In order to cope with rising living costs, an increasing number of elderly Singaporeans have resorted to making a return to the workforce at an age when many would like to retire comfortably. Reuters reported on Monday (4 Feb) that "the employment rate for people over 65 have jumped over 15 percent in the past decade. Some of them say …Read More »
Singaporean ethnic minorities getting the short end of the stick due to raised age limit for CPF withdrawal eligibility?
Just last month, a TOC reader revealed that the Central Provident Fund (CPF) had written to him, reminding him to "either apply for a monthly retirement payout at 65 years old, or delay it to 70 years old for a better payout sum". Mr Zol added that while he was not surprised by the letter "as it had been reported in the …Read More »
A CPF member who would be turning 65 in May this year, recently received a mail from the CPF Board. It informed him that he would be eligible to receive S$250 per month for about the next 8 years when he hit 65. It also enticed him saying that he can get higher payouts if he delays the start of …Read More »