SINGAPORE - Manpower Minister Josephine Teo addressed several MPs' questions in Parliament on Monday (Feb 18) on when Central Provident Fund (CPF) members can start receiving payouts from their retirement savings.
She emphasised that there is no change in policy. They can choose to start their monthly payouts at 65 or defer payouts anytime between 65 and 70. Age 70 is the latest that you can defer payout.
The questions came after some CPF members were confused by social media posts circulating last month that suggested that the payout age for the Retirement Sum Scheme had been shifted from 65 years old to 70 years old.
Below are five things members need to know about retirement payouts.