Managing CPF Savings For Your Retirement

For Singaporean and PRs. Understand your CPF accounts and the changes at age 55. Learn about Minimum Sum and CPF Life.
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  • Lectures 17
  • Length 1 hour
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
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About This Course

Published 10/2013 English

Course Description

This course is meant for Singaporean and Permanent Residents.

This course will help you understand how you can manage your CPF accounts to meet your retirement needs. CPF stands for Central Provident Fund. The Central Provident Fund (CPF) was introduced in Singapore in 1955. It is a compulsory savings scheme which ensured that workers could support themselves with dignity in retirement.

The following topics will be covered:

  • How CPF schemes fit into your retirement plan
  • Challenges ahead
  • CPF insurance schemes
  • Life and Health Insurance Planning
  • Your CPF Accounts explained
  • Important Figures - Minimum Sum, Medisave Required Amount, Medisave Minimum Sum
  • Case Studies
  • CPF Investment Schemes (CPFIS)
  • Your Child's CPF Education Loan
  • Sales of properties bought using CPF after age 55
  • Working after and 55 and the corresponding CPF rates
  • Draw Down Age
  • CPF LIFE Plans

What are the requirements?

  • nil

What am I going to get from this course?

  • To better understand how to prepare for retirement in Singapore
  • To understand and manage CPF money for your retirement

Who is the target audience?

  • working adults

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
01:33

In this Lecture, find out more about MoneySENSE's core financial capabilities:

  • Understanding Money
  • Understanding yourself, your rights and responsibilities
  • Managing everyday money
  • Planning ahead
  • Selecting financial products
00:38

This intro video covers the main objectives of this module.

Take note that this module is the third module in the series of retirement planning. The first two modules are:

  1. Basic Steps In Retirement Planning
  2. Constructing Your Retirement Plan
Section 2: Retirement Account From Age 55
03:37

CPF is a compulsory savings scheme started in 1955 to help workers take care of themselves in their old age. In the larger scheme of one's retirement, it should constitute income to meet just the basic needs.

Longer life expectancy and higher health care costs due to illness and disability can deplete retirement savings quickly, having adequate health insurance is neccesary to counter such risks.

We shall consider the CPF Life and Health Insurance schemes that are available in Singapore. Careful planning to sustain premiums for various types of health insurance throughout retirement is as important as taking up cover early when one is insurable.

06:54

In this lecture, we look at the various Retirement Sum options available.

00:45

In this lecture, we look at the various Retirement Sums for those reaching 55 from 2003 to 2017

04:27

In this lecture, we look at:

  • CPF Investment and Education Loan after 55
  • Sale of Property after 55
  • Property Pledge
01:59

In this lecture, we look at the various details of the CPF LIFE scheme.

04:53

This lecture compares between the standard and basic CPF LIFE plans.

01:57

In this lecture, we consider the topic of CPF Nominations.

01:39

In this lecture, we consider the various options related to CPF LIFE.

01:38

In this lecture, we look at future CPF Schemes in Singapore.

05:55

In this lecture, we look at various ways of boosting your retirement savings.

05:46

We present 3 case studies and various options that can be considered.

Section 3: Conclusion
01:37

Before investing your CPF money, do consider the fact that many CPF investors end up getting their fingers burnt.

http://www.straitstimes.com/singapore/many-cpf-investors-get-their-fingers-burnt

00:32

In this lecture, we conclude the module Managing CPF Money For Your Retirement.

00:31

This lecture contains links to additional resources where you can learn more about money matters pertaining specially to Singaporeans.

CPF Life is .......
4 questions
01:12

This is a summary of this module.

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Instructor Biography

Peggy Chan, Financial Literacy Trainer

Peggy Chan, Financial Literacy Trainer, Institute for Financial Literacy

MSc, CFP

Peggy has 8 years of experience in the financial services industry, helping clients understand their financial needs, objectives and risk tolerance as well as reviewing company policies and procedures to ensure compliance. She was also an adjunct lecturer with a Polytechnic, teaching insurance and retirement planning subjects.

Prior to joining the financial services sector, Peggy was working in the information technology sector for 13 years, first in a government agency and subsequently served as a Senior Systems Analyst in an international bank.

She is a Certified Financial Planner, which is a professional certification specific to retirement planning and wealth accumulation in addition to overall financial planning.

Peggy has a Masters of Science, majoring in Network Management. She also holds other industry certification in M5, M8, M8A, M9 and HI.

Instructor Biography

Institute for Financial Literacy, Unbiased Financial Education Courses

The MoneySENSE-Singapore Polytechnic Institute for Financial Literacy is a collaboration between MoneySENSE, the national financial education programme in Singapore and Singapore Polytechnic.

MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee which comprises representatives from the Ministry of Health, Ministry of Social and Family Development, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.

Our financial education courses cover basic money management, financial planning and investment know-how.

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