On Friday, 16th February 2024, our Singapore Deputy Prime Minister and Minister for Finance Lawrence Wong announced several CPF (Central Provident Fund) changes in Budget 2024.
As I am in my forties, some of the changes may not apply to me immediately. Having said that, the CPF Shield Hack is something I look forward to but it now seems that this Hack is no longer valid.
I will not go too in depth for each of the CPF changes as you can read them up in detail from the CPF Board. Below is a short summary of the changes:
#1 Majulah Package for “Young Seniors”
The Majulah Package is introduced for “Young Seniors”, or Singapore Citizens in their 50s and early 60s. The package will also be extended to Pioneer and Merdeka Generation seniors.
So, what is in the Majulah Package?
The package is made of 3 components:
- Earn and Save Bonus (ESB) – Working seniors will receive
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