Personal Finance
All You Need To Know About the Differences Between CPF Voluntary Contributions and CPF Retirement Sum Topping-Up Scheme
By Planner Bee  •  December 7, 2022
There are many methods to grow your nest egg. Tapping on the CPF Voluntary Contributions and CPF Retirement Sum Topping-Up Scheme are some of the most popular ways.  But what’s the difference between both of them? Read on to find out more. Your Central Provident Fund (CPF) is a key source of money for many major expenses, such as education fees, medical bills, and housing loans. But it’s also one of the most important places to store and grow your retirement funds. Among the nearly 400,000 CPF members with at least S$500,000 in their accounts, about 8,500 of them were aged 40 and below. It may not seem like a ton of people, but it shows that it’s possible to save half a million by the time you hit 40. If you want to be one of them, first you need to know the difference between CPF Voluntary Contributions and the CPF Retirement Sum Topping-Up Scheme, so you can make well-informed...
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By Planner Bee
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