SINGAPORE, Feb 14 Platform workers aged under 30 such as food delivery riders will soon come under the Central Provident Fund (CPF) scheme following recommendations of a.
Can you really say that you know where your money goes every month? If you don’t understand what’s happening to that precious chunk of your salary that goes into your CPF accounts through CPF contributions, never to be seen again, then the answer is no. But not to worry, understanding how CPF works is tedious, but it isn’t rocket science..
If you’re in your 30s like I am, retiring in Singapore is the stuff of nightmares. By the time our retirement rolls around, the old folks selling cheap hawker food and kopi will be long dead and gone. What will life be like then? And how can we hope to afford it? So it’s really important for us to understand.
The first shifts of the Retirement Age to 63 and Re-Employment Age to 68 will take effect from 1 July 2022. Meanwhile, CPF members can look forward to simplified processes beginning Q1 of 2022.