Source: The Straits Times 13 Aug 2014
Based on a recent survey, roughly 50% of the Singapore investors find that their CPF savings is insufficient for their retirement. About 40% surveyed responded that returns are too low and 25% surveyed have contributed more to their CPF account voluntarily. The survey also showed that many who do not top up their CPF accounts due to the lack of funds. Approximately 66% of the CPF contributors expressed to see more flexibility in withdrawing CPF monies. About 60% request for more education for retirement planning, while more than 50% hope for greater CPF contribution from employers or government.
Although CPF savings is important for retirement, it must not be solely relied upon as a diversified portfolio is equally important for retirement planning. Do you only have your CPF savings for retirement or do you have other sources of retirement funds too? Start planning for your retirement so that you can have a comfortable lifestyle for retirement.