You will be be redirected to the blog in a moment...
Or you can click the link below to proceed:
Can you really retire with CPF?
Speaking about retirement. In US, they have Social Security. In Singapore, we have CPF. Most Americans have no faith in Social Security, with young adults today believing there won’t be any money left by the time they retire. The average Singaporeans trust the Government has planned for their retirement, and has it covered through the CPF scheme. Now the good thing about Americans being skeptical about no retirement money coming from Social Security, is some of them are slowly socking away money into their own personal retirement plans like 401(k) and Roth IRA. The bad thing about Singaporeans thinking CPF is sufficient, is that aside from the compulsory 20% CPF contributions each month, few are putting aside additional funds in their own retirement plans. Recent CPF Trend reports that only about 33.8% of Singaporeans aged 55 met the minimum sum requirement of $106k. According to CPF Life, with minimum sum in 2023, one can expect $570-$620/mth on a Life balanced Plan. Taking into account
Want to be redirected immediately?
Register yourself at Ping.sg to get rid of this page and also to get your read counted as Pong.