Personal Finance
CPF Monthly Payouts Start At Age 70: What Could Have Been Done Better? Is It Still A Reliable Retirement Plan?
By Seedly  •  January 22, 2019

A recent screenshot of a letter from the Central Provident Fund (CPF) Board might have gone viral on the internet.

This letter was to a Singaporean who is turning 65 years old in May 2019. According to the understanding of most Singaporeans, 65 is the age where one is eligible for CPF monthly payout. The letter, however, states that the payout is “by default” shifted to age 70 and one will need to opt out of it to receive the payout earlier.

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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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