Retirement, home purchase and health insurance planner: CPF's new platform to help members make better decisions, Singapore News
Launched on Friday (July 5) at CPF's 70th anniversary commemorative book launch event, the initiative titled PLAN (Plan Life Ahead, Now!) offers members a centralised online platform where they can understand how their CPF savings can be allocated across major life needs and how one financial decision may impact another.
Through a dynamic dashboard tailored to each user's life stage, members can estimate their retirement savings and payouts, determine how much they can afford to spend on a home, and evaluate the cost of health insurance premiums.
Speaking at the launch event, CPF Board chief executive Melissa Khoo said the new tool reflects the Board's commitment to empowering members to take charge of their financial health, reported The Straits Times.
She highlighted CPF's vital role in Singapore's social security system and reaffirmed its commitment to ongoing innovation in support of its members.
"As retirement aspirations become more diverse and with healthier longevity, I believe these values will continue to steer us in meeting future needs," she said.
The planner integrates three planning tools in one --- a retirement planner, home purchase planner, and health insurance planner.
The retirement planner helps users map out payout goals and explore ways to meet them, such as through top-ups, while the home purchase planner feature shows how housing choices may affect future payouts by providing insight into budget and loan options.
Meanwhile, the health insurance planner allows members to compare premiums and features across different Integrated Shield Plans to make more informed decisions about healthcare coverage.
Beyond planning tools, the platform includes educational resources on financial planning and a financial fitness questionnaire.
Developed with MoneySense, Singapore's national financial education programme, the quiz prompts users with questions such as "How much savings do you have available in case of an emergency?" and offers advice based on their responses.
As part of the anniversary milestone, CPF has also released a commemorative book titled Save & Sound: 70 Years of CPF, which highlights the organisation's evolution over the decades. It features stories from former ministers, leaders, and members of the CPF Board and reflections on how CPF has impacted their lives.
The book is available digitally at cpf.gov.sg/member/infohub/cpf70.
Singaporeans can also explore CPF's history and try out the new planning platform at an exhibition at Our Tampines Hub, open until July 10. Talks on housing, retirement, and healthcare planning was held on July 5 and will also be held on July 6.
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crystal.tan@asiaone.com
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AsiaOne
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Retirement, home purchase and health insurance planner: CPF's new platform to help members make better decisions, Singapore News
Central Provident Fund (CPF) members can now use a new online tool to make better-informed decisions about their housing, retirement savings, and health insurance plans. Launched on Friday (July 5) at CPF's 70th anniversary commemorative book launch event, the initiative titled PLAN (Plan Life Ahead, Now!) offers members a centralised online platform where they can understand how their CPF savings can be allocated across major life needs and how one financial decision may impact another. Through a dynamic dashboard tailored to each user's life stage, members can estimate their retirement savings and payouts, determine how much they can afford to spend on a home, and evaluate the cost of health insurance premiums. Speaking at the launch event, CPF Board chief executive Melissa Khoo said the new tool reflects the Board's commitment to empowering members to take charge of their financial health, reported The Straits Times. She highlighted CPF's vital role in Singapore's social security system and reaffirmed its commitment to ongoing innovation in support of its members. "As retirement aspirations become more diverse and with healthier longevity, I believe these values will continue to steer us in meeting future needs," she said. The planner integrates three planning tools in one --- a retirement planner, home purchase planner, and health insurance planner. The retirement planner helps users map out payout goals and explore ways to meet them, such as through top-ups, while the home purchase planner feature shows how housing choices may affect future payouts by providing insight into budget and loan options. Meanwhile, the health insurance planner allows members to compare premiums and features across different Integrated Shield Plans to make more informed decisions about healthcare coverage. Beyond planning tools, the platform includes educational resources on financial planning and a financial fitness questionnaire. Developed with MoneySense, Singapore's national financial education programme, the quiz prompts users with questions such as "How much savings do you have available in case of an emergency?" and offers advice based on their responses. As part of the anniversary milestone, CPF has also released a commemorative book titled Save & Sound: 70 Years of CPF, which highlights the organisation's evolution over the decades. It features stories from former ministers, leaders, and members of the CPF Board and reflections on how CPF has impacted their lives. The book is available digitally at Singaporeans can also explore CPF's history and try out the new planning platform at an exhibition at Our Tampines Hub, open until July 10. Talks on housing, retirement, and healthcare planning was held on July 5 and will also be held on July 6. [[nid:715886]]
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