Money Talks Podcast: CPF Special Account closure - How it will affect you
Central Provident Fund (CPF) members aged 55 and above will no longer have a Special Account from 2025. How will this affect your retirement savings?
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The latest changes to the CPF scheme announced in Budget 2024 raised concerns about the potential impact on retirement planning – specifically, the closure of the CPF Special Account. How will these changes affect your nest egg?Â
We speak to Alvin Chow, CEO of financial education platform Dr Wealth.
At the end of the day, (CPF scheme) is still (an) important retirement system for every Singaporean. So make a point to try to learn as many of the rules that (are) applicable to you as much as possible.
Jump to these key moments:Â
- 1:35Â Flight ticket prices rise, Ringgit falls Â
- 7:10Â Breaking down CPF Ordinary and Special AccountsÂ
- 11:43 Impact on retirement payoutsÂ
- 19:04 How should Singaporeans in their 40s prepare? Â Â
- 21:00 Should we still invest our CPF?
- 22:56 Different views on CPFÂ
Source: CNA/jj
