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Retirement Sum Scheme payouts capped at age 90

Change follows feedback from members that payout duration up till age 95 was too long

Janice Heng

Janice Heng

Published Mon, Nov 4, 2019 · 09:50 PM
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Singapore

CENTRAL Provident Fund (CPF) payouts under the Retirement Sum Scheme (RSS) will now last up till the age of 90 at most, down from 95 previously, Manpower Minister Josephine Teo said in Parliament on Monday.

The move will allow for higher payouts for some, while no one will see their payouts reduced, she stressed.

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