Tag: CPF

Budget 2020: Increases to CPF contribution rates for older workers to come, but CPF Transition Offset to help

CPF contribution rates for older workers will be raised over the next decade or so, in order that the full rate of 37 per cent is extended to those aged up to 60. But in the meantime DPM Heng has introduced the CPF Transition...

Janil Puthucheary: Online publishers should use their real names

Singapore – On February 3, Monday, Senior Minister of State for Communications & Information Janil Puthucheary received backlash from the online community for stating that government agencies sometimes had to disclose personal information of a complainant to "maintain public trust and serve all citizens...

CPF members can go online to nominate their beneficiaries

Singapore — CPF members can nominate their beneficiaries online, for more convenience and better privacy protection, the Central Provident Fund Board (CPF) said  on Wednesday (Jan 22). It said: "Under the hard copy process, details of the nomination, such as who the nominees are and the...

Gov’t: Release of sick woman’s info was in the interest of the public

Singapore — The Smart Nation and Digital Government Office (SNDGO) released a statement on Friday (Dec 27), saying that the Government published information regarding a sick woman who applied to use the funds in her Central Provident Fund (CPF) savings as it deemed that...

CPF Board, other gov’t agencies, clarify matter concerning woman whose application for withdrawal of funds was denied

Singapore — The Central Provident Fund (CPF) Board, Housing & Development Board, Ministry of Education, Ministry of Health, and Ministry of Social and Family Development issued a joint statement on its Facebook account to clarify an article featured in The Online Citizen (TOC) concerning a...

S$1.6 billion added to CPF retirement funds from January to October of this year

Singapore—According to a statement from the Central Provident Fund Board on Thursday, November 28, Singaporeans are adding to more their retirement funds, with almost S$1.6 billion in total added under the Retirement Sum Topping-Up Scheme between January and October of this year, the Straits...

SDP urges Govt to “return hard-earned CPF savings to retirees who need the money to survive”

The Singapore Democratic Party has urged the Government to return the Central Provident Fund (CPF) savings to retirees who need the money to survive, instead of raising the basic retirement sum. The SDP's call comes after Manpower Minister Josephine Teo hinted that the CPF basic retirement...

Josephine Teo: CPF Board looking at electronic nominations for CPF beneficiaries to prevent unclaimed funds

Singapore—In Parliament on Monday, November 4, Manpower Minister Josephine Teo said that the CPF Board is looking at the possibility of electronically electing a CPF beneficiary. This could be in place as early as next March. It was reported on October 21 that the Insolvency...

CPF explains why 72-yr-old only gets a monthly payout of S$575

A 72-year-old CPF payee recently became a Grab driver, and shared on Facebook to the whole world how a measly S$575 monthly payout made his existence difficult to bear. As expected, the FB post went viral prompting the CPF Board to respond quickly. According to the...

Study: Singapore among top countries with best pension system in the world

Preparing your retirement plans? According to a recently published study by the Monash Centre for Financial Studies, Singapore is part of the top 10 countries with the best pension systems in the world for 2019. The Melbourne Mercer Global Pensions Index considered adequacy, sustainability and...