Today, we will be sharing a short summary about the 3 type of CPF Retirement Sum available.
To know more about what is the Retirement Sum for, read up on it HERE
Full Retirement Sum (FRS)
This is the minimum sum that most Singaporeans are familiar with.
It is the amount of money that you hope/should have in your Retirement Account (RA) when you reach age 55.
If your birthday falls
Before 1st July 2015, it is $155,000
After 1st July 2015, it is $161,000
Basic Retirement Sum (BRS)
This is technically the basic sum required inside your Retirement Account (RA).
It is set at half of FRS.
If your birthday falls
Before 1st July 2015, BRS is $77,500
After 1st July 2015, BRS is $80,500
However, to qualify for this amount, you need to have a house (fully paid or not yet fully paid; we will discuss this in ......
