Dr Tan See Leng clarifies on CPF Life and CPF contribution for EP and EntrePass holders
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Published: 29 July 2021
Dr Tan shared that among existing options to plan for higher retirement payouts, members can choose to defer the start of their payouts till age 70, when it comes to the CPF Life scheme.
Singaporeans are already presented with many options to plan for higher retirement payouts, in and out of the CPF system, Minister for Manpower Dr Tan See Leng has clarified.
"Within the CPF system, members who wish to have higher CPF LIFE payouts can set aside an Enhanced Retirement Sum, which is triple of the Basic Retirement Sum. The prevailing Enhanced Retirement Sum is currently $279,000. The Enhanced Retirement Sum is revised annually, together with the Basic and Full Retirement Sums," he said.