Starting from October this year, the CPF Board will allow members in CPF LIFE, who have not reached the full deposit in their retirement accounts, to automatically transfer the deposits from the Ordinary and Special Accounts to the retirement account.
MoneyOwl’s Solutions Lead Daphne provided her views that it is fair for the CPF Board to extend the automatic payment of interest to all members because the basic function of CPF is to provide retirement income. However, this group of elderly people must have their own private savings or strong support from their families and the government.