CPF Minimum Sum now raised to $123,000

New amount applies to CPF members who turn 55 between 1 July 2010 & 30 June 2011

The CPF Minimum Sum has been raised to $123,000 as of 1 July 2010. This is part of the Singapore Government's move to ensure that Singaporeans save up enough for their retirement.

The new Minimum Sum applies to CPF members who turn 55 between 1 July 2010 and 30 June 2011. Members who can set aside the full Minimum Sum will receive about $1,100 per month when they reach their draw down age of 65.

To work out the monthly payout you will receive from your Retirement Account upon reaching your applicable draw-down age, use the Minimum Sum Payout Calculator on the CPF website.