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[h=1]PM LEE: YOU CAN WORK BEYOND 65, DOWNGRADE YOUR FLAT AND PAY HIGHER CPF LIFE PREMIUMS
<style>.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;}</style>[/h]Post date:
28 May 2014 - 10:37pm
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During his speech in the debate on the President's address, PM Lee talked about how the government will be doing more to help Singaporeans be financially secure in their old age.
He outlined 3 major ways in which the government plans to help: raise the re-employment age above 65, make it easier for Singaporeans to downgrade their flats and free up cash, as well as expanding the CPF life scheme's benefits by first increasing the premium.
By raising the re-employment age, Singaporeans will be able to work for longer so that they have more savings for when they do retire.
On top of making it easier to downgrade your flats, the government is also looking into other ways that Singaporeans can unlock the wealth held in their flat. PM Lee said that the Ministry of National Development is currently studying other monetisation schemes for flats too.
In the area of CPF Life, PM Lee explained that they want to improve the payouts so that they can keep up with the rising cost of living.
He explained that more information about the CPF Life and Medishield Life plans will be discussed in parliament and at the national day rally later this year.
He did however, admit that premiums will have to go up to allow for the better coverage.
<style>.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;}</style>[/h]Post date:
28 May 2014 - 10:37pm
<ins style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: inline-table; visibility: visible; position: relative; background-color: transparent; border-image: none;"><ins id="aswift_1_anchor" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: block; visibility: visible; position: relative; background-color: transparent; border-image: none;"><iframe name="aswift_1" width="336" height="280" id="aswift_1" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" vspace="0" hspace="0" style="left: 0px; top: 0px; position: absolute;" allowTransparency="true"></iframe></ins></ins>
During his speech in the debate on the President's address, PM Lee talked about how the government will be doing more to help Singaporeans be financially secure in their old age.
He outlined 3 major ways in which the government plans to help: raise the re-employment age above 65, make it easier for Singaporeans to downgrade their flats and free up cash, as well as expanding the CPF life scheme's benefits by first increasing the premium.
By raising the re-employment age, Singaporeans will be able to work for longer so that they have more savings for when they do retire.
On top of making it easier to downgrade your flats, the government is also looking into other ways that Singaporeans can unlock the wealth held in their flat. PM Lee said that the Ministry of National Development is currently studying other monetisation schemes for flats too.
In the area of CPF Life, PM Lee explained that they want to improve the payouts so that they can keep up with the rising cost of living.
He explained that more information about the CPF Life and Medishield Life plans will be discussed in parliament and at the national day rally later this year.
He did however, admit that premiums will have to go up to allow for the better coverage.
