MoneyOwl CEO Chuin Ting Weber’s view on Budget 2024’s Enhanced Retirement Sum (ERS):
Most Singaporeans do not have enough ERS or even the Full Retirement Sum (FRS) in their CPF to make the most of new Budget 2024 measures. Individuals still need to grow their CPF retirement sums wisely – saving regularly and growing those savings through CPF. And the Government needs to take more steps to help lower- to middle-income Singaporeans reach lifelong retirement income.
