BG Tan urges Singaporeans to plan for retirement early

Instead of sipping coffee at their favourite breakfast joints, more than 500 Singaporeans spent their Sunday morning getting tips on how to plan for retirement.

The audience, many of whom were reaching 55 years of age, were attending talks organised by the Central Provident Fund (CPF). Topics covered included managing healthcare and housing costs.

Minister of State for Manpower and National Development Tan Chuan-Jin was the guest of honour at the event, which was held at the NTUC auditorium at Marina Boulevard.

Many among the audience nodded and listened intently as BG (NS) Tan urged them not to overstretch their finances and to prepare for uncertainties such as changes in income levels.

The minister also launched two initiatives: The 'Are You Ready' website (www.areyouready.com.sg) to help people assess their readiness to retire; and the Minimum Sum Topping-Up campaign, where Singaporeans who top up their or their loved ones' CPF accounts before December 15 stand to win prizes worth up to $4,000.