Mercer Investment Consulting is said by well-placed market players in Singapore to have won a mandate issued by the Central Provident Fund to design a private pension scheme.
Mercer officials refused to comment.
Last autumn, the CPF invited consultants to bid to create concrete proposals to realize the idea of a low-cost private pension plan under the CPF investment scheme's framework. This follows from recommendations by a high-powered Economic Review Committee report that set out goals to boost Singapore's competitiveness as a centre for wealth management and investment services.
Following the ERC's recommendations, which the government accepted, several consultants said any plan would probably involve CPF seeking a...