The Central Provident Fund (CPF) is a government-run savings program in Singapore that helps citizens save for their retirement, healthcare, and housing needs. While CPF offers attractive interest rates for its members’ savings, there are also various investment schemes available to help grow their CPF savings even further.
One popular investment scheme is the CPF Investment Scheme (CPFIS), which allows members to invest their CPF savings in various instruments such as stocks, bonds, unit trusts, and real estate investment trusts (REITs). With CPFIS, members can potentially earn higher returns on their retirement savings compared to leaving them in the CPF Ordinary Account, which typically offers a lower interest rate. However, it is important to note that investments under CPFIS carry risks and investors should do thorough research and seek professional advice before making any investment decisions.
Another option for CPF members is the CPF Retirement Sum Scheme (CPF RSS), which provides a regular stream of income during retirement by converting a portion of the CPF savings into a monthly payout. The CPF RSS offers different plans, allowing members to customize their payments according to their retirement needs. The remaining CPF savings will continue to earn interest and can also be withdrawn at a later time if needed.
By taking advantage of these CPF investment schemes, members can potentially maximize their returns and grow their CPF savings significantly. However, it is
