The 85,000 members were born before 1948 and they will be notified from June 2023. Read more at straitstimes.com.
SINGAPORE - Some 85,000 Central Provident Fund members who were born before 1948 will start receiving monthly payouts from their accounts, even if they did not opt to do so.
Prior to 2018, many members neglected to instruct the CPF Board to start payouts from age 65, it said. Members who have started receiving their CPF Life payouts may have received subsequent inflows to their Ordinary and Special Accounts. If they have set aside the Full Retirement Sum, their savings in the Ordinary and Special Accounts will not be automatically annuitised so that they remain withdrawable at any time.
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