01 Jun '12, 4am

CPF Minimum Sum Scheme

CPF Minimum Sum Scheme

With increased life expectancy, we must set aside enough savings to see ourselves through a longer period of retirement. The CPF Minimum Sum Scheme provides members with a monthly income to support a modest standard of living during retirement. (Refer to CPF Minimum Sum Payout Calculator ) Members may participate in CPF LIFE or buy approved life annuities with their Minimum Sum to give them a guaranteed income for life. Alternatively, they may place their savings with approved banks or continue to keep it with the CPF Board. The Minimum Sum left with the CPF Board currently earns 4% interest per annum. The interest rate is revised every yearly. Upon reaching 55, you will be able to withdraw a portion of your CPF savings based on your available CPF balances. Setting aside the Minimum Sum when you reach 55 ensures that you have some regular income from the current Draw-Down ...

Full article: http://thefinance.sg/2012/06/01/cpf-minimum-sum-scheme/

Tweets

CPF Minimum Sum to be raised to $139,000

CPF Minimum Sum to be raised to $139,000

straitstimes.com 30 May '12, 10pm

Central Provident Fund (CPF) members turning 55 between July 1 this year and June 30 next year will have to leave at least...

CPF, Medisave minimum sum to be increased

CPF, Medisave minimum sum to be increased

straitstimes.com 30 May '12, 3am

CPF members, who turn 55 between July 1 and June 30 next year will have to set aside a minimum sum of $139,000, up from $1...

CPF Minimum Sum to be raised to S$139,000

todayonline.com 30 May '12, 4am

SINGAPORE - Central Provident Fund (CPF) members who turn 55 between July this year and Jun 30 next year have to set aside...

CPF, Medisave minimum sums to go up: MOM #Singa...

sg.news.yahoo.com 30 May '12, 9am

(UPDATED: 31 May, 11am, corrected factual inaccuracies) Central Provident Fund (CPF) members who turn 55 between this July...