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The Central Provident Fund (CPF) is super important for retirement planning in Singapore, but a lot of folks don’t make the most of it. With some big changes coming to the CPF Special Account in 2025, it’s time to think about how you manage your CPF. The biggest change? CPF Special Account will be closed when you hit age 55, and the balance will be transferred to your CPF Ordinary Account (OA), after setting enough for a Full Retirement Sum. Sounds confusing? Read this update: CPF Special Account Closure: Navigating the New CPF Landscape. In a nutshell, you’ll likely have more money in your OA than you expected when you turn 55. And this may not be what you wanted. Why? Let’s dive into what this means and what you can do.
CPF Shielding and Interest Rate
The CPF Board provides an almost guaranteed interest rate for your savings, which…
