[wdn]

I think Canada has the same systems.

Singapore don't penalize saving and you see how competitive they are. More importantly, they have a lot of savings.

[pbourke]

Canada has the Tax Free Savings Account, which can be used like a Roth IRA (long-term investing without taxes due at withdrawal) or like a regular savings account. It's an after tax account, but earnings are, as the name says, tax free regardless of type.

https://en.wikipedia.org/wiki/Tax-free_savings_account