The Central Provident Fund, or CPF, plays a crucial role in retirement planning for many in Singapore, yet it’s often underutilized. With significant modifications set to impact the CPF Special Account in 2025, now is a critical time to reevaluate how you’re handling your CPF funds. The most noteworthy change? Once you reach the age of 55, the CPF Special Account will close, and any remaining balance, after securing enough for a Full Retirement Sum, will be transferred to your CPF Ordinary Account (OA). Does that sound a bit perplexing? To make sense of it, consider reading the update: CPF Special Account Closure: Navigating the New CPF Landscape. Essentially, by the time you turn 55, you might find more funds in your OA than anticipated, which may not align with your financial goals. Why is this the case? Let’s explore what this means and what steps you can take.
CPF Shielding and Interest Rate Insights
The CPF Board offers a nearly guaranteed interest rate on your savings, which is a…
