55 is a milestone age for many Singaporeans as we all look forward to cashing out our hard-earned CPF savings accumulated through decades of hard work. But before you rejoice, it is important to understand the CPF Retirement Sum Scheme.
This is because the amount of cash you can take out may be vastly different from what you had been dreaming of all along. There might be heart pain. There could be disappointment, or even bitterness.
To put things into perspective, Central Provident Fund (CPF) is Singapore’s social security system and over the years, it has evolved to cover not just our retirement needs, but ...