Confucian teachings have perpetuated the belief that the role of a woman lies in reproduction and managing the household. Therefore, for folks who are aged over 55 today, they probably grow up in a society where it is common to have only one sole breadwinner in the family. An inconsequential result of this social norm in modern Singapore is that woman retirees today have had lesser years to build up their retirement savings. Many of them have low CPF balances and Heartland Boy’s mother-in-law was unfortunately one of them. However, his father-in-law performed a CPF top-up to his spouse’s retirement account several years ago after learning about the various pros and cons.

Pros Of Topping Up Your Spouse’s Account Using CPF 1. Potentially Higher Interest Rate For Household CPF Accounts

A little-known fact is that CPF members who are aged over 55 years old receive an additional 1% extra