[Tee tiong huat]

Sinagpore CPF Interest Rates 2024, Check Here For Increased Rates and More Details
December 8, 2024

CPF interest rates for 2024, including the maximum contribution, withdrawal process, & minimum & maximum sum limits. S'pore Govt has made saving for retirement simpler. CPF interest rates have been updated to benefit public. Read on for a detailed overview of CPF interest rates for 2024.

[Tee tiong huat]

Govt has implemented some changes for 2024, including notable rate adjustments to reflect current living conditions. CPF contributions for seniors increased by 4.80% in the first quarter of this year ncrease will be visible in their MedSave or Retirement Accounts. CPF plays a crucial role in managing pension contributions for both employers and employees. Govt contributes an additional $60,000 toward the first combined allowance. Scroll down for info on CPF interest rates...Contributions are calculated based on person’s annual income, additional allowances provided for support & increases benefits. Participants in CPF Life Scheme can receive combined balance, including CPF Life payments.
Interest rates for MedSave and Special Accounts currently range from 4% to 6%. These are the highest rates seen in recent years. Contributions to the CPF account depend on the interest rate and the type of account. Below are details about each account type:

Ordinary Account...The interest rate for the Ordinary Account in the first quarter of this year is 2% per annum. This rate is based on the average interest rate from private banks over the past three months. Last year’s rate for the Ordinary Account was 0.66%.

Particular Acct & MedSave Accts in previous years, annual interest rate was 4.08%. Interest rates are revised quarterly 
& calculated over a 12-mth compounding period. Current rate this year is 4.12%, it's expected to rise in coming quarters. S'pore Govt Securities add 1% to interest rates. Starting in Dec 2024, a minimum interest rate of 4% will be set to encourage citizens to boost their retirement savings.

Retirement Account Interest Rate
Interest rates for Retirement Accts are lower than those for MedSave accounts, which receive highest rates. Other accts are calculated based on Retirement Acct structure. Interest is compounded annually, with a 10-year S'pore Govt Security bond added. Bond includes an additional 1% in interest. Rates will be compounded from this year onwards. Last year’s interest rate was 4.08%. This year, it will decrease to 4%, aiming to encourage younger individuals to contribute to their retirement savings.

[Tee tiong huat]

How to Withdraw Money?
Once they turn 55, individuals can withdraw funds from their CPF accts. They can apply for a withdrawal through official CPF portal.

Here are the steps to withdraw CPF funds:
Complete the Form: All fields in the application form must be filled out, as they are mandatory.
Partial Withdrawal: There is no requirement to withdraw the full amount; individuals can specify the amount they wish to cancel.

Account Update: Before submitting the form, ensure your acct details, including contact info, are current.

Identity Verification: Applicants must verify their identity using S'pore’s Face Recognition software integrated into the form.

Receive Funds: Upon successful registration, the withdrawn funds will be deposited through PayNow or direct transfer within a few weeks.

[pinkypanther]

https://tinyurl.com/22un6ju4

[victortan]

So how about me? I have passed 64, 69, means I am expired talent?

i am 73.. so i nobody worker, become toilet cleaner.. kindly dont dirty my mrt toilet.

aim properly folk,, dont look at yr iphone and urine at the wrong place. ty for yr cooperation in advance.. yahumdulilah and yamen to all holyman.

[sclim]

many already out of permanent jobs since 40+. raising retirement age will benefits those who has good employers.
especially government and related org.
as long no delay cpf life draw age.
keep inflation under control. not those reported by cpi.
a need for cook food price index

[Tee tiong huat]

CPF interest rates for 2024, including the maximum contribution, withdrawal process, & minimum & maximum sum limits. S'pore Govt has made saving for retirement simpler. CPF interest rates have been updated to benefit public. Read on for a detailed overview of CPF interest rates for 2024.

SGD...Angpao...

[EvertonDiehard]

i am 73.. so i nobody worker, become toilet cleaner.. kindly dont dirty my mrt toilet. aim properly folk,, dont look at yr iphone and urine at the wrong place. ty for yr cooperation in advance.. yahumdulilah and yamen to all holyman.

Your aim is to keep the toilet clean, the aim of the men there will help.

[EvertonDiehard]

As long as there are no specific anti-discrimination laws in place, competent older workers are not receiving adequate protection from discrimination based on their age rather than their ability; those affected by forced lay-offs will consider making official complaints nothing but a waste of time. Changes to the Retirement and Re-employment Act represent official acknowledgement that most current white collar work is knowledge or technology based. Employees are theoretically able to continue their careers well into their sixties. 

[Tee tiong huat]

Best to walk exercise sweat👏
*Did you know ?*

▪️Both  the  legs together  have  50%  of the  nerves    of  the  human  body,  50%  of  the  blood  vessels  and  50%  of  the  blood  is flowing  through  them.
*Walk*

▪️ It  is  the  largest  circulatory  network  that connects  the  body.
*So Walk daily*

▪️Only when  the feet are  healthy then  the convention current  of blood  flows ,  smoothly,  so people who  have  strong  leg muscles  will  definitely have  a strong  heart. *Walk*

▪️Aging  starts  from  the  feet  upwards.
*Walk*

▪️As  a  person  gets older, the  accuracy & speed  of  transmission  of instructions  between the  brain and  the  legs decreases, unlike  when a  person  is  young.
*Please Walk*

▪️In  addition,  the  so-called  Bone  Fertilizer Calcium will  sooner  or later  be  lost  with  the passage  of  time,  making  the  elderly  more  prone  to  bone fractures.
*WALK*

▪️Bone  fractures  in  the  elderly  can  easily  trigger  a  series  of complications, especially fatal  diseases  such  as  brain  thrombosis.
*Walk*

▪️Do  you  know  that 15% of elderly  patients  generally, will  die  max. within  a  year  of  a  thigh-bone  fracture !! 
*Walk daily without fail*

▪️Exercising legs is never too late, even  after age for eg: from young to old years.
*W A L K*

▪️Although our feet/legs will gradually age with    time, exercising our feet/legs is a life-long task. 
*Walk 10,000 steps is oneself can try*

▪️Only by regular strengthening the legs, one  can  prevent or reduce further aging. 
*Walk 365 days*

▪️Must walk for at least 30-40 minutes daily to ensure two for yours legs receive sufficient  exercise to ensure leg muscles remain healthy.
*KEEP WALKING*

You should share this important info with all  your young years" to friends & family members, as everyone is aging on daily basis.

User can collect dividend allocated as a fixed amount per share, with shareholders receiving a dividend in proportion to their shareholding. 

Dividends can provide at least temporarily stable income you can collect and raise morale among shareholders, if one can hold...

[EvertonDiehard]

https://tinyurl.com/22un6ju4

The ruling party believes that throwing money at the problem will make it go away. 

[Tee tiong huat]

User can collect dividend allocated as a fixed amount per share, with shareholders receiving a dividend in proportion to their shareholding. 

Dividends can provide at least temporarily stable income you can collect and raise morale among shareholders, if one can hold...

[Alice Alicia]

Pap millionaire ministers are hoping they can work forever.

[Huliwang]

Funny thing is sinkees are all so quiet. Other countries would at least see some debates and objections in parliament by oppositions or big gathering of protestors on the streets.     

[EvertonDiehard]

Pap millionaire ministers are hoping they can work forever.

Our Ministers (mini-stars) are the only people in S'pore who decide when to retire. Even CEOs like Dr Tan See Leng had to stepdown at IHH when he overstayed his welcome there.

[Tee tiong huat]

Pap millionaire ministers are hoping they can work forever.

It  is  the  largest  circulatory  network  that connects  the  body.
*So Walk daily*

▪️Only when  the feet are  healthy then  the convention current  of blood  flows ,  smoothly,  so people who  have  strong  leg muscles  will  definitely have  a strong  heart. *Walk*

▪️Aging  starts  from  the  feet  upwards.
*Walk* .....✓Then!.  So!. User can collect dividend allocated as a fixed amount per share, with shareholders receiving a dividend in proportion to their shareholding. Should if
dividends can provide at least temporarily stable income to oneself then can collect and raise morale among shareholders, if one can hold to old age.......

[Tee tiong huat]

Funny thing is sinkees are all so quiet. Other countries would at least see some debates and objections in parliament by oppositions or big gathering of protestors on the streets.     

Busy Counting Money$ lehh.

[Tee tiong huat]

Our Ministers (mini-stars) are the only people in S'pore who decide when to retire. Even CEOs like Dr Tan See Leng had to stepdown at IHH when he overstayed his welcome there.

He is Huating Lehh..,

[Tee tiong huat]

The ruling party believes that throwing money at the problem will make it go away. 

We need a reflective reflection then can lahh.

[Reddishday]

https://www.sammyboy.com/threads/extreme...ram.377507

[[[ForeverAlone]]]

Actually is 70 rah , This LHL got mention in one National Day Rally before and claim you all elderly LOVE TO WORK TILL 70 or even beyond.

[Lukongsimi]

Since you are still writing on SG Talk, it shows that you haven't expired yet.

There is no retirement age limit in forums lol

[EvertonDiehard]

What is the use of extending the retirement age to 64 when many white collar S'poreans will lose their PME jobs to foreigners by their 40s or even earlier? Those who are laid off after 50 have fallen over the cliff, and will either be underemployed or unemployed thereafter.

[Ola]

Extending the retirement age to 65 will make a lot Singaporeans HAPPY and vote for PAP

Just use your brain and think about it, imagine you are a senior specialist with NUS earning $60K to $100K a month

Or an old fcuk, whatever your pay, working for the government

With no fear of retrenchment

I didn't know your meningses tumour can cause stupidity

No need Retirement Age and thousands of doctors & nurses already 

work past 60 and 65 70 Years- old but you still "Everything Don't Know"

You live in Malaysian, arh?

[Tee tiong huat]

Special Account for people aged 55 above will be closed from the second half of January 2025, one of a slew of changes in the Central Provident Fund (CPF) system in the new year.

Other changes include increases in the enhanced retirement sum & CPF contributions for platform workers, & a higher CPF monthly salary ceiling to keep pace with rising wages.

From the second half of January, savings in the Special Account of affected CPF members will be transferred to the Retirement Account, up to the cohort’s full retirement sum.

Any remaining Special Account savings will be transferred to their Ordinary Account. Members have the flexibility to withdraw the money when needed or transfer it to their Retirement Account, up to the enhanced retirement sum.

“The principle behind the closure of the Special Account for members aged 55 and above is to right-site CPF savings, such that only CPF savings committed towards long-term retirement needs earn the higher long-term interest rate,” the CPF Board said on Dec 16.

Funds in the Retirement Account will continue to earn the higher long-term interest rate (floor rate of 4 per cent per annum) & receive higher monthly payouts in retirement, it added.

[Tee tiong huat]

https://tnp.straitstimes.com/news/singap...-and-above

[Tee tiong huat]

https://tnp.straitstimes.com/news/singap...-and-above

CPF Special Account is closing soon, what can we do...?.

[Tangsen]

I am OK if PAP wants to raise the Retirement Age

But make sure that from 01 SEPT 2023 onwards,

there is no S-Pass nor EP for

1) Non- TECH jobs
2) And Foreign MNCs keep to 50% Citizenship Ratio
3) Old Folks do not do dangerous or dirty jobs ie cleaners

Like that SG will collapse ... no more CDC vouchers liow

[Ola]

Wah Phiang! This Retirement Age is meant for FTs

so that Citizens retire at home at 45 years old

[Tee tiong huat]

So how about me? I have passed 64, 69, means I am expired talent?

https://youtu.be/s-FWBJ2E_Y8?si=zdz2anQd7xL6UTzF