Data on wealth inequality in Singapore — showing that the top 5 per cent of households hold about one-third of the country’s wealth — should be interpreted with caution, Acting Transport Minister and Senior Minister of State for Finance Jeffrey Siow said in Parliament on Wednesday (Feb 25).Siow was responding to parliamentary questions from several Members of Parliament about the Ministry of Finance’s (MOF) release of statistics on income growth, inequality and social mobility trends, which included market income and wealth for the first time on Feb 9.Singapore's wealth inequality coefficient stands at 0.55, comparable to estimates of other advanced economies like the United Kingdom, Japan and Germany, ranging from 0.6 to 0.7.The top 1 per cent of households in Singapore own about 14 per cent of total wealth, while the top 5 per cent hold about 33 per cent, said Siow.«However, these estimates should be interpreted with caution, due to sample size limitations and potential under-reporting in survey responses at both ends of the distribution,» he added. Read more