S1E22: Things to consider now that CPF Special Account will be removed for those 55 and older

How much should you put into your CPF Life then? Synopsis: Every third Monday of the month, hosts Lee Su Shyan and Ven Sreenivasan - both associate editors and senior columnists at The Straits Times - offer you an extra edge in managing your hard-earned money. In this episode, Mr Christopher Tan, CEO and founder of Providend - a fee-only wealth advisory - discusses the closure of the CPF special account for those 55 and over from early 2025, which was announced during Budget 2024. What are the implications for CPF members and how can they best manage their CPF savings? Highlights (click/tap above):  3:30 Context for why the CPF Ordinary, Special and MediSave accounts were set up  7:30 Reasons for the removal of the CPF Special Account for those 55 and older  13:15  Considerations for CPF members as they aim to boost their returns  15:10 What to bear in mind: Whether to go for the Enhanced Retirement Sum and what you can do with CPF Life  20:00 CPF Life and longevity risk Produced by: Lee Su Shyan ([email protected]), Ven Sreenivasan ([email protected]), Ernest Luis and Teo Tong Kai Edited by: Teo Tong Kai Follow ST's Your Money & Career Podcast channel here: Channel: https://str.sg/wB2m Apple Podcasts: https://str.sg/wuN3 Spotify: https://str.sg/wBr9 SPH Awedio app: https://www.awedio.sg/ Website: http://str.sg/stpodcasts Feedback to: [email protected] Read Ven Sreenivasan's articles: https://str.sg/wuQe Read Lee Su Shyan's articles: https://str.sg/wuQs Follow Lee Su Shyan on LinkedIn: https://str.sg/bZqN Get business/career tips in ST's HeadSTart newsletter: https://str.sg/headstart-nl --- Discover more ST podcast channels: The Usual Place: https://str.sg/5nfm  COE Watch: https://str.sg/iTtE In Your Opinion: https://str.sg/w7Qt Asian Insider: https://str.sg/JWa7 Health Check: https://str.sg/JWaN Green Pulse: https://str.sg/JWaf Your Money & Career: https://str.sg/wB2m ST Sports Talk: https://str.sg/JWRE #PopVultures: https://str.sg/JWad Music Lab: https://str.sg/w9TX Discover ST Podcasts: http://str.sg/stpodcasts --- Special edition series: True Crimes Of Asia (6 eps): https://str.sg/i44T The Unsolved Mysteries of South-east Asia (5 eps): https://str.sg/wuZ2 Invisible Asia (9 eps): https://str.sg/wuZn Stop Scams (10 eps): https://str.sg/wuZB Singapore's War On Covid (5 eps): https://str.sg/wuJa --- Follow our shows then, if you like short, practical podcasts! Do note: All analyses, opinions, recommendations and other information in this podcast are for your general information only. You should not rely on them in making any decision. Please consult a fully qualified financial adviser or professional expert for independent advice and verification. To the fullest extent permitted by law, SPH Media shall not be liable for any loss arising from the use of or reliance on any analyses, opinions, recommendations and other information in this podcast. SPH Media accepts no responsibility or liability whatsoever that may result or arise from the products, services or information of any third parties. #moneycareerSee omnystudio.com/listener for privacy information.