CNA Explains: What a higher CPF monthly salary ceiling means for your retirement nest egg

Article by CNA

21 February 2023

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.

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CNA Explains: What a higher CPF monthly salary ceiling means for your retirement nest egg

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