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suicidalpap
Guest
CPF LIFE; assets of deceased members among CPF changes
Changes to the Central Provident Fund (CPF) Act have been passed in Parliament.
They affect CPF LIFE, which is a scheme made available in September last year for older members to provide lifelong income in their retirement.
From 2013, younger members who turn 55 and who have at least S$40,000 in their accounts will be automatically included.
Those with less than S$40,000 can opt in.
Another change affects the assets of deceased members.
It allows members to choose to leave their CPF savings directly in their nominees' CPF accounts to help provide for their healthcare and retirement needs when they die.
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Next time, they will even pass a Bill that disallows family members to withdraw your next of kin's CPF money when he dies. Still not convinced that CPF is bankrupt? Ho Ching had lost your money that can never be recovered.
Changes to the Central Provident Fund (CPF) Act have been passed in Parliament.
They affect CPF LIFE, which is a scheme made available in September last year for older members to provide lifelong income in their retirement.
From 2013, younger members who turn 55 and who have at least S$40,000 in their accounts will be automatically included.
Those with less than S$40,000 can opt in.
Another change affects the assets of deceased members.
It allows members to choose to leave their CPF savings directly in their nominees' CPF accounts to help provide for their healthcare and retirement needs when they die.
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Next time, they will even pass a Bill that disallows family members to withdraw your next of kin's CPF money when he dies. Still not convinced that CPF is bankrupt? Ho Ching had lost your money that can never be recovered.
