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How to make your extra cash work harder
Options include topping up CPF accounts, or paying off your housing loan
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If more Singaporeans know how to make better use of the Central Provident Fund (CPF) to save enough for themselves, the Government will have fewer people to worry about, says the writer, and it will be money well spent if the CPF can help the vast majority of future seniors be self-sufficient.
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There is a special fund that is safe as houses while paying a guaranteed annual return of 4 per cent, even as the pandemic continues to ravage the global economy.
What's more, your money will be protected even if things get worse, and you will not lose a cent. So if you park $100,000 there, you will see $104,000 in the account a year later.
