This is a discussion on CPF Minimum sum up July 1 within the Local & Foreign Issues forum, part of the Community Lounge category; CPF Minimum sum up July 1 "THE prevailing CPF Minimum Sum (MS) will be raised to $123,000 from $117,000 from ...
CPF Minimum sum up July 1
"THE prevailing CPF Minimum Sum (MS) will be raised to $123,000 from $117,000 from July 1, as part of move to ensure that Singaporeans save up enough for their retirement, the Central Provident Fund Board announced on Friday.
The new Minimum Sum will apply to CPF members who turn 55 from July 1 this year to June 30 next year, said a statement from the CPF Board.
Members who can set aside the full MS will receive about $1,100 per month when they reach their draw down age of 65."
If dont have Minimum Sum how? Cannot withdraw at age 65??
Keep increasing the amount... how to meet target?