Use CPF Life to cushion inflation in old age

Inflation is going to affect everyone and something needs to be done today so that you can have more to spend tomorrow. PHOTO: ISTOCKPHOTO
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SINGAPORE - The Central Provident Fund (CPF) is back in the news after the Budget statement last month because the compulsory retirement sums that need to be set aside for those hitting 55 will go up by 3.5 per cent a year for the next five years.

Those who criticise the CPF for "locking up" their money will cry foul and say that the goalposts are being moved yet again because this change means more money will need to be set aside.

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