Do You Want To Retire Before 60 ?

[Throttle2]

On 1/20/2025 at 2:29 PM, Kxbc said:

I've never bought a 1-way ticket before (also because no chance to).

Some customs officer do ask for your exit date from the country so also not sure how to reply that when asked. 😄

For Japan , when they see SG passport they wont ask.  
Immigration cleared within 2 mins as i skip queue due to Apec card. 
 

 

[Windwaver]

https://www.businesstimes.com.sg/singapore/cpf-special-account-1-4-million-members-closed-jan-19

CPF Special Account for 1.4 million members closed on Jan 19

Savings there have been transferred to the Retirement Account, up to members’ cohort Full Retirement Sum

THE Special Accounts (SA) of some 1.4 million Central Provident Fund (CPF) members aged 55 and above were closed on Sunday (Jan 19), said the CPF Board in a news release.

The closure of the SA was first announced by Finance Minister Lawrence Wong in his Budget 2024 speech in Parliament last February.

With the closure of the SA, savings there have been transferred to the Retirement Account (RA), up to members’ cohort Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from January onwards.

Savings in the Special, MediSave and Retirement Accounts earn the floor rate of 4 per cent per annum from Jan 1 to Mar 31, 2025.

The remaining SA savings have been transferred to the Ordinary Account (OA) where they will earn 2.5 per cent interest per annum, with members having the flexibility to withdraw them when needed.

Those who want to continue earning the higher interest rate of 4 per cent per annum and enjoy higher retirement payouts have the option of transferring these OA savings to their RA – up to the current year’s Enhanced Retirement Sum (ERS).

This transfer is irreversible and can be made anytime. However, the CPF Board said that if members who wish to earn the higher interest from January onwards, the transfer must be processed by January 2025.

The CPF Board said in its release that the normal processing time for CPF transfers is five working days upon receipt of application, and this could be longer if the volume of applications is high.

The ERS was raised on Jan 1 from three times to four times the Basic Retirement Sum to give those aged 55 and above the option to voluntarily top up more to their RA to receive higher monthly payouts in their retirement years.

The ERS in 2025 is S$426,000 for all members aged 55 and older. Those turning 55 years old in 2025 can receive CPF Life monthly payouts of up to S$3,300 for life from age 65, if they choose to top up to the ERS of S$426,000 in 2025.

From Monday, CPF members will be notified of the closure of their SA through a hardcopy letter, as well as an e-mail or SMS where applicable. They can also view the amounts transferred to their RA and/or OA in their online transaction history by logging in to their CPF account or using the CPF mobile application.

For those currently holding investments under the CPF Investment Scheme-Special Account, the CPF Board said they can continue to hold these investments until they decide to sell them or until they mature.

Upon maturity or sale of these investments, the proceeds will go to the RA up to the member’s cohort’s FRS. Any remaining proceeds will go to the OA.

 

https://www.straitstimes.com/singapore/health/s-pore-wants-to-become-a-blue-zone-30-where-gap-between-life-and-health-spans-is-smaller

S’pore wants to become a Blue Zone 3.0 where gap between life and health spans is smaller

SINGAPORE – Singapore aspires to become a Blue Zone 3.0 where a healthier lifestyle is the new norm, even if this may take a generation to materialise, Health Minister Ong Ye Kung said on Thursday.

He was speaking at the third Centre for Research on Successful Ageing (Rosa) Symposium at the Singapore Management University (SMU).

Blue Zones are places with the healthiest, longest living populations, where it is not unusual for people to live to 100 years old and beyond. 

Singapore is one of the six such zones in the world in the popular Netflix docuseries, Live To 100: Secrets Of The Blue Zones, as its people have one of the longest lifespans and healthspans in the world.

Yet, Singapore is different from the other Blue Zones, such as Okinawa prefecture in Japan, because it does not have a tradition of healthy lifestyles. The pace of life is fast and stressful; many families keep to themselves and rarely talk to their immediate neighbours, said Mr Ong.

The documentary said the authorities have nudged Singaporeans towards healthier lifestyles with infrastructure and programmes.

Effecting a fundamental change in people’s ways of life would take it beyond Blue Zone 2.0, which is how the show’s researcher Dan Buettner describes Singapore at the moment.

In the other Blue Zones – Okinawa, Sardinia in Italy, Icaria in Greece, Nicoya Peninsula in Costa Rica and Loma Linda in California – their populations have lifestyles that are similar: They eat wisely and moderately, with diets rich in fruits, vegetables, grains and nuts.

They also engage in regular, low-intensity physical activities, such as walking and gardening, instead of strenuous workouts, and do not live a sedentary lifestyle. Community bonds are strong, and they live with purpose, however mundane it may be.

Much work lies ahead for Singapore if it is to become a Blue Zone 3.0. The average Singaporean still suffers 10 years of ill health before death, given that the average lifespan here is about 84 years, while the average health span is 74, said Mr Ong.

Narrowing the gap between lifespan and healthspan is the motivation behind national programmes such as Healthier SG, which aims to bring about behavioural changes by encouraging people to commit to one family physician, not to doctor-hop, and develop a personal health plan with the doctor, he said.

Second, healthier behaviours that are brought about by policies and programmes need to evolve into new lifestyles and habits over time, said Mr Ong.

“It may take a generation to achieve this, but we are determined in our purpose as we become a super-aged society.”

Extended lifespans and healthspans are a gift, but the Government needs to look into other areas to help seniors age well, particularly young seniors from their 50s to early 60s, said Professor Paulin Straughan, director of SMU Rosa.

At the symposium, Rosa revealed findings of a new study that showed that while retirement is a major worry for most Singaporeans, only 34 per cent of Singaporeans rate their retirement preparedness as good, while another 27 per cent do not have a retirement plan.

Prof Straughan, who moderated a session on work transformation on Thursday, told reporters ahead of the session that the culture of work needs to change, because Singapore is super-aged and the people here are living so much longer and, hopefully, healthier. 

There is a group of Singaporeans who are well educated, experienced and have lived through the different global events, and they may be rendered invisible once they retire, she said. 

“So, we really need to rethink what work means – it doesn’t necessarily have to be nine to five, doesn’t necessarily have to be full time versus part time. You can contribute in a manner that you can,” said Prof Straughan.

Thus far, work has always been classified as paid work, but there is also volunteerism, which would suit those who may not need to work for a living but wish to continue contributing to society. 

“We don’t expect people to use their life savings to do community service. So, why not...  give them honorariums, so that they can retire but, at the same time, (play) a very important, socially significant role in the communities that they live in?” said Prof Straughan.

There should also be financial policies to help seniors live well as they age. “We need some help extending our savings because we don’t know when we will expire. And we hope that savings are adequate to support us through our longevity,” said Prof Straughan.

Researchers at Rosa polled 6,430 Singaporeans between the ages of 53 and 78 in January, drawing data from the Singapore Life Panel, a monthly survey of Singaporeans that is representative of the population.

For the study titled Singapore’s Three Generational Packages, Rosa had three policy recommendations for the Pioneer and Merdeka generations and young seniors.

As the pioneers may experience a greater sense of isolation, given a smaller social circle as their peers die, and be more likely to live alone, or be widowed or separated, policies must be able to support social initiatives to combat isolation, the study said.

The built environment can be transformed to support their social inclusivity, a theme that was explored at a workshop at the symposium.

For the Merdeka cohort, policies should promote part-time work, retraining and financial incentives to promote gainful employment, as approximately half of this group is employed.

For young seniors who are actively preparing for retirement, the meaning of work will likely evolve, and is something that policymakers should consider, the study said.

With longer life expectancy, increasing costs and inflation, financial retirement security for this group demands a fresh perspective, as traditional retirement savings may no longer suffice, it added.

[Throttle2]

Eat early

[Throttle2]

Forgot to add the Rolex

[Throttle2]

On 1/20/2025 at 2:52 PM, Windwaver said:

normal processing time for CPF transfers is five working days upon receipt of application, and this could

 

On 1/20/2025 at 2:52 PM, Windwaver said:

https://www.businesstimes.com.sg/singapore/cpf-special-account-1-4-million-members-closed-jan-19

CPF Special Account for 1.4 million members closed on Jan 19

Savings there have been transferred to the Retirement Account, up to members’ cohort Full Retirement Sum

THE Special Accounts (SA) of some 1.4 million Central Provident Fund (CPF) members aged 55 and above were closed on Sunday (Jan 19), said the CPF Board in a news release.

The closure of the SA was first announced by Finance Minister Lawrence Wong in his Budget 2024 speech in Parliament last February.

With the closure of the SA, savings there have been transferred to the Retirement Account (RA), up to members’ cohort Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from January onwards.

Savings in the Special, MediSave and Retirement Accounts earn the floor rate of 4 per cent per annum from Jan 1 to Mar 31, 2025.

The remaining SA savings have been transferred to the Ordinary Account (OA) where they will earn 2.5 per cent interest per annum, with members having the flexibility to withdraw them when needed.

Those who want to continue earning the higher interest rate of 4 per cent per annum and enjoy higher retirement payouts have the option of transferring these OA savings to their RA – up to the current year’s Enhanced Retirement Sum (ERS).

This transfer is irreversible and can be made anytime. However, the CPF Board said that if members who wish to earn the higher interest from January onwards, the transfer must be processed by January 2025.

The CPF Board said in its release that the normal processing time for CPF transfers is five working days upon receipt of application, and this could be longer if the volume of applications is high.

The ERS was raised on Jan 1 from three times to four times the Basic Retirement Sum to give those aged 55 and above the option to voluntarily top up more to their RA to receive higher monthly payouts in their retirement years.

The ERS in 2025 is S$426,000 for all members aged 55 and older. Those turning 55 years old in 2025 can receive CPF Life monthly payouts of up to S$3,300 for life from age 65, if they choose to top up to the ERS of S$426,000 in 2025.

From Monday, CPF members will be notified of the closure of their SA through a hardcopy letter, as well as an e-mail or SMS where applicable. They can also view the amounts transferred to their RA and/or OA in their online transaction history by logging in to their CPF account or using the CPF mobile application.

For those currently holding investments under the CPF Investment Scheme-Special Account, the CPF Board said they can continue to hold these investments until they decide to sell them or until they mature.

Upon maturity or sale of these investments, the proceeds will go to the RA up to the member’s cohort’s FRS. Any remaining proceeds will go to the OA.

 

https://www.straitstimes.com/singapore/health/s-pore-wants-to-become-a-blue-zone-30-where-gap-between-life-and-health-spans-is-smaller

S’pore wants to become a Blue Zone 3.0 where gap between life and health spans is smaller

SINGAPORE – Singapore aspires to become a Blue Zone 3.0 where a healthier lifestyle is the new norm, even if this may take a generation to materialise, Health Minister Ong Ye Kung said on Thursday.

He was speaking at the third Centre for Research on Successful Ageing (Rosa) Symposium at the Singapore Management University (SMU).

Blue Zones are places with the healthiest, longest living populations, where it is not unusual for people to live to 100 years old and beyond. 

Singapore is one of the six such zones in the world in the popular Netflix docuseries, Live To 100: Secrets Of The Blue Zones, as its people have one of the longest lifespans and healthspans in the world.

Yet, Singapore is different from the other Blue Zones, such as Okinawa prefecture in Japan, because it does not have a tradition of healthy lifestyles. The pace of life is fast and stressful; many families keep to themselves and rarely talk to their immediate neighbours, said Mr Ong.

The documentary said the authorities have nudged Singaporeans towards healthier lifestyles with infrastructure and programmes.

Effecting a fundamental change in people’s ways of life would take it beyond Blue Zone 2.0, which is how the show’s researcher Dan Buettner describes Singapore at the moment.

In the other Blue Zones – Okinawa, Sardinia in Italy, Icaria in Greece, Nicoya Peninsula in Costa Rica and Loma Linda in California – their populations have lifestyles that are similar: They eat wisely and moderately, with diets rich in fruits, vegetables, grains and nuts.

They also engage in regular, low-intensity physical activities, such as walking and gardening, instead of strenuous workouts, and do not live a sedentary lifestyle. Community bonds are strong, and they live with purpose, however mundane it may be.

Much work lies ahead for Singapore if it is to become a Blue Zone 3.0. The average Singaporean still suffers 10 years of ill health before death, given that the average lifespan here is about 84 years, while the average health span is 74, said Mr Ong.

Narrowing the gap between lifespan and healthspan is the motivation behind national programmes such as Healthier SG, which aims to bring about behavioural changes by encouraging people to commit to one family physician, not to doctor-hop, and develop a personal health plan with the doctor, he said.

Second, healthier behaviours that are brought about by policies and programmes need to evolve into new lifestyles and habits over time, said Mr Ong.

“It may take a generation to achieve this, but we are determined in our purpose as we become a super-aged society.”

Extended lifespans and healthspans are a gift, but the Government needs to look into other areas to help seniors age well, particularly young seniors from their 50s to early 60s, said Professor Paulin Straughan, director of SMU Rosa.

At the symposium, Rosa revealed findings of a new study that showed that while retirement is a major worry for most Singaporeans, only 34 per cent of Singaporeans rate their retirement preparedness as good, while another 27 per cent do not have a retirement plan.

Prof Straughan, who moderated a session on work transformation on Thursday, told reporters ahead of the session that the culture of work needs to change, because Singapore is super-aged and the people here are living so much longer and, hopefully, healthier. 

There is a group of Singaporeans who are well educated, experienced and have lived through the different global events, and they may be rendered invisible once they retire, she said. 

“So, we really need to rethink what work means – it doesn’t necessarily have to be nine to five, doesn’t necessarily have to be full time versus part time. You can contribute in a manner that you can,” said Prof Straughan.

Thus far, work has always been classified as paid work, but there is also volunteerism, which would suit those who may not need to work for a living but wish to continue contributing to society. 

“We don’t expect people to use their life savings to do community service. So, why not...  give them honorariums, so that they can retire but, at the same time, (play) a very important, socially significant role in the communities that they live in?” said Prof Straughan.

There should also be financial policies to help seniors live well as they age. “We need some help extending our savings because we don’t know when we will expire. And we hope that savings are adequate to support us through our longevity,” said Prof Straughan.

Researchers at Rosa polled 6,430 Singaporeans between the ages of 53 and 78 in January, drawing data from the Singapore Life Panel, a monthly survey of Singaporeans that is representative of the population.

For the study titled Singapore’s Three Generational Packages, Rosa had three policy recommendations for the Pioneer and Merdeka generations and young seniors.

As the pioneers may experience a greater sense of isolation, given a smaller social circle as their peers die, and be more likely to live alone, or be widowed or separated, policies must be able to support social initiatives to combat isolation, the study said.

The built environment can be transformed to support their social inclusivity, a theme that was explored at a workshop at the symposium.

For the Merdeka cohort, policies should promote part-time work, retraining and financial incentives to promote gainful employment, as approximately half of this group is employed.

For young seniors who are actively preparing for retirement, the meaning of work will likely evolve, and is something that policymakers should consider, the study said.

With longer life expectancy, increasing costs and inflation, financial retirement security for this group demands a fresh perspective, as traditional retirement savings may no longer suffice, it added.

KNN 

bottomline is they want retirees to go back to work becos they scared we outlive our savings.    kns

Very easy, bring back pension.

pay me 10% of my last drawn salary enough liao.  

🤣🤣😂😂

[mersaylee]

On 1/20/2025 at 2:52 PM, Windwaver said:

https://www.businesstimes.com.sg/singapore/cpf-special-account-1-4-million-members-closed-jan-19

CPF Special Account for 1.4 million members closed on Jan 19

Savings there have been transferred to the Retirement Account, up to members’ cohort Full Retirement Sum

THE Special Accounts (SA) of some 1.4 million Central Provident Fund (CPF) members aged 55 and above were closed on Sunday (Jan 19), said the CPF Board in a news release.

The closure of the SA was first announced by Finance Minister Lawrence Wong in his Budget 2024 speech in Parliament last February.

With the closure of the SA, savings there have been transferred to the Retirement Account (RA), up to members’ cohort Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from January onwards.

Savings in the Special, MediSave and Retirement Accounts earn the floor rate of 4 per cent per annum from Jan 1 to Mar 31, 2025.

The remaining SA savings have been transferred to the Ordinary Account (OA) where they will earn 2.5 per cent interest per annum, with members having the flexibility to withdraw them when needed.

Those who want to continue earning the higher interest rate of 4 per cent per annum and enjoy higher retirement payouts have the option of transferring these OA savings to their RA – up to the current year’s Enhanced Retirement Sum (ERS).

This transfer is irreversible and can be made anytime. However, the CPF Board said that if members who wish to earn the higher interest from January onwards, the transfer must be processed by January 2025.

The CPF Board said in its release that the normal processing time for CPF transfers is five working days upon receipt of application, and this could be longer if the volume of applications is high.

The ERS was raised on Jan 1 from three times to four times the Basic Retirement Sum to give those aged 55 and above the option to voluntarily top up more to their RA to receive higher monthly payouts in their retirement years.

The ERS in 2025 is S$426,000 for all members aged 55 and older. Those turning 55 years old in 2025 can receive CPF Life monthly payouts of up to S$3,300 for life from age 65, if they choose to top up to the ERS of S$426,000 in 2025.

From Monday, CPF members will be notified of the closure of their SA through a hardcopy letter, as well as an e-mail or SMS where applicable. They can also view the amounts transferred to their RA and/or OA in their online transaction history by logging in to their CPF account or using the CPF mobile application.

For those currently holding investments under the CPF Investment Scheme-Special Account, the CPF Board said they can continue to hold these investments until they decide to sell them or until they mature.

Upon maturity or sale of these investments, the proceeds will go to the RA up to the member’s cohort’s FRS. Any remaining proceeds will go to the OA.

 

https://www.straitstimes.com/singapore/health/s-pore-wants-to-become-a-blue-zone-30-where-gap-between-life-and-health-spans-is-smaller

S’pore wants to become a Blue Zone 3.0 where gap between life and health spans is smaller

SINGAPORE – Singapore aspires to become a Blue Zone 3.0 where a healthier lifestyle is the new norm, even if this may take a generation to materialise, Health Minister Ong Ye Kung said on Thursday.

He was speaking at the third Centre for Research on Successful Ageing (Rosa) Symposium at the Singapore Management University (SMU).

Blue Zones are places with the healthiest, longest living populations, where it is not unusual for people to live to 100 years old and beyond. 

Singapore is one of the six such zones in the world in the popular Netflix docuseries, Live To 100: Secrets Of The Blue Zones, as its people have one of the longest lifespans and healthspans in the world.

Yet, Singapore is different from the other Blue Zones, such as Okinawa prefecture in Japan, because it does not have a tradition of healthy lifestyles. The pace of life is fast and stressful; many families keep to themselves and rarely talk to their immediate neighbours, said Mr Ong.

The documentary said the authorities have nudged Singaporeans towards healthier lifestyles with infrastructure and programmes.

Effecting a fundamental change in people’s ways of life would take it beyond Blue Zone 2.0, which is how the show’s researcher Dan Buettner describes Singapore at the moment.

In the other Blue Zones – Okinawa, Sardinia in Italy, Icaria in Greece, Nicoya Peninsula in Costa Rica and Loma Linda in California – their populations have lifestyles that are similar: They eat wisely and moderately, with diets rich in fruits, vegetables, grains and nuts.

They also engage in regular, low-intensity physical activities, such as walking and gardening, instead of strenuous workouts, and do not live a sedentary lifestyle. Community bonds are strong, and they live with purpose, however mundane it may be.

Much work lies ahead for Singapore if it is to become a Blue Zone 3.0. The average Singaporean still suffers 10 years of ill health before death, given that the average lifespan here is about 84 years, while the average health span is 74, said Mr Ong.

Narrowing the gap between lifespan and healthspan is the motivation behind national programmes such as Healthier SG, which aims to bring about behavioural changes by encouraging people to commit to one family physician, not to doctor-hop, and develop a personal health plan with the doctor, he said.

Second, healthier behaviours that are brought about by policies and programmes need to evolve into new lifestyles and habits over time, said Mr Ong.

“It may take a generation to achieve this, but we are determined in our purpose as we become a super-aged society.”

Extended lifespans and healthspans are a gift, but the Government needs to look into other areas to help seniors age well, particularly young seniors from their 50s to early 60s, said Professor Paulin Straughan, director of SMU Rosa.

At the symposium, Rosa revealed findings of a new study that showed that while retirement is a major worry for most Singaporeans, only 34 per cent of Singaporeans rate their retirement preparedness as good, while another 27 per cent do not have a retirement plan.

Prof Straughan, who moderated a session on work transformation on Thursday, told reporters ahead of the session that the culture of work needs to change, because Singapore is super-aged and the people here are living so much longer and, hopefully, healthier. 

There is a group of Singaporeans who are well educated, experienced and have lived through the different global events, and they may be rendered invisible once they retire, she said. 

“So, we really need to rethink what work means – it doesn’t necessarily have to be nine to five, doesn’t necessarily have to be full time versus part time. You can contribute in a manner that you can,” said Prof Straughan.

Thus far, work has always been classified as paid work, but there is also volunteerism, which would suit those who may not need to work for a living but wish to continue contributing to society. 

“We don’t expect people to use their life savings to do community service. So, why not...  give them honorariums, so that they can retire but, at the same time, (play) a very important, socially significant role in the communities that they live in?” said Prof Straughan.

There should also be financial policies to help seniors live well as they age. “We need some help extending our savings because we don’t know when we will expire. And we hope that savings are adequate to support us through our longevity,” said Prof Straughan.

Researchers at Rosa polled 6,430 Singaporeans between the ages of 53 and 78 in January, drawing data from the Singapore Life Panel, a monthly survey of Singaporeans that is representative of the population.

For the study titled Singapore’s Three Generational Packages, Rosa had three policy recommendations for the Pioneer and Merdeka generations and young seniors.

As the pioneers may experience a greater sense of isolation, given a smaller social circle as their peers die, and be more likely to live alone, or be widowed or separated, policies must be able to support social initiatives to combat isolation, the study said.

The built environment can be transformed to support their social inclusivity, a theme that was explored at a workshop at the symposium.

For the Merdeka cohort, policies should promote part-time work, retraining and financial incentives to promote gainful employment, as approximately half of this group is employed.

For young seniors who are actively preparing for retirement, the meaning of work will likely evolve, and is something that policymakers should consider, the study said.

With longer life expectancy, increasing costs and inflation, financial retirement security for this group demands a fresh perspective, as traditional retirement savings may no longer suffice, it added.

This post deserves a scolding...ccb pxp...😁

[Windwaver]

On 1/20/2025 at 5:23 PM, Throttle2 said:

 

KNN 

bottomline is they want retirees to go back to work becos they scared we outlive our savings.    kns

Very easy, bring back pension.

pay me 10% of my last drawn salary enough liao.  

🤣🤣😂😂

Which company will hire those non-CXOs level people beyond 50 even with proper qualifications and experience?

Don't even think of planning retirement by 65, must plan by 50 to 55 

[Throttle2]

Rise and Shine, Boys

Tues morning , perfect weather.  

[Throttle2]

 

sit down eat late breakfast and enjoy the cool weather and tranquility 

Edited January 21 by Throttle2

[inlinesix]

I used to travel alone or a bro to HK for SCHK.  

I will go 3 days before and stay another 3 days after to do nothing.

No need to care about email then.

No need to wait till retirement which is too late liao

[kobayashiGT]

On 1/21/2025 at 10:41 AM, Throttle2 said:

Rise and Shine, Boys

Tues morning , perfect weather.  

tampines quarry ah? 

[Throttle2]

Cigar break at the shrine. 

[Spidey10]

On 1/20/2025 at 2:52 PM, Windwaver said:

https://www.businesstimes.com.sg/singapore/cpf-special-account-1-4-million-members-closed-jan-19

CPF Special Account for 1.4 million members closed on Jan 19

Savings there have been transferred to the Retirement Account, up to members’ cohort Full Retirement Sum

THE Special Accounts (SA) of some 1.4 million Central Provident Fund (CPF) members aged 55 and above were closed on Sunday (Jan 19), said the CPF Board in a news release.

The closure of the SA was first announced by Finance Minister Lawrence Wong in his Budget 2024 speech in Parliament last February.

With the closure of the SA, savings there have been transferred to the Retirement Account (RA), up to members’ cohort Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from January onwards.

Savings in the Special, MediSave and Retirement Accounts earn the floor rate of 4 per cent per annum from Jan 1 to Mar 31, 2025.

The remaining SA savings have been transferred to the Ordinary Account (OA) where they will earn 2.5 per cent interest per annum, with members having the flexibility to withdraw them when needed.

Those who want to continue earning the higher interest rate of 4 per cent per annum and enjoy higher retirement payouts have the option of transferring these OA savings to their RA – up to the current year’s Enhanced Retirement Sum (ERS).

This transfer is irreversible and can be made anytime. However, the CPF Board said that if members who wish to earn the higher interest from January onwards, the transfer must be processed by January 2025.

The CPF Board said in its release that the normal processing time for CPF transfers is five working days upon receipt of application, and this could be longer if the volume of applications is high.

The ERS was raised on Jan 1 from three times to four times the Basic Retirement Sum to give those aged 55 and above the option to voluntarily top up more to their RA to receive higher monthly payouts in their retirement years.

The ERS in 2025 is S$426,000 for all members aged 55 and older. Those turning 55 years old in 2025 can receive CPF Life monthly payouts of up to S$3,300 for life from age 65, if they choose to top up to the ERS of S$426,000 in 2025.

From Monday, CPF members will be notified of the closure of their SA through a hardcopy letter, as well as an e-mail or SMS where applicable. They can also view the amounts transferred to their RA and/or OA in their online transaction history by logging in to their CPF account or using the CPF mobile application.

For those currently holding investments under the CPF Investment Scheme-Special Account, the CPF Board said they can continue to hold these investments until they decide to sell them or until they mature.

Upon maturity or sale of these investments, the proceeds will go to the RA up to the member’s cohort’s FRS. Any remaining proceeds will go to the OA.

 

https://www.straitstimes.com/singapore/health/s-pore-wants-to-become-a-blue-zone-30-where-gap-between-life-and-health-spans-is-smaller

S’pore wants to become a Blue Zone 3.0 where gap between life and health spans is smaller

SINGAPORE – Singapore aspires to become a Blue Zone 3.0 where a healthier lifestyle is the new norm, even if this may take a generation to materialise, Health Minister Ong Ye Kung said on Thursday.

He was speaking at the third Centre for Research on Successful Ageing (Rosa) Symposium at the Singapore Management University (SMU).

Blue Zones are places with the healthiest, longest living populations, where it is not unusual for people to live to 100 years old and beyond. 

Singapore is one of the six such zones in the world in the popular Netflix docuseries, Live To 100: Secrets Of The Blue Zones, as its people have one of the longest lifespans and healthspans in the world.

Yet, Singapore is different from the other Blue Zones, such as Okinawa prefecture in Japan, because it does not have a tradition of healthy lifestyles. The pace of life is fast and stressful; many families keep to themselves and rarely talk to their immediate neighbours, said Mr Ong.

The documentary said the authorities have nudged Singaporeans towards healthier lifestyles with infrastructure and programmes.

Effecting a fundamental change in people’s ways of life would take it beyond Blue Zone 2.0, which is how the show’s researcher Dan Buettner describes Singapore at the moment.

In the other Blue Zones – Okinawa, Sardinia in Italy, Icaria in Greece, Nicoya Peninsula in Costa Rica and Loma Linda in California – their populations have lifestyles that are similar: They eat wisely and moderately, with diets rich in fruits, vegetables, grains and nuts.

They also engage in regular, low-intensity physical activities, such as walking and gardening, instead of strenuous workouts, and do not live a sedentary lifestyle. Community bonds are strong, and they live with purpose, however mundane it may be.

Much work lies ahead for Singapore if it is to become a Blue Zone 3.0. The average Singaporean still suffers 10 years of ill health before death, given that the average lifespan here is about 84 years, while the average health span is 74, said Mr Ong.

Narrowing the gap between lifespan and healthspan is the motivation behind national programmes such as Healthier SG, which aims to bring about behavioural changes by encouraging people to commit to one family physician, not to doctor-hop, and develop a personal health plan with the doctor, he said.

Second, healthier behaviours that are brought about by policies and programmes need to evolve into new lifestyles and habits over time, said Mr Ong.

“It may take a generation to achieve this, but we are determined in our purpose as we become a super-aged society.”

Extended lifespans and healthspans are a gift, but the Government needs to look into other areas to help seniors age well, particularly young seniors from their 50s to early 60s, said Professor Paulin Straughan, director of SMU Rosa.

At the symposium, Rosa revealed findings of a new study that showed that while retirement is a major worry for most Singaporeans, only 34 per cent of Singaporeans rate their retirement preparedness as good, while another 27 per cent do not have a retirement plan.

Prof Straughan, who moderated a session on work transformation on Thursday, told reporters ahead of the session that the culture of work needs to change, because Singapore is super-aged and the people here are living so much longer and, hopefully, healthier. 

There is a group of Singaporeans who are well educated, experienced and have lived through the different global events, and they may be rendered invisible once they retire, she said. 

“So, we really need to rethink what work means – it doesn’t necessarily have to be nine to five, doesn’t necessarily have to be full time versus part time. You can contribute in a manner that you can,” said Prof Straughan.

Thus far, work has always been classified as paid work, but there is also volunteerism, which would suit those who may not need to work for a living but wish to continue contributing to society. 

“We don’t expect people to use their life savings to do community service. So, why not...  give them honorariums, so that they can retire but, at the same time, (play) a very important, socially significant role in the communities that they live in?” said Prof Straughan.

There should also be financial policies to help seniors live well as they age. “We need some help extending our savings because we don’t know when we will expire. And we hope that savings are adequate to support us through our longevity,” said Prof Straughan.

Researchers at Rosa polled 6,430 Singaporeans between the ages of 53 and 78 in January, drawing data from the Singapore Life Panel, a monthly survey of Singaporeans that is representative of the population.

For the study titled Singapore’s Three Generational Packages, Rosa had three policy recommendations for the Pioneer and Merdeka generations and young seniors.

As the pioneers may experience a greater sense of isolation, given a smaller social circle as their peers die, and be more likely to live alone, or be widowed or separated, policies must be able to support social initiatives to combat isolation, the study said.

The built environment can be transformed to support their social inclusivity, a theme that was explored at a workshop at the symposium.

For the Merdeka cohort, policies should promote part-time work, retraining and financial incentives to promote gainful employment, as approximately half of this group is employed.

For young seniors who are actively preparing for retirement, the meaning of work will likely evolve, and is something that policymakers should consider, the study said.

With longer life expectancy, increasing costs and inflation, financial retirement security for this group demands a fresh perspective, as traditional retirement savings may no longer suffice, it added.

i just emptied out my OA and put in SYFE Cash Guateed account getting 3.4% returns....let's see..

[Throttle2]

@kobayashiGT

Not Tampines Quarry but little Guilin

[Throttle2]

On 1/21/2025 at 3:46 PM, Spidey10 said:

i just emptied out my OA and put in SYFE Cash Guateed account getting 3.4% returns....let's see..

So high ah?! 
 

i also want leh

Got max amount or cap?

[kobayashiGT]

On 1/21/2025 at 4:00 PM, Throttle2 said:

@kobayashiGT

Not Tampines Quarry but little Guilin

Oh. pardon me hahaha. You are at the land of the rising sun. the building infront of the lake do have some resemblance to tampines quarry looking at Temasek poly. hahahaha. I mistaken it. hahahaha. My bad! 

Nice! Sub + leather jacket= big boss! hahaha  

[Spidey10]

On 1/21/2025 at 4:01 PM, Throttle2 said:

So high ah?! 
 

i also want leh

Got max amount or cap?

they are covered by MAS up to 100k...so i max at that ...but if u daring, then go for it...i think is pretty safe ba....nowadays so many other Digital banks in the market....or can open a few....Mari Bank also giving pretty high rates...

Edited January 21 by Spidey10

[Throttle2]

On 1/21/2025 at 4:23 PM, kobayashiGT said:

Oh. pardon me hahaha. You are at the land of the rising sun. the building infront of the lake do have some resemblance to tampines quarry looking at Temasek poly. hahahaha. I mistaken it. hahahaha. My bad! 

Nice! Sub + leather jacket= big boss! hahaha  

Not Sub bro, its my traveling GMT master on sport jubilee50 bracelet 

🤣