pThe 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.
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.You might have heard of the 'Magnificent 7' - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.
Sim Yong Han, senior financial consultant of Trust Advisors Group at SG Alliance, provides some practical tips.Picking the right bank isn’t as straightforward these days. Beyond finding a reputable name to park your savings in, banks are also aggressively wooing customers with investment products, higher interest rates and customised financial planning. Prashant Aggarwal, CEO of the MoneyHero Group, guides Andrea Heng on how to choose the right bank for your needs.
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Budget 2024: CPF Special Account closure at age 55 removes overlap, stops 'shielding' hackRemoving the Central Provident Fund (CPF) Special Account for those aged 55 and above will "tidy up" the system and also shut down a little-used "shielding" hack that allowed some CPF members to earn a higher interest, financial experts said.
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Budget 2024 debate: MPs ask to relook CPF interest rates, housing affordability to help Singaporeans reach retirement adequacyThe recent announcement to close the Central Provident Fund (CPF) Special Account of those aged 55 has put the spotlight again on retirement adequacy, with Members of Parliament (MPs) asking that more support be given to people who are already retired as well as working Singaporeans building their nest eggs.
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Explainer: Why is interest on Retirement Accounts not accrued once CPF Life payouts start, and how much will your family get when you die?SINGAPORE — A recent parliamentary debate has thrust the Central Provident Fund (CPF) Life annuity scheme under the spotlight, with one Member of Parliament (MP) highlighting that when CPF members under the scheme die, the interest earned in their Retirement Accounts do not go to their beneficiaries.
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Fun With Kids: Free workshops at Children’s Biodiversity Library, travel scrapbookMake family time all the more special with these ideas and activities.
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Israel Frees Hostages in Special Forces Operation Amid Air StrikesIsrael launched a special forces operation that freed two Israeli hostages in Rafah amid air strikes early on Feb 12, which local health officials said killed 37 people and wounded dozens in the southern Gaza city.
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Seedy shops offering "special" massages in People's Park CentrePeople's Park Centre in Chinatown is apparently seedy, with a number of its shops offering "special" massages. Shin Min Daily News was tipped off by a 55-year-old reader who said she often saw scantily-clad women at the third floor of the mall approach men who walked past their shops. A 32-year-old man the Chinese daily spoke to said he knew at least one shop on that floor offered "special" services.
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