The recent CPF Special Account closure has significant implications for approximately 1.4 million CPF members aged 55 and above.As of January 19, 2025, these members no longer maintain a Special Account, as the CPF Board has streamlined their account structure to include an Ordinary Account (OA) and a Retirement Account (RA).
enhanced retirement sum
Singapore CPF Special Account Closure and Retirement Options
The recent closure of the Singapore CPF Special Account marks a significant shift for approximately 1.4 million CPF members aged 55 and above, as this change aims to enhance CPF retirement support in the nation.Announced during Budget 2024, the closure facilitates the transfer of funds to members’ Retirement Accounts, ensuring that their retirement savings in Singapore continue to grow effectively.
Singapore CPF Changes 2025: Important Updates Revealed
Significant changes are coming to Singapore CPF changes 2025, marking a pivotal moment for members aged 55 and above.The CPF Board updates include the notable closure of the Special Account, impacting approximately 1.4 million individuals.
Retirement Planning: New Year Resolution for 2025
Retirement planning is a crucial aspect of securing your financial future, especially with the recent CPF changes 2025 that can significantly impact your savings strategy.As we step into the new year, making retirement planning a top priority could be your best New Year resolution yet.
CPF Life Scheme: Maximize Your Retirement Payouts
The CPF Life scheme is an essential component of retirement planning for Singaporeans, ensuring financial security in their golden years.As individuals approach the age of 55, the closure of the CPF Special Account presents a pivotal opportunity to optimize their retirement savings Singapore by contributing to this scheme.