•Ministry of Trade and Industry Singapore’s advance GDP estimates indicated that Singapore's economy grew 1.3 per cent on a year-on-year basis in the third quarter of 2012, compared to a 2.3 per cent growth in the previous quarter. On a quarter-on-quarter basis, the economy contracted by 1.5 per cent, a reversal from a growth of 0.2 per cent in the second quarter. However, the economy remains on track to grow by 1.5 to 2.5 per cent in 2012. •Inflation rose sharply to 4.7 percent in September, reversing 2 months of falling levels. Car prices and housing costs were the main factors behind the pace of rising prices. MAS expect inflation to come in slightly above 4.5 percent this year and between 3.5-4.5 percent next year.

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• The Personal Data Protection Act to be passed in

January 2013 will govern how businesses collect, use, protect, correct and provide access to personal data. The Act also provides for a national Do Not Call (DNC) registry with which individuals can sign up to opt out of unsolicited calls and text messages. Organisations can be fined up to $10K per offence if they do not check with the registry. Organisations will have an 18-month and 12-month transition period for data protection and DNC registry.

• A new study by Ministry of Manpower concludes

that CPF provides comfortable post-retirement income for young Singaporeans. A male worker here who starts work now and draws a median monthly income of about $2.5K will achieve an income replacement ratio (IRR) of 71 percent through his CPF savings, while for a female worker, it is 63 percent with a median salary of about $2.1K. IRR is the ratio of retirement income to pre-retirement earnings.

• Singaporeans are still relatively worried about their

retirement despite having a higher level of savings and investments. A recent survey cites the lack of financial planning – 49 percent felt that they would have to work beyond the usual retirement age to fund their retirement. Between the ages of 35-54, 27 percent are taking an unstructured approach to financial planning and 15 percent of them have still not though about or do not know how much they need for their retirement.

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not though about or do not how much they need for

•According to OCBC Bank survey, most Singaporeans are picking new ‘5 Cs’ over material gain. These intangibles involve control, confidence, community, career and can-do attitude. About 65 percent rate the intangibles as more important while the remaining is sticking to material gain. Majority prefer to have a happy family, travel and remain healthy at a ripe age. Other ‘C’ choices which received the highest rating included care, compassion, children and character.

• Singapore has emerged as the top place for wealthy

expatriates to live and work in, a new survey by HSBC Bank. Expats in the survey ranked Singapore first out of 30 countries based on economic factors such as earning power, disposable income and ability to accumulate luxuries.

• About 50 percent of Singaporeans have been or are

affected by chronic knee pain. Of these, about half visited the doctor, and even then, waited 13 months before seeking treatment. Knee osteoarthritis is the most common form of arthritis.

• Eating tomatoes can dramatically reduce the risk

of having a stroke. The key factor appears to be the powerful antioxidant lycopene. People with the highest levels of lycopene in their blood have a 55 percent lower chance of suffering a stroke. It is evident that a diet high in fruits and vegetables is associated with a lower risk of stroke.

• A nationwide study on dementia and depression is being carried out to gauge the state of mental health among the elderly. The $4.4million study will measure how common these two illnesses are. It will also try to pinpoint gaps in the healthcare system and identify the kind of help families need. The 3-year study will also try to find out how caregivers are coping with their responsibilities.

• By 2050, Singapore may have as many as 1milion

diabetics as Singaporeans get older and fatter. Every 1 in 2 people, by age 70, will be diabetic – up from 1 in 3 today. Of the adult population, 15 percent will suffer from the disease, compared with 11.3 percent now. Obesity is likely to push up the risks of diabetes, which in turn raises the risk of stroke, heart and kidney failure, and blindness.

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A Publication by Manulife Singapore, Marketing – Issue 7, 2012 Wednesday, 7 Nov 2012

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• The insurance industry achieved 8% (S$562.3 million

in weighted premium) growth in Q3 2012 compared to same period last year. Annual weighted premium grew 18% which was able to offset the negative growth of 13% in single premium. Tied agents continue to be the main channel of distribution representing 44% while bancassurance accounted for 37% and Financial Advisers contributed 15%.

• MAS will broaden the scope of money laundering to

include funds from tax crimes from July 2013, as it seeks to tighten laws and fortify Singapore’s reputation as a trusted international financial centre. With the designation, financial institutions must apply the full suite of the Anti-Money Laundering/Countering and the Financing of Terrorism measures as contained in the relevant MAS notices, to prevent the laundering of proceeds from serious tax crimes.

• In view of the continuing uncertainty in the global economy and low interest rate environment, the Government has decided to further extend the 4% floor rate for interest earned on all monies in the Special, Medisave and Retirement Account (SMRA) for another year until 31 December 2013. SMRA monies which form the first S$60,000 of a member’s combined balances will therefore continue to earn a 5 percent interest rate.

• CPF savings of people who die without legal heirs and nominees can now be disbursed to their "moral claimants" under the approved Civil Law Act amendments. Moral claimants are those to whom the dead person may have reasonably expected to leave his assets, such as those who have cared or provided for the person.

• From 1 Nov 2012, the various top-up schemes CPF

members have used to contribute to their own retirement savings or those of their loved ones will be merged into the Minimum Sum Topping-Up (MSTU) scheme. The MSTU scheme allows CPF members to voluntarily top up the CPF accounts of ageing parents or other family members, and gives a tax relief of up to $7,000 if you make the top-ups in cash.

• Coverage for the elderly from the Medisave scheme

will be enhanced from next March. Among them, MOH will be increasing the Medisave withdrawal limits for premiums, to fully cover basic MediShield premiums at all ages. The Medisave withdrawal limits for MediShield and Integrated Shield Plan premiums will be increased from $800 to $1,000 for those aged 76 to 80 and from $1,150 to $1,200 for those above age 80. The maximum entry age of 75 will also be removed.

AIA

• Launch of AIA Guaranteed Protect (Sep)- Limited premium Par whole life plan which provides

cover for Death and TPD.- Premium payment term can be 15 or 20 years.

-Guaranteed Protect Multiplier feature increases the insured amount by up to an additional 200% (depending on entry age) in the event of a claim before age 65.

- After the 2nd policy year, non-guaranteed annual dividends will be paid.

GE Life • Voucher & Holiday Getaway Promotion (Oct to

Dec)- Tier voucher and holiday getaway promotion with

purchase of selected regular premium plans.- Minimum annualised premium starting from S$200. - Additional S$20 vouchers with purchase of PA plan. Prudential • Launch of PRUflexicash Protection Plus (Oct)- Endowment plan that pays lump sum of up to 4 times the sum assured in the event of Death, Accelerated Terminal Illness or Accelerated Disability.

- Policy terms of 15 or 25 years.- Options to receive Yearly Cash-back after the 2nd

policy anniversary or defer it to after the 10th policy anniversary or later. Interest rate is 3% for cash-back deposit with Prudential.

- Future Insurance Option (FIO) to buy new plan within 4 years from first premium due date even if health condition changed.

• Extra Premium Allocation on PRUSelect Vantage (Oct to Dec)

- Up to 9% additional premium allocation for the first year with purchase of the RP-linked plan.

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Our Ultimate Protector provides coverage for Death, TPD and TI. Premiums are payable for 10, 15 or 20 years. Minimum Protection Benefit (MPB) guarantees coverage for up to 200% of the chosen Face Amount until age 65. Accidental Death Benefit equivalent to 50% of the MPB between ages 12 and 65. A Guaranteed Insurability Option allows policyholder to take up a new par policy at two life-stage events without evidence of health.

Our SmartSaver has a wider savings term of 13 to 25 years and offers protection for death, TPD & TI. Annual guaranteed cash-back equivalent to 5% of the sum insured from the 2nd policy anniversary onwards or leave the cash with Manulife to enjoy interest at a higher rate of 3.5% per annum. Receive up to 120% of total Cash Coupons plus a projected maturity bonus.

- Minimum monthly premium from S$750.

• Endowment Promotion (Oct to Nov)- Tier gift promotion with purchase of selected savings

plan attached at least one eligible Supplementary Benefit. -Minimum annualised premium starting from S$2,800.

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Our ManuTerm covers death & TI and allows conversion without evidence of health to any Manulife whole life, endowment or investment-linked plans before age 65. Quit Smoking Incentive, a first in the Singapore market for a term assurance plan, which incentivises life insureds who are smokers to lead healthy lifestyles without cigarettes while enjoying non-smoker premium.

Manulife Income Series - Strategic Income Fund Launch CampaignStarting from 29 Oct for one-month period, clients will be rewarded with $50 Takashimaya Gift Vouchers for every $20,000 new investments under this fund. Manulink Flexi & Flexi Plus CampaignClients will be rewarded with Takashimaya Gift Vouchers when they purchase new Manulink Flexi or Flexi Plus plans. Promotion ends 31 December 2012. Act on it now!

Disclaimer: This publication is intended for general information. The views expressed do not have regard to specific investment objectives, financial situations or your particular needs. Manulife shall not be liable for any action taken based on the views expressed and information provided in this publication.

TM Asia • Launch of TM Term Assurance (Sep)- Available in 5 and 10 -year terms, and also up to ages 65, 75, 85 and 99.- Provides protection against Death, TPD or TI.- Guaranteed renewal (for 5/10 years term only).- Option to convert this term plan into a regular premium whole life or endowment plan without evidence of health.- Added Longevity Benefit of 10% of the Sum Assured when the life insured survive to age 99.