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SENSE & CENTS

How to work your CPF savings harder to fight inflation

Withdrawing CPF savings to indulge is alluring. But many of us should be financially prudent as we could live to ripe old ages

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Leslie Yee

Leslie Yee

Published Tue, Nov 14, 2023 · 01:51 PM
    • As we live longer and inflation stays high, one may need to work one's CPF savings harder.
    • As we live longer and inflation stays high, one may need to work one's CPF savings harder. PHOTO: BT FILE

    I TURN 55 soon. Fortunately, 55 is not the retirement age in Singapore. 

    Currently, I am happy writing and podcasting, as well as doing ad-hoc projects. I hope to be gainfully employed for many more years.

    Still, turning 55 marks a milestone when it comes to one’s Central Provident Fund (CPF) savings. Upon turning 55, you set up your Retirement Account (RA), which is funded by savings from the Special Account (SA) and Ordinary Account (OA). 

    Sense & CentsCPFRetirementInflationpersonal financeSpotlight

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