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Tan See Leng on options for higher retirement payouts

Singaporeans already have many options to plan for higher retirement payouts, said Manpower Minister Tan See Leng. Replying to an MP's question in Parliament on Tuesday (Jul 27), he said within the CPF system, members who wish to have higher CPF LIFE payouts can set aside an Enhanced Retirement Sum, which is triple that of the Basic Retirement Sum. They can boost their retirement income further by deferring the start of their payouts till age 70. Singaporeans can also save more during their working years, by making voluntary contributions to the Supplementary Retirement Scheme. 

Tan See Leng on options for higher retirement payouts

27 Jul 2021 12:09pm
Singaporeans already have many options to plan for higher retirement payouts, said Manpower Minister Tan See Leng. Replying to an MP's question in Parliament on Tuesday (Jul 27), he said within the CPF system, members who wish to have higher CPF LIFE payouts can set aside an Enhanced Retirement Sum, which is triple that of the Basic Retirement Sum. They can boost their retirement income further by deferring the start of their payouts till age 70. Singaporeans can also save more during their working years, by making voluntary contributions to the Supplementary Retirement Scheme. 

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