Think you’ve got your financial game on point? 🤔

Making the right moves is key to cultivating good financial habits! Learn how the Basic Financial Planning Guide can support you in reaching your long-term financial goals.

🎙Tune in now to hear more about managing personal finances and why it matters 👉 cpf.gov.sg/ManagingPersonalFinancesTG

Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.

Are your MediSave Account (MA) savings about to reach the Basic Healthcare Sum (BHS)? Keep watching to see where your excess savings go when the BHS is met! 👀

💡The BHS is the maximum savings you need in your MediSave Account for basic subsidised healthcare in old age.

When your BHS is reached, your savings will flow to your Special Account (SA) and Ordinary Account (OA), ensuring a balanced allocation across your CPF accounts. This helps you tap into your savings for other essential needs such as housing repayment 🏠.

Head here for more info 👉 cpf.gov.sg/SavingsAboveBHSTG

Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.

Do you know someone who is aged 55 or above? Let them know that their Special Account (SA) has been closed since 19 Jan 2025.

Their SA savings have been transferred to their Retirement Account (RA), up to their cohort’s Full Retirement Sum (FRS), where they will continue to earn the long-term interest rate from Jan 2025 onwards. If they’ve already set aside their FRS, any remaining SA savings have been transferred to their Ordinary Account (OA) where they will have the flexibility to withdraw them when needed. 💰

If they would like to continue earning the higher interest rate of 4% per annum and enjoy higher retirement payouts, they can transfer their OA savings to their RA up to the current year’s Enhanced Retirement Sum (ERS). Do note that this transfer is irreversible and can be made anytime.

Learn more about the SA closure here 👉 cpf.gov.sg/PressReleaseTG

Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.

🤔 Know someone who's turning 55? Remind them to update their bank account to PayNow NRIC-linked bank account with a quick one-time update.

🔔 Before updating, ensure the bank account is linked to PayNow NRIC. Even if they've withdrawn before, this update is necessary for added security against scams. Enhanced authentication and a 12-hour cooling period will apply for the update to take effect.

Check out our FAQ on why one should update their bank account 👉 cpf.gov.sg/UpdateBankAccountTG

💡Quick tip: Remind those around you that are receiving monthly payouts, to update their bank account before the 1st of the month to avoid any payment delays.

Here’s the step-by-step guide on how to update bank account.

Want easy access to simple and engaging guides on financial and CPF matters? Follow us on Telegram @CPFBoard for all the important tips.