The article explains the impact of a higher CPF monthly salary ceiling for one’s retirement nest egg. Experts told CNA that the extra CPF savings will help with the servicing of mortgages and add to a bigger retirement nest egg.
MoneyOwl’s Solutions Lead Daphne commented that high-income earners receiving large bonuses will not be affected, with the CPF annual salary ceiling remaining at S$102,000. She also recommended that top-ups be done to the Special Account earlier in the year to earn more interest.
