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Cpfb Rfm  Form

Cpfb Rfm Form

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changes to the cpf system were announced at budget 2024 the one that got people talking the decision to close the special account of those aged 55 and above from 2025 today those aged 55 and up have two cpf accounts that hold savings intended for retirement payouts the special account and the retirement account while both earn the same long-term interest rate about 4% perom before extra interest on the first $660,000 a portion of sa savings can be withdrawn from the age of 55 whereas ra savings will be used to provide monthly retirement payouts what happens next with the closure of SE when the sa is closed Savings in that account will be transferred to the ra up to the full retirement sum the F FRS is a point of reference for how much one needs in retirement remaining sa funds will then be channeled to the ordinary account now for those still working the share of their cpf contributions which would normally go into the sa will go into the ra instead how will this closure affect you tho

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