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Do the recent CPF tweaks help you achieve retirement adequacy?

So Sin Ting for Endowus
So Sin Ting for Endowus1/20/2022 10:11 AM GMT+08  • 6 min read
Do the recent CPF tweaks help you achieve retirement adequacy?
In a nutshell, it is possible for everyone to achieve their retirement savings goals. Here's why.
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In a nutshell, it is possible for everyone to achieve their retirement savings goals with higher retirement and re-employment ages, increased CPF contributions and tax reliefs for making voluntary CPF top-ups

The CPF Board’s most recent announcement on CPF tweaks — paired with its June announcement that the CPF contribution rate for older workers will be increased by 2 percentage points (for workers aged 55 to 65) and 1.5 percentage points (for workers aged 65 to 70) starting in January 2022 — means Singaporeans have more time and incentive to plan, invest and grow their retirement savings.

But as always, the biggest question pertaining to CPF policy changes is whether it will be enough to help Singaporeans with their retirement.

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