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Budget 2024: CPF Special Account to close for people
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Budget 2024: CPF Special Account to close for people aged 55 and above
#Budget #CPF #Special #Account #close #people
“CNA”
The CPF contribution rates for those aged 55 to 65 will increase by a further 1.5 percentage points in 2025, announced Deputy Prime Minister and Finance Minister Lawrence Wong in his #Budget2024 speech on Friday (Feb 16). He also announced an increase in the Enhanced Retirement Sum from next…
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I am a singaporean age 48, i was thinking why would they stop the special account? I also workers party would bring up this matter in the next election
If you really want to help people especially this above 55 to retire with better financial, wouldn't it be better to have the SA as it has better interest than OA. It can be redrawn in full as when needed unlike RA.
I guess, finally there are not enough younger generations to put money in for the older generation. Ponzi…
55岁拿了最基本的$5000，下次到65岁才能RA户口中每月领取，开玩笑？，那$5000可得分十年省省喔！怎没有提醒那些只能领$5000的同胞，这笔錢每个月只能按100元耒用，十年刚刚好！明白嗎？别老想退休啦！带老婆一生人一次去出国啦！很多不知道要这样分配才够用！继续努力的工作，顶到65岁！
We have to support the opposition to one third of the parliament so that they cannot do as they like and a tri power sharing, a elected parliament, a elected president and a elected chief judge.
BANZAI !!!
Where will the money inside the CPF SA Account now go to after its closure?
DPM Lawrence Wong once mentioned about our HDB flats 99 year leasehold and it affected the value price immly – his mouth very suey. Now he decided Year 2025 those 55 and above will have their SA clozed. He just want people to transfer to RA to top up to ERS. Not everybody is aware once our money is transferred to RA at age 55, at that point the 4% interest earned goes into a common pool, and so if member pass on, the money in his RA gets disbursed to his nominated beneficiary but not the 4% interest earned in the RA. So not worth to top up to ERS, if can meet the FRS will do. So if at any mth the small payout is not enough, at least still can have some money a member can withdraw fm his OA. It is terrible to live on a tight string. Of course all our filthy rich Ministers don't know how it feels like.
Even lee hsien LOONG grand son become the prime minister we can't recover the lost so don't bother the SA OR RA OR MEDISAVE EVEN COFFIN WE CAN'T BUY
No different u close S A CPF ACC AMYWAY WE GET FROM CPF THIS IS NEW WAY TO ROB POOR MAN LIKE ME
After 60, withdraw your CPF to buy a condo in Forest City Johor. This is how Tan Kim Lian did it
Suck in more money of course get higher payout, is this what world class PAP can contribute.
Why pension funds from other countries can give higher interest but PAP can't.
Hope this would affect PAP votes.
They are very desperate, why? Need to buy more arms
The 4+% earned in retirement account is not withdrawable when you pass on. CPF will only refund the remaining premium to your beneficiaries. Does not make sense to put so much money there. How is govt protecting seniors who are vulnerable to scams and may not be savy in investing. They are now forced to find alternatives due to this sudden policy change. Disappointment.
For hospitalise fees so not to those going "away" or enjoyed before go away
Why close the special account
they finally do math SA 4.08% haha its the highest interest rate …. they figure out they cant payout people when they WITHDRAW
Nope im not stupid to transfer my OA to RA when im 55 just FRS will do
As the saying goes: the people like to choose the pap party so let the people suffer more and more ..
But the long term interest rate in RA will not belongs to individual cpf holder? They will be use to fund others in the insurance…
smart move taking money from policy holder to fund others leaving no benefiys to the cpf holder….
why policy keep changing, some of us cpf shielding transferring in and out already loss some cash. Expecting it to churn some profit back but not instead no more SA? Higher ERS means more $ lock up to the government! Where got take care of older generation?
I still hope the Gov will reconsider letting SA stay but put a cap on the amount of money we can have in SA account (like Medisave).The excess to overflow into OA. At least the less financial literate seniors still have a safer place to park their emergency funds while earning some decent intetest.
Money all stuck into ra a/c…
Should have allowed SA to be able to fill up to ERS amount too and not wait till 55 than make us to transfer from OA to RA till ERS.
It times for PAP changes this kind of stupud formula.
Not everyones eho live in d 5 rooms are well off. We seniors with NO CHOICE because when we biught it our children are young n not working.
DYM shall use the term " we" rather than "I", as he is making thia statement on behalf of the government…not himself.
Hope Workers Party can bring up this issue during upcoming elections. If they can promise to restore SA for Singaporeans, I will support !!
Ha@ Ha@ I m 62 years old, when 40 years ago, our Snr.Lee promised us when we get 55 we get our CPF .And nowadays, the CPF – RA rising up to 400K , currently , we are older and paid at only 1k/ month . How to cope the RA ???
And why not the 4k of skills further directly top up in our RA for 55 and above ?
Speaking London dewan rakyat.i am English teacher but I object for dewan rakyat not debating in national language.look arrogant and silly for speaking London in dewan rakyat.
They are controlling our money, our hard earn money is nothing to be proud off
If you have extra money, consider saving it in USD FD for a higher interest rate.