What happened?
Retirement adequacy has, therefore, become a more pressing concern for Singaporeans. The key question that many ask is – how much is sufficient for retirement? Is S$550,000 enough, or should you accumulate S$1 million or more? Here’s where the Central Provident Fund (CPF) comes in. CPF plays a key role in helping Singaporeans to save and grow their retirement funds. Let’s explore how we can make use of your CPF to maximise our retirement adequacy and ensure that we have enough to live on during your golden years.
How to grow your CPF for retirement adequacy?
There are a few ways to grow our retirement savings using CPF, including the following: Contributing towards CPFSaving more with CPFEarning higher returns on your CPF savings
#1 – Contributing towards CPF
First off, let’s start with a basic understanding of how the CPF scheme works. From the day you begin full-time…
