The Central Provident Fund Retirement Sum Topping-Up Scheme is one which our millennials should not ignore ("CPF Topping Up: A great way to save"; last Sunday).

Setting aside $7,000 a year, or about $580 a month, is an affordable way to grow one's retirement nest egg.

There is another little-known scheme Singaporeans could take advantage of, whereby they make a voluntary cash refund of CPF monies used for the purchase of property ("6 little-known facts about the CPF"; Sept 4).

Under this scheme, a CPF member could do a voluntary cash refund of the amount of CPF monies used for the purchase of property, plus the interest accrued, to his CPF account, and take advantage of the good interest rate.

This is a very good scheme and is far-reaching.

A member who has insufficient cash on hand could use his CPF savings first to finance his housing needs, and have the assurance that he can later refund the amount used to prepare for his retirement.

Unfortunately, this scheme is not available to those who turned 55 before Jan 1, 2013.

I hope the CPF Board will review this age criterion so that those who were born earlier can also enjoy this scheme.

David Chee Fong Sen