Budget 2024: CPF Special Account closure at age 55 removes overlap, stops 'shielding' hack that maximises interest earnings, say experts
SINGAPORE — Removing the Central Provident Fund (CPF) Special Account for those aged 55 and above will "tidy up" the system and also shut down a little-used "shielding" hack that allowed some CPF members to earn a higher interest, financial experts said.
……Singapore CPF
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SJ8822 22/02/2024
“about 2 per cent of CPF members in 2021 had invested their Special Account savings This whole system only benefits a very small minority of CPF account holders, who have way too much in their CPF account.“ Who u wanna bluff?? If really only 2% of CPF Members does the CPF Shielding u think Government will spent so much effort to close this gap??
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