Make The Most Of Your Money - Go Online To my cpf e-Services A Call To Singaporeans: Act Now To Secure Your Retirement Learn About Investing At CPF Investor Education Site Contact Us
PLANNING AHEAD
Make The Most Of Your CPF Go Online To my cpf !
Starting Work Getting Married Buying A House Making An Investement Reaching 55
Whether you are Starting Work or Reaching 55, you can now make better-informed decisions on maximising your CPF savings with my cpf at www.cpf.gov.sg.   The newly launched my cpf offers comprehensive information relating to major life events. From Starting Work, Getting Married, Buying A House, Making An Investment, to Reaching 55, members will be guided on what to consider and anticipate at different life stages when planning for their retirement. Mr Willie Tan, the Board’s Chief Executive Officer, said: “Motivating CPF members to plan early for their retirement is a strategic objective for the Board. As part of our public education approach, my cpf caters to different customer segments according to their life events. By proactively providing members with pertinent information relevant at a particular life stage, they will be equipped to plan better for their retirement needs.”   The Retirement Planning Calculator, an interactive online tool, will also be included in June 2004. This helps members project the amount of savings they will need, based on their desired retirement age and income requirements. Future enhancements, which will be rolled out in stages, are planned for my cpf. Individual members can soon look forward to receiving personalised information at specific life events to make better-informed choices on the use of their CPF savings
e-services
At www.cpf.gov.sg, you can:
Check On Your HDB Loan Payments Find out how much CPF has been deducted for your HDB housing instalments with your SingPass* after the second Sunday of each month. Since December 2003, the Board has stopped sending letters to inform members with insufficient CPF savings to service their HDB loans. e-Withdraw Your CPF When You Reach 55 Nearing your 55th birthday? Check your estimated withdrawal amount by clicking on the “Reaching 55: e-Withdrawal” section. If you don’t have a SingPass to access your personalised information, you can request one online. Simply go to “E-Services” on the CPF website, and select “SingPass Request”. Your personal password will be mailed to you within the week. POSBank account holders can also submit their e-Withdrawal applications online. So, encourage your family and friends who are 55 and above to take advantage of this convenient e-service! Get Your CPF Statements Anytime! Don’t wait for your CPF statement to be sent to you- go “e”! Opt for the online Statement of Account and you'll be able to view and print your CPF statements whenever you wish. Click on “CPF Statements” to choose this convenient option. Starting this year, the Board will send yearly instead of half-yearly statements. So, expect to receive your 2004 Yearly Statement of Account in January 2005. * SingPass is a personal password that allows you to transact online with the Government.
RETIREMENT PLANNING
A Call To Singaporeans: Act Now To Secure Your Retirement
In line with its commitment to educate Singaporeans on the importance and need to plan early for a secure retirement, the Board has set up a new department dedicated to driving its public education efforts. The Member Education Department aims to provide CPF members with the knowledge and skills to make informed retirement planning decisions, and to guide them on how to make prudent use of their CPF savings. Ms Fiona Chan, Deputy Director (Member Education), shares her thoughts on the Board’s upcoming initiatives.
Q:	What are some of the public education initiatives that the Board has rolled out?
A:	In addition to my cpf and the CPF Investor Education Site, the Board is introducing comprehensive educational modules on dedicated sites. These will focus on the Board’s core objectives of retirement, housing and healthcare. So, besides the Retirement Planning Calculator that we’re developing, we’ll also be unveiling a Housing Site in June to guide property buyers on the finer points of buying a home.
Q:	How do you plan to reach out to such a diverse pool of members, which totals some 3 million?
A:	We will personalise our communication by tailoring the messages according to the needs of the different member profiles. We will also use a combination of communication channels to push our information to members, from popular TV drama serials and roadshows, to newspapers and the Internet.
Q:	What are the challenges ahead for the Board?
A:	We want to motivate members to start planning early in order to secure their retirement. It’s never too early to start thinking about retirement savings. And since our target audience is so extensive, we are also enlisting the support of industry bodies and strategic partners in our education efforts. We are working closely with the Monetary Authority of Singapore and the Ministry of Community Development and Sports under MoneySENSE, a national financial education programme. As a group, we’re putting out consumer guides and publications, and organising community talks and workshops in the heartlands.
Learn About Investing At CPF Investor Education Site
Did you know: $10,000 with an interest of 1% per annum after 10 years becomes $11,046. With an interest of 5% per annum, the total becomes $16,289 – that’s $5,243, or 47%, more!     There are rules of thumb for investing you can follow as you make your way through the investment “maze”.
Check out the CPF Investor Education Site to learn about the power of compounding and our 10 rules of thumb for investing. Whether you are a new investor, or just thinking of investing to stretch your CPF savings for retirement, visit the CPF Investor Education Site. Accessible from www.cpf.gov.sg, it will give you a head start in being an informed investor.
The information on this site, which complements what’s in my cpf, guides you through the basics of investing and helps you chart your investment risk profile. You can also read educational articles on investments. Visit the site today and learn about investing before you invest your CPF and hard-earned savings!
Contact Us CPF website www.cpf.gov.sg Enquiries on schemes & services 1800-227 1188 Like to share your views on our service, or have ideas to help us improve? 1800-226 3866 cpfboard@cpf.gov.sg