- To better understand how to prepare for retirement in Singapore
To understand and manage CPF money for your retirement
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
- working adults
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.