4.1m CPF members' balances hit record S$462.1 billion in 2020

Read? 4.1m CPF members' balances hit record S$462.1 billion in 2020

Despite the pandemic, the CPF Board reported that voluntary top-ups into the special account and retirement account also reached a new high at S$3 billion in 2020, having jumped 39 per cent year on year from S$2.15 billion. More than one-third of these members were topping up for the first time.

CPF members invested S$17 billion of their ordinary account savings and S$5.5 billion of special account savings last year, under the CPF Investment Scheme.

Of the 40,000 active CPF members who turned 55 in 2020, 63.6 per cent were able to set aside the Full Retirement Sum for their cohort, or set aside at least the Basic Retirement Sum while owning at least one property.