But Institute of Policy Studies senior research fellow Christopher Gee and labour economist Walter Theseira said the scheme, which is being reviewed for the first time since its introduction five years ago, could be updated more regularly.
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Mr Gee said one indicator that could be used is the Central Provident Fund (CPF) Basic Retirement Sum (BRS), which is adjusted every year in line with expenditure patterns reflected in the Household Expenditure Survey and income levels.
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