Singapore has a universal health care system where government ensures affordability, largely through compulsory savings and price controls, while the private sector provides most care.
The foundation of the settlements was to be funded by the compulsory savings of the individual SS men.
That recommendation would replace part of Social Security with compulsory private savings that would be invested in stocks and bonds.
And because there is nothing to buy, it makes for compulsory savings.
Seven of the 13 panel members recommended compulsory private savings through individual investment accounts.
Seven of the 13 members favored compulsory private savings through individual accounts, but they disagreed over whether workers should have limited or complete control over them.
Fifteen percent must go into the state's Victim Restitution Fund and 40 percent is compulsory savings available to the inmate on release.
Singapore's system uses a combination of compulsory savings from payroll deductions to provide subsidies within a nationalized health insurance plan known as Medisave.
This Act seeks to ensure the financial security of the employees in an establishment by providing for a system of compulsory savings.
He opposed "compulsory saving," which he preferred to call "special taxation," and, like modern supply-side economists, stressed the detrimental effects of high taxes on economic activity.