CW8888 : More money into CPF so less money into stock market. LOL!
SINGAPORE: A total of S$3 billion in Central Provident Fund (CPF) top-ups were made by 140,000 people under the retirement sum topping-up scheme last year.
This was 40 per cent more than the amount of top-ups made in 2019, the CPF Board said on Wednesday (Feb 3).
The CPF Board said it saw a substantial increase in top-ups of S$1.2 billion in the last quarter of 2020 alone.
This shows that people are “saving and planning for their own and loved ones’ retirement more than ever, even in the midst of the COVID-19 pandemic”, it added.
Of those who made top-ups last year, more than one-third were topping up for the first time, an increase of more than 50 per cent compared to 2019