No More CPF Special Account 'Shielding': What Are Your Options For Retirement Planning? | Money Mind

Major changes have been announced to Singapore’s Central Provident Fund scheme. How will it change the way you plan for your retirement?

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#CNA #MoneyMindCNA #CPF #Retirement #Singapore #investment

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[rodgertim]

My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 60, wife is 53. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you talk about how to earn passive income online and retire comfortably, let’s say $1M.

[anziar]

Wow! PAP has proven itself to be the only responsible and reliable party in s'pore.❤❤

[WWK]

Seniors between 55yrs and 65 yrs might be thinking of shifting funds out of CPF.
Seniors are vulnerable to scams and may not be investment savy.

Recent headlines involving seniors is heart breaking.
The prospect of them earning back retirement funds lost to fraudsters is bleak.

Imagine scammers on stand by mode and policy makers thinking not my responsibility.

[reddotdiva]

Sure, you can put more money into the retirement amount but even though the retirement account earns the 4% interest. When you are in 65yo (latest at 70yo), you join CPF Life automatically. When you pass away, this interest is not withdrawal for your beneficiaries. The interest is pooled for the others who are in CPF Life. If you live a long life, the amount of extra money you put into your RA (like Enhanced 3x or 4x), could have earned more interest in other products, which is available for your beneficiaries or your own use. So, consider what you need and can do with your funds carefully.

[lee]

It seems everytime a major CPF policy change results in making it worse for contributors. There is no guarantee all the options Lorna listed down are still valid in the future.

[RachellGroth]

Retirement planning is very important in our world, funny how in some parts of the world, you need over a million dollars  to retire comfortably

[aza]

Can we withdraw our medisafe account.I have never use up my medisafe at all.Im now almost 70 this year.I hope to enjoy my money before end of my life.

[MKiurinuRigold]

This documentary is beneficial
To me I learn something new

[elipick]

talk talk talk.... should have use more infographics to explain these 4 cookie jars and whatever levels of $$$ that is supposed to be inside each of them..

[darrenpalanisamy]

Been watching some of these videos incl the above by CNA but none are mentioning, how all these changes helping fellow Singaporean's living abroad?
1) S'porean's are not benefitting the special grants just because they're residing abroad, but we're S'poreans. So the govt don't NEED to give us these benefits?

2) How abt S'poreans who don't own any properties & residing abroad permanently?

3) At 55, all we can withdraw is 5k. How abt the usage of Medisave for all those living abroad and again for those who don't own any properties in S'pore & having a Medical Condition and /or life threatening and not able to work? We can only use it in S'pore? How is it right for a S'porean living abroad?

Can CNA or any one shed some light here for the benefit of those 55 and above, living overseas?
Thank you.

[martinbrock]

It still cannot see the reason why it failed.

[eugeneteo]

spend wisely when the brain is still thinking right.

[schadenfreude]

Hopefully they increase the current FRS limit even higher so that people will have less money to move into their OA when they reach 55. 🙂

[kcchiew]

I will let my SA stay in OA next year, withdraw when it is needed. At age 57 (2025 June), I prefer to live with a simpler life.❤

[LonganLee]

So, always good? Before the SA removed is Good and After its removed still Good. Singapore is the very the amazing bo bian ones lehz🏆🏆🏆🏆🏆

[lotusable]

“Sweetener” with MOVABLE goalpost..mai lah mai lah

[snsdjerry]

those in sg better make plan to chao haha i alrd did

[lktan]

Stop listening to the so called experts or vultures.

[Eiji_Kisaragi]

1:00 she say for this people!!!! instead of saying CPF members… kinda rude and unprofessional
😫😫😫😫

[ChrisChow]

I learnt something new about Alibaba tactics