Last Saturday, there was a protest against the Central Provident Fund (CPF) system, drawing almost 3,000 people at Hong Lim Park. During the protests, the speakers demanded amongst many things, a better CPF interest payout, the allowance to draw out their CPF savings at 55 years old and to be able to opt out of CPF Life. The protests highlighted certain misconceptions on the CPF System which I find worrying for fellow Singaporeans. Obviously most Singaporeans don't understand how to manage their monies.Higher returns, higher risks
...According to the CPF website, an additional 1% interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the Ordinary Account (OA). The additional interest received on the OA will go into the member’s Special Account or Retirement Account to enhance his retirement savings. If a member is above 55 years old and ...
