How do I fund my retirement?

Preparing for my retirement is crucial because despite the good economy in Singapore, money is not easy to come by. What should I do to fund my retirement and where does the funds go to? How much do I get from the Central Provident Funds when I reach the age of 55? When and how much can I withdraw from my accounts?

  • user image

    No Name

    If you are a Singaporean, you and your employer make monthly contributions. These contributions are spread among three accounts which are Ordinary, Special and MediSave accounts. The Ordinary accounts are for reirement and housing, Specials accounts are for retirement purposes only and MediSave accounts are for healthcare purposes. The Basic Retirement Sum will be made known to you ahead of time and you can withdraw the first $5,000 of your Ordinary and Special Account savings even if you do not meet your Basic Retirement Sum at age 55.

    2020.03.24 15:44

    Please leave your knowledge and opinion!

    Related Forums

    What are the different types of Visa in Singapore?

    How long am I only supposed to work if I am covered by the employment act?

    What are the types of claims?

    What are the common Employment practices in Singapore?

    Am I entitled to public holidays?

    An agency I applied for is a fraud.