CPF Special Account closure: How it will affect you | Money Talks podcast
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
- 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.
0:00 Intro
1:35 Financial news update: Flight ticket prices rise, Ringgit falls
7:10 Breaking down CPF Ordinary and Special Accounts
11:43 Impact on retirement payouts
19:04 How should Singaporeans in their 40s prepare?
21:00 Should we still invest our CPF?
22:56 Different views on CPF
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There are inconsistencies in the withdrawal clauses at 65 years old and their rationale with the closure of CPF SA after 55 years old. CPF Board should sit down and study the policies well before executing a knee jerk reaction to CPF shielding.
The Closure is a Sign of Correcting Abuses & Failures
the guest speaker was doing a really good job explaining, and the lady host should learn to shut up instead of trying interrupt and pretend like she knows so much (which obviously she doesn't) and gave some wrong interpretation of what the guest was trying to express
Angela cannot make a good host unless she tweaked her ah's, wow, irritating..she wants to talk more than the well qualified guest speaker.
As long not reached FRS just keep topping up lo, no need to overanalyze and complicate matters
Thks. This pod cast is very useful.
Been watching some of these videos incl the above by CNA, Money Talks, but none are mentioning, how all these changes helping fellow Singaporean's living abroad?
1) S'porean's are not benefitting the special grants just because they're residing abroad, but we're S'poreans. So the govt don't NEED to give us these benefits?
2) How abt S'poreans who don't own any properties & residing abroad permanently?
3) At 55, all we can withdraw is 5k. How abt the usage of Medisave for all those living abroad and again for those who don't own any properties in S'pore & having a Medical Condition and /or life threatening and not able to work? We can only use it in S'pore? How is it right for a S'porean living abroad?
Can CNA or any one shed some light here for the benefit of those 55 and above, living overseas? Thank you.
If only Angela would allow the guest speaker to talk, without interrupting his explanation of the SA closure with her needless input then its easier to understand the contents. she's just so disruptive
Special acc can withdraw follow by age or any age can draw
Retirement account interest rate should be than more 4.8% price keep going up by the time our money becomes low value we keep our money inside Cpf for long term time interest rate should be higher not 4.8%is too low any way cpf is not our savings acct can withdraw any time 4.8%🤔🤔🤔how to retire by the time we getting old still need to work until we dies .can work until dies is good side 😂cannot work that is the worse 😢
A good move to close that loophole in SA.
Great
Retirement planning is essential. Did you know that in certain regions, you need over a million dollars to retire comfortably?
Indeed, it's quite a sum. I've been retired for three years now, and I'm only 46…. 0:02
Wow! PAP has proven once again that it is the only responsible and effective party in s'pore. Awesome!❤❤
Support the closure as does not bring more needy or financial not so savvy people to benefit but those who already can take care of themselves.
Jokes on the more conservative retireee who pumped all his money into SA compared to one who used all cpf into a high end private house
In short, NOTHING GOOD !!!😂
This guy again? Can cna find people with better credentials and track records?