News Release by: Ministry of Manpower Central Provident Fund Board, 7 May 2013
CPF members who turn 55 between 1 July 2013 and 30 June 2014 will need to set aside a Minimum Sum (MS) of $148,000 in their Retirement Account (RA). The MS for 2012 was $139,000.
The MS has been adjusted over the years to account for inflation, longer life expectancies and Singaporeans’ rising expectations of their quality of life post-retirement. The MS is targeted to reach $120,000 (2003$) in 2015.