Anonymous

26 Jun 2019

∙

Why are we allowed top ups to FRS cap whereas for ERS we can only start from 55?

Unsure as to why this is the case? Could anyone let me know the answer please!

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CPF Board

26 Jun 2019

Hi,

The CPF system is designed to meet the needs of the majority. Allowing members below the age of 55 to top up to the Enhanced Retirement Sum will mostly benefit the higher-income members. Members below the age of 55 can receive top-ups to their Special Account up to the current Full Retirement Sum. Members who desire an even higher standard of living during retirement can still save beyond the CPF system.

Thank you.

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Yixiong Chang

22 Jun 2019

Getting 4% riskfree interest rate is way above market rate. Which is indirectly subsidised by taxpayers.

Such restriction is there to limit the rich that can fully take advantage of this.

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For CPF LIFE payouts, If I already have the ERS amount in my SA at 55, what is the difference if I top up RA to ERS at 55 VS topping up to ERS only at 64 before payout?

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