Are your Central Provident Fund (CPF) savings enough for retirement? For better or worse, many a financial product has been sold to Singaporeans who grapple with this question and suspect they may need more retirement income.
Budget 2024 has taken a major step to alleviate the retirement worries of those who have significant CPF savings. It has raised the highest retirement payout tier so that people can get more income in their golden years. The problem is that a majority of Singaporeans don’t have such a large CPF nest egg in the first place.
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