The CPF Advisory Panel (CAP) has unveiled its recommendations on adjustments to the Minimum Sum and allowing an additional lump sum withdrawal, the first two of its Terms of Reference.
Among the recommendations are:
- Focusing first on the desired payouts during retirement before deciding on how much retirement savings should be set aside.
- Flexibility for a Lump Sum Withdrawal of up to 20% of their Retirement Account Savings at the Payout Eligibility Age.
- Topping up spouses’ CPF accounts so that they can enjoy higher payouts under CPF LIFE.
Read more about the Panel’s recommendations at www.cpfpanel.sgCheers