Workers' Party calls for CPF payout age to be lowered to 60
Its MPs suggest that payout-eligibility age be de-linked from retirement age and re-employment age
Singapore
THE opposition Workers' Party (WP) on Tuesday reiterated its call to allow Central Provident Fund (CPF) members the option of receiving monthly payouts from a younger age.
Lowering the payout-eligibility age to 60, it said, would provide greater flexibility for those who want their payouts earlier, rather than wait until they turn 64 or older.
Speaking on the first day of the budget debate in parliament, non-constituency Member of Parliament Gerald Giam noted that the monthly payouts now start at age 64, up from 63 last year, and that the payout age would be raised again to 65 in 2018.
He said some people may have "genuine reasons" to want their payouts to start earlier; they may have been ret…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Hong Kong crypto ETF launches will test ambition to be digital-asset hub
UK pay settlements edge lower in first quarter: industry survey
Trump jury told how publisher buried negative press
Sunak says UK to raise defence spending amid global threats
China’s central bank hints it may add treasury bond trades to policy toolkit
US business activity cools in April; inflation measures mixed