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How to maximise CPF savings to grow your nest egg for retirement
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Are you heading for a comfortable retirement? In this edition of Money Matters, we learn how Singaporeans can make the most of their Central Provident Fund (CPF) savings to build up their retirement nest egg that can continue growing for years.
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SINGAPORE – Hitting 55 is a significant milestone for many Singaporeans – it’s that much closer to retirement and also the age when we can withdraw some of our Central Provident Fund (CPF) savings.
But don’t open the bubbly too quickly – about 33 per cent of active CPF members who turned 55 in 2022 have not set aside the Full Retirement Sum in their CPF savings or in CPF savings and property, noted the Ministry of Manpower (MOM).