Why should CPF retirement account last until age of 128?
Recently, the Central Provident Fund (CPF) Board informed my wife that she will be able to start withdrawing a monthly payment from April, when she reaches the age of 64.
Recently, the Central Provident Fund (CPF) Board informed my wife that she will be able to start withdrawing a monthly payment from April, when she reaches the age of 64.
Its letter states: “With the current RA (Retirement Account) interest rate, your RA balance is expected to last about 64 years.”
Could the CPF Board explain the need for the RA balance to last until the age of 128, when the oldest ever Singaporean was 115 years old.
Phan Pang Chia
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