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Why it pays to plan for retirement income of up to $3,300 from your CPF
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Those who make such voluntary top-ups can expect to receive higher monthly payouts of about $3,300 from age 65, almost double the $1,700 payout for those who choose not to do so.
PHOTO: LIANHE ZAOBAO
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If you are looking for a useful New Year resolution, make retirement planning a priority so you can take advantage of a new and important change to CPF that kicked in on Jan 1, 2025.
Those turning 55 now have the option of doubling their retirement savings, from the mandatory full retirement sum of $213,000 to the new enhanced retirement sum (ERS) of $426,000 for CPF Life.
