Earlier today, there was this article indicating that those who turn 54 this year are eligible for a new CPF retirement planning service (CRPS). There will be a one on one session to help the individual to understand the CPF scheme and plan for the options which will be available one year later when they turn 55.
Article at:
http://www.straitstimes.com/business/invest/something-to-plan-for-when-youre-54
In the same article, they also provided a few examples on how much you can withdraw at the age of 55. I feel that this is quite useful and will share here with some of my comments:
SCENARIO 1
Mr Raju's OA savings at age 55 amount to $100,000 while his SA savings are $180,000, which is a total of $280,000.
The Full Retirement Sum of $166,000 will be set aside in his RA, which will provide him with a monthly payout of $1,380 from age 65 for ......
