Can the CPF help us to save enough for our retirement? The answer is Yes. How? Through the magic of compound interest. The 5% compounding rate on CPF Special Account contributions, over a working lifetime, means that by the time you retire, you will have three times as much in the Special Account as you have put in over the years.
Minister Tan Chuan-Jin explained this in Parliament today. Listen to him do the sums for Ben, a young polytechnic graduate just getting married and starting to work. - LHL
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