Revisit your CPF options to get the best out of them

The retirement sum increases annually to keep up with inflation, so consider topping it up early to optimise your savings

CPF retirement sums increase annually to keep up with the inflation, so it is worth considering top-ups to boost our nest egg.
CPF retirement sums increase annually to keep up with the inflation, so it is worth considering top-ups to boost our nest egg.ST PHOTO: KELVIN CHNG

There is no better time than the start of a new year to take stock of our finances and evaluate our goals and budget, including running the rule over the low-risk option of Central Provident Fund (CPF) savings.

CPF retirement sums increase annually to keep up with the inflation, so it is worth considering top-ups to boost our nest egg. To help you better plan for your retirement, the CPF Board has outlined the retirement sums applicable to members turning 55 from 2016 to 2020 in advance. The Sunday Times highlights what CPF members can do to optimise their retirement savings.

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A version of this article appeared in the print edition of The Sunday Times on January 27, 2019, with the headline 'Revisit your CPF options to get the best out of them'. Subscribe