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Tag Archives for " CPF Life "
Less Options for CPF Life
It has been announced that CPF Life will be revamped from the year 2013 onwards. Instead of providing four options for CPF members to choose form, members will now be given only two choices – the existing basic plan, and a new standard plan which is a combination of the two current most popular plans (Balanced […]
Singapore May Raise Retirement Age to 68
Yesterday, Minister in the Prime Minister’s Office Lim Boon Heng mentioned that Singapore may need to raise its retirement age to 68. Reasons cited included Singaporeans living longer and needing to accumulate more for their old age. This is probably one of those sensitive issues and the government is probably trying to test the ground […]
Second Auto-Inclusion Point for CPF Life
Parliament has just passed changes to the CPF Act to auto-include those with $60,000 in their Retirement Accounts at the age of 65 into the CPF Life scheme. Previously, only those with at least $40,000 in their Retirement Accounts when they turned 55 from 2013 would have been auto-included in CPF Life. Now, those with […]
CPF Life Questions
This is a follow up on the earlier post on CPF Withdrawal and Minimum Sum scheme and will explore a couple of issues on CPF Life. There is a handbook on CPF LIFE (guide B) which tries to explain in details how the scheme works. Before reading it, you can read the basic guide which […]
CPF Withdrawal and the Minimum Sum Scheme
CPF Life is probably one of the most confusing and opaque product that has come out from CPF board in recent years. To come up to speed with understanding CPF Life, let’s first look at how the current CPF withdrawal and Minimum Sum Scheme works. I have to put a big disclaimer here that the […]