The latest changes to the CPF scheme announced in Budget 2024 raised concerns about the potential impact on retirement planning – specifically, the closure of the CPF Special Account. How will these changes affect your nest egg?
We speak to Alvin Chow, CEO of financial education platform Dr Wealth.
An elderly couple cross the road in Toa Payoh on Feb 8, 2024. Central Provident Fund (CPF) members aged at least 55 will no longer have a Special Account from 2025 onwards, but they will be able to put more money into their Retirement Accounts. (File photo: CNA/Jeremy Long)
Jump to these key moments:
Find more episodes of Money Talks here.
A new episode of Money Talks drops every Tuesday. Follow the podcast on Apple or Spotify for the latest updates.
Have a great topic for us? Drop the team an email at cnapodcasts [at] mediacorp.com.sg
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We speak to Alvin Chow, CEO of financial education platform Dr Wealth.
An elderly couple cross the road in Toa Payoh on Feb 8, 2024. Central Provident Fund (CPF) members aged at least 55 will no longer have a Special Account from 2025 onwards, but they will be able to put more money into their Retirement Accounts. (File photo: CNA/Jeremy Long)
Jump to these key moments:
- 1:35 Flight ticket prices rise, Ringgit falls
- 7:10 Breaking down CPF Ordinary and Special Accounts
- 11:43 Impact on retirement payouts
- 19:04 How should Singaporeans in their 40s prepare?
- 21:00 Should we still invest our CPF?
- 22:56 Different views on CPF
Find more episodes of Money Talks here.
A new episode of Money Talks drops every Tuesday. Follow the podcast on Apple or Spotify for the latest updates.
Have a great topic for us? Drop the team an email at cnapodcasts [at] mediacorp.com.sg
Continue reading...