parents.

Second, the welfare benefits of settling in Singapore (I support the elderly)

Singapore's pension mainly depends on the government's provident fund system.

The essence of the provident fund system is to deposit 20% of my salary into the provident fund account, which is my account, but I can't use it at will. It is equivalent to everyone being forced to save.

In addition, your employer will deposit 13% of your salary into your provident fund account. In this way, the actual provident fund account has a deposit equivalent to 33% of salary every month.

If the husband and wife graduate at the age of 25 and start working, they will retire after working for 35 years. Both people's provident fund accounts have roughly

5000*33%* 12 (month) *35 (year) =693000 Singapore dollars.

These expenses are carefully divided into three accounts.

1. Medical account number: 7%, used for medical expenses;

2. House purchase account: 6%, used to buy a house;

3. General account: 20%, used for education, etc.