NAB’s cash profit falls 13%, to buy back A$1.5 billion of shares
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NATIONAL Australia Bank on Thursday posted a drop of about 13 per cent in
its first-half cash earnings as it grappled with high operating costs and
cutthro...
1 hour ago
Suspect CPF is pooling those extra interests earned together to support members from 85 to 90. payout will depend on sustainability of the pool
ReplyDeleteOfficial reply from CPF ...
ReplyDeleteWe refer to your enquiry of 20 December 2019.
We'd like to clarify that your payout will be calculated based on your current Retirement Account savings, to last you up to 20 years from your payout eligibility age (i.e. 65), with a base interest of 4% a year.
The extra interest paid by the Government (up to 2% per year) on your Retirement Account savings will be used to extend your payouts beyond 20 years, capped at your age of 90.
Members who are concerned about the risk of outliving their savings can consider joining CPF LIFE before age 80. This will eliminate longevity risk as they will receive CPF LIFE payouts for as long as they live.