How do I maximize and grow my CPF for retirement?
Paying for CPF contributions has will always be a part of the life of Singaporeans and PR's. With this being established, I want to make the most of my CPF savings for my retirement. While the limitation of your CPF savings is that you can only withdraw it when you reach 55 years of age, the upside is that you’re putting your money in a effectively risk-free AAA-rated investment that pays you 4% returns annually
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You can transfer from ordinary to special account. The CPF Ordinary Account (OA) pays you 2.5% interest annually, while your CPF Special Account (SA) pays you 4%. Pay your mortgage in cash. One advantage is that you can treat the money in your OA as an emergency fund If you end up never using the money, it will compound at 2.5% interest and buffer your retirement fund. Opt to top up your special and medisave account.