# SAVER-Premium Fund

SAVER-Premium Fund is a Pension Fund based in Singapore, Singapore.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Singapore, Singapore
- **Region:** Asia
- **Address:** Singapore, Singapore
- **Founded:** 1998
- **Assets under management:** Undisclosed
- **Website:** www.mindef.gov.sg
- **LinkedIn:** https://sg.linkedin.com/company/singapore-armed-forces

## Regulatory record

- **Reports private funds:** No

## About

The SAVER-Premium Fund was established on April 1, 1998, through the Singapore Armed Forces (Amendment) Act, combining the assets of the SAVER and Premium Plans into a single co-investment pool. Held as a Government fund under the Ministry of Defence (MINDEF), it is administered by a Board of Trustees appointed by the Armed Forces Council. The fund's sole beneficiary group is the regular personnel of the Singapore Armed Forces. Portfolio construction spans global equities, bonds, and direct commercial real estate. The fund holds a US Real Estate Investment Trust ETF alongside globally diversified equity and fixed-income allocations. While specific manager-lineup details remain internal to MINDEF, its governing board carries senior military command representation—Vice Admiral Aaron Beng (Chief of Defence Force), Major-General David Neo (Chief of Army), Major-General Kelvin Khong (Chief of Air Force), Rear-Admiral Sean Wat (Chief of Navy), and Major-General Lee Yi-Jin (Chief of Digital and Intelligence Service)—ensuring alignment between force-structure priorities and long-term asset management. The Board of Trustees blends public-sector oversight with institutional investment expertise, including Jacqueline Loh Wai Yin, Deputy Managing Director at the Monetary Authority of Singapore (MAS), Geoffrey Wong Ee Kay, Managing Director at UBS Global Asset Management, Low Check Kian, co-founder of NewSmith Capital Partners, and Richard Chan, partner at Avanda Investment Management and former GIC executive. No supplementary vehicles, club memberships, or philanthropic structures have been disclosed. Structurally, the fund is distinct among Asian pension systems: a statutory military retirement trust governed by uniformed leadership rather than a standalone investment authority. This architecture embeds defense-policy continuity into the fund's governance, making it a sovereign-pegged but military-controlled pool of patient capital.

## Sectors

- Real Estate
- Government

## People

- Melvyn Ong — Chairman, Board of Trustees
- Aaron Beng — Board Member
- David Neo — Board Member
- Kelvin Khong — Board Member
- Sean Wat — Board Member
- Lee Yi-Jin — Board Member
- Jacqueline Loh Wai Yin — Trustee
- James Loh Sinn Yuk — Trustee
- Geoffrey Wong Ee Kay — Trustee
- Ho Tian Yee — Trustee
- Low Check Kian — Trustee
- Richard Chan — Trustee

## Questions

### Who governs the SAVER-Premium Fund?

A Board of Trustees appointed by the Armed Forces Council governs the fund. Permanent Secretary (Defence Development) Melvyn Ong chairs the board. Trustees include the Chief of Defence Force and heads of the Army, Air Force, Navy, and Digital and Intelligence Service, alongside external finance professionals from MAS, UBS, NewSmith Capital Partners, and Avanda.

### How is the fund structured in relation to the Ministry of Defence?

The fund is held, managed, and administered as a Government fund under MINDEF. It is not a separate statutory board or investment corporation. All trustees serve at the appointment of the Armed Forces Council, and the fund's beneficiary base is restricted to Singapore Armed Forces regular personnel.

### What does the SAVER-Premium Fund invest in?

The fund maintains a globally diversified portfolio of equities and bonds, alongside direct exposure to US commercial real estate through a REIT ETF. It co-invests assets from both the SAVER and Premium plans. No private-market program or direct private-equity fund commitments have been publicly disclosed.

### Who are the external trustees and what do they bring?

External trustees include Jacqueline Loh Wai Yin (Deputy MD, MAS), James Loh Sinn Yuk (JL Capital), Geoffrey Wong Ee Kay (UBS Global Asset Management), Ho Tian Yee (Fullerton Fund Management), Low Check Kian (NewSmith Capital Partners), and Richard Chan (Avanda, former GIC). They bring institutional portfolio management, central-bank reserve expertise, and hedge-fund/asset-management governance to the board (per Altss research).

## Related profiles

- [Savia Ventures](https://altss.com/profile/savia-ventures)
- [Savior Wealth](https://altss.com/profile/savior-wealth)

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Last updated: 2026-06-03T20:00:00.000Z

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