CPF measures for seniors to benefit about 112,000 members

More than 80,000 of the members will receive payouts in their coming birth month.

Seniors will be uplifted from the CPF monthly payouts in retirement that was introduced in the Singapore Budget 2023, Central Provident Fund board said.

The minimum CPF monthly payout for members not on CPF LIFE will grow from $250 to $350 monthly.

Automatic commencement of monthly payouts will be extended to those born before 1948 and boosting CPF LIFE payouts will be made easier by annuitizing savings in the Ordinary and Special Account.

Around 112,000 members from June 2023, with 31% of them starting to receive payouts in their coming birth month.

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