It is a Chinese tradition for married children to give their parents an ‘ang pow’, or a gift of red-packet containing money, during the Lunar New Year festival. This year, the Central Provident Board (CPF Board) is asking you to consider not giving your parents an actual ‘ang pow’, but to consider putting money into their CPF accounts.
In a Facebook post the Board said, “this Chinese New year, give your parents an Ang Pow that grows bigger every year. Consider making a Voluntary Contribution to build their CPF savings, allowing them to enjoy a secure and worry-free retirement”.
“With high interest rates on their CPF accounts, their money will grow much faster than a typical Ang Pow,” it added.
The post went on to list w ways you may make voluntary contributions to your parents’ CPF accounts.
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