Retirement in Singapore: FRS versus ERS
Let me state up front that I am totally for the Central Provident Fund (CPF) Scheme. Despite the many complaints, I think CPF is perfect for the majority of Singaporeans, as successful investment is a skill that only a minority possess.
As I approach my “CPF Age” of 55, I have a decision to make. Keep the Enhanced Retirement Sum (ERS) with the CPF Board for it to accrue for higher monthly payouts at age 65, or withdraw the excess above the Full Retirement Sum (FRS) and invest it myself.
