The Central Provident Fund (CPF) Board will get a new chief on April 1, as Mr Ng Chee Peng steps down after 30 years in public service.
Current Ministry of Manpower (MOM) deputy secretary Augustin Lee, 47, will succeed Mr Ng, 48, as chief executive.
In a statement yesterday, MOM thanked Mr Ng for his leadership.
Mr Aubeck Kam, Permanent Secretary for Manpower, said that under Mr Ng, the CPF Board provided members greater assurance in their retirement, improved members' service experience, enhanced the board's digital shopfront and deepened engagement with members.
"The Ministry of Manpower would like to put on record its appreciation to Chee Peng for his leadership of CPF Board," he said.
Mr Ng's career in the public service began in 1989, when he was awarded the President's Scholarship and the Singapore Armed Forces (SAF) Overseas Scholarship.
Besides being on the CPF Board, he held previous appointments as chief of staff-joint staff in the SAF and chief of navy.
Since he joined the CPF Board in March 2015, Mr Ng has spearheaded the implementation of policy initiatives recommended by the CPF Advisory Panel.
These include options to help CPF members grow their retirement savings and receive payouts that better meet their retirement needs, as well as greater flexibility to transfer their CPF balances to loved ones.
He also led the board in a digital transformation journey to improve members' service experience.
The CPF Board became the first government agency to implement the use of PayNow in its services.
With PayNow, CPF members who have turned 55 can make withdrawals conveniently using their mobile devices, and can receive their money within minutes.
The board also inaugurated the use of call authentication for its call services in March 2017.
This enables members to receive personal information over the phone in a convenient and secure manner.
The "my cpf" mobile application and "my cpf" e-Services profile page were revamped to provide an enhanced user interface and personalised experience for members.
In addition, during Mr Ng's tenure, the CPF Board introduced annual CPF retirement planning campaigns and road shows, as well as new social media channels to help Singaporeans better prepare for retirement.
The board also implemented a number of initiatives, such as the revamped CPF yearly statement of accounts and the CPF Retirement Planning Service.
Mr Ng's successor, Mr Lee, has held various appointments at the Ministry of Health and Ministry of Trade and Industry.
He was also the principal private secretary to then Senior Minister Goh Chok Tong. He joined MOM as deputy secretary in 2010.
Mr Lee graduated from the National University of Singapore with bachelor's and master's degrees in engineering.
He also holds a Master of Science degree in management from Stanford University in the United States.