Income Security Policy Department

The Income Security Policy Department (ISPD) was set up in February 2004 to help achieve MOM's strategic outcome of Income Security and Lifelong Employability (ISLE).

Mission

To enhance the income security of Singaporeans.

Vision

A world class income security system where Singaporeans are financially self-reliant.

Background

Singapore faces an aging population and the challenge of economic restructuring in a rapidly changing and competitive global landscape. There is a need to ensure that Singaporeans are taken care of in their retirement, and to help vulnerable workers cope with economic restructuring.

Our Work

ISPD works closely with the Central Provident Fund (CPF) Board, as well as other partners in the social and economic sectors, including Ministry Of Finance (MOF), Ministry of Health (MOH), Ministry of Community Devlopment Youth and Sports (MCYS) and Ministry of National Development (MND), to explore new ways to improve Singaporeans' income security. Our scope of work includes enhancing the CPF system, studying instruments beyond the CPF and planning ways to help vulnerable groups such as older Singaporeans and low wage workers.