S1E22: Things to consider now that CPF Special Account will be removed for those 55 and older

  • 18 Mar 2024

How much should you put into your CPF Life then?

Synopsis: Every third Monday of the month, hosts Lee Su Shyan and Ven Sreenivasan - both associate editors and senior columnists at The Straits Times - offer you an extra edge in managing your hard-earned money.

In this episode, Mr Christopher Tan, CEO and founder of Providend - a fee-only wealth advisory - discusses the closure of the CPF special account for those 55 and over from early 2025, which was announced during Budget 2024.

What are the implications for CPF members and how can they best manage their CPF savings?

Highlights (click/tap above): 

3:30 Context for why the CPF Ordinary, Special and MediSave accounts were set up 

7:30 Reasons for the removal of the CPF Special Account for those 55 and older 

13:15  Considerations for CPF members as they aim to boost their returns 

15:10 What to bear in mind: Whether to go for the Enhanced Retirement Sum and what you can do with CPF Life 

20:00 CPF Life and longevity risk

Produced by: Lee Su Shyan (sushyan@sph.com.sg), Ven Sreenivasan (ven@sph.com.sg), Ernest Luis and Teo Tong Kai

Edited by: Teo Tong Kai

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