[Levin]

Rachel Chan
05 Oct 2022 04:57PM
(Updated: 05 Oct 2022 05:07PM)


SINGAPORE: More than S$3.5 billion in Central Provident Fund (CPF) top-ups were voluntarily made by about 200,000 people to their own or their family members' retirement savings in the first three quarters of 2022.

This is a record high, said the CPF Board in a media release on Wednesday (Oct 5), noting that the amount is S$84 million more than in the same period last year.

It also surpasses the S$3 billion in CPF top-ups to retirement savings, made by 140,000 people, in the whole of 2020.

One in four people who made top-ups for themselves or their family members in 2022 has been doing so for at least three consecutive years, said CPF.

"Cash top-ups and CPF transfers to the Special Account or Retirement Account remain popular amongst Singaporeans who wish to enjoy higher returns of up to 6 per cent per annum with zero risk," said the agency.


https://www.channelnewsasia.com/singapor...?cid=FBcna

[RiseofAsia]

Must be crying now why so foolish for those below 55.
Even Sg Sai bond now offers higher rate than CPF OA account.
It must be a joke CPF can retire happily.
Cant even fight inflation.


The best part of SG sai bond compares to CPF LJ rate account is that it can take out anytime you want.

[Huliwang]

Must be crying now why so foolish for those below 55.
Even Sg Sai bond now offers higher rate than CPF OA account.
It must be a joke CPF can retire happily.
Cant even fight inflation.


The best part of SG sai bond compares to CPF LJ rate account is that it can take out anytime you want.

200,000 gongkia. Banks 5% coming soon. ......

[RiseofAsia]

If they cant perform, why dont let poor daft to take out their hard earned $$$ from CPF OA for those below 55 to put them into bank fixed deposit.

[RiseofAsia]

200,000 gongkia. Banks 5% coming soon. ......

Now I am very headache to put my eggs into which risk free fixed deposit.

[Teeth53]

200,000 people to their own or their family members' retirement savings in the first three quarters of 2022.

This is a record high, said the CPF Board in a media release on Wednesday (Oct 5), noting that the amount is S$84 million more than in the same period last year.

It also surpasses the S$3 billion in CPF top-ups to retirement savings, made by 140,000 people, in the whole of 2020.

One in four people who made top-ups for themselves or their family members in 2022 has been doing so for at least three consecutive years, said CPF.

"Cash top-ups and CPF transfers to the Special Account or Retirement Account remain popular amongst Singaporeans who wish to enjoy higher returns of up to 6 per cent per annum with zero risk," said the agency.

"With higher balances in their CPF, members can enjoy higher CPF LIFE monthly retirement payouts, no matter how long they live."

[sgbuffett]

I also went topup.
The CPF SA is good as an FD.
I am just using it as FD.

However as a pension fund, it is hopeless

[singlon]

This shows sinkaporLans love Singapore
Don't break their hearts
They will never believe you again.
No. 1 is of cos singlion who will kiss the ground of Singapore.

[Scythian]

.
That's the main reason why CPF CEO is so afraid to raise interest rate above 2.50% pa

Any hike will cost more interest payment and also affecting GIC performance badly

[Napoleon Porlumpar]

Must be crying now why so foolish for those below 55.
Even Sg Sai bond now offers higher rate than CPF OA account.
It must be a joke CPF can retire happily.
Cant even fight inflation.


The best part of SG sai bond compares to CPF LJ rate account is that it can take out anytime you want.

i think people put in their parents' RA ...................good what.................can keep this ponzi game going longer.............as long as the game keep going while you're alive okay liao...........

[Ola]

PAP forcing people to feed their coffers

It is alot of old people like taxi- drivers

who need the money for medical in the future

Not because it is good.

[menghuii]

quick b4 curbs

[Blasterlord2]

Top up CPF will have heartache meh? As though the difference between this and FD is very big.