In a Channel NewsAsia (CNA) article on 18 Sept, it reported that more people in Singapore are making voluntary contributions to their CPF account. According to the CPF Board, these top-ups amounted to about S$500 million in 2014. That is 25% more as compared to 2013. A former investment analyst Lim Chin Yong, a 56 year old, is one of the those who made voluntary contributions to their own CPF account.
Guesstimate on the Age Categories of these Contributors
It would be great if the report indicated a breakdown on the age
categories of these contributors. There were nearly 74,811 top-ups last year (2014).
My guess is that people nearing their retirement might be the bulk who are making these voluntary contribution to their CPF account. People like Lim Chin Yong.
If I am close to retirement age, and I have spare …