Believe you are following recent talks about the change in the CPF rates etc.
With interest rates for CPF’s Special, Medi-save and Retirement Accounts peg to long term government bond yield by next year Jan 2008, we will have to have a re-look at our retirement fund.
The bond yield over the last 10 years ranged from 2% to 5%. Government will guarantee the floor rate of 4% for another 2 more years and thereafter it will be 2.5% with additional 1%.
You have also learned that one is to work beyond age 62. Minimum sum draw down age is going to be 65 or higher. The reason being that average life expectancy of Singaporean will rise to age 85 or higher.
So to have a better life in later part of our life, we need to plan early for our retirement. You may have to think seriously how to invest your CPF fund wisely to meet long term goal without taking unnecessary excessive risk.
Given the changing circumstances, really we will have no choice but to start planning now.
I welcome you to contact me if I can be of help to you.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment