Managing CPF Savings For Your Retirement
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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.
4.1 (30 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
2,546 students enrolled
Last updated 1/2017
English
Price: Free
Includes:
  • 44 mins on-demand video
  • 2 Articles
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • To better understand how to prepare for retirement in Singapore
  • To understand and manage CPF money for your retirement
View Curriculum
Requirements
  • nil
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
Who is the target audience?
  • working adults
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Curriculum For This Course
Expand All 17 Lectures Collapse All 17 Lectures 46:44
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Introduction
2 Lectures 02:11

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
MoneySENSE Core Financial Capabilities Framework
01:33

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
Module Introduction
00:38
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Retirement Account From Age 55
11 Lectures 39:30

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.

CPF Account Basics
03:37

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

Setting Aside CPF for Retirement
06:54

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

Retirement Sums
00:45

In this lecture, we look at:

  • CPF Investment and Education Loan after 55
  • Sale of Property after 55
  • Property Pledge
Property Charge or Pledge
04:27

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

CPF LIFE
01:59

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

Standard or Basic CPF LIFE plan?
04:53

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

CPF Nomination
01:57

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

Other CPF LIFE options
01:39

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

Future Schemes
01:38

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

Growing your CPF Funds
05:55

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

Case Studies
05:46
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Conclusion
4 Lectures 03:52

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

Should I invest my CPF monies?
01:37

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

Conclusion
00:32

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

Additional Resources
00:31

CPF Life is .......
4 questions

This is a summary of this module.

Summary
01:12
About the Instructor
Peggy Chan
3.7 Average rating
799 Reviews
31,702 Students
13 Courses
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.

Institute for Financial Literacy
3.8 Average rating
1,202 Reviews
44,389 Students
24 Courses
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.