JUST over half of CPF members who withdraw their CPF savings park the funds in savings accounts and finance companies, a CPF Trends study has found.
Some 27 per cent use the funds for household expenses, and 13 per cent use it to pay off loans.
The CPF Trends study draws data from the Retirement and Health Study (RHS), a longitudinal survey of Singapore residents' retirement and healthcare needs, and how these have changed over time.
In the RHS, respondents are asked if they made cash withdrawals from...
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