When was the last time you heard the terms “1M65” or “1M55” thrown around in retirement planning discussions? Or perhaps, the buzzword “CPF Shielding” used to dominate conversations among friends? Well, it seems like those days are over with the recent announcement of the Special Account closure in Singapore’s Budget 2024. As you may have heard, significant changes to Singapore’s Central Provident Fund (CPF) system were unveiled during Budget 2024, causing quite a stir. Amidst the complaints, grievances, and misunderstandings flooding internet forums, I’ve decided to write this article. As a financial professional who specializes in retirement and investment, I hope I can provide clarity on what’s really matters, and how you should approach these changes objectively. “Return My CPF” Movement – a Bit of History Having been in the financial industry and writing blogs for quite some time, I understand that things aren’t always as they seem, especially when it comes to money. To comprehend money matters, a bit of historical context is essential....