- Series of five CPF retirement planning roadshows to be held from August to November 2016
- Mobile Service Centres in five community centres from March to December 2016
Singaporeans are living longer. With 1 in 2 Singaporeans aged 65 today expected to live beyond the age of 85 and 1 in 3 of them living beyond the age of 901 , it is essential that Singaporeans plan for retirement and do so early. To get Singaporeans thinking about retirement planning, the CPF Board (CPFB) will be organising its largest series of roadshows with a targeted reach of over 50,000 members. This follows the successful run of five roadshows last year in various parts of Singapore.
CPF Retirement Planning Roadshows
The first of the series of five CPF retirement planning roadshows will kick-off on Saturday, 27 August 2016 at Suntec City West Atrium. Visitors to this two-day roadshow can look forward to interactive displays which show how their CPF savings establish a foundation for their retirement through helping to provide for their home ownership, healthcare protection and lifelong retirement income. They can also learn how they can make the most of their CPF savings with recent CPF enhancements that provide additional options and flexibility to meet their retirement needs. In addition, those looking to pick up more in-depth information and tips can sign up at Big R Chat website for complimentary talks on healthcare, housing and retirement planning by financial experts, such as the CEOs of financial advisory firms Mr Christopher Tan and Mr Alfred Chia, and CPF officers. The schedule of talks offered at Suntec Convention Centre is shown in Annex A.
New features will also be introduced. This includes virtual reality booths where visitors can discover their retirement personality and enjoy an immersive 360° virtual reality experience as well as fringe activities such as coin bank painting and first aid kit decorating to keep young ones occupied while the adults explore the roadshow. Mediacorp artiste Belinda Lee and celebrity entrepreneur Dasmond Koh will make guest appearances and participate in stage games.
Following the anchor two-day roadshow at Suntec City West Atrium on 27 and 28 August 2016, subsequent roadshows will be held in the northern, central, eastern and western regions of Singapore from September to November 2016. Each roadshow will similarly be complemented by thematic CPF talks relating to healthcare, housing and retirement planning. Please refer to Annex B for the venues.
Mr Ng Chee Peng, Chief Executive Officer of CPFB said, “For most Singaporeans, the CPF system provides a good foundation for their retirement and yet it is often overlooked. We have therefore stepped up our outreach efforts to help Singaporeans better understand how CPF supports their retirement needs and the options they have with the recent CPF enhancements to better prepare for their golden years. By making retirement planning less daunting, we hope to encourage more Singaporeans to get started on the process and plan early to secure their retirement.”
Bringing CPF services closer to you – CPF Mobile Service Centre
Apart from the roadshows, CPFB also started a pilot initiative called the Mobile Service Centre (Mobile SC) in March 2016 to reach out to CPF members, especially the elderly, in the heartlands. Members can visit the Mobile SC to make enquiries and perform a range of CPF-related transactions, such as applying for CPF LIFE, making changes to their housing repayment and top ups to their CPF accounts. Since its launch, more than 3,500 members have visited the Mobile SC, of which more than 50% are aged 55 and above. The Mobile SC, which will be located at five different Community Centres for two months each, provides convenient access to members who would typically not visit a CPF Service Centre.
Members who opt for the CPF Retirement Planning Service (CRPS) can also choose to have their session at the Mobile SC for their convenience. Introduced in 2015, the CRPS provides personalised guidance to members reaching 55 so that they can make informed decisions about their retirement choices and the implications on their existing obligations, such as housing loans. Please refer to Annex C for the Mobile SC locations and schedule.
1 Yearbook of Statistics Singapore 2016
