"Despite being transformed from an undeveloped to an affluent society in a relatively short period of 30 years, Singapore continues to practice the provident-fund strategy for providing social security, a strategy that is only used by the Third World countries (Dixon, 1986; Asher, 1991; Ramesh, 1992)...

CPF does not protect those with little or no income who are in the greatest need for social protection (Ramesh, 1992)"

--- The Poor in Singapore: Issues and Options, Lee, William KM, in Journal of Contemporary Asia